SEMA Future Trends: 74% of Industry Companies Expect Sales Growth in 2022
According to the “SEMA Future Trends—January 2022” report, nearly three-quarters (74%) of industry companies expect sales growth in 2022.
Overall, 2021 was a strong year for the industry amid high demand, with many companies reporting record growth, according to “SEMA Future Trends—January 2022.” The specialty-equipment market should continue to grow through this year at more muted levels before returning to more normal (pre-pandemic) growth for 2023 and beyond. In fact, nearly three-quarters (74%) of industry companies expect sales growth in 2022. Key impacts to keep an eye on include rising fuel costs, supply-chain disruptions and geopolitical instability in eastern Europe.
Want to see the latest economic and supply-chain projections for 2022 and beyond? Download the new “SEMA Future Trends—January 2022” report. 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 changing demographics of consumers and what it means for the industry in the future.
Download the report free today at www.sema.org/research.
NHTSA Approves Manufacture of Low-Volume Turnkey Replica Cars
Thanks to a final ruling issued by NHTSA, low-volume manufacturers of turnkey replica cars may now legally build up to 325 vehicles per year based on designs that are at least 25 years old.
Small-volume motor-vehicle manufacturers may begin selling replica cars that resemble vehicles produced at least 25 years ago now that the National Highway Traffic Safety Administration (NHTSA) has finalized a regulation to implement the SEMA-led Low Volume Motor Vehicle Manufacturers Act. SEMA worked with Congress to pass this federal policy change, which became law in 2015 as part of the Fixing America’s Surface Transportation Act.
“SEMA applauds NHTSA’s final rule allowing companies to market classic-themed cars,” said Daniel Ingber, SEMA vice president of government and legal affairs. “Regulatory barriers have previously prevented small automakers from producing heritage cars that are coveted by consumers. The roadblocks have been eliminated. This is a hard-fought victory for enthusiasts, small-volume manufacturers, their suppliers and all the men and women who will be hired to fill new jobs created by this law.”
The replica car law and implementing regulations allow a low-volume manufacturer to construct up to 325 such replica cars a year, and the vehicles are required to meet current model-year emissions standards. Low-volume vehicle manufacturers must first register with NHTSA, EPA and CARB before selling vehicles, and thereafter submit annual reports on vehicle production. Enthusiasts will still have the option to build a car from a kit, but now they may also purchase a turnkey replica car.
City of Calistoga Announces Plans to Purchase Famed Speedway
Officials have announced that the City of Calistoga is preparing to purchase the Napa County Fairgrounds in Napa, California.
Officials have announced that the city of Calistoga is preparing to purchase the Napa County Fairgrounds in Napa, California—
a move that would reopen the famed Calistoga Speedway half-mile dirt oval, best known for the annual “Louie Vermeil Classic.”
“Whether it’s saving a local track or voicing support for the RPM Act, it’s critical that the racing industry engages with elected officials,” said SEMA Director or State Government Affairs and SEMA PAC Christian Robinson. “We’ve all heard the phrase ‘the squeaky wheel gets the grease,’ right? The more people who get involved, the more likely we are to affect change.”
Calistoga Speedway is one of a few half-mile dirt tracks in the state, first opening in 1938. The track’s “Louie Vermeil Classic” honors Calistoga resident Louie Vermeil, the driving force behind auto racing at the Speedway located on the Napa County Fairgrounds. The track has not hosted the event since 2018. After a two-year absence due to COVID-related restrictions, it was moved to Silver Dollar Speedway in Chico, California, for 2021.
SEMA encourages contacting Napa County and city officials to voice support of the transfer of ownership and the reopening of the speedway.
SEMA Newsletter Launches New Look, Goes to Twice a Week
SEMA News email is now being delivered to readers and members twice a week—each Tuesday and Thursday.
SEMA’s longtime member- and industry-focused newsletter, SEMA eNews, has been updated and upgraded to bring you the membership information you want and the news you need in a colorful, easy-to-navigate layout.
Renamed “SEMA News,” the redesigned newsletter features the latest updates from the association, including SEMA Show exhibitor and attendee news, developments from SEMA’s Washington, D.C., office, the latest on emissions compliance, and SEMA Garage measuring sessions. The newsletter will also remain a key source for specialty-equipment market updates, including vehicle previews, tech news, new products, job openings, new hires and promotions, member and industry announcements and more.
In addition to the new name and look, the SEMA News email is now being delivered to readers and members twice a week—each Tuesday and Thursday. Originally sent on Thursdays only, the additional Tuesday SEMA News delivery will offer editorial flexibility to provide more timely news, and the opportunity to produce a “front-page” treatment to help readers quickly locate the majority of the news included throughout the week.
For more information on SEMA News, or to submit company announcements, contact email@example.com.
To sign up for the SEMA News email, visit www.sema.org/enews.