Bosak Motors accessorizes up to a fifth of all new Chrysler, Dodge, Jeep and Ram vehicles it sells, which adds $20,000 to $25,000 to its service department's gross profits each month and helps spur vehicle sales.
The accessorized vehicles have "built an identity for our dealership," said John Schultheis, general manager of the store in Merrillville, Ind. "It's complemented our parts and service business and it's grown our new-car business."
Bosak's success with accessory sales sets it apart.
"We know how much money dealers are missing and we know it by brand," said Steve Bruyn, CEO of automotive marketing research firm Foresight Research in suburban Detroit.
About 7 million new vehicles retailed annually are accessorized by owners within the first two years of ownership to the tune of about $1,950 apiece, said Bruyn. As Millennial buyers saturate the market, the desire to accessorize vehicles will continue to grow, he predicted.
Yet many dealers miss potential profits because they fail to consistently promote accessories. BMW retailers generally excel at accessory sales, a Foresight Research study found, but many volume Asian-brand dealers leave cash on the table.
"Not a lot of effort is expended by Hyundai, for example, in accessories. To the extent it's being marketed at all, it's probably being done by the dealer largely," said Bruyn.
A Hyundai spokesman said the automaker reaches out to its buyers twice with the opportunity to buy accessories: once at 0-3 months after purchase and again around 9-12 months after purchase.