Jump to content

  • Welcome to Auto Parts Forum

    Whether you are a veteran automotive parts guru or just someone looking for some quick auto parts advice, register today and start a new topic in our forum. Registration is free and you can even sign up with social network platforms such as Facebook, X, and LinkedIn. 

     

SEMA Releases New Research on Vehicle Lifecycle Trends


Counterman

Recommended Posts

rssImage-5a271105e8b4afd269c37d2bc8d0b4b8.jpeg

New research by the Specialty Equipment Market Association (SEMA) is shedding light on the latest trends and developments in vehicle lifecycles and providing new insights for those who provide parts for accessorizing and modifying the more than 289 million vehicles in the US. 

Findings in the new

link hidden, please login to view
include:

  • Vehicles are staying on the road longer, a continuing trend. The average U.S. vehicle age is now at 12.6 years, its highest number in over a decade. Passenger cars are now an average of 14 years old (up from 13.6), while light trucks rose slightly to 11.9, from 11.8.
  • Used-car market ticks downward but remains historically high. The average listing price of a used vehicle in the U.S. is $25,251, as of July 2024. Car values have fallen faster than that of light trucks, with the sharpest decrease in overall vehicle value found in EVs (-11%). 
  • Stabilization of new vehicle prices offset by continued climb of interest rates. The average new vehicle price sits at $48,644, down slightly from the year prior, and halting a dramatic climb that began in the beginning of 2021. However, interest rates for new and used vehicles continue to hound buyers, remaining significantly higher than those offered in 2021-2022, regardless of loan-term length. 
  • Automakers are producing fewer entry-level vehicles. While new vehicle inventory in 2024 has reached a three-and-a-half-year high, small cars and other entry-level vehicles (those priced below $20,000) make up just 0.7% of the market, compared with 7% five years ago. This lack of affordability has a profound impact on younger people, who are historically more price-sensitive than older drivers.
  • Two decades of increasingly dependable vehicles. Since 2003, vehicles have exhibited fewer problems, highlighting a growing reliability that is a boon to consumers. However, recent years have yielded an increase in vehicle issues tied to new technology-based automotive features, including driving assistance and infotainment systems — a trend that could impact future dependability. 
  • The nation’s fleet of vehicles is growing. The past year saw the net addition of 3 million more vehicles to the roads, with crossovers (72.7 million) closing the gap with passenger cars (89.2 million) as the dominant segment of the entire fleet. However, compared to 10 years ago, vehicle registrations skew more heavily toward light trucks than cars.
  • The specialty-equipment aftermarket continues to grow — and is expected to keep growing. Specialty equipment retail sales in 2023 surpassed $52.3 billion and are forecasted to grow to more than $57 billion by 2026.

The research also reveals trends across four categories of vehicles (Classic, Aged, Core and Modern), highlighting age, popularity, usage and consumer spending habits. For accessorizing, pickups and muscle cars are the top choice for enthusiasts. Meanwhile, vehicles in the Aged category are driving spending for performance products, as a way to refresh their older vehicle. Aftermarket product spending for Modern and Core vehicles was primarily (59% and 54%) on accessory and appearance products, while 43% of spending on Classic vehicles was for performance products. 

The post

link hidden, please login to view
appeared first on
link hidden, please login to view
.

