By the SEMA Washington, D.C., office

As the clock wound down on the 2023-24 Congress, the U.S. Senate passed the SEMA-supported "Expanding Public Lands Outdoor Recreation Experiences Act" (EXPLORE Act), H.R. 6492, putting our industry on the brink of securing a significant boost for those who enjoy, support and cater to outdoor recreation. The comprehensive public lands package, which increases access to outdoor recreation opportunities to help grow the outdoor recreation industry's $1.2-trillion annual economic impact, now awaits President Biden's signature.  

"SEMA thanks U.S. Senators Joe Manchin III (D-W.V.) and John Barrasso (R-Wy.) for their continued advocacy for the EXPLORE Act, which was critical in securing the broader Senate support needed to pass this bill and send it to the president's desk," said SEMA President and CEO Mike Spagnola. "The opportunity of outdoor recreation is one of our nation's treasures, an asset that unites us across state and party lines. The people whose passion is to traverse the outdoors is matched only by those who innovate and develop the products that help them do so, and that's why this bill is so important. It's about our economy, our quality of life and our ability to share with more people all of our nation's natural wonders."   

The EXPLORE Act directs the U.S. Forest Service and Bureau of Land Management (BLM) to create more motorized opportunities on public lands, addresses special recreation permits and fees that have been expensive and cumbersome for off-road groups to navigate on federal lands, attempts to improve visitor experiences, addresses the lack of affordable housing causing staffing shortages on public lands, and transforms outdoor recreation experiences for active-duty military members, veterans and Gold Star families. 

You can find more information about the major provisions of the legislation by reviewing the section-by-section outline. 

For additional information on the EXPLORE Act, contact Eric Snyder, SEMA's senior director of federal government affairs, at erics@sema.org. 

By the SEMA Washington, D.C., office

As the clock wound down on the 2023-24 Congress, the U.S. Senate passed the SEMA-supported "Expanding Public Lands Outdoor Recreation Experiences Act" (EXPLORE Act), H.R. 6492, putting our industry on the brink of securing a significant boost for those who enjoy, support and cater to outdoor recreation. The comprehensive public lands package, which increases access to outdoor recreation opportunities to help grow the outdoor recreation industry's $1.2-trillion annual economic impact, now awaits President Biden's signature.  

"SEMA thanks U.S. Senators Joe Manchin III (D-W.V.) and John Barrasso (R-Wy.) for their continued advocacy for the EXPLORE Act, which was critical in securing the broader Senate support needed to pass this bill and send it to the president's desk," said SEMA President and CEO Mike Spagnola. "The opportunity of outdoor recreation is one of our nation's treasures, an asset that unites us across state and party lines. The people whose passion is to traverse the outdoors is matched only by those who innovate and develop the products that help them do so, and that's why this bill is so important. It's about our economy, our quality of life and our ability to share with more people all of our nation's natural wonders."   

The EXPLORE Act directs the U.S. Forest Service and Bureau of Land Management (BLM) to create more motorized opportunities on public lands, addresses special recreation permits and fees that have been expensive and cumbersome for off-road groups to navigate on federal lands, attempts to improve visitor experiences, addresses the lack of affordable housing causing staffing shortages on public lands, and transforms outdoor recreation experiences for active-duty military members, veterans and Gold Star families. 

You can find more information about the major provisions of the legislation by reviewing the section-by-section outline. 

For additional information on the EXPLORE Act, contact Eric Snyder, SEMA's senior director of federal government affairs, at erics@sema.org. 

By SEMA News Editors

GRIDLIFE Expands to Nine National Events

GRIDLIFE is set to grow its National Festival Tour with nine events in 2025, up from five in 2024. The motorsports event will also expand to a three-day weekend format next season.

The announcement, made at the PRI Show in Indianapolis, revealed a lineup of events running from April to October, including two brand-new event venues and enhanced racing and entertainment offerings, organizers said.

The expanded weekend format introduces GRIDLIFE's newest racing class GRIDLIFE Grand Touring (GLGT) to attract GT4, TCR and similar speed machinery alongside established fan favorites GRIDLIFE Touring Cup (GLTC), GRIDLIFE RushSR Series, Track Battle Time Attack, and GRIDLIFE Drift.

High-Performance Driving Education (HPDE) will continue as part of GRIDLIFE's core offerings but will now take place during standalone events, with its schedule set to be announced later.

