Thu, 09/18/2014 - 14:54

By SEMA Editors

 toyota
Toyota will select four SEMA members with approved current- or older-generation Toyota vehicles in their booths to display an additional vehicle in the OEM's outdoor space throughout Show week and help upgrade their company’s vehicle with Toyota TRD parts at no cost.
  

Toyota has announced new enhancements to its SEMA Member Spotlight Program. In addition to a chance to be acknowledged at the OEM’s 2014 SEMA Show press conference on November 4, Toyota will select four members to display an additional vehicle in the Toyota outdoor space throughout Show week and help upgrade their company’s vehicle with Toyota TRD parts at no cost.

About Toyota's SEMA Membership Spotlight Program

Toyota is providing exhibitors the opportunity to be a part of its press conference at the 2014 SEMA Show, November 4–7, in Las Vegas. Exhibitors with approved current- or older-generation Toyota vehicles in their booths will be acknowledged in the Toyota press event and will also have an opportunity to display a second vehicle in the Toyota outdoor space throughout Show week.

Known as the SEMA Member Spotlight Program, the Toyota-developed initiative is designed to provide more direct engagement with SEMA exhibitors and membership.

Exhibitors can register their Toyota-based project vehicle for SEMA Member Spotlight Program consideration. The required information can also be e-mailed to vstafford@mc-2.com by the deadline.

SEMA Member Spotlight Submission Requirements:

  • Registration must be submitted by Friday, October 10. Indicate whether the participant wants to be considered for the outdoor display area.
  • Submit a high-resolution logo file by Friday, October 10, to be included in promotional elements determined by Toyota.
  • Exhibitor agrees to display a current-generation Toyota in their Show booth, along with provided collateral materials throughout the SEMA Show.
  • Older-model Toyotas can be used for display purposes if business needs require it. Include this requirement on your registration form.
  • Should you be selected for one of the four display models, be able to provide a secondary vehicle for the duration of the Show.

More information about the 2014 SEMA Show is available at www.SEMAShow.com.  

Thu, 09/18/2014 - 14:54

By SEMA Editors

 toyota
Toyota will select four SEMA members with approved current- or older-generation Toyota vehicles in their booths to display an additional vehicle in the OEM's outdoor space throughout Show week and help upgrade their company’s vehicle with Toyota TRD parts at no cost.
  

Toyota has announced new enhancements to its SEMA Member Spotlight Program. In addition to a chance to be acknowledged at the OEM’s 2014 SEMA Show press conference on November 4, Toyota will select four members to display an additional vehicle in the Toyota outdoor space throughout Show week and help upgrade their company’s vehicle with Toyota TRD parts at no cost.

About Toyota's SEMA Membership Spotlight Program

Toyota is providing exhibitors the opportunity to be a part of its press conference at the 2014 SEMA Show, November 4–7, in Las Vegas. Exhibitors with approved current- or older-generation Toyota vehicles in their booths will be acknowledged in the Toyota press event and will also have an opportunity to display a second vehicle in the Toyota outdoor space throughout Show week.

Known as the SEMA Member Spotlight Program, the Toyota-developed initiative is designed to provide more direct engagement with SEMA exhibitors and membership.

Exhibitors can register their Toyota-based project vehicle for SEMA Member Spotlight Program consideration. The required information can also be e-mailed to vstafford@mc-2.com by the deadline.

SEMA Member Spotlight Submission Requirements:

  • Registration must be submitted by Friday, October 10. Indicate whether the participant wants to be considered for the outdoor display area.
  • Submit a high-resolution logo file by Friday, October 10, to be included in promotional elements determined by Toyota.
  • Exhibitor agrees to display a current-generation Toyota in their Show booth, along with provided collateral materials throughout the SEMA Show.
  • Older-model Toyotas can be used for display purposes if business needs require it. Include this requirement on your registration form.
  • Should you be selected for one of the four display models, be able to provide a secondary vehicle for the duration of the Show.

More information about the 2014 SEMA Show is available at www.SEMAShow.com.  

