The United States Treasury Department will provide auto suppliers with up to $5 billion in credit to help them continue operating while automakers restructure their businesses during a time of reduced sales. The program is limited to automakers that have received loans through the Treasury’s Troubled Assets Relief Program (TARP), currently General Motors and Chrysler and their direct suppliers.

The program is intended to make sure auto suppliers have access to cash while the automakers and the Obama administration weigh a broader plan to aid the car companies. The “Supplier Support Program” will be administered by the participating automakers since they have a direct relationship with their Tier 1, 2 and 3 suppliers and should know which suppliers need the most aid.

Suppliers interested in participating should contact their lenders to determine whether they can obtain requisite consents to sell their receivables. Once they have done so, they should contact the procurement officer at the participating auto company. Click here for more information.

Most SEMA members are not direct suppliers to the automakers. Nevertheless, the Obama administration has taken other steps to provide credit relief to the small-business community. While the relief is through Small Business Administration loans, it is expected to help unfreeze the broader credit markets as well.

For more information, click here.

The United States Treasury Department will provide auto suppliers with up to $5 billion in credit to help them continue operating while automakers restructure their businesses during a time of reduced sales. The program is limited to automakers that have received loans through the Treasury’s Troubled Assets Relief Program (TARP), currently General Motors and Chrysler and their direct suppliers.

The program is intended to make sure auto suppliers have access to cash while the automakers and the Obama administration weigh a broader plan to aid the car companies. The “Supplier Support Program” will be administered by the participating automakers since they have a direct relationship with their Tier 1, 2 and 3 suppliers and should know which suppliers need the most aid.

Suppliers interested in participating should contact their lenders to determine whether they can obtain requisite consents to sell their receivables. Once they have done so, they should contact the procurement officer at the participating auto company. Click here for more information.

Most SEMA members are not direct suppliers to the automakers. Nevertheless, the Obama administration has taken other steps to provide credit relief to the small-business community. While the relief is through Small Business Administration loans, it is expected to help unfreeze the broader credit markets as well.

For more information, click here.

Congressional lawmakers are once again considering legislation to create a nationwide "Cash for Clunkers" program. The latest bill (H.R. 1550) is entitled the “Consumer Assistance to Recycle and Save Act” (CARS Act) and was introduced on March 17 by Rep. Betty Sutton (D-Ohio).

If enacted into law, the legislation would provide consumers with vouchers worth from $3,000–$5,000 to buy a new car if they scrap a vehicle that is at least eight years old. The new car must have a sticker price less than $35,000 and meet certain fuel economy and emissions ratings. The program would run for calendar years 2009 and 2010. After that, for model years 2011–2016, consumers could get $7,500 vouchers to purchase electric vehicles.

Under the bill, qualification criteria would differ between new vehicles assembled in the United States and vehicles assembled in Canada and Mexico, with the latter held to a higher MPG rating to qualify for the same or lower subsidy. The program would not apply to new vehicles built outside of North America.

Toyota North America and other foreign-based automakers have spoken out against the discriminatory treatment in the legislation.

SEMA has already contacted members of Congress and the news media to express opposition to the scrappage legislation. Timing for action on the legislation is unclear at this point. SEMA will keep members informed.

Congressional lawmakers are once again considering legislation to create a nationwide "Cash for Clunkers" program. The latest bill (H.R. 1550) is entitled the “Consumer Assistance to Recycle and Save Act” (CARS Act) and was introduced on March 17 by Rep. Betty Sutton (D-Ohio).

If enacted into law, the legislation would provide consumers with vouchers worth from $3,000–$5,000 to buy a new car if they scrap a vehicle that is at least eight years old. The new car must have a sticker price less than $35,000 and meet certain fuel economy and emissions ratings. The program would run for calendar years 2009 and 2010. After that, for model years 2011–2016, consumers could get $7,500 vouchers to purchase electric vehicles.

Under the bill, qualification criteria would differ between new vehicles assembled in the United States and vehicles assembled in Canada and Mexico, with the latter held to a higher MPG rating to qualify for the same or lower subsidy. The program would not apply to new vehicles built outside of North America.

