Retail Industry
Industry: Email Alert RSS FeedMobile audio - What's Hot - Brief Article
DSN Retailing Today, Jan 6, 2003
The proliferation of 0% financing is proving to boost more than simply the sale of new cars; sales of after-market autosound and components got a lift as well. The Consumer Electronics Association had expected the category to remain flat in 2002, but surprisingly, sales rose 10% over last year, according to Sean Wargo, senior industry analyst at CEA.
"Whether getting products pre-installed in a new car or upgrading their systems in an older vehicle, the message is clear: Consumers want CDs in their cars," said Wargo. "More players are coming with MP3 playback and satellite radio compatibility as well, giving the consumer the ultimate in digital audio experiences for the car."
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Year-to-date sales of after-market autosound products increased by 10% to approximately $1.8 billion for the third quarter. Sales of separate audio components--electronic components and speakers--grew by 2% to $111.5 million. Year-to-date sales of these components grew by nearly 3% to $987 million.
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