Filler for eNews
Thu, 02/28/2008 - 00:00
Thu, 02/28/2008 - 00:00
Dates and locations for several upcoming SEMA-sponsored shows and activities have been announced. Details are:
>> SEMA Webinar: Analyzing the Income Statement: The Nuts and Bolts, March 6, 10:00 a.m. (PST)
>> SEMA National Education Conference, April 10–11, 2008 Nashville
>> SEMA Washington Rally, May 14–15, 2008, Washington, D.C.
>> PAACE Automechanika Mexico, July, 9–11, 2008, Mexico City
>> 2008 Aftermarket eForum, July 14–16, 2008, Hyatt Regency O'Hare, Chicago
>> SEMA Show 2008, November 4–7, 2008, Las Vegas
For association-related travel, contact Manya Petropaki (manya.p@travelstoreusa.com) at Travel Store USA, 949/930-9268.
Looking for Some Extra Publicity for Your Industry Event?
Publicize your events through the SEMA Online Calendar of Events located at www.sema.org/calendar. The calendar is stocked with information on events taking place throughout the year, broken down by month. Examples of events featured in the calendar include consumer shows and club events, educational and training workshops, conventions and trade shows, races and more.
To submit your event details for the calendar, e-mail company name and the date(s), location and name of the event to Shirley Presecan at shirleyp@sema.org.
Thu, 02/28/2008 - 00:00
Consumers are holding onto their light trucks a bit longer than they have in the past. Vehicle registration data recently released by R.L. Polk & Co. shows that in 2007, the median age of all light trucks registered in the United States reached 7.1 years, a steady increase from 6.8 in 2006 and 6.6 in 2005. According to the Polk data, the surge of SUVs and pickups purchased in the '90s is pushing up the median age of light trucks on the roads today.
Still, car owners are holding onto their vehicles two years longer. Although remaining flat over the last two years, the median age of cars registered in the United States stayed at 9.2 years in 2006 and 2007 while increasing from the 9.0 years in use for 2005. Of the 248 million vehicles currently on the road today, the biggest percentage of cars and light trucks were purchased new in the late '90s and early this decade, respectively.
Thu, 02/28/2008 - 00:00
As gas prices begin to rise up to well above a national average of $3 a gallon (regular gasoline), consumers are becoming more financially strained by the cost of refueling. In an ongoing Technometrica Market Intelligence survey conducted last year, 63% of consumers pointed out that gasoline prices are "hurting" them financially, which helps explain why sales of hybrid vehicles increased 39% last year.
Automakers continue to roll out new fuel-efficient production vehicles, emphasizing their progress at major auto shows, yet one of the most recent newsmakers was the Loremo concept car that achieves a claimed 130–150 miles per gallon. The German automaker plans to begin production of the car for European markets in 2009 and for the United States a year later, according to a recent article posted on MSN Autos.com.
Details of the car's specs have been few, though two models are planned: An LS version powered by a 20hp, two-cylinder turbodiesel, and a GT that gets an additional 30hp from a three-cylinder engine—pushing it from 0–62 mph in less than 10 seconds. The car's total weight of around 1,300 pounds and 0.22 coefficient of drag helps it achieve its fuel economy ratings. Loremo says it will sell its base model in Europe for around $22,000, according to MSN.
Whether or not the Loremo ends up in the United States is debatable, but the demand for more fuel-efficient vehicles has not abated. Even specialty-equipment companies have latched onto the opportunity to serve consumer demand for fuel economy, as evidenced by the growing number of air filters/intakes and computer engine tuners entered into the performance-street section of the 2007 SEMA Show's New Products Showcase, up 66% from the previous year. Both of these products help improve the way fuel mixes with air prior to combustion, thus adding more miles driven per gallon of gasoline, as well as enhancing performance.
Source: "Loremo: The 'Low Resistance Mobile,'" Jacob Gordon, MSN Autos.com; SEMA Research and Information Center
Thu, 02/28/2008 - 00:00
Compact-performance enthusiasts have new platforms coming their way in 2008 that could alter the landscape of the segment. In recent months, many of the major automotive shows have been stages for new introductions. While perennial favorites, such as the Nissan 350Z and Honda S2000, will remain unchanged for 2008, the news of additional rear-wheel-drive cars will tempt many people into this burgeoning segment.