Toyota North America and other foreign-based automakers have spoken out against the discriminatory treatment in the legislation.

SEMA has already contacted members of Congress and the news media to express opposition to the scrappage legislation. Timing for action on the legislation is unclear at this point. SEMA will keep members informed.

Congressional lawmakers are once again considering legislation to create a nationwide "Cash for Clunkers" program. The latest bill (H.R. 1550) is entitled the “Consumer Assistance to Recycle and Save Act” (CARS Act) and was introduced on March 17 by Rep. Betty Sutton (D-Ohio).

If enacted into law, the legislation would provide consumers with vouchers worth from $3,000–$5,000 to buy a new car if they scrap a vehicle that is at least eight years old. The new car must have a sticker price less than $35,000 and meet certain fuel economy and emissions ratings. The program would run for calendar years 2009 and 2010. After that, for model years 2011–2016, consumers could get $7,500 vouchers to purchase electric vehicles.

Under the bill, qualification criteria would differ between new vehicles assembled in the United States and vehicles assembled in Canada and Mexico, with the latter held to a higher MPG rating to qualify for the same or lower subsidy. The program would not apply to new vehicles built outside of North America.

Toyota North America and other foreign-based automakers have spoken out against the discriminatory treatment in the legislation.

SEMA has already contacted members of Congress and the news media to express opposition to the scrappage legislation. Timing for action on the legislation is unclear at this point. SEMA will keep members informed.

REVERSE FIELD: The FIA, governing body for Formula One, changed the points system for the series twice in a couple of days. After first announcing that the driver winning the most races will be the series champion, it changed course and said that the current system, which produced a one-point winner in Lewis Hamilton in 2008, will remain for 2009.

TESTING CROWD: More than 10,000 showed up for an IndyCar Series test session Sunday at Barber Motorsports Park in Alabama.

SHUT DOWN: The No. 28 Yates Racing Ford for driver Travis Kvapil will sit on the sidelines until sponsorship can be found for the NASCAR Sprint Cup Series operation.

NEW TOUR: USAC and the Southern Midget Racing Series have joined forces to form the USAC/SMRS Great Plains Midget Racing Series, which will debut April 24.

A NEW CAR: American Le Mans Series owner Don Panoz tipped that his Panoz company may build a new LMP1 sports-car for the 2010 American Le Mans Series season. The Panoz Esperantes currently compete in the GT2 category of ALMS.

TOP DOG: With a dominant performance at Bristol (Tennessee) Motor Speedway, Kyle Busch remained at the top of the National Speed Sport News Power Rankings. The rankings appear weekly in America’s Motorsports Authority.

SUBSCRIBE: National Speed Sport News has been published weekly since 1934. To subscribe to National Speed Sport News, click here for a special industry rate.

REVERSE FIELD: The FIA, governing body for Formula One, changed the points system for the series twice in a couple of days. After first announcing that the driver winning the most races will be the series champion, it changed course and said that the current system, which produced a one-point winner in Lewis Hamilton in 2008, will remain for 2009.

TESTING CROWD: More than 10,000 showed up for an IndyCar Series test session Sunday at Barber Motorsports Park in Alabama.

SHUT DOWN: The No. 28 Yates Racing Ford for driver Travis Kvapil will sit on the sidelines until sponsorship can be found for the NASCAR Sprint Cup Series operation.

NEW TOUR: USAC and the Southern Midget Racing Series have joined forces to form the USAC/SMRS Great Plains Midget Racing Series, which will debut April 24.

A NEW CAR: American Le Mans Series owner Don Panoz tipped that his Panoz company may build a new LMP1 sports-car for the 2010 American Le Mans Series season. The Panoz Esperantes currently compete in the GT2 category of ALMS.

TOP DOG: With a dominant performance at Bristol (Tennessee) Motor Speedway, Kyle Busch remained at the top of the National Speed Sport News Power Rankings. The rankings appear weekly in America’s Motorsports Authority.