Thu, 09/18/2014 - 14:54

By SEMA Editors

 toyota
Toyota will select four SEMA members with approved current- or older-generation Toyota vehicles in their booths to display an additional vehicle in the OEM's outdoor space throughout Show week and help upgrade their company’s vehicle with Toyota TRD parts at no cost.
  

Toyota has announced new enhancements to its SEMA Member Spotlight Program. In addition to a chance to be acknowledged at the OEM’s 2014 SEMA Show press conference on November 4, Toyota will select four members to display an additional vehicle in the Toyota outdoor space throughout Show week and help upgrade their company’s vehicle with Toyota TRD parts at no cost.

About Toyota's SEMA Membership Spotlight Program

Toyota is providing exhibitors the opportunity to be a part of its press conference at the 2014 SEMA Show, November 4–7, in Las Vegas. Exhibitors with approved current- or older-generation Toyota vehicles in their booths will be acknowledged in the Toyota press event and will also have an opportunity to display a second vehicle in the Toyota outdoor space throughout Show week.

Known as the SEMA Member Spotlight Program, the Toyota-developed initiative is designed to provide more direct engagement with SEMA exhibitors and membership.

Exhibitors can register their Toyota-based project vehicle for SEMA Member Spotlight Program consideration. The required information can also be e-mailed to vstafford@mc-2.com by the deadline.

SEMA Member Spotlight Submission Requirements:

  • Registration must be submitted by Friday, October 10. Indicate whether the participant wants to be considered for the outdoor display area.
  • Submit a high-resolution logo file by Friday, October 10, to be included in promotional elements determined by Toyota.
  • Exhibitor agrees to display a current-generation Toyota in their Show booth, along with provided collateral materials throughout the SEMA Show.
  • Older-model Toyotas can be used for display purposes if business needs require it. Include this requirement on your registration form.
  • Should you be selected for one of the four display models, be able to provide a secondary vehicle for the duration of the Show.

More information about the 2014 SEMA Show is available at www.SEMAShow.com.  

Thu, 09/18/2014 - 14:49

By Della Domingo

  SEMA Measuring Sessions, Toyota Hilux, automotive industry research
In 2012, under the Market Development Cooperator Program within the Commerce Department’s International Trade Administration (ITA), SEMA imported a Toyota HiLux for members to measure and create export-ready product.
   

Representing the $33 billion automotive specialty-equipment market, SEMA has been awarded part of a $2.2M federal grant to expand exports of automotive aftermarket products into foreign markets, including Russia, the United Arab Emirates and China.

The grant, under the Market Development Cooperator Program within the Commerce Department’s International Trade Administration (ITA), will help the association provide exporting opportunities for its members. They include a new yearly fact-finding and sales mission to Russia, working with government officials to seek pro-industry regulations that allow U.S. products equal market access, and organizing overseas vehicle measuring sessions in key emerging markets.

SEMA Measuring Sessions give member companies the opportunity to study and measure vehicles in order to develop quality products and accessories consumers can use to personalize and customize their cars, trucks and SUVs.

The $300,000 portion of the grant allocated to SEMA will enable the association to expand the program overseas and hold measuring sessions in each market, augmenting SEMA's popular three-year program of importing non-U.S. vehicles to the SEMA Garage at its Southern California headquarters under special exemption.

For the program’s initial phase, SEMA imported a Toyota HiLux, Ford Ranger T6, Mitsubishi L200 and UAZ Hunter, none of which are sold in the United States, but have strong followings in Europe, Australia, the Middle East, China and South America.

"As a global trade association, SEMA seeks to help member companies grow and expand their businesses," said Linda Spencer, SEMA's international and government relations director. "One of the many ways SEMA helps its members grow is through exporting. For many of our members, exporting products to key international markets is integral to their success, and SEMA is available to help identify strategic markets and guide members along the way."

U.S. exports hit an all-time record of $2.3 trillion in 2013, and supported more than 11 million American jobs, according to the Department of Commerce.

