It may not come as a surprise to hear that the automotive industry is one of the largest in the entire world, and each year, tens of millions of cars are built and sold. The United States, Germany, and Japan produce some of the world’s favorite brands, and those nations and China are home to most of these car factories. Global sales of cars are bigger than ever, and cars are sold at dealerships and with private-party transactions as well. And it’s not just the cars themselves; there’s also a robust market for aftermarket parts for cars, ranging from Subaru upgrades and Subaru body kits to Cosmis wheels to Acura performance parts. Someone who owns a used Subaru might look into Subaru upgrades parts, and a skilled car enthusiast might install these Subaru upgrades all on their own. Other car owners may need an auto shop’s crew to install Subaru upgrades or Acura performance parts. Either way, such work can totally transform a car.
The Market of Cars and Aftermarket Parts
Plenty of statistics are being kept to track the size and growth of the auto industry in all its shapes and forms, and recent numbers show that this industry is still going strong. In fact, predictions say that the worldwide automotive aftermarket industry may reach a value close to $722.8 billion by the year 2020, and the American automotive aftermarket alone is worth some $287 billion as of 2017. The American aftermarket parts market may grow 3.6% through 2020 or so, keeping pace with the worldwide growth rate.
Plenty of cars are being bought and sold as well. In 2017, for a recent example, just over 73 million vehicles were sold around the world, including sales at auto dealers as well as private-party transactions. That was a 2.6% increase from 2016’s sales numbers, and predictions at the time suggested that 81 million cars would be produced by the end of 2018. Many sold cars are brand new ones, which may have cutting edge and modern performance, fuel efficiency, features, and appearance, but many older cars sell well, too. Some customers have modest demands on the performance of a car, so they aren’t likely to spend big money on a cutting edge, recent model. Other car buyers simply don’t have the budget for a new car anyway, and instead look for used ones at dealers and from private sales. It is estimated that around 14 million vehicles on the road today are 25 years old or older, an increase of eight million such cars since 2002. Used and old cars in particular may be fine recipients for Subaru upgrades and the like.
Upgrading a Car
A car shopper will make use of online catalogs and visit a dealer to find the perfect new car to buy, and that includes looking over new and used cars in person and taking them for a test drive. The buyer may then make use of on-site financing to afford a car, or they may buy one from a private seller. Either way, a car owner may expect to continue spending money on their vehicle, since new and used cars alike may sometimes need maintenance or repair. Used cars may have their wheels or tired replaced, and they may have body damage fixed or fluids refilled and filters replaced in the engine. Even the windshield may be replaced if it’s cracked and damaged.
But there’s more to this than mundane repairs. Many cars can be upgraded with new parts for both appearance and performance, and many car enthusiasts will have their own garage (or at least their driveway) where they can effect upgrades. How might this work? For aesthetics, a car may get a racing stripe or new paint, or a spoiler, body lights, wheel rims, and tinted windows for style and privacy. Meanwhile, the car may have a turbocharger or fuel lift pump put in to boost power and fuel economy. This may increase its top speed, horsepower, and acceleration, which may be a great idea for racing or for leisurely driving at high speeds in remote areas. The whole engine can be replaced with a new one, but it’s best to ask professionals at an auto shop to handle that particular job.
