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

GM Eases Summer Production of Chevrolet Bolt
Workers assembling General Motors Co.’s Tesla fighter are taking a month off this summer amid lukewarm demand, a sign American car buyers are showing little interest in vehicles that rely solely on battery power to get from Point A to B. The Detroit auto giant’s plant in Orion Township, Mich., began producing the Chevrolet Bolt late last year, with output hitting more than 15,000 vehicles before the company’s typical summer shutdown at the start of July. That break usually spans ...
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Trump Tariffs Would Cost U.S. Automakers Billions, Study Finds
Exiting NAFTA and implementing tariffs or a border-tax system would drive up U.S. car costs and put thousands of supplier jobs at risk, not stimulate auto-making like President Donald Trump hopes, according to a Boston Consulting Group study. In a report released on July 19, the consultant estimated added costs to the U.S. auto sector from two policies being considered by Washington lawmakers: withdrawing from the North American Free Trade Agreement and introducing tariffs instead, or adopting a so-called border-adjusted ...
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Truckload Linehaul Rates Firm Up, Intermodal Rate Momentum Slows
Truckload linehaul rates appear to be stabilizing while intermodal rates continue moving higher but at a slower pace, according to two new reports. The Cass Truckload Linehaul Index increased 1.5 percent in June compared to the same time a year ago, hitting a level of 123. This marks the third straight month of year-over-year gains following downturns for 13 consecutive months. The June performance was up only 0.2 percent from the month before while the May level declined 1.5 percent ...
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Continental to Buy 8-10% Stake in Mapping Firm HERE, Report Says
BERLIN -- German auto supplier Continental AG is in talks to acquire an 8-10 percent stake in the digital mapping firm HERE, which is now controlled by Germany’s leading carmakers, Manager Magazin said on July 20, citing unnamed company sources. The talks are nearing conclusion and a contract is due to be signed in September, it added. Continental declined to comment on what it described as speculation. Carmakers BMW, Daimler and Volkswagen bought HERE for 2.8 billion euros ($3.22 billion) ...
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Oil Gains Amid Signs of Shrinking Stocks
Oil prices advanced today as stronger signs of a shrinking global glut and increased demand continue to emerge. Brent crude, the global oil benchmark, rose 0.51 percent to $49.55 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.43 percent at $47.12 a barrel. U.S. oil inventories have been falling for several months even with continued output growth, suggesting demand increases are gathering steam. Meanwhile, there have been reports ...
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Acoustic Wave Sensor Market Worth 868.3 Million USD by 2023 - MarketWatch
Acoustic Wave Sensor Market Worth 868.3 Million USD by 2023MarketWatchAccording to the new market research report "Acoustic Wave Sensor Market by Type (Surface Acoustic Wave, Bulk Acoustic Wave), Device (Resonator, Delay Line), Sensing Parameter (Temperature, Pressure, Humidity), Vertical (Military, Automotive, ...and more »
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Automotive Interior Market Worth 301.56 Billion USD by 2022 - PR Newswire (press release)
Automotive Interior Market Worth 301.56 Billion USD by 2022PR Newswire (press release)The report "Automotive Interior Market by Component (Central Console, Cockpit Module, Dome Module, Door Panel, Headliner, Infotainment System, Interior Lighting, and Seat), Vehicle Type (PV, LCV, and HCV), and Region - Global Forecast to 2022 ...and more »
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Global Automotive Robotics Market Analysis & Trends (2014-2025) - Research and Markets - Business Wire (press release)
Global Automotive Robotics Market Analysis & Trends (2014-2025) - Research and MarketsBusiness Wire (press release)The Global Automotive Robotics Market is poised to grow at a CAGR of around 26.8% over the next decade to reach approximately $29.47 billion by 2025. This industry report analyzes the market estimates and forecasts of all the given segments on global ...and more »
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Global $4.15 Billion Automotive Energy Recovery Systems Market 2014-2025 - PR Newswire (press release)
Global $4.15 Billion Automotive Energy Recovery Systems Market 2014-2025PR Newswire (press release)This industry report analyzes the market estimates and forecasts of all the given segments on global as well as regional levels presented in the research scope. The study provides historical market data for 2014, 2015 revenue estimations are presented ...and more »
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Global Automotive Selector Lever Market Research Report 2017 ... - Monotone Critic
Monotone Critic Global Automotive Selector Lever Market Research Report 2017 ...Monotone CriticAutomotive Selector Lever Global Automotive Selector Lever Market Report 2017 is a professional and deep research report in this field. For overview analysis ...and more »
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Global Automotive Lens Market Research Report 2017-2022 - World Of WallStreet
World Of WallStreet Global Automotive Lens Market Research Report 2017-2022World Of WallStreetAutomotive Lens Market A market study based on the ” Automotive Lens Market ” across the globe, recently added to the repository of Market Research, is titled 'Global Automotive Lens Market 2017'. The research report analyses the historical as well as ...Global Automotive ABS Sensor Market Research Report 2017-2022Monotone CriticAutomotive OLED Market 2017: Global Industry Analysis, Research Forecast, Analysis and Supply Demand Report 2022satPRnews (press release)Detailed examination of the ...
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Safe Driving Kit from the National Safety Council Aims to Drive Down Crashes
ITASCA, Ill. -- The National Safety Council released a first-of-its-kind Safe Driving Kit to help employers eliminate the number one cause of workplace deaths – car crashes. The Safe Driving Kit, sponsored by Wheels Inc., is a free online tool built to create safer roads and protect employees through multi-media resources and engaging materials. The kit addresses the key contributors to car crashes, including distraction, alcohol, other drugs, fatigue and seatbelt use. It also brings attention to lifesaving technology that ...
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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.