2008 SEMA Market Study
About this product:
In 2007, retail sales of specialty automotive products reached $38.11 billion. That's an increase of 3.8 percent from 2006, and up 79.8 percent since 1998 when retail sales hit $21.20 billion. That equates to an average annual growth of nearly 8 percent year-over-year for the past 10 years. For the consumers who purchase the specialty automotive equipment industry's products, the real distinction is that performance parts and accessories make their vehicle more enjoyable. As a result, industry sales have grown at rates that are two and three times what might be expected.