link hidden, please login to view

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Similar Topics

    • By Counterman
      link hidden, please login to view announced it has released Guided ADAS. This application enables Autel Calibration system owners to use their frame, targets and expedited setup, with OE software accessed in-house or via the Autel Remote Expert platform, to calibrate vehicles not yet covered by Autel tablet ADAS calibration software, according to Autel. “We are always playing catchup when it comes to coverage. That is just the reality of being an aftermarket software developer. Yet, technicians, especially those working in collision, need to calibrate new or newer vehicles. With Guided ADAS, Autel users can take advantage of all the benefits of their calibration systems—ease of use and efficiency—step-by-step instructions, optical positioning, unlevel floor compensation, and validated documentation, along with our quality targets, patterns, and calibrators—and use OE calibration software to complete the task,”  said Stewart Peregrine, senior executive of ADAS sales at
      link hidden, please login to view.   Guided ADAS, which is compatible with all of the Autel calibration systems: the Standard, MA600, IA800, IA900, or the new IA700 frames, allows shops to use their own OE subscriptions and tools or contract with a Remote Expert with OE software subscriptions for the setup specifications and to initiate ADAS calibration on new vehicles, according to Autel.
      There are three calibration scenarios available in the application
      The first allows the in-house or Remote Expert technician who has referenced the OE calibration data and has determined that the vehicle uses the same procedures and targets as a previous model year to retrieve the detailed setup instructions, including target type from the Autel calibration database. Autel offers calibration coverage for more than 40 brands and hundreds of models and model year vehicles sold in North America.  
      The second application allows technicians to input and save the specifications for completely new or existing vehicles with new-to-the-model ADAS components that lack historical parameter data.
      The third scenario allows technicians to use the Autel patterns, targets, and calibrators identified by the OE as acceptable for calibrating the identified vehicle. The technician would then determine the position identification method, i.e., radar location, front camera, or front of the vehicle, then input the distance and height of the target to meet the OE’s vehicle placement requirements. 
      Next, the user selects “Start Placement.” The system will display placement instructions for MA600 or Standard frame system users or activate the optical positioning cameras and guide the user to place the target and frame at the correct distance, offset, and angle to the vehicle when the IA700, IA800, and IA900 frames are used. 
      Remote Expert Platform
       The Autel Remote Expert platform enables technicians to contract with an experienced technician with OE tools or subscriptions to complete the calibration if needed. Remote Experts are also available for modular flashing, new ECU programming, and OE tasks currently not supported by Autel software. Released on the Autel MaxiSYS Ultra series of tablets over two years ago, the Remote Expert platform has seen incredible growth, averaging more than 4,000 monthly orders.   
      “Remote Expert is like a virtual lifeline from the technician to an Expert. Whatever the challenge, from a tricky diagnosis to module programming, a technician can use the platform to reach out to an Expert. ADAS calibration assistance has quickly grown in need. With the development of Guided ADAS, we foresee even greater growth,” Autel’s Director of Technical Operations, Maurice Miller, said of the platform. 
      The post
      link hidden, please login to view appeared first on link hidden, please login to view.
      link hidden, please login to view
    • By GreenGears Auto Limited
      The automotive industry is undergoing a profound transformation, driven by the synergistic forces of connectivity and autonomous driving. These technological advancements are poised to reshape the transportation landscape, promising safer, more efficient, and more accessible mobility solutions for individuals and societies alike.
      Connectivity, the ability of vehicles to communicate with each other and their surroundings, is laying the foundation for intelligent transportation systems that can revolutionize the way we navigate our roads. Autonomous driving, on the other hand, envisions a future where vehicles can operate without human intervention, offering the potential for unprecedented levels of safety and convenience.
      This in-depth exploration delves into the complexities of connectivity and autonomous driving, examining their underlying technologies, current progress, challenges, and the transformative impact they are expected to have on our world.
