SEMA

The SEMA Memorial Scholarship Fund awarded $307,000 to 106 individuals this year. The financial awards include scholarships for current students and loan-forgiveness awards to employees of SEMA-member companies.

Truck Hero announced it will offer its 2018 SEMA Show truck build, “Ultimate Tailgate,” a custom ’19 Ford F-350 Lariat, at the Barrett-Jackson Collector Car Auction in Scottsdale, Arizona, October 23, with all proceeds from the sale benefiting the Building Homes for Heroes organization.

Despite the COVID-19 disruption, consumers are more confident, optimistic and in a better financial position today than they were during the Great Recession of 2007–2009. They are shopping more and, as restrictions ease, returning to in-store retail. In May 2020, retail sales at motor vehicle and parts dealers jumped 44% from April—the highest increase ever recorded. Additionally, most consumers think that now is a good time to consider buying a car.

SEMA’s annual market report has always been a valued resource for automotive specialty-equipment businesses as they chart their positioning and growth within the marketplace. Given the current business climate, the recently released “2020 SEMA Market Report” couldn’t be more timely help for understanding market trends as we turn the corner into 2021.