By Ashley Reyes

Heads up, truck and off-road builders! The SEMA Truck and Off-Road Alliance (TORA) is accepting applications for its TORA Feature Vehicle Showcase at the 2025 SEMA Show, November 4-7, Las Vegas, until Friday, August 1. Located on the outside walkway between North Hall and West Hall of the Las Vegas Convention Center, known as the TORA Feature Vehicle Trail, the showcase features an impressive lineup of up to 10 standout builds that demonstrate the latest trends and business opportunities driving today's truck and off-road markets.  

Benefits of Applying  

• Get your build and brand in front of thousands of industry pros, buyers, and media 
• Compete for the TORA Best in Show Award 
• Boost your brand with digital and social exposure 
• $500 of your $1,500 entry goes to support SEMA Cares 

Qualifications  

Applications are being accepted in the areas of SUV, side-by-side, lifted truck, lowered truck, overland, off-road, EV/hybrid and CUV/crossover. Each vehicle should demonstrate superior design, craftsmanship and quality.  

Interested applicants must be a current SEMA and TORA member, and manufacturers must be exhibiting at the SEMA Show. 

Don't miss your chance to shine! Apply here or contact TORA Council Director Denise Waddingham at deniselw@sema.org with any questions. 

From the SEMA Washington, D.C., office

President Trump signed H.R. 1, the "One Big Beautiful Bill Act," into law on Friday, July 4. The new comprehensive tax law permanently extends several key tax incentives for businesses and expands several long-standing pro-growth tax policies in the coming years.  

The SEMA-supported law provides tax certainty to American businesses and includes several key provisions that benefit SEMA member companies, making this a massive win for specialty aftermarket businesses.  

Key provisions in the new law include:  

• Tax Rate Certainty: Make permanent the current tax rates for individuals and pass-through businesses, which were scheduled to increase at the end of 2025. 
• 199a deduction made permanent: Pass-through businesses will permanently be able to deduct 20% of their business income. 
• Section 179 expensing: Raises the cap for small-business expensing under Sec. 179 from $1,000,000 to $2,500,000, with a higher phase-out threshold. Sec. 179 covers investments, including cars/work vehicles, office equipment, business machinery and computers. 
• Full expensing for R&D and capital investments: Permanently allows 100% immediate expensing for research & development (R&D) and investments in qualified property acquired on or after January 19, 2025. 
• Depreciation allowance for qualified production property: Allows 100% immediate deductibility of certain investments in new factories and improvements. 
• Expanded business interest deduction: Newly eligible deductions include any trailer or camper that is designed to provide temporary living quarters for recreational, camping or seasonal use and is designed to be towed by a motor vehicle. 
• Estate exemption: Increases and permanently extends the estate and lifetime gift tax exemption to $15 million per person (indexed to inflation), which was previously scheduled to drop to $7 million per person in 2026. 
• State and Local Tax (SALT) Deduction Cap: Increases the SALT deduction cap from $10,000 to $40,000 annually for households earning up to $500,000 through 2029. The SALT deduction will return to a maximum of $10,000 in 2030. 
• New markets tax credit: Permanently extends this tax credit to increase investment in low-income communities. 

The law also includes several automotive-specific provisions that will impact both the vehicles that automakers produce and incentives associated with purchasing new vehicles, including electric vehicles (EVs): 

• EV tax incentives: The law eliminates the EV tax incentive ($7,500 for the purchase of a new vehicle and $4,000 for a used EV) starting on October 1. 
• CAFE: Fuel-economy penalties are now eliminated. These penalties had previously incentivized automakers to produce more fuel-efficient vehicles to avoid penalties. 
• Buy American Incentive for Vehicles: A new, major provision encourages the purchase of American-made cars, trucks and SUVs. From 2025 to 2028, individuals can deduct up to $10,000 if they buy an American-made vehicle. These deductions decline past taxable income thresholds of $100,000 for individuals and $200,000 for joint filers. 

SEMA thanks those in the Senate and House of Representatives who engaged with and listened to members of SEMA's community of aftermarket businesses and automotive enthusiasts to ensure that pro-growth legislation champions businesses of all sizes and gives entrepreneurs the tools they need to compete in today's economy.  

Questions? Reach out to Juan Mejia, SEMA's senior manager for federal government affairs, at JuanM@sema.org. 

Image courtesy of Shutterstock

From the SEMA Washington, D.C., office

President Trump signed H.R. 1, the "One Big Beautiful Bill Act," into law on Friday, July 4. The new comprehensive tax law permanently extends several key tax incentives for businesses and expands several long-standing pro-growth tax policies in the coming years.  

