The restyling market experienced a steady decline in sales at the retail level from 2007 through 2009, according to SEMA research, going from $4.23 billion in 2007 to $3.79 billion in 2009. The main factor contributing to the fall in the market was the recession, which led to a major decline in vehicle sales. With available vehicle inventory on the downturn, a factor that may not adversely affect the more traditional specialty automotive markets, the decline changed the landscape of the restyling market. For OEMs, assembly lines were streamlined, factories were closed, trim levels were reduced or reconfigured, and the once lengthy list of available accessory options was scaled back.
Restyling Market Facts
Products used to modify a vehicle’s exterior or interior after they
have left the factory are what define the restyling market. As
consumers desire to create something unique that fits their personal
lifestyle, so, too, does the trend to customize one’s vehicle.
Restyling products, which include sunroofs, ground effects, grille
guards and drop-center bumpers, are functional, however, many consumers
purchase them for the aesthetic appeal.
General Market Information