SEMA eNews Vol. 22, No. 42, October 17, 2019

CUVs Represent Fastest-Growing Vehicle Segment, Untapped Market for Accessorization

By Ashley Reyes

  CUV
The new SEMA Accessory Opportunity Report shows that fullsize pickups, the Jeep Wrangler and muscle cars, which have traditionally been popular in the industry, remain highly desired accessory vehicles. Meanwhile, CUVs are the fastest-selling vehicle segment and may present a growth opportunity for the industry.
   

Even as the vehicle landscape is changing, the market for parts to modify those vehicles is growing, according to the new SEMA research report, “SEMA Accessory Opportunity Report: Top Cars and Trucks,” which provides data-driven insights into the opportunities available to the automotive aftermarket. Designed to help businesses understand which cars and trucks consumers are choosing to personalize, the “SEMA Accessory Opportunity Report” provides an overview of the top vehicles for accessorization and outlines emerging segments within the $44.6 billion industry.  

“The new SEMA report represents the first time we’ve been able to quantify the best opportunities for vehicle customization,” said Gavin Knapp, SEMA director of market research. “Manufacturers and resellers can use this report to understand the current hot vehicles and emerging opportunities.”

The report shows that fullsize pickups, the Jeep Wrangler and musclecars, which have traditionally been popular in the industry, remain highly desired accessory vehicles. Meanwhile, CUVs are the fastest-selling vehicle segment and may present a growth opportunity for the industry.

Although sales for traditional passenger cars have decreased over recent years, more than 20 million are projected to be sold from 2020–2026. Automotive aftermarket businesses will benefit by understanding where the industry is headed.

While many drive trucks and sports cars, young drivers are also gravitating toward customizing small cars and luxury brands, such as the BMW 3 and Subaru Impreza. These types of vehicles are often the entry points to the industry for younger drivers.

To learn more about where the opportunity is for your business and to understand the top ranked vehicle models for accessorizing within each segment, download the report for free today from SEMA Market Research at www.sema.org/research.

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