August sales reports have brought favorable news to the automotive industry, and the effects could translate to rebounding sales for SEMA members. Immediately following a turbulent period of slumping unit sales, August unfolded in a positive direction across the board.
From a month ago, most of the vehicle types are doing well. Midsize vehicles have supported sales in past months as consumers continue to step down from their larger trucks and SUVs. However, for the month of August, pickup sales did rebound as pent-up demand yielded to softer fuel prices. One of the key elements to this shift has been the dominance of CUVs.
The market is offering more options than before and consumers have taken notice. Still not entirely ready to discard the convenience and utility of their larger counterparts, consumers see a happy medium between function and fuel economy in this model range.
Midsize vans have been off the radar of the specialty-equipment industry for a considerable amount of time. However, they should be given a second look. Once the target of “soccer mom” jokes, vans do represent a decent portion of the vehicle marketplace. At 53,712 units, this volume is certainly not comparable to leading segments, but the opportunities are available. The types of products targeted towards owners of minivans are often based on utility, connectivity, entertainment and safety.