New SEMA Research Shows $31 Billion In Automotive Parts, Accessories Sales

New SEMA Research Shows $31 Billion In Automotive Parts, Accessories Sales

Sales of automotive specialty equipment products continue to climb, with sales in 2012 reaching $31 billion, according to the 2013 SEMA Annual Market Report. This figure represents a 4 percent increase over the previous year, and marks the third consecutive year of growth, according to the association.

Sales of automotive specialty equipment products continue to climb, with sales in 2012 reaching $31 billion, according to the 2013 SEMA Annual Market Report. This figure represents a 4 percent increase over the previous year, and marks the third consecutive year of growth, according to the association.

“The report’s findings are consistent with what we are seeing and hearing in the industry,” said Chris Kersting, SEMA president and CEO. “Having experienced significant economic challenges over the past several years, the specialty parts and accessories market is ready and eager to do business. Companies have a more positive outlook about the future and are finding ways to grow the market.”

The automotive specialty equipment market began to see an upswing in 2010, when sales totaled to $28.6 billion, a 2 percent increase over the previous year. Sales reached $29.99 billion the following year, representing growth of 5 percent over 2010.

SEMA says the growth in 2012 is largely attributed to a growth in the street performance niche. Accounting for $7.47 million in sales, the street performance niche represents the largest niche in the industry. Also noteworthy in the study is the light-truck market. While the segment had been declining in recent years, the niche saw a slight increase and is expected to rebound as leading automakers prepare to release major redesigns for popular truck models in the coming years.

“The SEMA Annual Market Report is consistent with the trends we see,” said Kersting. “The number of exhibitors and buyer attendees at the SEMA Show has consistently increased over the last couple of years and we are on track to see an even stronger Show in 2013.  We’re seeing strong participation in nearly every area of the Show.”

The SEMA Annual Market Report is conducted yearly to help SEMA member companies understand the industry and make informed business decisions. SEMA research reports are available to SEMA members at no cost, and to non-members at a nominal fee. SEMA research reports are listed and can be accessed at www.SEMA.org/research.

 

You May Also Like

BendPak Founder Don Henthorn Passes Away

Grew company from small machine shop to global leader in car lifts and garage equipment.

Don Henthorn, owner and founder of BendPak Inc., peacefully passed away at home Thursday, March 28, at the age of 85. Under his leadership, BendPak has grown from a small machine shop to one of the world’s leading manufacturers of car lifts and automotive service equipment.

Management and operations of the privately owned company are unchanged. 

ASE Practice Tests Available Online

You can get a good idea of what to expect by adding the official ASE practice tests to their study plans.

AACF Celebrates 65 Years Serving the Aftermarket

AACF will be announcing more details about this commemorative fundraiser April 1st.

Auto Care Association Launches REPAIR Act Video

The goal is to emphasize the need for federal REPAIR Act legislation, according to the Auto Care Association.

Valvoline Celebrates Female Service Center Employees

Valvoline is launching a social media campaign led by its female experts who are sharing automotive preventive maintenance tips to promote accessible vehicle care for all.

Other Posts

ASE Education Foundation, Goodguys Continue Partnership

Goodguys is one of many industry relationships the foundation has developed to help solve the technician shortage.

BorgWarner Announces Plan to Reduce Supply Chain Emissions

A partnership with Manufacture 2030 will support BorgWarner in reaching its Scope 3 emissions reduction goal.

Mevotech Releases 237 New Chassis, Control Arm, Wheel End Parts

The release boosts coverage for domestic and import passenger vehicles, pickup trucks, SUVs and EVs up to model year 2023.

MEMA Celebrates 120th Anniversary

MEMA said the milestone “underscores the association’s enduring legacy and its pivotal role in advancing the future of mobility and the interests of vehicle suppliers.”