Light-truck accessories sales climbing — SEMA

DIAMOND BAR, Calif. (Sept. 8, 2015) — The latest numbers from the Specialty Equipment Market Association's 2015 SEMA Market Study indicate light-truck accessory sales have shown steady improvements in recent years, jumping 9 percent in 2014.

SEMA said that in addition to the steady rebound of the market, its study shows there has also been a slight shift in the types of products purchased by the niche's enthusiasts.

Light-truck accessory sales, impacted heavily by rising fuel prices and a struggling economy, plummeted after 2007, according to the Diamond Bar-based trade group. The segment, which historically is dominated by accessory and appearance sales, is now showing comparable sales trends for vehicle handling products, according to SEMA.

Products from the light-truck niche — which includes a combination of pickups, SUVs, CUVs and vans — also have steadily made their way to the annual SEMA Show's New Products Showcase in increasing numbers, the association said, adding that in 2012 about 19 percent of the new products in the showcase represented exhibitors in the SEMA Show's trucks, SUVs and off-road section. At last year's show, 22 percent of the new products in the showcase were entered by exhibitors in that same section.

SEMA said another segment of the light-truck accessories market, the off-road niche, consists of products specifically designed for off-road use, even if used on-road. “Due to the specialized products and applications, the niche was less affected by the recession as sales remained on a steady upward trend, reaching $1.7 billion at the retail sales level in 2014, which is the highest level in more than 10 years,” the trade group said. The products that led the segment in 2014 were wheels, tires and suspension accessories, reaching $325 million in retail sales for the year, according to its latest market study.

As for the vehicles that best represent the market, the Ford F-Series and Chevrolet Silverado remain the top-two-selling vehicles in the U.S. for the past several years, SEMA said. “While the Ford F-Series continues to be the unmistakable sales leader by a significant margin, sales were down almost 2 percent in 2014. Chevrolet Silverado sales grew more than 10 percent the same year, slowly closing the gap,” it said, noting that “the vehicle in the top 30 that experienced the most growth this year was the newly released ‘14 Jeep Cherokee.”

The SEMA Market Report, which takes an in-depth look at the products, sales channels and installation trends in the light-truck accessory market, is available for download — as are all SEMA's other reports — at no cost to SEMA members and at a nominal fee for non-members on the association's website by clicking here.