Automotive Aftermarket News & Auto Industry Trends

The latest automotive industry news and racing news along with automotive aftermarket trends and automotive marketing trends. Our automotive news feeds are updated 24 hours a day. Click on a link to see the original news source; a screen will open and you won't need to leave this page if you don't want to.

Today's Automotive Industry News

Honda Civic Type R prototype interior revealed in Montreal - Motor1.com
Motor1.comHonda Civic Type R prototype interior revealed in MontrealMotor1.comThis is not, however, the first time we've seen the rest of the new Honda Civic Type R. It was on display at the 2016 Paris Motor Show in late September, as well as at the 2016 SEMA show in Las Vegas. But Honda officials decided bringing the car to ...and more »
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<div>Building Factory Five's New R Type Daytona Coupe - Hot Rod Network</div>
Hot Rod NetworkBuilding Factory Five's New R Type Daytona CoupeHot Rod NetworkA hot topic coming out of the 2016 SEMA show was Factory Five's announcement of their Gen III Type 65 Daytona Coupe. While it still represents the lines of the iconic Daytona Coupe, the Gen III is a clean sheet design with no parts carried over from ...
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Sorry Dodge Demon, The Challenger SRT8 ACR Was The First Lightweight Challenger - Fiat Chrysler Authority
Fiat Chrysler AuthoritySorry Dodge Demon, The Challenger SRT8 ACR Was The First Lightweight ChallengerFiat Chrysler AuthorityFiat Chrysler yesterday released the second teaser video for the upcoming Dodge Challenger Demon SRT, which revealed the factory-built drag racer will undergo a weight reduction process that will could make it lighter than the 4,000+ lb Challenger ...2018 Dodge Challenger SRT Demon is 200 pounds lighter than a HellcatMotor Authorityall 93 news articles »
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Guest Commentary: Time To Take Notice
In life and in business, we all encounter people who, no matter what the situation is, are always there to resolve an issue or a conflict, meet an impossible deadline or handle a difficult customer, then go about their business with very little fanfare or drama - the unsung heroes. The post Guest Commentary: Time To Take Notice appeared first on aftermarketNews.
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Icahn Enterprises Completes Tender Offer In First Step Of Federal-Mogul Acquisition
The completion of the offer is the first step in Icahn Enterprises' two-step acquisition of Federal-Mogul. Following the merger, Federal-Mogul's common stock will cease to be traded on the NASDAQ Global Select Market. The post Icahn Enterprises Completes Tender Offer In First Step Of Federal-Mogul Acquisition appeared first on aftermarketNews.
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PPG Reports 4th Quarter, Full-Year 2016 Financial Results
The company has reported fourth quarter net sales of $3.5 billion and earnings per diluted share from continuing operations of 29 cents. The post PPG Reports 4th Quarter, Full-Year 2016 Financial Results appeared first on aftermarketNews.
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Auto Care Association Launches New Advocacy Website
The association says this new advocacy platform provides a “one-stop-shop” for auto care professionals and their customers to contact legislators via email, phone or social media to express their views on issues that impact the auto care industry. The post Auto Care Association Launches New Advocacy Website appeared first on aftermarketNews.
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Glen De Vos Named Delphi Chief Technology Officer, Senior Vice President
Delphi Automotive PLC has named Glen De Vos as chief technology officer and senior vice president, effective March 1. De Vos succeeds Jeff Owens, who will retire after more than 40 years with Delphi. The post Glen De Vos Named Delphi Chief Technology Officer, Senior Vice President appeared first on aftermarketNews.
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SEMA Data Co-op Upgrades Product Standards
The data is compatible with industry-wide PIES 6.7. The post SEMA Data Co-op Upgrades Product Standards appeared first on aftermarketNews.
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Continental Elite RPM Club Announces 2016 Grand-Prize Winner
The Continental Elite RPM Club is a program that rewards members (shop owners and professional repair technicians) with merchandise and gift cards for purchasing and installing Elite-branded aftermarket products. Members send in UPC panels and earn points for products like Elite Poly-V belts, V-belts, timing belts, timing belt kits and Poly-V tensioner kits. The post Continental Elite RPM Club Announces 2016 Grand-Prize Winner appeared first on aftermarketNews.
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HDA Truck Pride Appoints New Vice President Of Product Management And New Business Development Manager
Tom Kennedy has been appointed as vice president of product management, and Mike Copeland was appointed to business development manager, Western Region. The post HDA Truck Pride Appoints New Vice President Of Product Management And New Business Development Manager appeared first on aftermarketNews.
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Gates Introduces New International Thread Identification Kit
The kit includes 21 metric thread sizes, both male and female, and 10 British thread sizes, both male and female. The post Gates Introduces New International Thread Identification Kit appeared first on aftermarketNews.
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Automotive qualitative vs. quantitative market research

Qualitative market research gives you a high level view. It is obtained from a small group of respondents and the data isn't analyzed with statistical techniques. A focus group is an example of qualitative research. A focus group may give you some answers but is often a starting point for quantitative research.
Quantitative market research gives you facts and details. It is obtained from a larger number of respondents and the data is analyzed using statistical methods. Quantitative research results are given using a margin of error.