SUBSCRIBE: National Speed Sport News has been published weekly since 1934. To subscribe to National Speed Sport News, click here for a special industry rate.

Have you moved on? Up? Know someone who has? Let us know: editors@sema.org.

SEMA Chair-elect Rick Rollins

SEMA Chair-elect Rick Rollins and his company Rollins Performance Marketing will oversee all of the marketing and sales efforts of Percy’s High Performance Inc. According to a recent press release, the move was made to help the company expand its product line and availability throughout the automotive aftermarket distribution network and racing arenas.
“I can’t wait to get focused back on being an inventor,” said Percy’s President Jeff Percival. “With Rick on our team, Percy’s can far better educate the consumer of our not just one-of-a-kind inventions, but many new staple products we are working on."

Laser Design Inc. and GKS Inspection Services announced that Giles Gaskell has joined their Michigan team as business development manager. Gaskell will help expand the market for Laser Design’s 3-D scanning hardware and software solutions and the scanning services offered by GKS Inspection Services.

Last year, off-road pro Heidi Steele made history by becoming the first woman to win two major off-road championships in one season by taking the flag in both the Best in the Desert and SCORE. Now, the Yokohama Tire Corporation-sponsored Steele made history once again by being the first woman to be named Dirt Sport magazine’s 2008 Driver of the Year. "This is a truly amazing and unforgettable feeling," said Steele. "To be recognized and honored with such a prestigious award among the many talented drivers in off-road racing is truly unbelievable.

Automotive research company AutoPacific selected PCGCampbell for its marketing and communications efforts. AutoPacific has specialized in the analysis and research of the automobile industry since 1986. It provides industry analysis, product development, product planning, marketing research and consumer research.

Dirt Sport magazine’s 2008 Driver of the Year Heidi Steele

For the third consecutive year, Meguiar’s Car Polish is the title sponsor of the Living It Out Loud Car Show, hosted by Division Five Rodders for Christ. The car show is a fundraiser and community outreach program for the Division Five Racers For Christ chaplains. For more information, visit www.teamrfc.org.

The D1GP drifting series finalized a deal with the GPI Content Corp. and The Fox Television Station Group to air each of the D1GP USA Championship Points Series events. Each event is anticipated to be broadcast adjacent to high-profile sporting events during the fall 2009 season. With the partnership, D1GP USA viewers will be the largest U.S. audience ever to witness drifting.

IMR Inc. completed its new Repair Shop Tool & Equipment Tracking Study that focuses on tool and equipment purchases. The study, which tracks the month-to-month purchasing habits of automotive repair shops, currently contains three years of data and will continue to build on that information in the coming months.

The crew from Gen-Right Off Road

Gen-Right Off Road hosted a recent Jeep-enthusiast swap meet to help raise money for the California Off-Road Vehicle Association (CORVA), a nonprofit organization dedicated to promoting and protecting the positive aspects of vehicular recreation on public lands. This was the first of what Gen-Right hopes will be at least a biannual happening. Plans are underway for another Gen-Right Consumer Swap Meet on May 9.

Hurst Performance Vehicles' new performance center in Irvine, California, is officially open and producing 2009 Hurst/Hemi Challengers and 50th Anniversary Hurst/Vipers. The new facility is part of the Aria Group Complex featuring more than 50,000 sq. ft. and a workforce of 60 employees.

A green associate sponsorship partnership was developed among Ask.com, JuicedHybrid.com and Hall of Fame Racing’s No. 96 car for the first 18 races of the 2009 NASCAR Sprint Cup season. The program will measure and offset carbon emissions for the No. 96 Sprint Cup entry during each practice session, qualifying session and the race. Carbon offset is a certificate representing the reduction of 1 metric ton (2,205 lbs.) of carbon-dioxide emissions.
The amount of emissions created during standard racing activities will be offset through investments made by Ask.com and JuicedHybrid.com in clean energy projects, such as solar energy and wind farms by purchasing credits through TerraPass.

Have you moved on? Up? Know someone who has? Let us know: editors@sema.org.

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