By Kyle Cheng

The conflict in Ukraine has dominated headlines over the last week, leading to volatility in the commodity and equity markets. The direct impact on the U.S. market is limited, but geopolitical concerns create uncertainty that could impact growth.

According to the most recent “SEMA Industry Indicators” report, the spread of the virus is slowing rapidly and economic activity such as air travel and dining is coming back quickly.

Outside of the Ukraine-related uncertainty, the U.S. economy is holding up well. The spread of the virus is slowing rapidly and economic activity such as air travel and dining is coming back quickly. GDP growth should look good in the coming months.

Consumers are concerned about rising costs and the impact it may have on purchasing power. However, the Federal Reserve is expected to begin raising interest rates in March to attack inflation—although the conflict in Europe may mean they raise rates more slowly.

Want more information on the trends affecting the specialty-equipment industry? Check out the “SEMA Industry Indicators” report each month to learn how movements in the broader economy may impact your business strategy. In this report, published monthly, you’ll get a snapshot of the overall economy and our industry, including:

• Overall economic outlook.
• New-vehicle sales and statistics on auto-parts production.
• Consumer sentiment and spending.
• Economic growth and unemployment.
• Other important industry insights.

To learn more, download the February “SEMA Industry Indicators” report, now available for free at www.sema.org/research.

Also from SEMA Market Research:

SEMA Future Trends—January 2022: In this report, SEMA Market Research provides its outlook for 2022 and beyond for the overall economy, the global supply chain, and the specialty-equipment industry. This report also includes a deep dive into changing consumer demographics and its potential implications for the aftermarket in the future.

By Ashley Reyes

As more people adopt EVs as their daily drivers and become comfortable with the technology, requests for swaps and EV builds will increase. Professional builders receiving these requests and those interested in commissioning a build must have the background knowledge necessary to take on the project and make informed decisions.

SEMA members are invited to learn the main aspects and challenges of swapping electric drivetrains into classic cars during a live webinar, March 23, at 11:00 a.m. (PDT).

Attendees will learn:

• The main components of the EV drivetrain, as well as the available types, both new and used.
• Difficulties in converting to EV.
• Where to start when interested in EV conversions.

Participants leave more equipped to execute a swap in various types of vehicles and learn cautionary lessons that Bream has learned over the years. This is also a great opportunity to connect with the leader of one the first companies to commercialize EV swaps, ask questions, and hear EV West’s robust solution for do it yourself and specialty shops.

Register here.

By Ashley Reyes

The government plays a critical role in any industry. Businesses are impacted by subsidies, taxes and regulations. Elected officials often determine future laws. The wheel and tire industry is not immune to the impact of government.

From tax credits for small businesses to laws that impact the way wheel and tire products are made, distributed and marketed, and even the impact of U.S. Environmental Protection Agency (EPA) overreach, the wheel and tire industry is impacted by government actions. The current RPM Act is a perfect reason for you to understand how this affects the wheel and tire industry.  

SEMA Wheel & Tire Council (WTC) members are invited to learn how they can work with elected officials to help their businesses, and why it’s important to fight for the passage of the RPM Act now during a live webinar, March 17, at 12:00 p.m. (PDT).  

Dan Ingber, SEMA vice president of SEMA government and legal affairs, and John Hotchkis, president at Hotchkis Performance and SEMA Political Action Committee (PAC) chair, will explain:  

• What the SEMA PAC is.
• How the SEMA PAC helps to ensure that elected officials support our industry.
• What the new SEMA Individual Membership is, and how it helps defend your automotive rights.
• The importance of bills such as the RPM Act, and why it matters to wheel and tire companies.

While you’re busy managing your business, SEMA’s government affairs office in Washington, D.C., is advocating to protect the industry and your business. This webinar will guide you on state and federal regulations, and the opportunity to make your voice heard on relevant issues that may affect your business.

Register here.

By Ashley Reyes

EPA overreach. Electric-vehicle mandates. The right to modify your vehicle. These are just a few examples of how automotive restoration rights are being threatened around the United States.  

For the first time ever, individuals can officially join and help win the fiercest battles for their right to enjoy their automotive passion.  

Automotive restoration professionals are invited to learn about SEMA Individual Membership and why becoming a member is imperative for them to defend their automotive rights whenever they are under attack during the SEMA Automotive Restoration Organization (ARMO) general membership and panel discussion, March 11, at 10:00 a.m. (PST).

The discussion will cover the benefits of SEMA individual membership, laws currently impacting the restoration market and why it’s essential that automotive restorers have a voice in each of these fights.  

Attendees will be able to ask questions and a brief report on the council’s current initiatives will also be discussed.

Register here.

By Ashley Reyes

Bids are now being accepted for the custom ’51 Chevrolet 3100 sponsored by WD-40 on the Bring A Trailer (BaT) website until March 7.