      The Evolution of Connectivity: From Isolated Vehicles to Interconnected Networks
      Historically, vehicles have been isolated entities on the road, relying solely on the driver's perception and decision-making. However, the advent of connectivity has transformed cars into sophisticated communication hubs, capable of gathering and exchanging vast amounts of data in real-time.
      This transformation has been made possible by a convergence of technological advancements, including:
      Sensor Technology: Vehicles are now equipped with a wide range of sensors, including cameras, radars, lidars, and ultrasonic sensors, that enable them to perceive their surroundings in detail. These sensors collect data about the vehicle's position, speed, proximity to other objects, and road conditions. Wireless Communication: Technologies like Dedicated Short-Range Communications (DSRC) and Cellular Vehicle-to-Everything (C-V2X) allow vehicles to communicate wirelessly with each other and with infrastructure elements like traffic lights and road signs. Cloud Computing and Data Analytics: The vast amounts of data generated by connected vehicles are processed and analyzed in the cloud, enabling real-time decision-making and the development of intelligent transportation systems. Types of Connectivity:
      Connectivity in the automotive realm manifests in various forms, each with its own distinct benefits:
      Vehicle-to-Vehicle (V2V) Communication: Enables direct communication between vehicles, allowing them to share information about their speed, location, and intended maneuvers. This creates a virtual awareness network, enhancing safety by alerting drivers to potential hazards and enabling cooperative driving behaviors.
      Vehicle-to-Infrastructure (V2I) Communication: Facilitates communication between vehicles and roadside infrastructure, such as traffic lights, road signs, and toll booths. This allows for optimized traffic flow, reduced congestion, and improved safety through real-time information sharing.
      Vehicle-to-Network (V2N) Communication: Connects vehicles to cloud-based services and applications, providing access to real-time traffic updates, navigation assistance, and other infotainment features.
      Vehicle-to-Pedestrian (V2P) Communication: Enables vehicles to communicate with pedestrians and cyclists, particularly in urban environments. This can enhance safety for vulnerable road users by alerting them to the presence of vehicles and potential dangers.
      Benefits of Connectivity:
      The widespread adoption of connectivity has the potential to unlock numerous benefits for individuals, society, and the environment:
      Enhanced Safety: By facilitating real-time data exchange and situational awareness, connectivity can help prevent accidents and reduce fatalities on the roads. Features like collision avoidance systems, lane departure warnings, and blind spot monitoring leverage connectivity to provide drivers with timely alerts and assistance.
      Improved Traffic Flow: Connectivity enables intelligent transportation systems to optimize traffic flow by adjusting signal timings, providing real-time traffic information, and recommending alternative routes. This can lead to reduced congestion, shorter travel times, and improved fuel efficiency.
      Enhanced Convenience and Comfort: Connected vehicles offer a plethora of features that enhance the driving experience, including:
      Remote vehicle access and control In-car entertainment and infotainment systems Personalized navigation and route optimization Real-time vehicle diagnostics and maintenance alerts Over-the-air software updates Environmental Sustainability: By optimizing traffic flow and promoting fuel-efficient driving behaviors, connectivity can contribute to reducing greenhouse gas emissions and improving air quality.
      The Path to Autonomous Driving: From Assisted to Fully Autonomous
      Autonomous driving, often referred to as self-driving technology, aims to automate the driving experience entirely, freeing drivers from the need to control the vehicle. This technology is being developed in stages, with increasing levels of autonomy, as defined by the Society of Automotive Engineers (SAE):
      Levels of Autonomous Driving
      Level Description 0 No automation. The driver is fully in control of the vehicle at all times. 1 Driver assistance. The vehicle provides limited assistance with tasks such as steering or accelerating, but the driver remains primarily in control. 2 Partial automation. The vehicle can control both steering and acceleration/deceleration under certain conditions, but the driver must remain alert and ready to take control at any time. 3 Conditional automation. The vehicle can perform all driving tasks under specific conditions, but the driver may still need to intervene in certain situations. 4 High automation. The vehicle can perform all driving tasks under most conditions, and the driver may be able to disengage completely. 5 Full automation. The vehicle can perform all driving tasks under all conditions, and there is no need for a human driver. Key Technologies Enabling Autonomous Driving
