Foresight Research Has Released a Report That Shows Four Out of Ten New Vehicle Buyers Accessorize Their Vehicle -- and They Spend $1,949 Doing it

ROCHESTER, Mich., April 10, 2013 (GLOBE NEWSWIRE) -- Foresight Research has released the results of its syndicated 2013 Automotive Accessory Market Report. Based on a study of 7,543 recent US new car and truck buyers, the report found:

  • New vehicle buyer profiles continue to evolve with older (55+) and wealthier ($100K+) buyers dominating purchase in the small SUV segments as well as the more traditional large car and mid/large SUV segments.
  • Young male new vehicle buyers who have traditionally been a focus of the accessory market represent a small and shrinking portion of the new vehicle sales and their purchase of accessories decreased more than any other group. Middle age, over 55 and women buyers are keys to success in the accessory business.
  • Heavily accessorized segments such as pickups, mid/large SUVs and sporty cars are still the bread and butter of the accessory business. But, growing segments such as midsize car and small SUVs may represent a big future for accessories.
  • Buyers who accessorize spend big dollars – an average of $1,949 within the first two years of vehicle ownership.
  • Half of accessory sales occur at or immediately after vehicle delivery, yet only 32% of salespeople attempted to sell accessories and too few dealers display accessories in their showroom.
  • Accessories showing growth include: sunroofs, rear camera / park assist, LED/HIG light conversions, custom wheels and performance tires. Decreases were: running boards/side steps, heavy duty trailer hitches, spray in bed liners and performance air intakes.

"Understanding who accessory buyers are, what they buy and what influences the sale are the keys to the ever changing accessory market landscape. This report reveals trends in the market and shows how manufacturers and dealers can fully capitalize on the sales opportunity of the accessory market," said Steve Bruyn, CEO of Foresight Research.

The 2013 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 automotive, marine and experiential marketing.

CONTACT: 640 West University Drive Rochester, MI 48308 (248) 608-1870 www.foresightresearch.com Media contact: Ron Hein, Executive Vice President ronh@foresightresearch.com (248) 608-1870 ext.18Source:Foresight Research