SEMA Market Research: Supply-Chain Issues Expected to Ease by End of 2022
According to the latest “SEMA Future Trends” report, more than 80% of industry companies described having severe or moderate impacts in 2021 because of supply-chain disruptions, including production delays, shipping issues and higher prices.
The ongoing supply-chain disruption has had ripple effects throughout the global economy, including the specialty-equipment industry. More than 80% of industry companies reported having severe or moderate impacts in 2021 because of it, including production delays, shipping issues and higher prices. However, this year should be better.
SEMA Market Research projects that the most pressing issues with the global supply chain should improve in the second half of 2022. However, prices may remain elevated for longer and likely into 2023.
Want to learn more? Interested in seeing what the forecast is for the specialty-equipment industry moving forward? Download the new report entitled “SEMA Future Trends—January 2022.” In it, you’ll find:
- The outlook for the specialty-equipment industry in 2022 and beyond.
- Projections for the U.S. economy, including consumer spending, inflation and employment.
- The outlook on the global supply chain and input prices.
- A look at the changing demographics of consumers and what that means for the industry in the future.
Download the report today at www.sema.org/research.
SEMA Young Executives Network Announces Rebranding
The Young Executives Network, a SEMA group dedicated to cultivating talent in the automotive aftermarket, is now the Future Leaders Network (FLN). The new name more accurately reflects the network’s more than 1,140-person membership, which includes employees ranging from entry-level staff to managers, trade workers, executives and business owners.
“The network supports talent and individuals who are aspiring to further their careers in the automotive aftermarket,” said FLN Chair Nick Caloroso. “FLN will continue to offer programs and resources that will help members advance their careers.
“More than half of our members do not fall into the executives category, and although we will retain the age requirement, the word ‘young’ is relative and implies inexperience. Regardless of the individual’s role, each member is aspiring to become a more effective and productive leader in the industry.”
Since 1989, the network has evolved and grown. In addition to year-round virtual and in-person mixers and gatherings, FLN hosts education sessions targeted to up-and-coming leaders. FLN also introduced the Launch Pad product-pitching competition to support emerging entrepreneurs and business owners.
To learn more about FLN or to sign up to become a member, contact FLN Director Denise Waddingham at firstname.lastname@example.org.
Toyota to Build $1.3 Billion North Carolina Battery Plant
By 2025, Toyota will have the capability to produce lithium-ion batteries for up to 1.2 million vehicles per year at the company’s new battery plant in Greensboro, North Carolina.
Toyota Motor North America announced that Greensboro, North Carolina, has been chosen as the location for Toyota’s new $1.29 billion automotive battery manufacturing plant, to be named Toyota Battery Manufacturing, North Carolina (TBMNC).
When it comes online in 2025, TBMNC will have four production lines, each capable of delivering enough lithium-ion batteries for 200,000 vehicles, with the intention to expand to at least six production lines for a combined total of up to 1.2 million vehicles per year. The $1.29 billion investment made by Toyota and Toyota Tsusho is partially funded from a total investment of approximately $3.4 billion previously announced on October 18 and is expected to create 1,750 new American jobs.
“The future of mobility is electrification, and the Greensboro-Randolph Megasite is the ideal location to make that future a reality,” said Ted Ogawa, CEO of Toyota Motor North America. “North Carolina offers the right conditions for this investment, including the infrastructure, a high-quality education system, access to a diverse and skilled workforce, and a welcoming environment for doing business. Today marks the beginning of a mutually beneficial partnership with the Tar Heel state as we embark on our journey to achieve carbon neutrality and provide mobility for all.”
Longtime Auto Journalist Marlan Davis Passes Away
Veteran Hot Rod and Car Craft technical editor Marlan Davis passed away January 15.
Veteran Hot Rod and Car Craft technical editor Marlan Davis passed away January 15, 2022, from complications of pancreatic cancer. He was 66 years old.
Born in New York in 1955 and raised in Sherman Oaks, California, Davis was a recent graduate from Cal State Northridge with a degree in political science when a chance encounter between his father and Hot Rod publisher Dick Day landed him a job in the West Hollywood mailroom at Petersen Publishing Company in 1977. Despite having virtually no prior experience in either journalism or hot rodding, Davis eventually worked his way onto the editorial staff of Hot Rod. For the next 40 years, he informed and entertained readers of the magazine with his written and photographic work, first as associate editor and later as technical editor.
In his later years, Davis designed and built his own house in the California high desert, from whence he devoted himself to various automotive projects while authoring “Ask Marlan,” Hot Rod’s monthly technical advice column, before retiring in 2019.