SEMA’s Export Initiatives
 
Over the past two decades, SEMA has developed a successful track record regarding its overseas work. SEMA places a high priority on assisting member companies with diversifying their customer base and taking advantage of export opportunities as the global demand for the automotive industry's products soars.
 
As the typical SEMA-member company has a relatively small staff and modest budget compared to larger firms, SEMA’s export programs and services are considered an extension to their staffs and fill a vital void by providing needed global expansion resources.
 
For SEMA members, new geographic markets offer opportunities to create new revenue streams and reach new customers. Numerous studies have shown that exporters outperform non-exporters in terms of wages, productivity and innovation and, equally important, this diversification can make firms more resilient during economic downturns.
 
SEMA assists U.S. companies to identify strategic markets and guide its members along the way. Initiatives include promoting international research to identify developing markets, working with international officials on legislative issues, creating venues for SEMA members to connect with international buyers and organizing trade missions to key countries throughout the year. Another initiative includes importing vehicles popular internationally but not sold in the United States in order to assist U.S. companies to create export-ready product.
 
A partnership with the U.S. Department of Commerce enhanced with a 2011 Market Development Cooperator Program (MDCP) award was a key factor to growing the range and depth of SEMA’s programs beyond the traditional markets to which U.S. manufacturers export, such as those in Europe, Australia and Japan.
 
Since September 2011, nearly 300 U.S. companies have traveled to China and/or the Middle East with SEMA, and/or have measured vehicles popular in key overseas markets. Export sales by participants in SEMA's one-on-one programs in the Middle East and China have resulted in nearly $50 million.
 
Thirteen SEMA-member companies taking advantage of the expanded SEMA international programs have received Department of Commerce Export Achievement awards. Additional achievement awards are also expected to be presented at the 2014 SEMA Show.

Thu, 09/18/2014 - 14:49

By Della Domingo

  SEMA Measuring Sessions, Toyota Hilux, automotive industry research
In 2012, under the Market Development Cooperator Program within the Commerce Department’s International Trade Administration (ITA), SEMA imported a Toyota HiLux for members to measure and create export-ready product.
   

Representing the $33 billion automotive specialty-equipment market, SEMA has been awarded part of a $2.2M federal grant to expand exports of automotive aftermarket products into foreign markets, including Russia, the United Arab Emirates and China.

The grant, under the Market Development Cooperator Program within the Commerce Department’s International Trade Administration (ITA), will help the association provide exporting opportunities for its members. They include a new yearly fact-finding and sales mission to Russia, working with government officials to seek pro-industry regulations that allow U.S. products equal market access, and organizing overseas vehicle measuring sessions in key emerging markets.

SEMA Measuring Sessions give member companies the opportunity to study and measure vehicles in order to develop quality products and accessories consumers can use to personalize and customize their cars, trucks and SUVs.

The $300,000 portion of the grant allocated to SEMA will enable the association to expand the program overseas and hold measuring sessions in each market, augmenting SEMA's popular three-year program of importing non-U.S. vehicles to the SEMA Garage at its Southern California headquarters under special exemption.

For the program’s initial phase, SEMA imported a Toyota HiLux, Ford Ranger T6, Mitsubishi L200 and UAZ Hunter, none of which are sold in the United States, but have strong followings in Europe, Australia, the Middle East, China and South America.

"As a global trade association, SEMA seeks to help member companies grow and expand their businesses," said Linda Spencer, SEMA's international and government relations director. "One of the many ways SEMA helps its members grow is through exporting. For many of our members, exporting products to key international markets is integral to their success, and SEMA is available to help identify strategic markets and guide members along the way."

U.S. exports hit an all-time record of $2.3 trillion in 2013, and supported more than 11 million American jobs, according to the Department of Commerce.

SEMA’s Export Initiatives
 
Over the past two decades, SEMA has developed a successful track record regarding its overseas work. SEMA places a high priority on assisting member companies with diversifying their customer base and taking advantage of export opportunities as the global demand for the automotive industry's products soars.
 
