American consumers in 2017 spent more money than ever modifying their vehicles, according to SEMA’s 2018 Market Report.
After an eighth straight year of post-recession growth, retail spending on specialty-equipment parts reached $43 billion in the U.S. last year, and is currently projected to keep growing, according to SEMA’s report.
Other statistical highlights from the report include:
- Trucks accounted for 29 percent of all dollars consumers spent in 2017 on upgrading and modifying their vehicles
- In-store purchases accounted for roughly two-thirds of all 2017 retail sales dollars
- 33 percent of all specialty-equipment consumers were under 30
- Consumers spent nearly as much buying from specialty automotive retailer websites as they did on in-store purchases
- 42 percent of all forced induction products purchased were DIY installed.
Click for more information about the 2018 SEMA Market Report, which also includes information on specialty automotive consumers, key industry and economic trends and insights into the vehicles on the road.