Despite BMW's new iconic M3 release, it has also introduced their smallest model within their range, the 1 Series, to appeal to customers interested in an upscale, affordable car. Production began in 2004 with an update last year, but this is the first time it has been offered in the United States. Notable features include the aforementioned rear-wheel-drive, dynamic handling and a powerful engine borrowed from the 3 and 5 Series sedans. If the price proves to be reasonable for tuners, it has the potential to shake up market share.
While not entirely a concept car, Hyundai's Genesis Coupe could be a similar powerhouse. On paper it has the characteristics to disrupt the leaders. It also hosts rear-wheel-drive and big power, but is slated to start at an attractive price point in the low-to-mid $20K range. The concept mock-up was fitted with trick parts and appeared to be accessory-friendly. Press coverage and response from the Los Angeles Auto Show was overwhelmingly positive.
Infiniti has a new G sedan, the G37, to replace its predecessor and Skyline-based G35. While the exterior has been remodeled, it is not an entirely noteworthy departure from the last model, but a sensible update. However, the chassis has been strengthened and the engine has been bumped up in power and features. It should continue to be a widely popular coupe.
While on the subject of Nissan's Skyline, the Godzilla heading to our shores is the first-for-North-America GT-R supercar. Its output is impressive and bargain-based compared to similarly performing vehicles, but it will be less attainable for enthusiasts than they would imagine. The buzz-machine has been cranked up so high over the course of its long development that when it arrives in showrooms, the mark-up could be extreme. Furthermore, concerns about its highly secure ECU and turbochargers, which are integrated directly into the exhaust manifold, will require extensive and expensive work to improve upon. Nevertheless, one can expect every single unit to have an eager buyer waiting.
In a more practical scope, the three famed all-wheel-drive factory-tuned rockets have been updated. Mitsubishi's Lancer Evolution X, Subaru's Impreza WRX STI and Volkswagen's R32 already have loyal followings and will perform well in the specialty-equipment market. Good for daily driving and weekend track days, all three models come with loads of power, big brakes and sticky tires. Aside from the Subaru becoming a hatchback, the formulas have not changed.
Not typically seen as a sport compact, the SMART Fortwo should be on everyone's radar. It has a huge global following and trendy appeal, much like the Honda Fit before it was brought over. Despite a dearth of overwhelming performance features, it could become a nice target for accessorizing. Wheel options could be problematic as it has an uncommon three-lug bolt pattern.
The other latent change in market conditions could come on the heels of modern clean diesel technology. The inclusion of diesel engines in the light-truck market is almost a non-issue as the perception is in line with performance. In the United States, however, the perception of small passenger cars using these engines does not coincide with their actual performance.
New platforms could change that. Volkswagen, Mercedes and even Subaru will be releasing models shortly. With the success of Audi in Le Mans, enthusiasts here could adopt the same impression people have around the world, especially considering Volkswagen's success in European club racing. Change could come quickly. Most people do not realize that many of the vehicles sold in the United States on global platforms are already sold abroad with diesel options.
Updates and information on new vehicles entering this segment will be available in coming weeks. For data on the compact-performance market, please visit www.sema.org/marketresearch. This information, plus much more, is available through the SEMA Research & Information Center, a SEMA-member benefit. The data is available exclusively via the members-only area of the www.sema.org website. For more information, contact research@sema.org.
Source: SEMA Research & Information Center
Thu, 02/28/2008 - 00:00
Forecasting future activity of the specialty-equipment industry can be a tricky thing, especially in an environment where economic uncertainty continues to affect consumers' prospects of spending in the near future. SEMA's latest Performance Parts and Accessories Demand Index (PADI) attests to the possible tightening of consumers' budgets. The latest index shows that the overall PADI score for January dropped by 51% from last year's reading.
