A short YouTube clip (Service Driver Revolution) hosted by Chris Collins and others discussing rapid growth and opportunity in the exterior car accessories (aftermarket) market. Speakers state the accessory business is valued at roughly $20 billion per year, note that buyers spend over $1,000 per vehicle (especially in the first 24 months of ownership, with year-two spend matching year-one), and argue dealerships currently capture little of this spend—implying significant opportunity for dealers. The video ends with Chris Collins' promotional outro (subscribe, call-in number, offers link).
Questions this video answers
$20 billion per year
Over $1,000 per vehicle (noted in the first 24 months of ownership)
The first 24 months of ownership (year two spending matches year one)
Chapters
The first article talks about the revenue growth of the exterior car accessories market is to be influenced by growing end use adoption, which is a fancy way of saying that exterior car accessories are becoming the cat's meow. They're projecting to be a multi, multi million, possibly billion dollar increase in the global market for exterior car accessories. And just stuff that we haven't thought of. But just saying that, you know that there's opportunity for dealerships in the aftermarket.
Wraps, tail lights, reflectors, and essentially just saying that.
There is a tremendous amount of opportunity that the whole.
Owners really want to do this and essentially that they spend as much money in year two as they do in year one on accessories. I thought that was pretty fascinating. But that's a, that's a growing opportunity for dealerships and I wanted to test you on this to see if you know, do you know how much the accessory business in the automotive industry is valued at?
Oh my gosh. The number is almost unbelievable.
Yeah. This is the first 24 months of ownerships. Ownership. How much people spend on accessories?
How much?
$20 billion.
Yeah.
A year.
Well, you can just, you know, you just look around on your driving. How many cars have some sort of personalization.
Yeah. And then, and then how much of that do you think comes from the dealership world?
Very little.
Not much at all.
Yeah.
So that's, that's kind of what we're going to talk about today, right?
A little bit.
But yeah, I'm really excited about that conversation. Man. The average buyer spending a thousand dollars plus on accessories in the aftermarket, over $1,000 per car. That's the news today.
Thanks so much for watching this clip of Service Driver Revolution. We're uploading new stuff every day, so make sure you subscribe and click the bell icon so you don't miss out. If you have a question you'd like us to answer on the show, call 8333 Ask SDR and we'll answer your question on the show. That's 8333 Ask SDR. For special deals on our books and training, head over to offers.chris collins inc.com now that's offers.chriscollinsinc.com I'm Chris Collins and I'll see you in the next video.
