Auto accessories more important than previously thought

Foresight Research, an automotive research firm based in Rochester MI, has discovered the availability of automotive accessories for the car a customer wants to buy is far more important than dealers ever imagined.

Foresight Research conducted 7,458 interviews with new car buyers to formulate their syndicated 2011 Automotive Accessory Market Report, which included virtually all car makes, models and types and came to some unexpected conclusions.

It turns out 44 percent of all buyers expect to spend at least $250 up to $1,810 on accessories. The average spent on accessories per new vehicle sold equals $815. In fact, the availability of accessories was paramount to the selection of a dealer by 23 percent of all buyers

In contrast only 39 percent of sales personnel actually try to sell accessories and less than half of auto dealers have an accessorized vehicle in their showroom. Nevertheless, accessories played an influential role in the sale of 12 percent of all vehicles sold in the last year.

“The auto industry intuitively knows that accessories are important on pick-up trucks and sport utility vehicles, however, it's surprising to see the dramatic influence that accessories have across the board on all vehicle types," said Steve Bruyn, CEO of Foresight Research. "Yet, despite the strong consumer support and desire for accessories, our research shows that dealers currently under serve the market and are therefore missing out on huge sales and revenue opportunities."

The accessory report includes breakout data by vehicle brand, segment, geography and accessory type whether related to appearance, performance, comfort, utility, safety or protection. It also describes what marketing strategies work best. Subscribers to the Foresight study can mine results based on specific interests and make informed decisions for future accessory programs.