Industry News – New Pickup Products on the Rise Despite Slowing Truck Sales, SEMA Finds

Despite ever-decreasing new light-truck sales, the specialty-equipment industry continues to put out a growing number of new products for these vehicles each year, according to new SEMA research. Over the past three years, for example, there were 29 percent more products entered in the “Best New Van/Pickup/Sport-Utility Product” category within the SEMA Show’s New Products Showcase.

The 2007 SEMA Show showcased 137 new products in this category, compared to the 108 and 106 entered in 2006 and 2005, respectively.

Topping the list in 2007 were suspension parts (16 percent), including springs, spindles and full lowering kits. Air filter kits came in second, representing 9 percent of new products in this category, while truck bed accessories (6 percent, including tie-downs, bedliners, etc.) and exhausts kits (5 percent) came in third and fourth. While a number of these products were designed for both pickup and SUV applications, 45 percent of all the products in this category were made solely for pickups, an increase from the 40 percent in 2006.

These vehicles continue to be a target for innovative new specialty-equipment products for a good reason: They consistently top the list of new light-trucks sold in the United States. Despite drops in sales—a likely side effect of escalating gasoline prices—consumers demonstrate a continued need for pickups in their daily lives.

Source: Truck & SUV – Performance and Accessory Retailing – March 12, 2008