Trends in the Aftermarket Car Accessory Industry
After the last year, one could be forgiven for thinking that industry trends have stagnated and there hasn’t been much change in a lot of industries. This couldn’t be more untrue in the realm of the aftermarket automobile industry, however. Even through the hurdles the past year has put us through, the aftermarket auto parts industry grows ever larger as more people buy cars and hold onto them for longer periods of time.
We’re going to take a look at some trends in the aftermarket car accessory industry to find out what’s really been going on lately. We’ll also look at how these trends affect customers and aftermarket parts dealers as well. Some of these trends may seem out of place, but we’ll explain why they matter as we go along.
Personal Consumption of Aftermarket Parts Increasing
One of the trends that currently has a direct effect on the aftermarket parts industry is that, year after year, the consumption of aftermarket parts increases. Even with the last year hitting every industry hard, the fact that parts consumption has still increased is fascinating. Given that cars are some of the biggest investments people make, it isn’t too surprising to find out that they want them to last.
If this trend keeps going, parts manufacturers are going to need to ramp up their production to stay ahead of the rising demand. This is, of course, a good thing to hear, but it also means that manufacturers will need to start thinking about expanding. However, this is easier said than done.
Rising Interest in Hybrid Automobiles
Hybrids are on the rise—and for good reason. The more people come to realize the truth of climate change and the state of our planet, the more hybrids will sell. Hybrid cars may not be the perfect solution, but they are certainly better for the environment than your typical gas-guzzling monstrosity. This also presents challenges to car accessory manufacturers.
Now, manufacturers of car parts will need to keep these hybrid cars in mind. Manufacturers can’t simply ignore them in favor of traditional cars. The demand for hybrids is increasing rapidly and parts manufacturers need to be ready to meet the demand for aftermarket parts for these hybrids. For many manufacturers, this could mean wild changes in production lines
Mobile Technology Becoming More Common
One of the biggest trends in the aftermarket car accessory industry is the rise of mobile technology integration in many cars. Smartphones are becoming more and more integrated into our vehicles’ systems. Manufacturers of aftermarket parts need to prepare for this new development.
Many parts dealers may have to tweak these parts so they can work in a car with mobile technology integration. The manufacturers that do this might have a leg up on the competition as tech integration is only going to increase as time goes on. There could even be an emerging market of special aftermarket parts specifically made to be usable with your personal tech.
E-Commerce Making It Easier To Buy
The days of heading into a physical dealership are dwindling as it becomes more and more common for people to buy their cars online. This doesn’t only affect the sale of new cars—over the past few years, buying used cars online has become a breeze. This has led to the sale of more used cars, leading to more demand for aftermarket parts to keep them going.
E-commerce has also led to an increase in aftermarket sales. Now that it’s no longer necessary to go into an auto parts store and find what you’re looking for, more people are finding it’s quite easy to get the exact parts you need from an online shop.
Vehicle Average Age Rising
As manufacturers continue to make vehicles last longer and longer, more people are keeping their cars for longer periods of time than ever before. Because of this trend, there is more of a demand for aftermarket parts as an alternative to OEM parts. In some cases, OEM parts are impossible to find after a certain amount of time, so people turn to the aftermarket.
Because original manufacturers only create parts for older cars for so long, it’s up to the aftermarket to supplement parts where there aren’t any more. As vehicles gets older, this will become more commonplace, leading to more people buying aftermarket parts as their only choice.
Customers Have More Buying Power
As we mentioned with the increase in e-commerce, customers now have more places to choose from than ever before. Not only do they have more places to find an actual car, but they also have more places to find parts for those cars later on. This means that aftermarket parts manufacturers are in more competition than they realize.
When customers have more buying power, it’s then up to the suppliers to show those customers why they should pick them over the competition. We could see quite a bit more marketing efforts being put forth by aftermarket manufacturers as this trend continues.
DIY Automotive Work Increasing
Another trend that would seem to have an obvious effect on the industry is automotive work done by the car’s owner. It’s more commonplace than ever before. With the internet making it easy to find solutions to car problems and guides for repairs and replacements, many more people fixing their automobiles themselves rather than taking it to a mechanic.
As the number of people who understand their cars increases, we could see a large jump in the demand for aftermarket parts. We could be at the beginning of a new generation of car owners that understand their cars better than ever before.
American Modified keeps track of trends like these so we can better understand our customers and what they’re looking for. If you’ve been looking for aftermarket auto accessories, you’ve come to the right place. With a wide selection of parts for Jeeps, Fords, and Hondas, we’ve got the parts you need to really make your car feel like your own.