The SEMA-supported law provides tax certainty to American businesses and includes several key provisions that benefit SEMA member companies, making this a massive win for specialty aftermarket businesses.  

Key provisions in the new law include:  

• Tax Rate Certainty: Make permanent the current tax rates for individuals and pass-through businesses, which were scheduled to increase at the end of 2025. 
• 199a deduction made permanent: Pass-through businesses will permanently be able to deduct 20% of their business income. 
• Section 179 expensing: Raises the cap for small-business expensing under Sec. 179 from $1,000,000 to $2,500,000, with a higher phase-out threshold. Sec. 179 covers investments, including cars/work vehicles, office equipment, business machinery and computers. 
• Full expensing for R&D and capital investments: Permanently allows 100% immediate expensing for research & development (R&D) and investments in qualified property acquired on or after January 19, 2025. 
• Depreciation allowance for qualified production property: Allows 100% immediate deductibility of certain investments in new factories and improvements. 
• Expanded business interest deduction: Newly eligible deductions include any trailer or camper that is designed to provide temporary living quarters for recreational, camping or seasonal use and is designed to be towed by a motor vehicle. 
• Estate exemption: Increases and permanently extends the estate and lifetime gift tax exemption to $15 million per person (indexed to inflation), which was previously scheduled to drop to $7 million per person in 2026. 
• State and Local Tax (SALT) Deduction Cap: Increases the SALT deduction cap from $10,000 to $40,000 annually for households earning up to $500,000 through 2029. The SALT deduction will return to a maximum of $10,000 in 2030. 
• New markets tax credit: Permanently extends this tax credit to increase investment in low-income communities. 

The law also includes several automotive-specific provisions that will impact both the vehicles that automakers produce and incentives associated with purchasing new vehicles, including electric vehicles (EVs): 

• EV tax incentives: The law eliminates the EV tax incentive ($7,500 for the purchase of a new vehicle and $4,000 for a used EV) starting on October 1. 
• CAFE: Fuel-economy penalties are now eliminated. These penalties had previously incentivized automakers to produce more fuel-efficient vehicles to avoid penalties. 
• Buy American Incentive for Vehicles: A new, major provision encourages the purchase of American-made cars, trucks and SUVs. From 2025 to 2028, individuals can deduct up to $10,000 if they buy an American-made vehicle. These deductions decline past taxable income thresholds of $100,000 for individuals and $200,000 for joint filers. 

SEMA thanks those in the Senate and House of Representatives who engaged with and listened to members of SEMA's community of aftermarket businesses and automotive enthusiasts to ensure that pro-growth legislation champions businesses of all sizes and gives entrepreneurs the tools they need to compete in today's economy.  

Questions? Reach out to Juan Mejia, SEMA's senior manager for federal government affairs, at JuanM@sema.org. 

Image courtesy of Shutterstock

From the SEMA Washington, D.C., office

A new trade agreement with Vietnam is expected to reshape how many U.S. companies source and export goods, and arrives just as President Trump reaches a self-imposed July 9 deadline for additional tariff agreements with dozens of other countries. The July 3 announcement of a new trade deal with Vietnam establishes a 20% tariff on the products Vietnam exports to the United States (thus replacing the originally proposed 46% reciprocal tariff). There will also be a 0% tariff on U.S. exports to Vietnam.

The deal comes with an important caveat regarding transshipments (more details below).

Key Takeaways for SEMA members and industry members: 

• Consider Vietnam as a more predictable and lower-risk production alternative to China.
• Take advantage of tariff-free export opportunities into Vietnam.
• Review your Vietnam-based sourcing for any Chinese-origin content.
• Watch for future guidance on enforcement standards for the 40% transshipment penalty.

More Analysis on What This Means for Businesses

For automotive specialty-equipment businesses, the announcement provides both an opening and new compliance considerations.

In recent years, Vietnam has become an increasingly important manufacturing partner for U.S. companies, largely due to steep tariffs imposed on Chinese goods during President Trump's first term, which President Biden kept in place. Those measures pushed companies to diversify their supply chains, and Vietnam emerged as a leading alternative, especially for electronics, textiles and furniture. Many automotive suppliers have followed that trend, with companies turning to Vietnamese facilities for components, accessories and electronics.

Now, with this formal tariff deal in place, Vietnam stands out as a viable and stable production base, especially for businesses looking to move production out of China.

