SEMA's Market Is Still on the Rise

LAS VEGAS, Nov. 6 -- Americans paid $24.86 billion for products to accessorize their cars and trucks last year, according to the latest research reported by SEMA, the Special Equipment Market Association.

The retail sales figure is larger than the incomes of individuals in five of the United States -- Montana ($20.4 billion), South Dakota ($19.7 billion), Alaska ($18.8 billion), North Dakota ($16.1 billion) or Wyoming ($13.4 billion). It is more than Americans spent on golf and golfing equipment in 2000. And, it reflects a 7 percent increase from the $23.24 billion consumers spent to customize their vehicles in 1999.

The specialty equipment market has grown every year since 1988, except for 1991 when the aftermath of the Gulf War included a 3.7% dip in custom auto parts and equipment sales. Except for 1991, the growth in the accessories market has been higher than the growth in both disposable income and the gross domestic product (GDP) for the past decade.

Appearance accessories such as sun roofs and wood dash kits, take the largest share of the market, at 55.6% ($13.8 billion).

Wheels, tires, and suspensions products account for 24.5% of the market, at $6.0 billion, while racing and performance parts had retail sales of $5.0 billion (21.2% of the market).

``Appearance accessories sales continue to grow healthily,'' said Jim Spoonhower, SEMA vice president of market research. ``Products for trucks dominate the accessory market, with domestic truck products taking 65% of the segment, and import trucks taking 10%. That means that three out of four dollars spent on accessories are spent for truck, van, and SUV accessories.''

Some of the more popular truck accessories are trailer hitches, bedliners, hood and side window deflectors, rear sliding windows, and toolboxes, according to the latest SEMA consumer survey.