CEA: Consumers Ready To Spend On Car
By Amy Gilroy -- TWICE, 2/28/2008
Arlington, Va. — Americans are spending more time in their cars and are planning to spend more money on in-vehicle consumer electronics products, particularly non-installed products.
Sales of in-vehicle CE products, including OEM devices in new vehicles, will grow at a rate of 13 percent in 2008 to more than $12.8 billion, according to a study by the Consumer Electronics Association (CEA).
The study found that a typical American spends nearly 17 hours a week in his vehicle. As a result, 38 percent of drivers intend to purchase and install an in-vehicle CE product over the next year. At the top of the list are remote vehicle starters (15 percent), in-dash navigation systems (13 percent) and car alarms (12 percent). There are also strong purchase intentions for technologies like satellite radio, HD radio and DVD players, CEA said.
Consumers are more likely to spend money on CE products that are not permanently installed in vehicles than on permanently installed products, the study found.
“Consumers want to the flexibility to take their CE devices in and out of the car. They also want to be able to switch out devices easily as technology shifts and advances,” said Steve Koenig, CEA industry analysis senior manager.
The study, called Automotive Electronics — What Consumers Have and What They Desire, was researched in December 2007. It is available free to CEA member companies and for a $699 to non-members at www.eBrain.org.
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