Aftermarket
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Aftermarket
Aftermarket is an umbrella term for the collective network of
vendors who design and sell
vehicular
components that are intended to replace the stock manufacturer's parts.
The two main reasons for this are (i) in order to alter the appearance
or performance of the vehicle; or (ii) as a straight replacement for a
stock item at a lower price, with no intention to cause such a change in
appearance or performance.
The criteria used to design a vehicle are based in large part on the features
that would sell to the widest audience at a reasonable price for the vehicle's
class. Reliability, price, and
fuel
economy are typically factors in the decision-making process.
The aftermarket has become the means by which one may customize one's vehicle
to suit a particular personality, to provide a role not satisfied by the stock
vehicle, or to simply stand out. Aggressive styling and/or performance
enhancements, which might not be important to the average buyer, usually make up
a significant portion of the aftermarket. In fact, some parts come bundled
together within a larger kit that one may choose to install in order to alter
one's vehicle to a more significant degree.
The aftermarket also caters for the wish of many vehicle owners to have
access to replacement parts that are less expensive than the official spare
parts produced by vehicle manufacturers.
Industry
In the United States, in 2004, the automotive aftermarket industry accounted
for $257B in sales. The industry employs 4.54 million people in the U.S.
External links
References
- Aftermarket Factbook, 2005
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