      The development of autonomous vehicles relies on a complex interplay of various technologies:
      Sensor Fusion: Combines data from multiple sensors like cameras, radars, and lidars to create a comprehensive and accurate picture of the vehicle's surroundings. Artificial Intelligence (AI) and Machine Learning: Enables the vehicle to perceive, interpret, and respond to its environment in real-time, making decisions based on complex algorithms and learned patterns. High-Definition Mapping: Provides detailed maps of the environment, including road layouts, lane markings, traffic signs, and other relevant information. Vehicle Control Systems: Actuators and control systems enable the vehicle to execute commands from the autonomous driving system, such as steering, accelerating, braking, and changing lanes. Current State of Autonomous Driving
      While fully autonomous vehicles (Level 5) remain a long-term goal, significant progress has been made in developing and deploying lower levels of autonomy.
      Advanced Driver-Assistance Systems (ADAS): Features like adaptive cruise control, lane keeping assist, and automatic emergency braking 1 are becoming increasingly common in new vehicles, representing Level 1 and Level 2 autonomy.   Robotaxis and Autonomous Shuttles: Several companies are testing and deploying autonomous vehicles in controlled environments, such as designated areas within cities or university campuses. These vehicles often operate at Level 4 autonomy, with limited human supervision. Commercial Applications: Autonomous trucks and delivery vehicles are being developed and tested for logistics and transportation applications, offering the potential for increased efficiency and reduced costs. Challenges and Concerns
      Despite the significant progress, several challenges and concerns remain on the road to fully autonomous driving:
      Technological Limitations: Current sensor technologies and AI algorithms still struggle to handle complex and unpredictable scenarios, such as adverse weather conditions, construction zones, or interactions with pedestrians and cyclists. Safety and Liability: Ensuring the safety of autonomous vehicles and determining liability in the event of accidents are critical concerns that need to be addressed through robust testing, validation, and regulatory frameworks. Public Acceptance: Gaining public trust and acceptance of autonomous vehicles will require addressing concerns about safety, job displacement, and the potential for misuse of the technology. Infrastructure: Widespread adoption of autonomous vehicles will necessitate significant investments in infrastructure, including intelligent transportation systems, high-definition maps, and communication networks. The Transformative Impact of Connectivity and Autonomous Driving
      The convergence of connectivity and autonomous driving has the potential to revolutionize the transportation sector and society as a whole:
      Improved Safety: By eliminating human error, which is a leading cause of accidents, autonomous vehicles have the potential to significantly reduce fatalities and injuries on the roads. Studies suggest that autonomous vehicles could reduce traffic fatalities by up to 90%.
      Increased Efficiency: Connected and autonomous vehicles can optimize traffic flow, reduce congestion, and improve fuel efficiency. This can lead to significant time and cost savings for individuals and businesses, as well as a reduction in greenhouse gas emissions.
      Enhanced Accessibility: Autonomous vehicles can provide mobility solutions for individuals who are unable to drive, such as the elderly or those with disabilities, enhancing their independence and quality of life.
      New Business Models: The advent of autonomous vehicles could give rise to new business models and services, such as ride-hailing, car-sharing, and delivery fleets. These models could transform the way we think about transportation, making it more accessible and affordable for everyone.
      Urban Transformation: Autonomous vehicles could lead to a redesign of urban spaces, with less need for parking lots and potentially more space for green areas and pedestrian zones.
      The Road Ahead: Navigating the Challenges and Opportunities
      The path to a fully connected and autonomous transportation future is filled with both challenges and opportunities. As technology continues to advance and regulatory frameworks evolve, we can expect to see a gradual but steady shift towards a more automated and interconnected transportation landscape.
      The automotive industry, along with governments, technology companies, and other stakeholders, will need to collaborate to address the challenges and ensure the safe and responsible deployment of these technologies. Public education and engagement will also be crucial in building trust.
       
