By Matt Kennedy

Download the “SEMA Industry Perspectives Report” to find out more about the state of the automotive specialty-equipment industry.

Download the new “SEMA Industry Perspectives Report” at www.sema.org/market-research to find out more regarding the state of the automotive specialty-equipment industry along with current and projected product trends.

More than three-fourths of specialty-equipment businesses surveyed expect their sales to grow next year. Manufacturers are particularly optimistic, with 85% reporting they expect growth for next year. Most industry businesses also reported adding new products and growing their customer bases in the past year.

It should come as no surprise that the automotive specialty-equipment industry increasingly views social media as a key marketing platform. Roughly 90% of manufacturers and retailers reported using social media to promote their businesses in the past year, and most have increased their presence on social media platforms. While social has become a key piece of the puzzle, more traditional channels, such as trade-show exhibits or automotive events and print (magazine or catalog) continue to provide a foundation for their marketing strategies.

Want more information about the trends affecting the automotive specialty-equipment market? Check out the latest “SEMA Industry Indicators Report” to learn how movements in the broader economy may impact your business strategy. Monthly indicator reports are available for free at www.sema.org/market-research.

By Matt Kennedy

Download the “SEMA Industry Perspectives Report” to find out more about the state of the automotive specialty-equipment industry.

Download the new “SEMA Industry Perspectives Report” at www.sema.org/market-research to find out more regarding the state of the automotive specialty-equipment industry along with current and projected product trends.

More than three-fourths of specialty-equipment businesses surveyed expect their sales to grow next year. Manufacturers are particularly optimistic, with 85% reporting they expect growth for next year. Most industry businesses also reported adding new products and growing their customer bases in the past year.

It should come as no surprise that the automotive specialty-equipment industry increasingly views social media as a key marketing platform. Roughly 90% of manufacturers and retailers reported using social media to promote their businesses in the past year, and most have increased their presence on social media platforms. While social has become a key piece of the puzzle, more traditional channels, such as trade-show exhibits or automotive events and print (magazine or catalog) continue to provide a foundation for their marketing strategies.

Want more information about the trends affecting the automotive specialty-equipment market? Check out the latest “SEMA Industry Indicators Report” to learn how movements in the broader economy may impact your business strategy. Monthly indicator reports are available for free at www.sema.org/market-research.

By SEMA Washington, D.C., Staff

President Donald Trump issued an Executive Order directing the federal government to make it easier for small businesses to band together and offer retirement plans to their workers. The White House order notes that regulatory burdens and overhead expenses can be costly and discourage small companies from setting up such plans. President Trump directed the U.S. Department of Labor to expand its current rules under which a business can join a retirement plan paid into by multiple companies, called Multiple-Employer Plans (MEPS), even when the companies have no direct affiliation or connection such as the same industry trade association. The U.S. Treasury Department was directed to review its rules on required minimum distributions to see if retirees can spread out their 401(k), IRA or other retirement savings over a longer period. The new changes are not automatic. The Labor and Treasury Departments will first review the issue and publish proposed rules subject to public comment, a process that will take months. 

For more information, contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

President Donald Trump issued an Executive Order directing the federal government to make it easier for small businesses to band together and offer retirement plans to their workers. The White House order notes that regulatory burdens and overhead expenses can be costly and discourage small companies from setting up such plans. President Trump directed the U.S. Department of Labor to expand its current rules under which a business can join a retirement plan paid into by multiple companies, called Multiple-Employer Plans (MEPS), even when the companies have no direct affiliation or connection such as the same industry trade association. The U.S. Treasury Department was directed to review its rules on required minimum distributions to see if retirees can spread out their 401(k), IRA or other retirement savings over a longer period. The new changes are not automatic. The Labor and Treasury Departments will first review the issue and publish proposed rules subject to public comment, a process that will take months. 

For more information, contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

President Donald Trump issued an Executive Order directing the federal government to make it easier for small businesses to band together and offer retirement plans to their workers. The White House order notes that regulatory burdens and overhead expenses can be costly and discourage small companies from setting up such plans. President Trump directed the U.S. Department of Labor to expand its current rules under which a business can join a retirement plan paid into by multiple companies, called Multiple-Employer Plans (MEPS), even when the companies have no direct affiliation or connection such as the same industry trade association. The U.S. Treasury Department was directed to review its rules on required minimum distributions to see if retirees can spread out their 401(k), IRA or other retirement savings over a longer period. The new changes are not automatic. The Labor and Treasury Departments will first review the issue and publish proposed rules subject to public comment, a process that will take months. 

For more information, contact Stuart Gosswein at stuartg@sema.org.

SEMA research indicates that the U.S. aftermarket for advanced driver assistance systems (ADAS) and connected vehicle technologies (CVT), though still in its infancy, can be expected to grow into a $1.5 billion industry within the next five years. With so much at stake in these rapidly emerging technologies, SEMA has made identifying ADAS/CVT opportunities for association members a key priority.

SEMA research indicates that the U.S. aftermarket for advanced driver assistance systems (ADAS) and connected vehicle technologies (CVT), though still in its infancy, can be expected to grow into a $1.5 billion industry within the next five years. With so much at stake in these rapidly emerging technologies, SEMA has made identifying ADAS/CVT opportunities for association members a key priority.

Who’s up and coming in the automotive aftermarket? Which young business leaders of tomorrow are already making their marks today? How do they envision the future? What new ideas and innovations might we expect from them, and most importantly, what direction will they take our industry?

Who’s up and coming in the automotive aftermarket? Which young business leaders of tomorrow are already making their marks today? How do they envision the future? What new ideas and innovations might we expect from them, and most importantly, what direction will they take our industry?

By SEMA Editors

Jonathan Mill

Hot Rod General Manager Jonathan Mill, a long-time SEMA Cares committee member, recently termed out of his committee tenure. The following are his reflections on his experiences as well as advice for future volunteers.

SEMA Cares: Why was serving for SEMA Cares important to you?

Jonathan Mill: There are a lot of ways to give back in the association, but SEMA Cares is the only one that is completely selfless. I came from nothing and am very fortunate to have been able to make something of myself. The automotive industry provided that opportunity, and SEMA gave me the tools to make it happen. So when I first found out about SEMA Cares, I knew I had to get involved. Personally, I believe giving back should be a priority to anyone in the position to do so.

SC: What would you like people to know about SEMA Cares?

JM: I want people to know that by taking part in SEMA Cares, be it monetarily or voluntarily, you are absolutely changing the lives of children who need it the most. I urge anyone interested in getting involved to learn about the three charities we support. Go to a pinewood build and interact with the staff and kids involved. There is no amount of money or car parts that will make you as fulfilled as spending some time with the kids involved in these charities. It will really open your eyes and heart to what is most important in this life: love and gratitude.

SC: What were you the most proud of?

JM: The shear dedication of the team I got to work with. A small group of some of the busiest people in our industry didn’t even hesitate to carve out time to give back in a completely selfless manner. There is just not enough of that in this world.

SC: Anything else people should know about SEMA Cares?

JM: SEMA Cares lowers the barrier to give back in a meaningful way. It can be as simple as clicking a few buttons on your phone and making a donation. They take care of everything else. If you are reading this, I urge you to take action right now. It is that easy to make a difference in a child’s life.

For more information about SEMA Cares and how to get involved, visit www.sema.org/sema-cares.