Beyond the track, GRIDLIFE remains dedicated to blending car culture with live entertainment, the organization said, showcasing vehicles from the '80s, '90s, and '00s in its Concours, hosting the GRIDLIFE Arcade and live music performances.

For more information, visit grid.life.

IHRA Announces New Broadcast Partnership With SPEED SPORT

The International Hot Rod Association (IHRA) has entered into a new partnership with SPEED SPORT 1 to air its content on the live racing network.

SPEED SPORT 1, a F.A.S.T. channel with direct-to-consumer delivery, is on every stream platform including, Amazon Prime, Pluto, Roku, Fubo and Sling. The partnership means IHRA content will be available to more than 200 million consumers on mainstream platforms and 300 million users on every major mobile platform.

For more information, visit ihra.com.

By SEMA News Editors

MotorTrend has named the Ram 1500 as its 2025 Truck of the Year award winner.

The truck was chosen on the strength of its value, excellent new powertrain and broad appeal, among other criteria, the publication said. Each MotorTrend Truck of the Year competitor is judged against six key criteria: safety, value, advancement in design, engineering excellence, efficiency and performance of intended function.

The MotorTrend editorial team put three Ram 1500s to the test, including the Warlock, RHO and Tungsten tiers. The expert testing team noted improvements to the truck’s power output, technology and handling, the publication said, noting Ram’s engine update, replacing the Hemi V8 with the new twin-turbocharged Hurricane I-6 engine.

For an in-depth analysis of MotorTrend's selection, click here.

By SEMA News Editors

Honda, Nissan Announce Plans to Merge

Honda and Nissan have announced plans to explore a merger, which would also include the participation of Mitsubishi Motors.

The companies signed a memorandum of understanding (MOU) to start discussions about merging through the establishment of a joint holding company.

Mitsubishi, which is partially owned by Nissan, will determine if it will be involved in the merger by the end of January 2025, the company said.

"The MOU between Nissan and Honda…is aimed to serve as an option to maintain global competitiveness and for the two companies to continue to deliver more attractive products and services to customers worldwide," the companies said in a joint statement announcing the discussions.

For more information, visit honda.com.

 IIHS Names 2024 Top Safety Picks

Nineteen vehicles from 11 brands earned Top Safety Pick or Top Safety Pick+ awards from the Insurance Institute for Highway Safety (IIHS) in the final group of ratings for the year.

The 10 winners of the higher-tier Top Safety Pick+ award are the Ford Mustang Mach-E, Infiniti QX60, Mazda CX-70, Mazda CX-70 PHEV, Mercedes-Benz C-Class, Mercedes-Benz GLC, Rivian R1S, Subaru Forester, Toyota Tundra crew cab and Volvo XC90 Plug-In Hybrid.

The nine winners of the base Top Safety Pick award are the Audi Q8, Ford F-150 crew cab, Ford F-150 extended cab, Infiniti QX80, Kia K4, Mercedes-Benz E-Class, Nissan Kicks, Toyota Corolla sedan and Toyota Crown Signia.

To qualify for either award in 2024, vehicles need good ratings in the small overlap front and updated side tests, an acceptable or good rating in the pedestrian front crash prevention evaluation and acceptable- or good-rated headlights across all trim levels. In addition, a good rating in the original moderate overlap front test is enough to qualify for Top Safety Pick, but a good or acceptable rating in the updated test is needed for the "plus."

For more information on this year's Top Safety Picks, visit iihs.org.

SBI Acquires Precision Engine Parts

S.B. International (SBI), the Nashville, Tennessee-based valvetrain component manufacturer, has acquired Precision Engine Parts (PEP), a Las Vegas, Nevada, provider of valvetrain components.

PEP's integration into SBI's portfolio will strengthen product offerings and accelerate research and development efforts, the company said in a statement announcing the acquisition.

"Bringing PEP into the SBI family is a transformative step that will benefit both our clients and our industry," said Ryan Hamilton, President/CEO of SBI. "PEP has long been a pioneer in valvetrain innovation, and together, we're positioned to expand our impact and deliver a greater value to our customers worldwide."

PEP's operations will continue under SBI with plans to integrate their best processes, the company said. The acquisition allows SBI to offer an expanded line of valvetrain components, including bronze valve guides to be manufactured at SBI's headquarters in Nashville.

For more information, visit sbintl.com.

