2023 Aftermarket Wheel Conversion Study
In Motion Brands analyzed online conversion rates for consumers purchasing wheels based on vehicle model years ranging from 2010 to 2023. The research aimed to identify the model years that generated the highest online conversions during the first six months of 2023 and examine the relationship between vehicle model years and the likelihood of consumers purchasing aftermarket wheels, with a focus on vehicles within the last 14 years.
Data was collected from In Motion Brands’ virtual wheel studio, which is utilized by numerous retailers’ websites, including automotive, tire dealers, and specialty shops across North America. The analysis focused on the period from January 2023 to June 2023, examining thousands of online conversions and the associated vehicle model years. Statistical analysis techniques were employed to determine the percentage distribution of online conversions across different model years.
The study revealed several key findings. The highest percentage of online conversions, accounting for 14% of total conversions, was observed for the 2022 model year. This indicates that new car owners were particularly motivated to purchase wheels, possibly driven by the appeal of the latest features, improved technology, and contemporary designs for personalizing their vehicles. The 2017 and 2023 model years tied for the second-highest position, generating an equal percentage of online conversions. The 2018 and 2019 model years also tied for the third-highest position, representing vehicles that are four to five years old and suggesting that consumers may be interested in buying wheels for newer used vehicles or vehicles with changed ownership.
Based on these findings, it can be concluded that the 2022 model year had the highest number of online conversions in the first half of 2023. The 2017 and 2023 model years followed closely in the second position, while the 2018 and 2019 model years ranked third. Moreover, the study indicated that consumers with newer model years are more likely to purchase aftermarket wheels and vehicles that are 4-7 years old present significant opportunities for aftermarket wheel sales.
These insights can be valuable for automotive marketers, dealerships, and aftermarket wheel retailers, helping them target their products and develop effective marketing strategies to maximize conversions and cater to consumer preferences. The study also highlighted the importance of digital positioning and technology deployment for aftermarket retailers to capitalize on the opportunities presented when warranties and maintenance programs expire on new vehicles. By being visible to their target audience and providing convenient ways of doing business, aftermarket retailers can drive their car count and leverage the potential offered by this trend.
In Motion Brands offers a suite of services that help companies of all sizes enhance their digital relevancy. Get a complimentary digital relevancy report today, or contact our team to learn more about our products and services, including the virtual wheel studio.