By Jason Catullo
The street performance niche comprised $8.72 billion in retail sales in 2013.
The street-performance niche is steeped in the American automotive tradition of increasing vehicle power and performance. Enthusiasts’ desire for the latest in speed and control have propelled this niche to be the strongest and largest in the specialty-equipment market, comprising $8.72 billion in retail sales in 2013. Performance products lead the way in terms of product segment, capturing 37.5% of the market share, followed by wheel, tire and suspension products at 31.8%, and accessory and appearance products with 30.7%.
Products that provide boosted horsepower and handling are most often associated with the niche and are seen as the key components of street-performance builds. A closer examination of the niche and the overall product-segment breakdown reveals that street-performance enthusiasts purchase from each of the three product segments fairly equally. At $8.72 billion in retail sales, the street performance niche increased more than a 16% compared to 2012. The sales of sports and musclecars have been strong for the past several years, helping the niche to sustain strong sales and supports its current upward trend.
“Classic musclecars are bringing record prices at auction and current-generation musclecars like the Mustang, Camaro and Challenger are channeling that styling and passion for performance to new-car buyers, said Gavin Knapp, SEMA senior market research manager. "Performance has become a great selling point for these new cars and the specialty-equipment market fuels that fire, producing and selling more products for this market niche than any other.”
This information and more is available through the recently released “2014 SEMA Annual Market Report.” Members: Download a free copy of the “2014 SEMA Annual Market Report,” which provides detailed insight on the compact-performance, street-performance, light-truck, off-road, restyling, restoration, street-rod and custom, and racing niches.
The SEMA Annual Market Report is conducted yearly to help SEMA-member companies understand the industry and make informed business decisions. SEMA research reports are available to SEMA members at no cost, and to nonmembers at a nominal fee. SEMA research reports are listed and can be accessed at www.SEMA.org/research.