From the SEMA Washington, D.C., office

California's Office of Environmental Health Hazard Assessment (OEHHA) last week finalized updates to its SEMA-opposed October 2023 amendments to Proposition 65, a California law that requires warning labels on products containing chemicals known to cause cancer, birth defects or reproductive harm.

Because these changes will have a significant impact on the automotive aftermarket industry, including manufacturers, distributors, retailers and out-of-state companies selling products in California, SEMA will host a webinar early in 2025 to help businesses navigate these updates. Stay tuned for forthcoming details on the webinar.  

Key Updates on Prop 65's Changes: 

• Extended Implementation Period: Businesses now have three years (instead of two) to implement the revised short-form warning content.  
• Inclusion of Chemical Name: Warnings must include at least one chemical. This is a significant change from the current regulations, which allow businesses to use a generic short-form warning that does not identify any specific chemicals. 
• Options for Warnings: Companies may choose from "WARNING," "CA WARNING," or "CALIFORNIA WARNING" to help identify warnings as state-specific, especially for products sold outside California. Required elements include the yellow warning triangle, the specific risk (e.g., "cancer risk") and a link to www.P65Warnings.ca.gov. 
• Label and Font Size: The short-form warning can appear on any label size as long as the text is at least 6-point font and "conspicuous" compared to other label content.  
• Internet and Catalog Warnings: OEHHA reverted to the original regulation text, removing the requirement for warnings when the product is delivered. OEHHA plans to revisit internet warning requirements in future rulemaking. 
• Internet Retailer Grace Period: After receiving a notice or warning during the three-year transition period, online retailers have 60 days to update their short-form warnings. 

For more information, contact Christian Robinson, SEMA's senior director for state government affairs, at christianr@sema.org. 

From the SEMA Washington, D.C., office

California's Office of Environmental Health Hazard Assessment (OEHHA) last week finalized updates to its SEMA-opposed October 2023 amendments to Proposition 65, a California law that requires warning labels on products containing chemicals known to cause cancer, birth defects or reproductive harm.

Because these changes will have a significant impact on the automotive aftermarket industry, including manufacturers, distributors, retailers and out-of-state companies selling products in California, SEMA will host a webinar early in 2025 to help businesses navigate these updates. Stay tuned for forthcoming details on the webinar.  

Key Updates on Prop 65's Changes: 

• Extended Implementation Period: Businesses now have three years (instead of two) to implement the revised short-form warning content.  
• Inclusion of Chemical Name: Warnings must include at least one chemical. This is a significant change from the current regulations, which allow businesses to use a generic short-form warning that does not identify any specific chemicals. 
• Options for Warnings: Companies may choose from "WARNING," "CA WARNING," or "CALIFORNIA WARNING" to help identify warnings as state-specific, especially for products sold outside California. Required elements include the yellow warning triangle, the specific risk (e.g., "cancer risk") and a link to www.P65Warnings.ca.gov. 
• Label and Font Size: The short-form warning can appear on any label size as long as the text is at least 6-point font and "conspicuous" compared to other label content.  
• Internet and Catalog Warnings: OEHHA reverted to the original regulation text, removing the requirement for warnings when the product is delivered. OEHHA plans to revisit internet warning requirements in future rulemaking. 
• Internet Retailer Grace Period: After receiving a notice or warning during the three-year transition period, online retailers have 60 days to update their short-form warnings. 

For more information, contact Christian Robinson, SEMA's senior director for state government affairs, at christianr@sema.org. 

By SEMA News Editors

HOT ROD has released the schedule and locations for HOT ROD Drag Week 2025.

The 2025 drag racing series will kick off in the Mid-Atlantic region for the second time in its history, revisiting two familiar tracks, along with two facilities new to HOT ROD Drag Week.

Scheduled for September 14-19, 2025, HOT ROD Drag Week will start at Maryland International Raceway in Budds Creek, Maryland, followed by stops at Numidia Dragway in Numidia, Pennsylvania, Maple Grove Raceway in Redding, Pennsylvania, and Cecil County Dragway in Rising Sun, Maryland, before returning to Maryland International Raceway for the finals on September 19.

The competition, which aims to find the ultimate street-legal drag car, puts competitors through five days of drag racing, requiring racers to drive their vehicles on a specified, 1,000-mile route from city to city while securing the quickest possible elapsed time across the five days.