As the typical SEMA-member company has a relatively small staff and modest budget compared to larger firms, SEMA’s export programs and services are considered an extension to their staffs and fill a vital void by providing needed global expansion resources.
 
For SEMA members, new geographic markets offer opportunities to create new revenue streams and reach new customers. Numerous studies have shown that exporters outperform non-exporters in terms of wages, productivity and innovation and, equally important, this diversification can make firms more resilient during economic downturns.
 
SEMA assists U.S. companies to identify strategic markets and guide its members along the way. Initiatives include promoting international research to identify developing markets, working with international officials on legislative issues, creating venues for SEMA members to connect with international buyers and organizing trade missions to key countries throughout the year. Another initiative includes importing vehicles popular internationally but not sold in the United States in order to assist U.S. companies to create export-ready product.
 
A partnership with the U.S. Department of Commerce enhanced with a 2011 Market Development Cooperator Program (MDCP) award was a key factor to growing the range and depth of SEMA’s programs beyond the traditional markets to which U.S. manufacturers export, such as those in Europe, Australia and Japan.
 
Since September 2011, nearly 300 U.S. companies have traveled to China and/or the Middle East with SEMA, and/or have measured vehicles popular in key overseas markets. Export sales by participants in SEMA's one-on-one programs in the Middle East and China have resulted in nearly $50 million.
 
Thirteen SEMA-member companies taking advantage of the expanded SEMA international programs have received Department of Commerce Export Achievement awards. Additional achievement awards are also expected to be presented at the 2014 SEMA Show.

Thu, 09/18/2014 - 14:49

By Della Domingo

  SEMA Measuring Sessions, Toyota Hilux, automotive industry research
In 2012, under the Market Development Cooperator Program within the Commerce Department’s International Trade Administration (ITA), SEMA imported a Toyota HiLux for members to measure and create export-ready product.
   

Representing the $33 billion automotive specialty-equipment market, SEMA has been awarded part of a $2.2M federal grant to expand exports of automotive aftermarket products into foreign markets, including Russia, the United Arab Emirates and China.

The grant, under the Market Development Cooperator Program within the Commerce Department’s International Trade Administration (ITA), will help the association provide exporting opportunities for its members. They include a new yearly fact-finding and sales mission to Russia, working with government officials to seek pro-industry regulations that allow U.S. products equal market access, and organizing overseas vehicle measuring sessions in key emerging markets.

SEMA Measuring Sessions give member companies the opportunity to study and measure vehicles in order to develop quality products and accessories consumers can use to personalize and customize their cars, trucks and SUVs.

The $300,000 portion of the grant allocated to SEMA will enable the association to expand the program overseas and hold measuring sessions in each market, augmenting SEMA's popular three-year program of importing non-U.S. vehicles to the SEMA Garage at its Southern California headquarters under special exemption.

For the program’s initial phase, SEMA imported a Toyota HiLux, Ford Ranger T6, Mitsubishi L200 and UAZ Hunter, none of which are sold in the United States, but have strong followings in Europe, Australia, the Middle East, China and South America.

"As a global trade association, SEMA seeks to help member companies grow and expand their businesses," said Linda Spencer, SEMA's international and government relations director. "One of the many ways SEMA helps its members grow is through exporting. For many of our members, exporting products to key international markets is integral to their success, and SEMA is available to help identify strategic markets and guide members along the way."

U.S. exports hit an all-time record of $2.3 trillion in 2013, and supported more than 11 million American jobs, according to the Department of Commerce.

SEMA’s Export Initiatives
 
Over the past two decades, SEMA has developed a successful track record regarding its overseas work. SEMA places a high priority on assisting member companies with diversifying their customer base and taking advantage of export opportunities as the global demand for the automotive industry's products soars.
 
As the typical SEMA-member company has a relatively small staff and modest budget compared to larger firms, SEMA’s export programs and services are considered an extension to their staffs and fill a vital void by providing needed global expansion resources.
 