      www.GreenGearsAuto.com
    • By GreenGears Auto Limited
      The U.S. auto market, a bellwether of the economy, is undergoing significant shifts, driven by several emerging auto trends. From the ongoing chip shortage to the rising popularity of electric vehicles (EVs), and the dominance of SUVs and trucks, these trends are shaping the future of the automotive industry and influencing consumer choices. This article takes a deep dive into these developments, highlighting key facts, figures, and market dynamics.
      Chip Shortage and Inventory Woes
      One of the most significant auto trends in recent years has been the global semiconductor chip shortage, which has severely disrupted the automotive supply chain. This shortage has led to reduced production and limited inventory at dealerships, pushing up prices for both new and used cars.
      According to Cox Automotive, new-vehicle inventory in the U.S. was at just 1.7 million units in early 2023, significantly lower than pre-pandemic levels. As of August 2024, total inventory stood at 2.91 million units, translating to roughly 68 days of supply. While this represents an improvement, the situation remains challenging, affecting consumers' ability to find and purchase vehicles at affordable prices.
      Rise of Electric Vehicles (EVs)
      The growing adoption of electric vehicles is another major auto trend transforming the U.S. market. With increasing concerns about climate change and advancements in EV technology, consumers are more frequently considering electric options.
      In 2023, EV sales in the U.S. surged by 65%, reaching nearly 800,000 units. The momentum behind this trend is expected to accelerate, with projections suggesting that EVs could account for over 50% of new car sales in the U.S. by 2030. Automakers like Tesla, Ford, and General Motors are ramping up EV production to meet the anticipated demand. Additionally, the federal government has set ambitious targets to reduce carbon emissions, offering financial incentives to further boost EV sales.
      Shift Towards SUVs and Trucks
      The preference for larger vehicles like SUVs and trucks continues to dominate the U.S. auto market, with light trucks and SUVs accounting for around 80% of all vehicles sold in recent years. In August 2024, sales of light trucks were up 8.9% year-over-year, reaching 1,115,544 units. This trend is driven by consumer demand for vehicles that offer practicality, versatility, perceived safety, and improved fuel efficiency.
      E-Commerce and Digital Retailing
      The way consumers buy cars is also evolving. The pandemic accelerated the shift towards e-commerce and digital retailing, as online car-buying platforms and virtual showrooms offered a convenient and safe alternative to traditional dealerships. While the majority of car purchases still happen in person, online sales are steadily growing, and industry experts predict that digital retailing will play an increasingly important role in future auto sales.
      Subscription Services
      Car subscription services represent another emerging trend disrupting the traditional vehicle ownership model. These services offer consumers the flexibility to access a variety of vehicles for a monthly fee, without the long-term commitment of ownership or leasing. Although still in its early stages, this model has the potential to reshape the way people think about accessing and using cars in the future.
      Technological and Regulatory Trends
      Beyond market trends, technological advancements and regulatory shifts are influencing the auto industry. Autonomous driving, connected vehicles, and advancements in battery technology are reshaping consumer expectations. Additionally, the federal government’s push for 50% EV sales by 2030 and stricter emissions regulations are accelerating the industry's pivot toward electric mobility.
      Key Facts and Figures
      Category Fact/Figure Year New Vehicle Inventory 1.7 million units Early 2023   2.91 million units (68 days of supply) August 2024 EV Sales Growth 65% increase 2023 Total EV Sales Nearly 800,000 units 2023 Projected EV Market Share Over 50% of new car sales By 2030 SUVs/Trucks Sales Share 80% of total vehicle sales Recent years Light Truck Sales Growth 8.9% year-over-year growth, 1,115,544 units sold August 2024 Average New Car Monthly Payment $700 Late 2022 Used Car Sales 40.6 million units 2021 Projected Autonomous Vehicle Market Over $60 billion By 2030 Public EV Charging Stations 46,000 stations 2021 Average EV Range 234 miles per charge 2022 Subscription Service Growth Emerging, disrupting traditional ownership Ongoing The Road Ahead: Navigating a Shifting Landscape
      The U.S. auto market is in a state of flux, with several auto trends shaping its future. The semiconductor chip shortage continues to impact production, inventory, and prices, while the rise of electric vehicles and the preference for SUVs and trucks are influencing consumer purchasing behavior. Meanwhile, the growing popularity of e-commerce, digital retailing, and subscription services is transforming how cars are bought and accessed.
      As these auto trends continue to evolve, the automotive industry must innovate and adapt to meet shifting consumer expectations. From automakers to dealerships and used car businesses like GreenGears Auto Limited, staying ahead of these trends will be crucial for thriving in the years to come. The road ahead will be defined by technological advancements, regulatory pressures, and changing consumer preferences, offering both challenges and opportunities for the U.S. auto industry.
       
