Market Snapshot

SEMA PADI: BUYING SENTIMENT AMONG YOUNG ADULTS STRONGER THAN LAST YEAR

SEMA Performance Parts and Accessories Demand Index (PADI) - BUYING SENTIMENT AMONG YOUNG ADULTS STRONGER THAN LAST YEAR - SEMA eNews

In December, the SEMA Performance Parts and Accessories Demand Index (PADI) fell 2 points (6%) from a November reading of 31, indicating that around 8% of adult American drivers (approximately 8 million households) have plans to purchase specialty-equipment products sometime in the next three months.

While the index is down overall, anticipated demand for accessory and appearance products, racing and performance parts and wheel/tire/suspension components was up among 18- to 24-year-olds—the only age group to show an increased purchasing appetite compared to the same period last year.

Nearly 5% of 18- to 24-year-old consumers said that they are likely to purchase wheels, tires or suspension components, while close to 4% have plans to buy racing and performance products. Slightly more than 4% said they are likely to purchase accessories and appearance products.

Over the last three months, midsize cars have been the most popular target vehicles for enhancement or modification at 27%, followed by pickups (18%), compact cars (14%) and fullsize cars (13%). Most indicated plans to buy their parts at car dealerships (24%), with web retailers (18%), chain auto parts stores (17%) and independent parts stores (13%) the next likely purchase points.

When specialty-equipment buyers were asked what form their vehicle would take after customization, the most frequent answers given this month included: “general personalization” (54%), followed by “street performance” (19%), “street truck” (10%), with “hot rod” and “restoration” tied at 3%.

The SEMA PADI is derived from a nationally representative sample of around 900 consumers each month through a random telephone survey, with a margin of error is plus or minus 3.3%.

For more original market research, visit www.sema.org/research.