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

International Automotive On-board Power Inverter Market by 2020: Revenue, Growth, Analysis, Regions, Trends ... - Satellite PR News (press release)
International Automotive On-board Power Inverter Market by 2020: Revenue, Growth, Analysis, Regions, Trends ...Satellite PR News (press release)Automotive On-board Power Inverter Market report 2016-2020 focuses on the major drivers and restraints for the key players. Automotive On-board Power Inverter research report also provides granular analysis of the market share, segmentation, revenue ...and more »
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Automotive Lighting Market Foreseen to Grow Exponentially over 2020 - Persistence Market Research - Digital Journal
WhaTechAutomotive Lighting Market Foreseen to Grow Exponentially over 2020 - Persistence Market ResearchDigital JournalAsia Pacific is the largest automotive lighting market across the world. India, China, Japan and South Korea are some of the prominent countries, which accounts majority of the vehicle production thus offering growth opportunity for automotive lighting ...Automotive LED lighting industry report for 2017 published by leading research firmWhaTechall 41 news articles »
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Automotive Metering Valve Market Estimated to Flourish by 2026 - Persistence Market Research - Digital Journal
Automotive Metering Valve Market Estimated to Flourish by 2026 - Persistence Market ResearchDigital JournalThe automotive metering valve market is heavily reliant on automobile manufacturing and sale. Increasing demand for automobiles from developing countries such as China, India and Brazil is a major driver for automotive metering valve market. China is a ...
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Make Some Noise with the New Kooks Jeep Wrangler JK Exhaust - Off Road Xtreme (press release) (blog)
Make Some Noise with the New Kooks Jeep Wrangler JK ExhaustOff Road Xtreme (press release) (blog)The Jeep Wrangler recently made some noise by being named Hottest 4×4-SUV at the 2016 SEMA Show. Now, Kooks Headers and Exhaust is making some noise of its own with a new Stainless Steel Axle Back Exhaust System for 2007-up Jeep Wrangler JK ...
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International Automotive Rear Cross Traffic Alert System Market by 2020: Revenue, Growth, Analysis, Regions, Trends ... - Satellite PR News (press release)
International Automotive Rear Cross Traffic Alert System Market by 2020: Revenue, Growth, Analysis, Regions, Trends ...Satellite PR News (press release)Automotive Rear Cross Traffic Alert System Market report 2016-2020 focuses on the major drivers and restraints for the key players. Automotive Rear Cross Traffic Alert System research report also provides granular analysis of the market share ...and more »
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Dorman Products Reports Sales And Earnings For The 4th Quarter, Full-Year
Net sales for fiscal year ended Dec. 31, 2016, increased $56.6 million, or 7 percent. The post Dorman Products Reports Sales And Earnings For The 4th Quarter, Full-Year appeared first on aftermarketNews.
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Flex To Expand Automotive Offering Through Strategic Acquisition Of AGM Automotive
AGM is a leading global supplier of automotive interior components and systems, including overhead console systems, interior lighting, electronic components and textile flooring solutions. The post Flex To Expand Automotive Offering Through Strategic Acquisition Of AGM Automotive appeared first on aftermarketNews.
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David Paja Named Senior Vice President And President Of Delphi Electronics and Safety
Paja is a seasoned executive with significant industrial connectivity and automotive experience. He was most recently president of Honeywell Security & Fire, a nearly $5 billion global leader in electronic detection and prevention technologies for residential, commercial and industrial applications. The post David Paja Named Senior Vice President And President Of Delphi Electronics and Safety appeared first on aftermarketNews.
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Universal Technical Institute Announces Termination Of Shareholder Rights Agreement
"In accelerating the termination of the rights agreement, the board considered a number of factors, including an assessment of the current environment, proxy advisory guidelines and feedback from shareholders," said Kim McWaters, chairman and CEO. "The board believes that terminating the rights agreement now rather than waiting until June, when it is due to expire, is in the best interest of the company and its shareholders." The post Universal Technical Institute Announces Termination Of Shareholder Rights Agreement appeared first on aftermarketNews.
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Sanel Auto Parts Hosts Mid VT Expo
Sanel Auto Parts Co. hosted more than 100 customers and 24 vendors on Feb. 9 at the Mid VT Expo in Rutland, Vermont. The post Sanel Auto Parts Hosts Mid VT Expo appeared first on aftermarketNews.
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You’re Invited! YANG Cleveland Regional Meetup Hosted By Babcox Media
Join us from 6-8:30 p.m. on Thursday, March 16 at Great Lakes Brewing Company in Cleveland for a fun evening of networking, beer tasting and more. The post You’re Invited! YANG Cleveland Regional Meetup Hosted By Babcox Media appeared first on aftermarketNews.
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Bosch Ranked By Fortune As No. 1 Motor Vehicle Parts Supplier For 3rd Consecutive Year
In Fortune’s Global 500 list, Bosch ranks among the top 100 companies, having moved up to 87 in 2017 from 150 in 2016. The post Bosch Ranked By Fortune As No. 1 Motor Vehicle Parts Supplier For 3rd Consecutive Year 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.