For SEMA members, new geographic markets offer opportunities to create new revenue streams and reach new customers. Numerous studies have shown that exporters outperform non-exporters in terms of wages, productivity and innovation and, equally important, this diversification can make firms more resilient during economic downturns.
 
SEMA assists U.S. companies to identify strategic markets and guide its members along the way. Initiatives include promoting international research to identify developing markets, working with international officials on legislative issues, creating venues for SEMA members to connect with international buyers and organizing trade missions to key countries throughout the year. Another initiative includes importing vehicles popular internationally but not sold in the United States in order to assist U.S. companies to create export-ready product.
 
A partnership with the U.S. Department of Commerce enhanced with a 2011 Market Development Cooperator Program (MDCP) award was a key factor to growing the range and depth of SEMA’s programs beyond the traditional markets to which U.S. manufacturers export, such as those in Europe, Australia and Japan.
 
Since September 2011, nearly 300 U.S. companies have traveled to China and/or the Middle East with SEMA, and/or have measured vehicles popular in key overseas markets. Export sales by participants in SEMA's one-on-one programs in the Middle East and China have resulted in nearly $50 million.
 
Thirteen SEMA-member companies taking advantage of the expanded SEMA international programs have received Department of Commerce Export Achievement awards. Additional achievement awards are also expected to be presented at the 2014 SEMA Show.

Thu, 09/18/2014 - 14:49

By Della Domingo

  SEMA Measuring Sessions, Toyota Hilux, automotive industry research
In 2012, under the Market Development Cooperator Program within the Commerce Department’s International Trade Administration (ITA), SEMA imported a Toyota HiLux for members to measure and create export-ready product.
   

Representing the $33 billion automotive specialty-equipment market, SEMA has been awarded part of a $2.2M federal grant to expand exports of automotive aftermarket products into foreign markets, including Russia, the United Arab Emirates and China.

The grant, under the Market Development Cooperator Program within the Commerce Department’s International Trade Administration (ITA), will help the association provide exporting opportunities for its members. They include a new yearly fact-finding and sales mission to Russia, working with government officials to seek pro-industry regulations that allow U.S. products equal market access, and organizing overseas vehicle measuring sessions in key emerging markets.

SEMA Measuring Sessions give member companies the opportunity to study and measure vehicles in order to develop quality products and accessories consumers can use to personalize and customize their cars, trucks and SUVs.

The $300,000 portion of the grant allocated to SEMA will enable the association to expand the program overseas and hold measuring sessions in each market, augmenting SEMA's popular three-year program of importing non-U.S. vehicles to the SEMA Garage at its Southern California headquarters under special exemption.

For the program’s initial phase, SEMA imported a Toyota HiLux, Ford Ranger T6, Mitsubishi L200 and UAZ Hunter, none of which are sold in the United States, but have strong followings in Europe, Australia, the Middle East, China and South America.

"As a global trade association, SEMA seeks to help member companies grow and expand their businesses," said Linda Spencer, SEMA's international and government relations director. "One of the many ways SEMA helps its members grow is through exporting. For many of our members, exporting products to key international markets is integral to their success, and SEMA is available to help identify strategic markets and guide members along the way."

U.S. exports hit an all-time record of $2.3 trillion in 2013, and supported more than 11 million American jobs, according to the Department of Commerce.

SEMA’s Export Initiatives
 
Over the past two decades, SEMA has developed a successful track record regarding its overseas work. SEMA places a high priority on assisting member companies with diversifying their customer base and taking advantage of export opportunities as the global demand for the automotive industry's products soars.
 
As the typical SEMA-member company has a relatively small staff and modest budget compared to larger firms, SEMA’s export programs and services are considered an extension to their staffs and fill a vital void by providing needed global expansion resources.
 
For SEMA members, new geographic markets offer opportunities to create new revenue streams and reach new customers. Numerous studies have shown that exporters outperform non-exporters in terms of wages, productivity and innovation and, equally important, this diversification can make firms more resilient during economic downturns.
 