      www.GreenGearsAuto.com
    • By Counterman
      link hidden, please login to viewannounced the addition of 55 new part numbers to its hose, water pump and drive system kit lines. The new product introductions include 41 new branched and quick connect hoses, covering primarily medium- and heavy-duty vehicle applications, 11 new water pumps and 3 new serpentine belt kit part numbers that allow Dayco to provide expanded coverage for millions of vehicles on the road, according to the company. The company said that for the past 18 months, Dayco’s product management team has significantly transformed its hose product line following a detailed evaluation of more than 3,000 part numbers, adding new numbers with exact fitment and redesigning old hose applications when necessary. Dayco said its hoses, which are designed to meet or exceed all relevant OE and SAE standards, feature spiral reinforcement for high burst strength and excellent heat resistance.
      The 11 new
      link hidden, please login to viewwater pump SKUs being introduced will cover 22 million light-duty vehicles on the road. Dayco added that its serpentine belt kit line is also expanding as the company continues developing innovative system solutions and recommending all drive system components be changed at the same time to improve performance and reduce comebacks. Coverage for over 3 million VIO was added in February and an additional 2+ million VIO will be covered with the three new kits. “We have continued to evolve our line review process to assure that we efficiently bring to market products the industry needs based on real data and input from the field,” said Jerry Reeves, manager of product management for Dayco North America. “This is just an example of the type of expansions you’ll continue to see from the Dayco team.”
      The post
      link hidden, please login to view appeared first on link hidden, please login to view.
      link hidden, please login to view
    • Brake & Suspension Clearance Event
    • By Counterman
      There is nothing simple about complex engine oil formulations. Effectively explaining to your customer how Valvoline’s Restore & Protect motor oil removes and prevents engine deposits may seem like a tough task.
          Dr. Michael Warholic, global technology director for Valvoline Global Operations, emphasizes the importance of visual evidence
      “Hey, look how this product performs,” said Warholic. “We have visuals showing that there’s a removal of deposits, that there is a reversing of the aging process in an engine. That’s a great case story to tell.”
          Warholic talks with Babcox Content Director Jason Morgan about the formulation process that sets Restore & Protect apart. The process involves a balance of various additives and components, tested rigorously in both laboratory and real-world conditions. It also involves combining base oils, viscosity modifiers, and a unique blend of additives. These additives include detergents to clean deposits, friction modifiers to reduce engine strain, and antioxidants to combat the breakdown of oil components. The goal was to create a motor oil that not only prevents the formation of new deposits but also removes existing ones, effectively rejuvenating the engine.
        “We wanted to do something different than everybody else,” said Warholic. “That’s what Restore and Protect does. It differentiates us from our competitors. It does something that no other oil does in the marketplace right now.”
           Restore & Protect could be considered a new category of motor oil that bridges the gap between conventional oils and high-mileage formulations. While high-mileage oils are designed for older engines, Restore & Protect is suitable for both new and aging engines. Its dual function of preventing new deposits and reversing existing ones makes it a versatile choice for a wide range of vehicles.
           This innovation is particularly valuable for engines operating under severe conditions, such as those used for towing or in high-traffic areas. The oil’s ability to handle these demanding environments while maintaining engine cleanliness offers a significant advantage over standard motor oils.
      “There’s always engine oil. Formulating is a little bit about give and take. The engine is a very complex machine. You have different temperatures, different pressures. It is really a very interesting field when you start digging into it.”
      “We do tons of data-driven testing. That’s what we live for.”
      The post
      link hidden, please login to view appeared first on link hidden, please login to view.
      link hidden, please login to view

×
  • Create New...