• DD-Square-Logo_resized
  • ATTEND LAS VEGAS
    • Attendee
      • Registration & Pricing
      • Hotel & Travel
      • FAQ
    • Exhibitor
      • Exhibit/Sponsor
      • Advertising Opportunities
      • Exhibitor Console
    • Education
      • Overview
      • Show Schedule
  • ABOUT
    • Conference Overview
    • Testimonials
    • Become a Speaker
    • Press Inquiries
    • Partnership Programs
    • Health & Safety
    • Contact Us
    • Get Updates
  • RESOURCES
    • Webinars
    • Downloads
  • NEWS
    • Auto Retail News
    • Digital Editions
    • Press Releases
    • Submit Editorial
    • Subscribe
  • .
  • ATTEND LAS VEGAS
    • Attendee
      • Registration & Pricing
      • Agenda Summary
      • Show Schedule
      • Hosted Dealer Program
      • Hotel & Travel
      • FAQ
    • Exhibitor
      • Exhibit/Sponsor
      • Advertising Opportunities
      • Exhibitor Console
      • Exhibitor Services Manual
    • Education
      • Conference Overview
      • Conference Speakers
      • Session Schedule
  • RESOURCES
    • Webinars
    • Downloads
  • ABOUT
    • Conference Overview
    • Testimonials
    • Become a Speaker
    • Press Inquiries
    • Partnership Programs
    • Health & Safety
    • Get Updates
  • NEWS
    • AUTO RETAIL NEWS
    • PRESS RELEASES
    • DIGITAL EDITIIONS
    • SUBMIT EDITORIAL
    • SUBSCRIBE

Las Vegas: Oct 17-19, 2023

REGISTER NOW EXHIBIT / INQUIRE
Q

NEWS:

Fixed Operations News
May 25, 2012

New Vehicle Accessory Spending Dips

Posts:
Fixed Operations News
May 25, 2012

New Vehicle Accessory Spending Dips

Accessories market is expected to bounce back as younger buyers and pickup sales return

ROCHESTER, Mich. — Foresight Research has released the results of its syndicated 2012 Automotive Accessory Market Report. Based on a study of 7,851 recent US new car and truck buyers, the report found:

  • Despite a 2% drop from last year a whopping 42% of all buyers install accessories within the first two years of ownership.
  • The highest accessory installers (Pickup truckers) declined 2%.
  • The average accessory buyer now spends $1,662, an 8% decline from a year ago.
  • Declines in installation rates and spending were most prevalent among younger and middle class buyers; those hardest-hit by the recent recession.
  • Availability of accessories was influential to selecting a dealer by 29% of accessory buyers.
  • Half of all accessory sales occur at or immediately after vehicle delivery, yet dealers cut back on accessory sales effort: 35% of salespeople attempted to sell accessories, and only 41% of dealers had accessorized vehicles on display.
  • Sales efforts do pay off: when accessory sales efforts did take place, the total average accessory spending increased by $531 per unit.
  • Electronics, comfort and convenience accessories top the installation rate charts.

“Despite a recovering auto industry, accessory sales to new vehicle buyers declined this past year,” said Steve Bruyn, CEO of Foresight Research. “Contributing factors include the economy’s impact on shifting demographics, consumer restraint on spending and dealers dialing back accessory sales efforts.  These trends should reverse themselves as the industry continues to improve, younger accessory-conscious buyers come back into the market, the mix of pickup trucks improves and dealers refocus on the substantial accessory opportunities.  This report shows how manufacturers and dealers can fully capitalize on the expanding sales opportunity of the accessory market.”

The 2012 Automotive Accessory Market Report compares vehicle brands, segments, geography and accessory type (appearance, performance, comfort/utility and protection), and the information sources used to shop and buy accessories. It quantifies the already installed and plan to install rates of 55 accessory categories.

Established in 1998, Foresight Research specializes in studies focusing on the key influencers of purchase decisions in the automotive, marine, advertising, public relations, experiential marketing, healthcare, government, and industry association sectors.

Fixed Operations News

SHARE

Share on Email
Share on Linkedin
Share on Facebook
Share on Pinterest
Share on Twitter
← Previous Article Next Article →
Posts Dealer Ops & LeadershipTrending Industry News

Standing Too Close to the Elephant

Posts Sales & Variable OpsTrending Industry News

Enhancing and Transforming the Automotive Sales/Service/Parts Lifecycle with ChatGPT

Posts Dealer Ops & LeadershipTrending Industry News

Standing Too Close to the Elephant

Posts Dealer Ops & LeadershipTrending Industry News

Four Steps for Successful Digital Retail Adoption

Posts Dealer Ops & LeadershipTrending Industry News

The Who, What, Where and How of AI-Built Solutions

Posts Sales & Variable OpsTrending Industry News

The Sales Objections You Need to Master in 2023

Posts Dealer Ops & LeadershipTrending Industry News

The Tale of Two Advisors

Posts Dealer Ops & LeadershipTrending Industry News

147,348 Reasons Why Customer Experience & Dealership Loyalty Matter – The Power of a Point

NEWSLETTER

SUBSCRIBE

DEALER MAGAZINE

Dealer Magazine March/April 2023 Issue Featuring an Interview with NADA 2023 Chairman
MAGAZINE
Digital Dealer Logo White
FOLLOW US ON
  • Follow
  • Follow
  • Follow
  • Follow
  • Follow
© 2023 Emerald X, LLC. All Rights Reserved.
ABOUT    CAREERS    AUTHORIZED SERVICE PROVIDERS    TERMS OF USE    PRIVACY POLICY