Chevrolet’s Corvette has been a perennial favorite among gearheads for over half a century. From classic models to modern editions, enthusiasts continue to search for the latest high‐performance and restyling products for this iconic sports car.
The overall Swiss market demand for automotive parts, aftermarket products, accessories as well as specialty equipment was valued in 2006 at USD 949 million and is forecast to grow 3-4% over the next two years. In the past few years, U.S. exporters have garnered a small market share, registering USD 45 million in 2006 or 4.8%. Germany, which traditionally has had a strong stronghold in the market, captured the lion’s share with a total exceeding 47% of the market, followed by France with 14% and Japan with 12%.
Australia, a country of 20 million people, is world famous for a citizenry whose love of cars and vehicle customization is on a par with that of the United States, and perhaps more so in some sectors. With more than 14 million vehicles and a population a mere one-tenth the size of the U.S., Australia has one of the highest ownership of vehicles per capita in the world.
Results of the focus panel held in Atlanta at the NOPI Show.
Results of the focus panel held at SpoCom in 2008.
Results of the focus panel held in Englishtown at Old Bridge Township Raceway Park.
Results of the focus panel held at the PRI Show. Jobbers on a panel, as well as the audience, were asked questions regarding the economy and their businesses.
In Japan, there are “Safety Standards”to ensure the safety of vehicles and prevent environmental pollution. Vehicles that do not meet the “Safety Standards”set out under the Road Vehicles Act cannot be driven on public roads.
Results of the focus panel held at PRI. Jobbers were asked about the health of their businesses in 2007 compared to 2006.
A quick survey was administered to SEMA members in July of 2004, and the respondents were asked a series of questions to determine the effects of business cycles on cash flow and other aspects of business. About 82% of the 98 companies surveyed stated that they do experience peaks sales throughout the year. Over half of the companies surveyed have at least two peaks throughout the year. While it is no surprise that 63.3% of total companies surveyed reported summer as their peak sales season, retailers actually rate summer and spring equally in terms of when peak sales occur. Roughly 60% of all the companies surveyed claimed that the difference between “peaks” and “valleys” range anywhere from 0 – 30%.
Retail sales for the Compact Performance niche reached new heights during 2007, peaking at $6.688 billion for the year. This accounted for a 12.21% increase over 2006: the 10th consecutive year since SEMA began documenting the segment separately. Product segment changes continue to support the notion that these enthusiasts are seeking better handling, higher performing vehicles and related modifications as the market matures.
The SEMA Youth Study concerns what a variety of data tells us about the Gen Y band and specialty equipment activity. Gen Y consumers born 1977-1995 represent a market influx of over 70 million consumers; Gen Y has a high minority population of 34% versus the 27% in the general population. Gen Y is an elusive consumer to market to; they communicate through and interact in many dimensions; but 93 percent utilize the Internet for vehicle searches when considering purchasing versus the 62 percent of general population; 1 in 3 Gen Y would consider purchasing a vehicle over the internet86 percent of men and 53 percent of Gen Y Lifestyles respondents have personalized or modified their vehicle, 11 percent of total Gen Y respondents which have spent over $10,000 to do so.