The Growing Diesel Performance Market
The increased popularity of diesel engines has increased demand for performance parts and accessories.Surveys reveal that public perception of diesel engines has improved in recent years. A recent TechnoMetrica Market Intelligence survey showed 51 percent of respondents believe modern diesel engines are not the under-performing vehicles they once were, and 50 percent agree diesel engines are more fuel efficient than gasoline engines. In addition, respondents revealed they are willing to pay up to $1,700 extra for better fuel efficiency in a vehicle. This is significant because diesel engine options for light-duty passenger cars typically cost between $1,000 and $1,500 more than standard gasoline engines.
Gale Banks of Gale Banks Engineering predicts the diesel market share for cars and 1/2- ton pickups will grow to 16 to 18 percent over the next 15 years. The media has played a role in helping the public become receptive to diesel engines as performance-capable alternatives to gasoline engines. A growing number of publications are providing positive press for diesel engines, while an increasing number of companies in the diesel performance market are advertising in these magazines. In fact, the total number of advertising pages purchased by performance diesel companies in Diesel Power magazine soared 330 percent between 2005 (134 pages) and 2006 (577 pages). As diesel engines have become cleaner, quieter and more powerful over the past several years, a surge is becoming evident in the heavy-duty diesel pickup and light-duty diesel vehicle performance markets. According to a SEMA Automotive Lifestyles survey of diesel enthusiasts, the top three specialty equipment performance part purchases in 2006 were exhaust kits, air intake performance air filter replacements and cold air intake conversions. Reported purchases of performance air filters increased from 38.5 percent in 2005 to 50.1 percent in 2006, while purchases of cold air intake conversions more than doubled from 20.5 percent in 2005 to 45.6 percent in 2006. The survey also reveals a growing number of these consumers are turning to the internet to purchase parts and accessories. These internet purchases have come largely at the expense of custom shop/installers, with 17 percent of respondents reporting purchasing from a custom shop/installer, down from 36 percent in 2005.
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