However, the deal includes an important caveat: the U.S. intends to clamp down on goods that are rerouted through Vietnam by companies looking to reduce the cost of tariffs. This means that products that originate in other countries (especially China), and are only minimally processed in Vietnam, will face a 40% transshipment tariff.

• Specific guidance and enforcement criteria remain unpublished, but companies relying on Vietnam-based suppliers should evaluate their sourcing and manufacturing processes to avoid penalties.

The most encouraging development is Vietnam's 0% tariff commitment on U.S. exports, including vehicles with large engine displacement. This opens doors for U.S. manufacturers, performance brands and specialty parts suppliers seeking to enter or expand sales in Southeast Asian markets.

Next Steps

For the Vietnam agreement, SEMA will continue to monitor implementation and advocate for clear, fair standards on behalf of our members. For other nations, expect a flurry of announcements as the upcoming July 9 deadline is reached.

Questions? Contact Juan Mejia, SEMA's senior manager for federal government affairs, at jmejia@sema.org.

Image courtesy of Shutterstock

From the SEMA Washington, D.C., office

A new trade agreement with Vietnam is expected to reshape how many U.S. companies source and export goods, and arrives just as President Trump reaches a self-imposed July 9 deadline for additional tariff agreements with dozens of other countries. The July 3 announcement of a new trade deal with Vietnam establishes a 20% tariff on the products Vietnam exports to the United States (thus replacing the originally proposed 46% reciprocal tariff). There will also be a 0% tariff on U.S. exports to Vietnam.

The deal comes with an important caveat regarding transshipments (more details below).

Key Takeaways for SEMA members and industry members: 

• Consider Vietnam as a more predictable and lower-risk production alternative to China.
• Take advantage of tariff-free export opportunities into Vietnam.
• Review your Vietnam-based sourcing for any Chinese-origin content.
• Watch for future guidance on enforcement standards for the 40% transshipment penalty.

More Analysis on What This Means for Businesses

For automotive specialty-equipment businesses, the announcement provides both an opening and new compliance considerations.

In recent years, Vietnam has become an increasingly important manufacturing partner for U.S. companies, largely due to steep tariffs imposed on Chinese goods during President Trump's first term, which President Biden kept in place. Those measures pushed companies to diversify their supply chains, and Vietnam emerged as a leading alternative, especially for electronics, textiles and furniture. Many automotive suppliers have followed that trend, with companies turning to Vietnamese facilities for components, accessories and electronics.

Now, with this formal tariff deal in place, Vietnam stands out as a viable and stable production base, especially for businesses looking to move production out of China.

However, the deal includes an important caveat: the U.S. intends to clamp down on goods that are rerouted through Vietnam by companies looking to reduce the cost of tariffs. This means that products that originate in other countries (especially China), and are only minimally processed in Vietnam, will face a 40% transshipment tariff.

• Specific guidance and enforcement criteria remain unpublished, but companies relying on Vietnam-based suppliers should evaluate their sourcing and manufacturing processes to avoid penalties.

The most encouraging development is Vietnam's 0% tariff commitment on U.S. exports, including vehicles with large engine displacement. This opens doors for U.S. manufacturers, performance brands and specialty parts suppliers seeking to enter or expand sales in Southeast Asian markets.

Next Steps

For the Vietnam agreement, SEMA will continue to monitor implementation and advocate for clear, fair standards on behalf of our members. For other nations, expect a flurry of announcements as the upcoming July 9 deadline is reached.

Questions? Contact Juan Mejia, SEMA's senior manager for federal government affairs, at jmejia@sema.org.

Image courtesy of Shutterstock

By SEMA News Editors

The automotive aftermarket's biggest event is back, November 4-7, in Las Vegas, and the case for attending has never been stronger.

From cutting-edge innovations to eye-catching custom builds, the SEMA Show is where the automotive aftermarket's future comes to life. This one-of-a-kind trade event brings together top professionals from all segments all around the world to explore the latest products, tools, accessories, techniques, trends and more shaping the industry.

All you need is a compelling case for your boss--and SEMA News has just the thing.
 

Make Your Case With a Custom Letter

We've created a customizable sample letter to help you secure approval to attend. The letter highlights how your time at the SEMA Show can directly benefit your team and company--whether through new vendor connections, hands-on education and product demos, skill-building sessions or business insights.

👉 Download the sample letter (PDF).

Act fast—share the sample letter with your boss now to get the green light before registration fees increase from $75 to $100 after Friday, September 26. Learn more at semashow.com/register. 
 