SEMA assists U.S. companies to identify strategic markets and guide its members along the way. Initiatives include promoting international research to identify developing markets, working with international officials on legislative issues, creating venues for SEMA members to connect with international buyers and organizing trade missions to key countries throughout the year. Another initiative includes importing vehicles popular internationally but not sold in the United States in order to assist U.S. companies to create export-ready product.
 
A partnership with the U.S. Department of Commerce enhanced with a 2011 Market Development Cooperator Program (MDCP) award was a key factor to growing the range and depth of SEMA’s programs beyond the traditional markets to which U.S. manufacturers export, such as those in Europe, Australia and Japan.
 
Since September 2011, nearly 300 U.S. companies have traveled to China and/or the Middle East with SEMA, and/or have measured vehicles popular in key overseas markets. Export sales by participants in SEMA's one-on-one programs in the Middle East and China have resulted in nearly $50 million.
 
Thirteen SEMA-member companies taking advantage of the expanded SEMA international programs have received Department of Commerce Export Achievement awards. Additional achievement awards are also expected to be presented at the 2014 SEMA Show.

Thu, 09/18/2014 - 14:38

By SEMA Editors

 2014 SEMA Annual Market Report
The 2014 SEMA Annual Market Report provides insight on the compact performance, street performance, light-truck, off-road, restyling, restoration, street rod and custom and racing niches.
  

While the current sales are far from the boom of the late ’90s and early 2000s, the compact-performance segment continues to show a slow climb of consistent growth over the past few years. The main factors supporting the growth are an increase in small-car sales and sustained high gas prices. According to the 2014 SEMA Annual Market Report, the compact-performance niche, which is currently valued at more than $5 billion, continues to offer an expanding opportunity for specialty-equipment companies.

In the compact-performance segment, accessory and appearance sales are a main driver for the market, comprising 46.5% of the total share. Performance products come in second with 32.6% in sales, followed by wheels, tires and suspension accessories, making up 20.9% of the total market.

This information and more is available through the recently released 2014 SEMA Annual Market Report. Members: Download a free copy of the 2014 SEMA Annual Market Report, which provides detailed insight on the compact-performance, street-performance, light-truck, off-road, restyling, restoration, street rod and custom, and racing niches.

Taking a closer look at the behavior of consumers interested in compact-performance helps determine where and how they learn about specialty-equipment products and gather product and styling ideas for their vehicles. The two main sources where compact-performance enthusiasts gather product information and styling concepts are the Internet, capturing 71.4% of the enthusiasts, and car and truck shows, which is 66.1% of enthusiasts. This combination reveals a lifestyle trend that has been constant in the market—the consumers use technology, such as the Internet and social media, together with interaction at public events to formulate the ideas on how to customize their vehicles.

“The trend of using the Internet’s search functions, forums and social media outlets, along with the peer-to-peer interaction of public car shows, is something that has remained consistent in compact-performance since its inception,” stated Gavin Knapp, SEMA senior market research manager. “It’s an intriguing consistency, especially when compared to other niches, such as light-truck, midsize and fullsize vehicles, where consumers are less likely to make their vehicle a focal point of their social scene.”

The SEMA Annual Market Report is conducted yearly to help SEMA-member companies understand the industry and make informed business decisions. SEMA research reports are available to SEMA members at no cost, and to nonmembers at a nominal fee. SEMA research reports are listed and can be accessed at www.SEMA.org/research.

Thu, 09/18/2014 - 14:38

By SEMA Editors

 2014 SEMA Annual Market Report
The 2014 SEMA Annual Market Report provides insight on the compact performance, street performance, light-truck, off-road, restyling, restoration, street rod and custom and racing niches.
  

While the current sales are far from the boom of the late ’90s and early 2000s, the compact-performance segment continues to show a slow climb of consistent growth over the past few years. The main factors supporting the growth are an increase in small-car sales and sustained high gas prices. According to the 2014 SEMA Annual Market Report, the compact-performance niche, which is currently valued at more than $5 billion, continues to offer an expanding opportunity for specialty-equipment companies.

