Industry Indicators: U.S. Economic Outlook Improves as Vaccinations Accelerate
Economic activity improved significantly in the early months of the year, according to the latest edition of “SEMA Industry Indicators.” The rate of vaccinations is accelerating, and the number of COVID-19 cases, while still high, is improving. Additionally, the COVID relief bill likely will push economic growth above forecasts for the back half of 2021 and through much of 2022. All of that paints a much better outlook for the economy as it moves past the pandemic.
Still, there are some potential risks. Inflation is a possibility, and prices in some segments of the economy are moving higher. Supply chains are constrained because of disruption from the virus. Additionally, consumers spent more money on goods over the past year, as many services were closed. Consumers stayed at home and bought items such as electronics and auto parts. As the country opens and restrictions lift, consumers may divert more money to things they haven’t been able to do, potentially slowing growth for certain segments of the economy.
For more information, download the new March “SEMA Industry Indicators” report today, and for a more in-depth, longer-term look at the path of recovery for the industry and the economy, check out the “SEMA Future Trends—January 2021” report at www.sema.org/research.
New Dates, Location Announced for 2021 INA PAACE Automechanika Mexico
New dates and a new location have been announced for the 2021 INA PAACE Automechanika Mexico. After careful consideration, and in light of the ongoing COVID-19 developments in Mexico and globally, this year’s edition will be held December 1–3, 2021, at the San Luis Potosí Convention Center in San Luis Potosí, Mexico.
San Luis Potosí is easily accessible and is an automotive hub for various plants, including both General Motors and BMW, along with more than 250 Tier 1 and Tier 2 suppliers. INA PAACE Automechanika Mexico showcases the latest technology and advancements over the entire spectrum of the automotive aftermarket industry. Registration information will be available in the coming weeks.
For more information, contact the INA PAACE Automechanika Mexico team at www.ina-paace-automechanika-mexico-city.us.messefrankfurt.com/mexico-city/en/contact.html.
SEMA Announces Plans for West Hall at LVCC for the 2021 SEMA Show
SEMA is on track to deliver an exciting in-person SEMA Show at the Las Vegas Convention Center (LVCC) November 2–5, 2021. With exhibits included in the LVCC’s newly constructed West Hall, the entire SEMA Show floorplan will be optimized and offer room for new features and enhancements for an improved overall attendee experience.
“The industry is eager to reconnect,” said Chris Kersting, SEMA president and CEO. “The return to an in-person SEMA Show gives resellers a chance to engage with an amazing gathering of suppliers, new products, stunning vehicle builds and networking opportunities. We are excited to provide our industry with a world-class marketplace that will help them grow and expand their businesses.”
The LVCC’s new West Hall is a 1.4-million-sq.-ft. facility completed in January during the COVID-19 shutdown. Details on additional resources, including a new online component that focuses on manufacturers, new products, feature vehicles and educational resources, will be announced as they are finalized in the coming weeks. For all the latest developments, see “The In-Person SEMA Show Is Back” on p. 50 of this issue.
Registration Open for SEMA Nordic Trip
Join SEMA on the first SEMA Nordic trip, August 25–29, 2021, in Stockholm, Sweden. Participants will learn the potential for their products in the area’s performance and classic-car paradise. Meet with top trade buyers who enable the half-century-old craze in Sweden and the surrounding countries of Norway, Finland and Denmark to restore and upgrade American classic cars.
The region hosts the headquarters of the European drag-racing championship. Rally racing and drifting also enjoy fan support. A robust sportsman program allows enthusiasts to use their more modestly upgraded rides in numerous competitions. High disposable income, a love of American vehicles and products, and a passion for personalization make this an attractive region.
The SEMA Nordic trip is the fifth region for the popular SEMA Business Development Programs. These low-cost, turnkey overseas events bring together SEMA-member manufacturers and buyers from key global markets. The price of the upcoming trip includes hotels, a tabletop display, meals and networking events. Prices start at $4,500 per company, not including flights to/from the United States. U.S. government grants (federal and state) are available to help defray the cost for qualified companies.
For more information, visit www.sema.org/nordic or contact Linda Spencer at email@example.com.