SEMA News—August 2013
New Research Shows $31 Billion in Automotive Parts, Accessory Sales
Sales of automotive specialty-equipment products continue to climb, reaching $31 billion in 2012, according to the 2013 SEMA Annual Market Report.
The figure represents a 4% increase over the previous year and marks the third consecutive year of growth.
The automotive specialty-equipment market began to see an upswing in 2010, when sales totaled $28.60 billion—a 2% increase over the previous year’s total. Sales reached $29.99 billion the following year, representing 5% growth over 2010.
The increase in 2012 is largely attributed to growth in the street-performance niche. Accounting for $7.47 billion in sales, the street-performance niche represents the largest niche in the industry.
The light-truck market is also noteworthy in the study. While the segment had been declining in recent years, the niche saw a slight increase and is expected to rebound as leading automakers prepare to release major redesigns for popular truck models in the coming years.
The SEMA Annual Market Report is conducted yearly to help SEMA-member companies understand industry trends and make informed business decisions.
SEMA research reports are available to SEMA members at no cost and to nonmembers at a nominal fee. The annual report, as well as all SEMA research reports, can be accessed at www.sema.org/research.