Research

CUVs represent fast-growing segment and growth opportunity for industry

According to a new report from SEMA, full-size pickups, the Jeep Wrangler, and muscle cars, which have traditionally been popular in the industry, remain highly desired accessory vehicles. Meanwhile, Crossover Utility Vehicles (CUVs) are the fastest-selling vehicle segment and may present a growth opportunity for the industry.

SEMA research report entitled “SEMA Accessory Opportunity Report: Top Cars and Trucks,” provides data-driven insights into the opportunities available to the automotive aftermarket. Designed to help businesses understand which cars and trucks consumers are choosing to personalize, the SEMA Accessory Opportunity Report provides an overview of the top vehicles for accessorization and outlines emerging segments within the $44.6 billion industry.

“The new SEMA report represents the first time we’ve been able to quantify the best opportunities for vehicle customization,” said Gavin Knapp, SEMA Director of Market Research. “Manufacturers and resellers can use this report to understand the current hot vehicles and emerging opportunities.”

Although sales for traditional passenger cars have decreased over recent years, more than 20 million are projected to be sold from 2020-2026. Automotive aftermarket businesses will benefit by understanding where the industry is headed.

While many drive trucks and sports cars, young drivers are also gravitating toward customizing small cars and luxury brands, such as the BMW 3 and Subaru Impreza. These types of vehicles are often the entry points to the industry for younger drivers.

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