In the compact-performance segment, accessory and appearance sales are a main driver for the market, comprising 46.5% of the total share. Performance products come in second with 32.6% in sales, followed by wheels, tires and suspension accessories, making up 20.9% of the total market.

This information and more is available through the recently released 2014 SEMA Annual Market Report. Members: Download a free copy of the 2014 SEMA Annual Market Report, which provides detailed insight on the compact-performance, street-performance, light-truck, off-road, restyling, restoration, street rod and custom, and racing niches.

Taking a closer look at the behavior of consumers interested in compact-performance helps determine where and how they learn about specialty-equipment products and gather product and styling ideas for their vehicles. The two main sources where compact-performance enthusiasts gather product information and styling concepts are the Internet, capturing 71.4% of the enthusiasts, and car and truck shows, which is 66.1% of enthusiasts. This combination reveals a lifestyle trend that has been constant in the market—the consumers use technology, such as the Internet and social media, together with interaction at public events to formulate the ideas on how to customize their vehicles.

“The trend of using the Internet’s search functions, forums and social media outlets, along with the peer-to-peer interaction of public car shows, is something that has remained consistent in compact-performance since its inception,” stated Gavin Knapp, SEMA senior market research manager. “It’s an intriguing consistency, especially when compared to other niches, such as light-truck, midsize and fullsize vehicles, where consumers are less likely to make their vehicle a focal point of their social scene.”

The SEMA Annual Market Report is conducted yearly to help SEMA-member companies understand the industry and make informed business decisions. SEMA research reports are available to SEMA members at no cost, and to nonmembers at a nominal fee. SEMA research reports are listed and can be accessed at www.SEMA.org/research.

Thu, 09/18/2014 - 14:38

By SEMA Editors

 2014 SEMA Annual Market Report
The 2014 SEMA Annual Market Report provides insight on the compact performance, street performance, light-truck, off-road, restyling, restoration, street rod and custom and racing niches.
  

While the current sales are far from the boom of the late ’90s and early 2000s, the compact-performance segment continues to show a slow climb of consistent growth over the past few years. The main factors supporting the growth are an increase in small-car sales and sustained high gas prices. According to the 2014 SEMA Annual Market Report, the compact-performance niche, which is currently valued at more than $5 billion, continues to offer an expanding opportunity for specialty-equipment companies.

In the compact-performance segment, accessory and appearance sales are a main driver for the market, comprising 46.5% of the total share. Performance products come in second with 32.6% in sales, followed by wheels, tires and suspension accessories, making up 20.9% of the total market.

This information and more is available through the recently released 2014 SEMA Annual Market Report. Members: Download a free copy of the 2014 SEMA Annual Market Report, which provides detailed insight on the compact-performance, street-performance, light-truck, off-road, restyling, restoration, street rod and custom, and racing niches.

Taking a closer look at the behavior of consumers interested in compact-performance helps determine where and how they learn about specialty-equipment products and gather product and styling ideas for their vehicles. The two main sources where compact-performance enthusiasts gather product information and styling concepts are the Internet, capturing 71.4% of the enthusiasts, and car and truck shows, which is 66.1% of enthusiasts. This combination reveals a lifestyle trend that has been constant in the market—the consumers use technology, such as the Internet and social media, together with interaction at public events to formulate the ideas on how to customize their vehicles.

“The trend of using the Internet’s search functions, forums and social media outlets, along with the peer-to-peer interaction of public car shows, is something that has remained consistent in compact-performance since its inception,” stated Gavin Knapp, SEMA senior market research manager. “It’s an intriguing consistency, especially when compared to other niches, such as light-truck, midsize and fullsize vehicles, where consumers are less likely to make their vehicle a focal point of their social scene.”

The SEMA Annual Market Report is conducted yearly to help SEMA-member companies understand the industry and make informed business decisions. SEMA research reports are available to SEMA members at no cost, and to nonmembers at a nominal fee. SEMA research reports are listed and can be accessed at www.SEMA.org/research.