Where auto parts enthusiasts get information

Before buying products, enthusiasts (depending on market segment) rely on the following sources:

Enthusiast Web sites: 60%-85%

Internet search: 50%-85%

Manufacturer Web site: 50%-70%

Mail order catalog: 40%-65%

Chain automotive store: 30%-50%

Friend/relative: 30%-50%

Social media (Facebook, etc.): 2%-15%

 

Vehicles registered in the United States

There are 254,000,000 vehicles registered for personal use in 117,538,000 households (2010 US Census Department data).

Automotive direct mail response rates

Rented mailing lists response rates are typically 0.5% to 1.0%, sometimes as high as 1.5%.
House file response rates are typically 1.0% to 10%, sometimes as high as 15% to 20%.

Automotive email delivery, open and click-through rates

Rented email list delivery rates should be 95% or more. Open rates can range from 2% to 5% depending on subject line and we've had open rates as high as 13%. Click-through rates are typically 0.25% to 0.50%, sometimes as high as 2.0%. Repeat emails can increase the response rate of a second email by 50%.
House file email delivery rates should be 98% or better. Open rates should range from 15% to 20% or more. Click-through rates are typically 1.0% to 3.0%, sometimes as high as 5% to 8%.

Automotive enthusiast buying cycle

Many enthusiasts will take time before buying. Here is the length of time between when an enthusiast decides to buy a part, and when it is actually purchased (depending on market segment):

1 day: 5%

Less than one week: 30%-35%

1 week: 18%-25%

2 weeks: 20%-25%

3-4 weeks: 10%-17%

1 month or longer: 5%-10%

 

Definition: Statistical margin of error

When reporting results for quantitative research, margin of error is used to describe the amount of random sampling error in the data. All margins of error are based on a confidence level. All Hedges & Company research uses a 95% confidence level which means if a survey were repeated in identical conditions, 95 times out of 100 the results would always be within the margin of error.

Margin of error examples

Automotive parts retailers: 381 responses are required for a margin of error +/-5%. 469 responses are required for a margin of error of +/-4.5%. 769 responses are required for a margin of error of +/-3.5%.

Automotive enthusiast consumers: 385 responses are required for a margin of error +/-5%. 475 required for +/-4.5%. 1,067 required for +/-3%.

 

Annual spending on auto parts and accessories

There is a big range of investment in the hobby. Here is the amount of money spent each year by enthusiasts on automotive performance parts and accessories (depending on market segment):

$10,001+ per year: 10%-15%

$7,501-$10,000: 5%-10%

$5,001-$7,500: 15%-20%

$2,501-$5,000: 25%-35%

$1,000-$2,500: 20%-30%

Less than $1,000: 10%-15%

Search Engine Optimization (SEO) and the importance of metadata and content

When designing a web site for search engine optimization for the automotive market, pay close attention to the following elements on your page.
Metadata in <head> section:
Page title <title>Title here</title>

Page description <meta name="description" content="Description here" />

Meta keywords: not important.

Content in <body> section:
Content rich in words relevant to your page's main subject.

Headline tags <h1>Main headline here</h1> (ideally just one h1 per page) and <h2>Subheads here</h2>
Make the most important words bold using <strong></strong> tags.

Add alt tags to images that reflect the page topic using the code alt="Alt tag here" wtihin your <img src="/image.gif"/> tags.

 

Size of automotive market segments

Here are the approximate size of various market segments in the automotive specialty equipment market. Due to extensive crossover between segments and enthusiasts owning multiple vehicles, this adds up to more than 100%.

Street performance: 70%

Truck/SUV: 55%

Passenger car: 45%

Restoration: 35%

Compact performance: 30%

Racing: 30%
Street rod/custom: 25%

Off-road: 20%

 

Looking for more auto industry data and statistics? Try the Automotive Market Research Council (AMRC). They're a non-profit organization founded in 1966, dedicated to market research within the automotive, commercial vehicle, and off-highway industries. Also try the Automotive News Magazine data center for auto industry news and statistics.