Place a bid to own this SEMA Show truck built in partnership with WD-40 and Trad Ronfeldt (crew chief to seven-time Pro-4 off-road racing champion Kyle LeDuc). The full sale amount from this auction, including the BaT buyer’s fee, will be donated to Childhelp—a SEMA Cares charity dedicated to the prevention and treatment of child abuse.

The custom ’51 Chevrolet 3100 is powered by a fuel-injected 383ci Chevrolet stroker V8 that is paired with a four-speed automatic transmission and drives four rear wheels on a custom Currie dually rear axle.

The truck is powered by a fuel-injected 383ci Chevrolet stroker V8 that is paired with a four-speed automatic transmission and drives four rear wheels on a custom Currie dually rear axle. Finished in yellow with simulated patina, the build also features a custom utility bed with three tool compartments on each side, a dropped front axle with power-assisted disc brakes, a four-link coilover rear suspension setup, a Holley Sniper EFI system, MagnaFlow dual side-exit exhaust, distressed leather upholstery, Dakota Digital RTX gauges and an MTX sound system.

To learn more about the build, watch this video and place your bid before the auction ends on March 7.

By SEMA Washington, D.C., Staff

Whether it’s protecting your right to modify your vehicle, standing up for the RPM Act or combating zero-emissions vehicle mandates, there are many issues facing SEMA members in the nation’s capital. With the 2022 midterm elections right around the corner, it’s more important than ever to stand-up and get engaged!

Mark your calendars now to join fellow SEMA members in Washington, D.C., on September 22, for the 2022 SEMA Washington Rally.

During the Rally, you will have the opportunity to meet face-to-face with your lawmakers to discuss the issues that matter most to you and your business.

Registration will officially open later this spring and there is never any cost to participate.

To register or for more information, please contact Christian Robinson at christianr@sema.org.

Off Road Xtreme Hosts VIP Sweepstakes Contest to Experience 2022 Mint 400 Desert Race

Power Automedia has announced that Off Road Xtreme is hosting a sweepstakes giveaway in partnership with The Mint 400, one of the oldest and most prestigious off-road racing events in North America. The sweepstakes will present one lucky winner with a Grand Prize Mint 400 VIP Sweepstakes Package for two guests to experience this off-road desert race in style.

Entries will be accepted until March 4, at 12:00 p.m. (PST), when an  individual will be selected as the winner. There is no purchase required for entry and you can sign up right here.

The Off Road Xtreme and Mint 400 VIP Sweepstakes Package includes:

• 2022 BFGoodrich Tires VIP Hospitality Suite presented by O’Reilly Auto Parts Passes for two people.
• Access to the start/finish VIP hospitality area.
• Exclusive spectating area in Primm.
• Shaded seating.
• TV screens broadcasting the live stream, leaderboard and tracking.
• Exclusive bars—craft, domestic beer, wine and alcohol with reduced prices.
• Breakfast, lunch and dinner prepared by Michelin Star Chef Drew Deckman.
• Private restrooms with flushable toilets.
• (1) T-shirt ticket for affiliated official merchandise stands.
• Midway Access: VIP credentials and wristband allow entrance to the start/finish line midway.

“The Great American Off-Road Race” will take place in Las Vegas from March 9–13. Check out all the latest news or look to see who is racing on the official entry list.

Formula 1 Cancels Russian Grand Prix

Formula 1 has canceled the 2022 Russian Grand Prix, initially set for September 23–September 25 at the Sochi Autodrom. Officials released the following statement:

“The FIA Formula 1 World Championship visits countries all over the world with a positive vision to unite people, bringing nations together.

We are watching the developments in Ukraine with sadness and shock and hope for a swift and peaceful resolution to the present situation.

...Formula 1, the FIA and the teams discussed the position of our sport, and the conclusion is, including the view of all relevant stakeholders, that it is impossible to hold the Russian Grand Prix in the current circumstances.

For more information, visit formula1.com.

Holley LS Fest West Opens Pre-Registration, Ticket Sales for April Event

Holley has announced that pre-registration and ticket sales are now live for the Holley LS Fest West presented by eBay Motors. Set for April 22–24 at Las Vegas Motor Speedway in Las Vegas Valley, the event is a “must” for fans of GM’s high-performance LS engine platform. All LS and current generation LT V8-powered vehicles are invited to participate. The event will feature drag racing classes, autocross, the 3S Challenge, a Show-N-Shine event, the Sac Speed Shop Donut Pit, a dyno challenge, a road-course challenge, off-road “Dirt Destruction” and more. Spectator tickets begin at $25 per day and can be purchased here. Pre-registration is available at lsfest.com/west/registration. For more information, visit lsfest.com/west.

