'Fast and Furious' Spurs Growth in $26 Bln Auto-Parts Market - more rice on the way:)
11-04-2002, 07:56 AM
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'Fast and Furious' Spurs Growth in $26 Bln Auto-Parts Market - more rice on the way:)
Fountain Valley, California, Nov. 4 (Bloomberg) -- Melissa Mohr says she hadn't done much with her 1996 Honda Civic sedan before she saw the street racing movie ``The Fast and the
Furious'' in 2000. Since then, she's added $18,000 in parts to the
car.
Enthusiasm from owners of small cars like Mohr's Civic is
expected to increase sales of accessories for subcompact vehicles
to $2.5 billion next year from $1.5 billion this year as the $26
billion-a-year car-and-truck accessories market increases to $30
billion in the next five years, auto executives said.
Automakers such as Toyota Motor Co. and Ford Motor Co. are
encouraging U.S. buyers to add accessories to their cars and
trucks to increase sales of their own parts and the popularity of
models so they will need fewer tricks like no-interest loans or
incentives to attract sales, executives said.
Auto Muscle
All the major manufacturers will have displays this week
among the 6,000 booths of parts such as running boards, engine
superchargers and add-on moldings at the four-day Specialty
Equipment Manufacturers Association show in Las Vegas. The SEMA show, which isn't open to the public, is expected to attract
86,000 industry executives to see the latest in vehicle accessories Tuesday through Friday.
The show combines technology from at least 30 publicly traded
companies such as wheelmaker Superior Industries International and engine partsmaker Edelbrock Corp., along with thousands of small companies -- many that started in owners' garages for a flea
market-type gathering of auto muscle.
Automakers will display several hundred of their own cars and trucks and donate hundreds more to try and get suppliers to develop parts for them. That's because almost all of the $26 billion in parts sales are from suppliers, not automakers, said
Chris Horn, spokesman for the Specialty Equipment Manufacturers
Association.
Movies like Universal Studio's ``The Fast and the Furious,'' about street racing in California, have helped foster a movement to make cars into hotrods that rivals the muscle-car heyday of the
1950s and 1960s, SEMA's Horn said. This time around Honda Motor Co.'s Civic model have replaced a Chevrolet or Dodge as the hotrod, he said. U.S. automakers have been trying to catch up, he said.
Making It Faster
Honda benefited from the high auto insurance costs of General
Motors' Pontiac Firebird and Chevrolet Camaro and Ford Motor Co.'s Mustang performance cars, said Gordon Wangers, president of Automotive Marketing Consultants.
Ford has had the most success of U.S. automakers in regaining
some of its stature as a modern-day muscle car with the Focus car
model, Horn said. This year Chrysler will have 104 cars and trucks
on display to try to improve its reputation, Schroer said.
Furious'' in 2000. Since then, she's added $18,000 in parts to the
car.
Enthusiasm from owners of small cars like Mohr's Civic is
expected to increase sales of accessories for subcompact vehicles
to $2.5 billion next year from $1.5 billion this year as the $26
billion-a-year car-and-truck accessories market increases to $30
billion in the next five years, auto executives said.
Automakers such as Toyota Motor Co. and Ford Motor Co. are
encouraging U.S. buyers to add accessories to their cars and
trucks to increase sales of their own parts and the popularity of
models so they will need fewer tricks like no-interest loans or
incentives to attract sales, executives said.
Auto Muscle
All the major manufacturers will have displays this week
among the 6,000 booths of parts such as running boards, engine
superchargers and add-on moldings at the four-day Specialty
Equipment Manufacturers Association show in Las Vegas. The SEMA show, which isn't open to the public, is expected to attract
86,000 industry executives to see the latest in vehicle accessories Tuesday through Friday.
The show combines technology from at least 30 publicly traded
companies such as wheelmaker Superior Industries International and engine partsmaker Edelbrock Corp., along with thousands of small companies -- many that started in owners' garages for a flea
market-type gathering of auto muscle.
Automakers will display several hundred of their own cars and trucks and donate hundreds more to try and get suppliers to develop parts for them. That's because almost all of the $26 billion in parts sales are from suppliers, not automakers, said
Chris Horn, spokesman for the Specialty Equipment Manufacturers
Association.
Movies like Universal Studio's ``The Fast and the Furious,'' about street racing in California, have helped foster a movement to make cars into hotrods that rivals the muscle-car heyday of the
1950s and 1960s, SEMA's Horn said. This time around Honda Motor Co.'s Civic model have replaced a Chevrolet or Dodge as the hotrod, he said. U.S. automakers have been trying to catch up, he said.
Making It Faster
Honda benefited from the high auto insurance costs of General
Motors' Pontiac Firebird and Chevrolet Camaro and Ford Motor Co.'s Mustang performance cars, said Gordon Wangers, president of Automotive Marketing Consultants.
Ford has had the most success of U.S. automakers in regaining
some of its stature as a modern-day muscle car with the Focus car
model, Horn said. This year Chrysler will have 104 cars and trucks
on display to try to improve its reputation, Schroer said.
11-04-2002, 12:39 PM
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'Cooter
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Originally posted by zeroday
where did you find that story?
where did you find that story?
u can get just about any sort of news on just about any topic through Bloomberg
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