The Hot Rod Industry Alliance (HRIA) has released its 2006/2007 annual report. The SEMA council, which consists of more than 300 companies and represents the hot-rod niche, issues the report annually to update members about critically important information, including industry trends, educational opportunities and legislative activities.
The eight-page report points to positive growth for the hot-rod market. "For those of us in the (hot rod) industry, growth has been solid and stable," reads the report. "When looking back at the yearly retail sales numbers of the street rod and custom vehicle segment from 1997–2006, we have had an exceptional average annual growth rate of just over 7%. Compare this to an average 3% to 3.5% for the United States GDP growth rate for the same period, and this niche market is doing very, very well."
Readers will also learn about the SEMA Action Network (SAN), its activities and accomplishments and what can be done to help preserve the integrity and longevity of the industry.
Visit www.sema.org/hria to download a copy of the report and to learn about the many programs and opportunities available through SEMA and HRIA.