Adding to a possible downturn in the specialty-equipment industry is the fact that overall new-vehicle sales for 2008 are forecasted to reach around 15.8 million, nearly a 2% drop from 2007, according to AutoPacific data. The light-truck segment is expected to take a bigger hit than the car segment, a 2.7% drop versus 1.0%.
The good news is that starting in 2009, overall vehicle sales are expected to climb back to around 16.1 million and grow steadily thereafter. The housing market is also predicted to pick up next year as well, according to data from the National Association of Home Builders, which right now, may be a contributing factor to consumers' feeling less bullish about their future specialty-equipment spending.
As a result, consumers may be looking less at dressing up their cars and trucks in 2008 and shift toward more functional upgrades that improve their vehicle's performance, utility and comfort. Much of the drop experienced by the PADI resulted from fewer consumers saying they plan on purchasing wheel, tire or suspension products. Year-over-year index values for this segment dropped 65%, whereas both the accessory/appearance and racing/performance segments dropped around 30%.
SEMA will continue to track consumers' specialty-equipment spending outlook in the coming months. For more information, visit www.sema.org/research.
Source: SEMA Research & Information Center
Thu, 02/28/2008 - 00:00
E-commerce sales this year are expected to grow anywhere from 16%–18% compared to 2007, according to forecasts from eMarketer, Forrester Research and JupiterResearch. This growth, according to eMarketer, will come from a shift by consumers spending their dollars at traditional retail stores to the Internet.
In fact, SEMA market research data supports this shift in shopping habits. According to SEMA's annual Automotive Lifestyles survey of automotive enthusiast magazine subscribers, the number of consumers that say they purchase specialty-equipment from the Internet has grown by an average of 6.6% per year over the last three years.
Specialty-equipment companies stand to realize additional profit by making it easy for consumers to buy products online by either hosting their own "shopping cart" or conveniently linking to distributors that have e-commerce capabilities.
Source: SEMA Research & Information Center
Thu, 02/21/2008 - 00:00
If you have been contemplating sourcing your products from China, take the first step by reading SEMA’s valuable, two-part series on this topic.
Part one explores the potential nightmare scenarios and risks of outsourcing to China (for example, the risk that your Chinese producer could make and sell copies of your product without your knowledge or make and sell defective products under your brand name) and offers a set of strategies for dealing with these risks. Click here for the first installment.
Part two suggests strategies to prevent the theft of your intellectual property theft and outlines your options if your intellectual property is stolen. Links are also provided to various resources. Click here for part two.
Also, be sure to check out the related webinar “Why Your Company’s Intellectual Property Is A Valuable Asset and What to Do to Protect It From Infringement.” This webinar outlines the means to prevent the importation of your misappropriated intellectual property. Click here and scroll down to access the webinar.
Thu, 02/21/2008 - 00:00
For a complete list of SEMA Hall of Fame members inducted by year, click here.
SEMA members: This is your last chance to participate in the SEMA Hall of Fame selection process. It's time once again to gather your thoughts and recommend, for consideration, nominees for the 2008 SEMA Hall of Fame. Induction into the prestigious SEMA Hall of Fame is one of the highest honors the industry can bestow on individual members. It is an annual tribute to those who have demonstrated extraordinary leadership skills and an incomparable dedication to industry affairs and progress.
It is important that you review the criteria for Hall of Fame honorees. Click here to view the criteria.
To avoid nominating someone who is already a member of the Hall of Fame, please click here to review the list of prior recipients.
To submit a nominee online, click here to complete the nomination form. When completed, return it via e-mail to christineb@sema.org. The Hall of Fame Task Force follows strict guidelines during the selection process, which means your input, comments and opinions are essential for a fair and complete evaluation.
All recommendations must be received by the SEMA office via mail or online (to the attention of Christine Papavero) by Friday, February 22, to be considered. To view the SEMA Hall of Fame online, please visit http://semahalloffame.com.
Thu, 02/21/2008 - 00:00
Your SEMA key contact should have received an e-mail requesting that they take a few minutes to update your membership information. The deadline for updates is Friday, February 29.
If your company's key contact has not received the e-mail with your login and password, or if you have questions concerning the update form, please contact the membership department at 909/396-0289, or e-mail update@sema.org.