Abstract
Research Overview
Vehicle Modification Enthusiasts Have Varied Interests by Vehicle Type, Modification Needs, and Components
Historically vehicle modification has been concentrated amongst experienced, hands on enthusiasts many of whom are involved in vehicle repair, maintenance, designs or component manufacturing as part of their professional careers. Style has become an essential element to vehicle design and modification allows those with older model vehicles to actively participate in the trend. The expansion of interest in vehicle modification has gone across the board to all types of enthusiasts. This has proved challenging for product developers and retailers as they try to assess interest and ultimately profitability success of specific products. In many cases it has meant that marketers need to find profitability in multi-sku lines to satisfy the needs of this broad and ever-developing group of enthusiasts.
Modifications is not a trend but rather a movement that has penetrated mainstream vehicle ownership that has created lucrative sales opportunities for aftermarket component manufacturers.
Much of the automotive industry saw vehicle modification as a grass roots fad similar to the hot rod era of the 1950fs. Although some products are following fad-like product development paths, the overall modification industry continues to grow because of the heavy investments made by the product manufacturers that have a vested interest in seeing the market progress. Frost & Sullivanfs recently release research indicates that approximately 43% of U.S. vehicle owners have modified their vehicle. Frost & Sullivanfs investigations of active modifiers indicated that 30% had modified 5 vehicles in their lifetime.
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