Show Features That Deliver Real Value

On top of aisles of countless automotive brand booths, this year's event is packed with immersive Show features and experiences designed to deliver ROI, including:

Below are seven reasons why you need to secure their registration (available online here and at the bottom of this article) for this year's SEMA Show:

• Exhibitors: Discover the latest product and vehicle trends across dozens of product categories: Trucks, SUVs & Off-Road; Restyling & Car Care Accessories; Powersports & Utility Vehicles; Business Services; Mobile Electronics & Technology; Racing & Performance; Hot Rod Alley; Restoration Marketplace; Collision Repair & Refinish; Tools & Equipment; Global Tire Expo--Powered by TIA (tires) and Wheels & Accessories; and First-Time and Featured Exhibitors.
• New Products Showcase: Visit the New Products Showcase to discover thousands of the latest exhibitor products displayed in one location. Use the SEMA Show mobile app's "Product Scanner" feature to scan and download product photos and exhibitor information that will remain on your app long after the SEMA Show has ended.
• Education: SEMA Show Education is the single most crucial week of the year to power a professional development plan for your business and career. Through sessions and unique, immersive programs that explore the industry's most significant challenges and offer immediate takeaways, there is something for every automotive professional.
• Networking: The SEMA Show is where connections are built--network with exhibitors, industry leaders and VIPs/celebrities from more than 140 countries and regions. Use the Show's mobile app to view lists of all events, seminars, conferences, celebrity appearances, and speakers, including date, time, and location. In addition, this year's program includes SEMA Council & Networks receptions, happy hours and meetings--all designed to help you advance your business and grow your network. You'll also have the opportunity to meet face-to-face with others in the industry and build meaningful relationships that'll lead to real results and high-quality connections.
• Show Features: The SEMA Show is teeming with the latest innovations and trends, showcased in several dedicated areas like the SEMA Battle of the Builders presented by Mothers; the SEMA FutureTech Studio; the outdoors Optima Village; feature vehicle displays; SEMA Garage: ADAS, Emissions and Product Development; the Collision Repair & Refinish Stage; the Overland Experience; the SEMA Show Art Walk, the International Pavilion and more to be announced.
• Show Events: Unique events and activations, such as the SEMA Show Kickoff Breakfast, the SEMA Industry Honors (formerly Banquet) now at the iconic Fontainebleau, and vehicle demonstrations will provide ample opportunities for the industry to unite.
• And much more: Of course, attending the SEMA Show in Las Vegas is the best way to boost an automotive professional's business and career path, but be sure to make the most of your time in Vegas with ancillary events like after-hours networking and SEMA Fest, a celebration of motorsports, music and car culture. Note: Your SEMA Show badge does not provide access to SEMA Fest. Visit SEMAFest.com to stay up-to-date and discover when tickets will be available.

Online registration for qualified professional attendees is $75 per person through Friday, September 26. Starting September 27, registration online or on-site will be $100. A SEMA Show badge includes access to both the SEMA Show and AAPEX. Deadlines and fees for other registration categories can be found at semashow.com/register. 

Hotel reservations, including for several new properties in Las Vegas, are available at the guaranteed lowest rates exclusively for Show attendees through SEMA's official hotel provider, onPeak.

For more information about the 2025 SEMA Show, visit semashow.com. Sign up for updates on SEMA Fest at semafest.com.

By SEMA News Editors

Your must-have industry advantage is just a click away. Download the "2025 SEMA Market Report" today to stay ahead in a rapidly shifting marketplace.

The "2025 SEMA Market Report" is the go-to source for the insights shaping what's next for the aftermarket. While market conditions evolve rapidly, understanding fundamental consumer spending patterns and category preferences remains your most powerful competitive weapon.

What's Inside the "2025 SEMA Market Report"

• 2024 consumer spending analysis.
• Industry size and scope breakdown.
• Vehicle modification patterns: What consumers are buying.
• Regional market performance.
• Category growth indicators: Which segments are accelerating.

Go Deeper During Our Live Virtual Event on Thursday, July 10

Scheduled for Thursday, July 10, at 1:00 p.m. EDT/10:00 a.m. PDT, SEMA's market research team will host a LIVE webinar to help you unlock the "why" behind the numbers and provide the opportunity for you to ask your most pressing questions.

What You'll Get:

• Live Expert Analysis: Industry specialists break down key findings.
• Q&A Session: Direct access to report authors and market analysts.
• Competitive Intelligence: Insights your non-member competitors won't access.