Speedway Motorsports Promotes Leadership at NSS, CMS

Speedway Motorsports has announced veteran executive Matt Greci has been named vice president of events and operations at Nashville Superspeedway. Additionally, Charlotte Motor Speedway’s Doug Cremer and Garrett Carter have been named vice president of events and guest services and vice president of operations, respectively, at “America’s Home for Racing.”

Greci heads to the Music City after nearly 16 years at Charlotte Motor Speedway, where he began his career as a sales department intern, then as the track rental and suite coordinator for corporate sales. Greci moved to the events department in 2008 as events manager before being promoted to vice president of events, a role in which he served since 2020.

A 20-year veteran of Charlotte Motor Speedway’s guest services, operations and events departments, Cremer returns to a familiar role as vice president of events, a position in which he served from 2014–2020. He will lead a team responsible for planning and execution across a robust schedule of events.

After more than eight years with the company, Carter has been promoted to vice president of operations for Charlotte Motor Speedway. He will take the lead role in maintaining and preparing the speedway’s 1,000+ acres to host hundreds of thousands of fans annually for sports and entertainment events.

For more information, visit speedwaymotorsports.com.

Formula DRIFT, PASMAG Continue Tuning 365 Tour Car Show Series

Formula DRIFT and PASMAG have announced the second annual 2022 Tuning 365 Tour schedule. There will be five stops at Formula DRIFT events across the country, including Long Beach (April 1–2), Atlanta (May 6–7), Englishtown (June 10–11), St. Louis (July 15–16), and Utah (September 16–17) for the first time. The car shows showcase project car and truck builds that fans can interact with during breaks in the on-track action. In addition, vehicles receive coverage in print, social media, and an appearance on the “PASMAG Tuning 365” TV show.

Awards are presented at each event, including Editor’s Choice and Driver’s Choice—where a guest Formula DRIFT driver selects his favorite build, and the winner receives a full-page feature in PASMAG. Registration for all stops is open at t365.pasmag.com. For the 2022 Formula DRIFT schedule, visit here. For more information, visit formulad.com or pasmag.com.

For more racing news, visit Performance Racing Industry’s (PRI) website.

Thermo-Tec Automotive Partners With Bone Shaker Jet Truck

Thermo-Tec Automotive Inc. has partnered in sponsorship with Bone Shaker Jet Truck, a custom-built ’81 International Transtar 4300 race truck, boasting 18,000 hp with 12,000 lbs. of thrust from a J79 General Electric Turbo Jet Engine.

Thermo-Tec Automotive Inc. has partnered in sponsorship with Bone Shaker Jet Truck, a custom-built ’81 International Transtar 4300 race truck, boasting 18,000 hp with 12,000 lbs. of thrust from a J79 General Electric Turbo Jet Engine. The J79 GE is an Axial-flow turbo jet built for use in a variety of fighter and bomber aircraft. Some of the major applications include the Convair B-58 Hustler, the LOCKHEED F-104 Star Fighter, and the McDonnell Douglas F-4 Phantom, to name a few. Visit  www.BoneShakerJetTruck.com for the 2022 schedule of events.

JEGS Acquired by Private Equity Firm

Greenbriar Equity Group, a middle-market private equity firm, has acquired a majority position in JEGS Automotive, the national retailer and distributor of high-performance aftermarket auto parts and accessories based in Delaware, Ohio. JEGS, founded in 1960 by the Coughlin family, offers more than two million product SKUs from more than 800 vendors through its website and fulfillment center. The Coughlin family will retain minority ownership. For more information, visit jegs.com.

MidwayPlus Launches Patent-Pending, B2B Portal for Automotive Aftermarket Brands

MidwayPlus—a patent-pending, B2B software solution that enables automotive brands with the ability to service direct resellers in one easy-to-use platform—is going live with its new B2B software platform. It features a robust transaction engine, a brand-to-reseller social feed and a marketplace where brands manage every client interaction on the platform. MidwayPlus allows brands the ability to easily navigate territorial product restrictions. The MidwayPlus team is made up of software development, operations, logistics, sales and marketing experts with more than 20 years of experience in the automotive Industry.  

The B2B Portal is the backbone of the platform. Brands have access to a transaction engine with the ability to serve thousands of direct accounts. Conversely, resellers can access the portal and engage with multiple brands from one account. The MidwayPlus Feed is the platform’s social-media tool. Automotive brands can market directly to their resellers in a B2B context. This allows for the easy distribution of technical data, sales initiatives or product-related news, all the messaging that is intended for a “wholesale-only” audience. The MidwayPlus Marketplace is the brand’s business-development tool. Brands can opt in to the Marketplace and have the ability to discover and connect with high performing resellers. They connect only with the partners they approve of, and can begin to transact almost immediately.  

