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Hot rodders keep spending despite recession. We love America.
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This would be you without a hot rod. What's to live for? Photo: Owen Ray
The gearhead penchant for spending boatloads of cash on car parts is continuing despite the weak economy and dismal job market, says the Specialty Equipment Market Association (SEMA) market research department. Hot rodders love America so much, that 65 percent of hot-rod enthusiasts spent more than $1,000 on accessories and performance parts in a 12-month period last year to help support the economy, according SEMA's annual Automotive Lifestyles Survey. Hot rodders are not just customizing cars and building horsepower, they are saving jobs and feeding families. Who knew we are such a philanthropic group? And given that most of the parts and accessories we buy are made in the U.S., we are helping keep jobs and money here where they belong.
The hot rod, custom and musclecar market supports a $2 billion dollar-a-year industry, and the hot rod aftermarket is continuing to grow. The pace of growth slowed between 2007-08 to about two percent—much less than the 20 percent growth between 2004-07—but it’s still a promising sign of health.
So why do we keep spending money on our project cars while the whole world is falling down around us? Are we just totally irresponsible and drunk on horsepower? While we may be drunk (on beer) I think that the reasons the hot rod world keeps on spending is more a matter of comfort and priorities. Just like the movie industry and liquor manufacturers are doing well despite the recession, the hot rod aftermarket is staying healthy because of the comfort and distraction it provides for its customer base. When times get this rough, folks turn to the activities they love most to stay sane and happy, and hot rodders turn their attention to the cars.
Selling the hot rod is at the bottom of the list of ways to make the rent next month, right below selling the children and quitting drinking. The level of comfort that comes from getting down to work and completing a project can hardly be paralleled by anything else in life (don’t tell your wife or husband this) and not every job has to cost thousands of dollars. There is always detailing, maintenance and other little jobs that can be done on the cheap.
Even when the time or money is not there to dump into the car, it’s nice to be able to bench race over some PBR in the garage with some buddies and jabber about what is going to get done next. Even when the credit card bills are piling up and the cable is about to be turned off, suddenly everything is kind of OK when the realization hits that things aren’t so bad that the hot rod has to go. If it gets to that point, hell, just go live in the damn thing.
Yea, so the job can be gone tomorrow, the rent won’t get paid and the lights will be turned off, but like Reverend Horton Heat says, “Things ain’t so bad, ‘cuz I’ve got my Galaxie 500.”
-- OBR
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