Click here for more information or to register for the webinar.

By SEMA News Editors

Your must-have industry advantage is just a click away. Download the "2025 SEMA Market Report" today to stay ahead in a rapidly shifting marketplace.

The "2025 SEMA Market Report" is the go-to source for the insights shaping what's next for the aftermarket. While market conditions evolve rapidly, understanding fundamental consumer spending patterns and category preferences remains your most powerful competitive weapon.

What's Inside the "2025 SEMA Market Report"

• 2024 consumer spending analysis.
• Industry size and scope breakdown.
• Vehicle modification patterns: What consumers are buying.
• Regional market performance.
• Category growth indicators: Which segments are accelerating.

Go Deeper During Our Live Virtual Event on Thursday, July 10

Scheduled for Thursday, July 10, at 1:00 p.m. EDT/10:00 a.m. PDT, SEMA's market research team will host a LIVE webinar to help you unlock the "why" behind the numbers and provide the opportunity for you to ask your most pressing questions.

What You'll Get:

• Live Expert Analysis: Industry specialists break down key findings.
• Q&A Session: Direct access to report authors and market analysts.
• Competitive Intelligence: Insights your non-member competitors won't access.

Click here for more information or to register for the webinar.

By Ashley Reyes

The SEMA Future Leaders Network (FLN) will help kick off the 2025 Street Machine Nationals in St. Paul, Minnesota, with a networking mixer for young professionals in the automotive aftermarket industry.

Taking place on Friday, July 18, from 7:15 a.m.–9:00 a.m. at QA1 Headquarters, 9574 217th Street West, Lakeville, Minnesota, the morning mixer will enable current and prospective members to connect in person before the start of the biggest muscle car show of the year.

During the event, attendees will expand their networks, enjoy complimentary breakfast snacks and learn how FLN programs can support their professional growth. The mixer will run in conjunction with the QA1 Open House featuring guided tours of the QA1 facility and its operations.

RSVP for the mixer here.

To learn more about the SEMA Future Leaders Network (FLN), visit sema.org/fln.

By Ashley Reyes

SEMA is honoring eight up-and-coming changemakers whose achievements are driving progress across the automotive aftermarket for the returning Visionary 8 Awards. Last year's SEMA Visionary 8 Award recipients were honored at the 2024 SEMA Show.

The SEMA Visionary 8 Award presented at the 2025 SEMA Show will recognize eight rising stars age 35 and under who are on track to change and/or advance the automotive specialty-equipment industry. If you know of a young entrepreneur or professional who deserves to be recognized for their outstanding industry achievements, we would like to hear from you. 

The SEMA Visionary 8 Award honors up-and-coming talent making significant achievements in their companies and driving progress for future generations. A “Visionary 8” recipient may have played a key role in improving product development, energizing marketing efforts, upgrading customer interaction, or leveraging new and emerging technologies to expand company reach. They could also be budding talents at an established company, entrepreneurs building their own brands, or innovators who have launched companies that might become big names in the future. No matter what their role is, each honoree is filled with fresh ideas, enthusiasm, and drive to succeed. 

When reviewing applications, SEMA looks for candidates that have active industry involvement and the demonstrated talent, innovation, integrity, success, and leadership that is needed to become a driver of the industry. Visionary 8 recipients will be recognized at the 2025 SEMA Show in Las Vegas.  

SEMA is also accepting nominations for other prestigious SEMA Industry Awards at sema.org/awards until Friday, August 15. The SEMA Industry Awards are presented to individuals and companies that have made outstanding contributions to the automotive specialty-equipment industry during the past year. The program recognizes honorees in six different categories: Channel Partner of the Year, Content Creator of the Year, Gen-III Innovator of the Year, Manufacturer of the Year, Person of the Year and Visionary 8.  

The 2025 SEMA Show festivities will shift into gear on Tuesday, November 4, with the Kickoff Breakfast, where 15 cutting-edge New Product Awards will be unveiled alongside top honors for Channel Partner of the Year and Manufacturer of the Year. 

On Thursday, November 6, the Visionary 8 and SEMA's Best Engineered Vehicle of the Year winner will be announced live at SEMA Central. The momentum will continue the same day at the newly reimagined industry homecoming--SEMA Industry Honors--now staged at the iconic Fontainebleau. This red-carpet-style gathering brings together the industry's biggest names to spotlight standout achievements, including Content Creator of the Year, Gen-III Innovator of the Year and the coveted Person of the Year.  

Learn more and submit your nominations at sema.org/awards.