MidwayPlus software highlights include:

• B2B Portal that give brands the ability to identify, verify and quickly onboard prospective accounts.
• Brands have the ability to manage backorders, pre-orders and open-box items with ease.
• B2B social media that offers a direct line of communication between brands and resellers.
• Access to metrics/benchmarking data that assists brands with their decision-making.
• Brand-controlled marketplace that allows each company to manage its own channel.
• U.S.A. tax compliance for all orders placed with brands on the platform.

Manufacturers can take advantage of Midway Plus’ limited-time introductory licensing fees and free onboarding of their brands. For more information, call 248-955-9002 or email info@midwayplus.com.

Tenneco to be Acquired By Apollo Funds

Tenneco has entered an agreement to be acquired by Apollo Funds, a private asset management company, in an all-cash transaction valued at approximately $7.1 billion. When the transaction is completed, Tenneco will become a private company whose shares will no longer trade on the New York Stock Exchange. The company will continue to operate under the Tenneco name and brand, however. Tenneco is the parent company of DRiV, which includes more than 30 aftermarket brands covering shocks and struts, steering and suspension, braking, sealing, engine, emissions, and maintenance. Brands include Öhlins, Champion, Moog, QuickSteer, Wagner, Fel-Pro and more. For more information, visit tenneco.com.

Rudy’s Tires Wins RimText Contest Benefiting American Cancer Society

After receiving its half-millionth RimText message, 1-800EveryRim OEM Wheels announced the winner of its contest. By being the 500,000th messager, Terry Rutenbeck of Rudy’s Tires of Wiggins, Colorado, will receive a $1,000 cash prize and chose the American Cancer Society as the recipient of an added $1,000 which 1-800EveryRim will donate in the company’s name.

Have some company news you would like to share? Let us know and the news may appear in an upcoming issue of SEMA eNews. Send your items for consideration to editors@sema.org.

By Ashley Reyes

Held regularly at the SEMA Show in Las Vegas, the HRIA Builders Panel Education Session took place in 2021, both entertaining and educating attendees about how to thrive as a hot-rod builder. As with all 2021 SEMA Show seminars, a recording of the seminar “Hot Rod Builders Drive the Vintage Segment, Powered by HRIA” is now available at www.semashow.com/education.

The HRIA Builders Panel Education Session that took place at the 2021 SEMA Show both entertained and educated attendees about how to thrive as a hot-rod builder.

The one-hour program features SEMA Hall of Fame member Rick Love as moderator, with an impressive lineup of award-winning builders: Bobby Alloway, Alloway’s Hot Rod Shop; Jonathan Goolsby, Goolsby Customs; Tim Strange, Strange Motion; Will Posey, Big Oak Garage; and Brian Brennan, author, In the Garage Media.

Viewers will hear the panel’s best-kept secrets and advice for running a successful hot-rod business, what they wish they would have known at the beginning of their careers and how they built a successful brand over the years.

“It’s the people in the industry, and that’s what you have to connect with,” says Brennan. “As a builder or a shop owner, you have to be able to connect with that person [your client]. Some are nice, some are not so nice, but you have to decide ‘what can I work with and what I can’t’ because if you’re not true to yourself or your brand, you’re going to screw up big time. Hone those communication skills you have.”  

Pros and cons of taking a build to car shows, finding and keeping quality employees and utilizing renderings when project planning was also discussed.

The seminar recording is one of many available at www.semashow.com/education. New recordings are added weekly. Other recently added seminars include:

• “DSP Fundamentals: Leverage the Power of DSP to Deliver Great-Sounding Car Audio Systems”
• “Black Ink: Cashflow Management Secrets Your Accountant Never Shared”
• “EV and the Accessorization Game, Powered by PRO”
• “Synthetic Fuels: Paving the Way for the Future of ICEs? Powered by ETTN”

Visit www.semashow.com/education to view and access the entire collection.

This is the upcoming, ’22 VW Amarok undergoing testing in metro Detroit. The new Amarok will represent the second generation of the nameplate and will be based on the next-gen Ford Ranger. As a result, it will be bigger than the last-generation model and will offer more technology and more ground clearance.

Inside, the new Amarok will receive a host of high-quality materials in upper-end trims, aligning with the ongoing trend where truck buyers are looking for more refinement from their trucks as they use them for work, play and personal use. That said, base models more strongly oriented at work will offer barebones cabin accoutrements.

An evolved version of VW's turbodiesel 3.0L V6 will power the truck. In its most powerful form, the engine is rated at 255 hp and 428 lb.-ft. of torque. It’s currently unclear which transmission will do shifting duty, however.

The new model will be built in South Africa and is expected to make its debut over the next few months. There’s nothing official that would suggest that the new Amarok will be sold in the United States.

Photo credit: Brian Williams, SpiedBilde