By Ashley Reyes
The U.S. economy and automotive industry have endured a number of disruptions during the past few years, from pandemics to supply-chain and production shortages to voracious consumer spending.
As the industry moves into 2023, knowing how automotive specialty-equipment businesses are doing since COVID-19 hit, including key trends and metrics on challenges and opportunities, will help businesses prepare for how to succeed in the year ahead.
In the new “SEMA State of the Industry– Fall 2022” report, SEMA members will find new data to help them understand what the supply-chain issues and rising prices mean for the industry, how new- and used-vehicle sales are doing and estimates of sales changes to help them make more informed business decisions.
“Businesses experienced record-high growth the past two years,” said Kyle Cheng, SEMA senior market research manager. “In this report, we found that while overall sales are beginning to taper off, most companies are up from 2019 levels. Automotive aftermarket businesses are optimistic for the future."
Access and download the report here: www.sema.org/research.
SEMA Showgoers can sign up for the seminar “State of the Specialty-Equipment Industry: Trends and Directions” on Tuesday, November 1, at 11:00 a.m., in room N254 to connect with SEMA market analysts in-person and get an in-depth look on the findings.