Aftermarket auto parts now a $34B business in the US
Showing yet another year of strong growth, the specialty-equipment aftermarket parts business grew by 9 percent in 2005 to end up at $34.3B. That's nearly double the size of the market ten years ago, and in each of those years, the auto aftermarket has grown at a faster rate than the US Gross Domestic Product.
As SEMA points out, the automotive aftermarket in the US now rivals book sales, the pet-care industry, and the coffee business, and is even larger than the global athletic-shoe market. Yeah, sure, everyone needs Starbucks and comfy shoes, but apparently there's just as much demand for mobile audio, nitrous systems, and big wheels.
[Source: SEMA]
Reader Comments (Page 1 of 1)
DriftPunch 1:25PM (6/09/2006)
I'd like to see the numbers of how much of this is pure replacement parts(including tires), versus "performance upgrades" and/or accessories.
Reply
casual Observer 1:31PM (6/09/2006)
Agree with DriftPunch, and would also like to know how much is internal between OEM and dealer. If 34B were consumer money, I think there'd be more people getting involved.
Reply
JC Whitless 1:35PM (6/09/2006)
Oh, I'd say 90% of the stuff isn't needed on a car/truck.
Most of it is plastic stuff attached w/ double sided sticky tape
Reply
Carmine 2:18PM (6/09/2006)
"Showing yet another year of strong growth, the specialty-equipment aftermarket parts business..."
it says specialty equipment. i would assume that means items that are not merely repairs and necessary replacements, but i may be wrong.
Reply
SoloTwo 2:29PM (6/09/2006)
You guys always seem to find the negative about the topic rather then the postive.
Reply
Howard Kerr 3:18PM (6/09/2006)
"....NOW rivals the pet-care industry..."
I'm not sure what that says about us. Until recently, we were spending MORE on pets than on aftermarket parts for cars/trucks, but now it's close to even? And coffee?
Reply
Combatc87 11:43PM (6/09/2006)
I think it's great. It gives kids (like myself) something to care about. I know that since I started modifying my car, I have had a much stronger work ethic. I want to work harder so that I can afford the parts. It also gives someone self confidence to see a project come together, like creating a custom fiberglass enclosure or restoring a classic muscle car. More power to the industry, I say.
Reply
PJ 4:39AM (6/10/2006)
"I'm not sure what that says about us."
Well, I'd personally HOPE that people would prioritize feeding a living thing over adding another APC wing or VTEC sticker to their Civic.
I don't know that questioning the article's figures amounts to pure negativity. The article is very brief, and it never clarifies its definition of "aftermarket parts." Considering that SEMA has a vested interest in the impressiveness of such figures, I can understand other commenters' curiosity about how much money is actually going to legitimate, good-quality *performance* upgrades.
Reply