Automakers may be facing declining sales, but the $31 billion market for upgrading cars with cool customizations is still winning annual sales increases of 4 to 5 percent, according to BusinessWeek. Auto enthusiasts reportedly spend an average of about $1,800 per vehicle for upgrades to wheels, grills, body kits, mobile electronics, and more. Events like the SEMA auto show (November 1-4) enable automakers to reach out to the young demographic that drives the customization industry. In a time where fuel costs are high and vehicles keep getting more expensive, it’s interesting the market for customization is so strong. “All of the dollars spent in our industry are discretionary. The parts are nothing you need but everything you want,” says Peter MacGillivray, SEMA vice-president for marketing and communications.
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10/31, 8:44 PM
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The Sporting Life » Pimp Your Ride
[...] Car Customization Gaining Popularity [Leftlane] [...]