Registration for HOT ROD Drag Week opens in February.

Visit motortrend.com for more information.

This story was originally published on December 26, 2024. For more industry news, visit SEMANews.com and subscribe to SEMA News at the bottom of the webpage to get the latest updates straight to your inbox, twice a week.

Images courtesy of HOT ROD

By SEMA News Editors

For the first time ever, SEMA Magazine is now available to everyone at no cost in a digital format. While previously only available in print to SEMA business members, the publication is now available digitally across the globe. Whether you're an industry member staying on top of trends or an enthusiast interested in learning more about the specialty-equipment market, the digital magazine is available in current and past issues.

Below is a step-by-step guide to claiming your free digital subscription on your phone.

Visit the link below or scan the QR code to claim your coupon voucher:

Claim your free SEMA Magazine digital subscription here.

Fill in the mandatory fields and three questions regarding your automotive interests.
 

Hit subscribe to claim your free subscription. Now, you're able to activate your account by downloading the SEMA Magazine app. Tap the IOS link for Apple devices and Google Play for others.

Download the app and open it to bring you to the home page. On the bottom right, hit "Profile" to sign up using the same email address you used to claim your coupon.

Once you sign up, you'll have full access to a year's worth of valuable industry knowledge and insights. Get to reading!

Be sure to sign up for notifications on the latest issue coming in January, featuring highlights you might have missed from the 2024 SEMA Show and so much more.

Questions? Contact members@sema.org or call 909-610-2030.

From the SEMA Washington, D.C., office 

A late-breaking legal development is reinstating the January 13, 2025, deadline for small businesses to file a report with the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) on their beneficial ownership information (BOI). BOI reports are a requirement under the Corporate Transparency Act (CTA), a 2021 federal law that is intended to enhance transparency in entity structures and ownership to combat money laundering, tax fraud and other illicit activities. 

Small businesses can be exempted from filing a report with FinCEN if they meet the following three criteria: 

• Employ more than 20 employees
• Operate a physical office in the United States
• Filed federal tax returns demonstrating more than $5 million in gross receipts or sales. 

Additional information on which companies must file BOI reports with FinCEN are outlined below. If your business is required to submit a report, click here to file a BOI report with FinCEN. 

On December 23, the Fifth Circuit Court of Appeals issued a January 13, 2025, deadline for BOI filings. Previously, a federal district court in Texas issued an order granting a nationwide preliminary injunction, putting the FinCEN's BOI Reporting Rulemaking on hold. However, the U.S. Department of Justice (DOJ) appealed the decision, and the Fifth Circuit Court of Appeals granted DOJ's request to stay (i.e., stop) the preliminary injunction that was pausing the CTA's implementation.  

Beneficial Ownership Rule Filing Requirements 

The CTA defines a "beneficial owner" as an individual who, directly or indirectly, exercises substantial control over the reporting company or owns or controls at least 25% of the ownership interests of the reporting company. An individual exercises "substantial control" over an entity if the individual:  

• Serves as a senior officer 
• Has authority over the appointment or removal of a senior officer or a majority of the board of directors 
• Directs, determines or has substantial influence over important business decisions 

Beneficial ownership information reporting is not an annual requirement. Businesses only must file a report with FinCEN once, unless the filer needs to update or correct information about their company's beneficial ownership. Generally, reporting companies must provide four pieces of information about each beneficial owner: 

• Name 
• Date of birth 
• Address 
• The identifying number and issuer from either a non-expired U.S. driver's license, a non-expired U.S. passport or a non-expired identification document issued by a State (including a U.S. territory or possession), local government or Native American tribe. If none of those documents exist, a non-expired foreign passport can be used. An image of the document must also be submitted. 

Companies must also submit certain information about themselves, such as their name(s) and address. In addition, reporting companies created on or after January 1, 2024, must submit information about the individuals who formed the company ("company applicants"). 

Filers can also view informational videos and webinars, find answers to frequently asked questions, connect to the contact center and learn more about how to report at www.fincen.gov/boi. Also, SEMA member companies can listen to a webinar on the BOI reporting requirements. There is no charge for SEMA members, as the association is a member of the Small Business Legislative Council (SBLC), which hosted the webinar. 

For more information, contact Eric Snyder, SEMA's senior director of federal government affairs, at erics@sema.org. 

Editor's Note: This article was originally published on December 26, 2024, and updated on December 30, 2024.