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Industry Manufacturers Forecast Increased Sales in 2010 A survey fielded by Fast Lane Research to more than 2,600 manufacturers
of automotive performance parts and accessories in late May 2010 reveals some interesting insights. For instance, 14% of manufacturers
expect total industry sales to be up more than 10% for 2010. Another 29% expect total industry sales to be up between 3% and
9% for the year. When it comes to appearance product manufacturers, 71% of them expect industry sales to be up between 3%
and 9% in 2010.
To keep perspective, everyone knows that 2009 was a really bad year
for automotive performance parts and accessories. In fact, 64% of manufacturers report that sales were down last year. It
is interesting to note though that 28% of industry manufacturers increased their business in 2009.
Some of what is happening in the automotive performance parts and accessories industry comes from changes in the competitive environment. More than a third of the manufacturers surveyed see an increase in the number of knockoffs of their products, one-in-four see an increase in the number of competitor's products and one-in-five have increased numbers of competitors. At the same time industry manufacturers realize that consumers are becoming more demanding. Beyond the usual pressure to lower prices 41% of manufacturers are experiencing increased consumer demands on product warranty, and a third are coping with increased demand for quicker delivery. Much of what we see in the survey results points to an industry in the midst of major changes, but one in which manufacturers are continuing to be optimistic about the future. Source: Fast Lane Research |
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