Companies within the specialty-equipment industry see business opportunity in the classic segment space, particularly as it applies to restoration and hot rodding.
According to new SEMA research, there are around 12 million model year pre-1990 classics on U.S. roads today. In 2021, 1.8 million of these vehicles were modified or accessorized—accounting for approximately $2.36 billion in retail part sales. Classic vehicles remain highly enthusiast platforms for modification, upgrades and restoration.
The finding come from the "SEMA Future Trends – January 2023" report, which provides a detailed analysis of where the industry is headed, including updated forecasts on the future of the specialty-equipment market, overall economy and vehicle trends.
Download the report now and get additional information on how industry performance has changed over the past few years, predictions for where the U.S. economy is going, insights on automotive sales and vehicle trends and how the industry is evaluating the EV market.