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

Automotive safety system market development trends, competitive landscape and key regions available in new report - WhaTech
WhaTechAutomotive safety system market development trends, competitive landscape and key regions available in new reportWhaTechDeepresearchreports.com adds “Global Automotive safety system Market Research Report 2016” new report to its research database. The report spread across 115 pages with table and figures in it. 2016 Global Automotive safety system Market Report is a ...and more »
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Guest Commentary: The Power Of Brands
Let’s talk about what a brand is. Is it a logo? Not really. Is it a name? No. The post Guest Commentary: The Power Of Brands appeared first on aftermarketNews.
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US Motor Works Finalizes Derale Performance, Pacer Performance Acquisition
US Motor Works, Pacer and Derale are officially one entity as of Dec. 1. The post US Motor Works Finalizes Derale Performance, Pacer Performance Acquisition appeared first on aftermarketNews.
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Gold Eagle Co. Acquires e-Commerce Brand TriNova
The acquisition expands the company's portfolio of premiere cleaners and protectants, reaching a new customer base. The post Gold Eagle Co. Acquires e-Commerce Brand TriNova appeared first on aftermarketNews.
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KYB Americas Corp. Announces Key Hire And Organizational Change
Pascal Hounguevou was recently promoted to a key position within the Procurement Department and Nick Tufo is a new territory sales manager for the Northeastern U.S. The post KYB Americas Corp. Announces Key Hire And Organizational Change appeared first on aftermarketNews.
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PACCAR Recognizes Top Performing Suppliers In North America
Through the Supplier Performance Management (SPM) program, suppliers and PACCAR cross-functional teams collaborate to identify performance enhancements and to develop product innovations. PACCAR has recognized 50 suppliers since the launch of the SPM program in 2014. The post PACCAR Recognizes Top Performing Suppliers In North America appeared first on aftermarketNews.
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PPG Salutes Paralyzed Veterans Of America At SEMA
Booth visitors waiting to meet elite painters had a chance to write thank-you notes to Paralyzed Veterans of America members in appreciation of their service to the nation. Monetary donations also were welcome, and more than $3,100 was raised for the organization. The post PPG Salutes Paralyzed Veterans Of America At SEMA appeared first on aftermarketNews.
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Lear Introduces ‘Crafted By Lear’ At The Center For Craftsmanship In Southfield, Michigan
At the heart of Crafted by Lear is the new Center for Craftsmanship, a dynamic studio housing a world-class team of seasoned seating design and engineering professionals. The post Lear Introduces ‘Crafted By Lear’ At The Center For Craftsmanship In Southfield, Michigan appeared first on aftermarketNews.
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Jack Roush, Respected Team Owner And Entrepreneur, Receives 2016 NASCAR Buddy Shuman Award
Roush was a dominant force in Sports Car Club of America and International Motor Sports Association road racing during the 1980s, winning more than 100 races and 24 national titles. The post Jack Roush, Respected Team Owner And Entrepreneur, Receives 2016 NASCAR Buddy Shuman Award appeared first on aftermarketNews.
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University Of Michigan-Dearborn Students Help Shape The Vehicle Of The Future By Participating In DENSO’s MDrive Car Share Study
The students will provide feedback about car sharing and offer insights on helpful or unnecessary features in current car models. The post University Of Michigan-Dearborn Students Help Shape The Vehicle Of The Future By Participating In DENSO’s MDrive Car Share Study appeared first on aftermarketNews.
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Standard Motor Products Releases SMP Parts App 2.0
The revamped SMP Parts App 2.0 features an array of new tools, including competitor UPC scan, license plate lookup and cross reference search. The post Standard Motor Products Releases SMP Parts App 2.0 appeared first on aftermarketNews.
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<div>AutoMatters & More: The SEMA Show Turns 50 - Del Mar Times</div>
Del Mar TimesAutoMatters & More: The SEMA Show Turns 50Del Mar TimesIt offers its members research, training, education, manufacturing support services, legislative advocacy, group-buying discounts, networking events and more. For four days each year it hosts the SEMA Show, one of the largest trade-only shows in Las Vegas.
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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.