Wheels were the fourth most-purchased specialty-equipment product in 2007, behind exhaust kits, air intakes and tires.

SEMA members looking to stay competitive in today’s market benefited from last Thursday’s webinar, “Stay Current With Specialty Aftermarket Industry Data,” presented by SEMA Market Research Analyst Ty Michael. 

“There are several reasons why we think that market research data is important and why it can help you,” said Michael. “For one, benchmarking your company's sales growth versus overall industry sales growth. Also, market data can help with planning for which products will sell for which vehicles. In addition to that, following trends could help with determining what consumers are buying and where they are buying from. Ultimately, SEMA market research will assist you in spotting potential market opportunities and ways to help grow your current market share.”

“The presentation focused on highlighting aftermarket trends over the last 10 years, the direction of the current specialty equipment market and sales opportunities within niche markets,” said SEMA Senior Director of Member Services Nathan Ridnouer.

SEMA research shows that the specialty-equipment industry has experienced a steady growth in retail sales since 1995. From 2006 to 2007, retail sales grew from $36.724 to $38.111 billion, a 3.78% increase.

Through May 2008, 24% fewer large cars and 0.2% fewer mid-size cars sold compared to the previous year. However, small-car sales showed a healthy growth of 11%. Forecasts also show that small-car sales will increase by 2%, while midsize car sales will drop 2% and large-car sales will decrease 17%.

In June, 11% of consumers surveyed said they were likely to purchase any specialty-equipment product within the next three months. This translates to 11 million households purchasing custom automotive parts within three months. Of these 11 million households, more than six million plan on purchasing specialty accessories and appearance products, more than six million households plan on purchasing racing and performance products, and more than seven million households plan on purchasing wheels, tires and suspension components.

According to SEMA market research, the top 15 products purchased in 2007 were:
1.    Exhaust Kit – Pipes/Muffler/etc.
2.    Air Intake – Performance Air Filter Replacement
3.    Tires – Performance
4.    Wheels – Custom
5.    Air Intake – Cold Air Intake Conversion
6.    Polish/Wax     
7.    Performance Fluids – Oils, Lubricants, etc.
8.    Springs/Shocks/Suspension/Sway Bars
9.    Exhaust Headers
10.  Brake Caliper/Rotor Kits
11.  Ignition Wires/Spark Plugs
12.  Battery/Battery Wraps
13.  Brake Kits – Performance 
14.  Exterior Lighting – Head Lights/Tail Lights/Lenses/Light Kit
15.  Gauges – Custom

For more original market research, click here.

For an audio or a PDF download of this webinar, along with an archive of past webinars, click here. Also, don’t miss these upcoming webinars:

• Thursday, July 10 – “Selling Has Nothing to Do With Selling," 10 a.m. (PDT) Presented by Rick Farrell, President of Tangent Knowledge Systems.
• Thursday, July 17 – “Leverage Your Company’s Strengths in a Difficult Market,” 10 a.m. (PDT)

Click here to register now.

While the nation's new car and truck dealers continue to make major investments in their dealerships to improve sales and customer satisfaction, one area of potential new business has remained relatively untapped: the $38 billion accessory market.

That's why Phil Brady, president of the National Automobile Dealers Association (NADA), and Chris Kersting, president and CEO of the Specialty Equipment Market Association (SEMA), today announced a first-of-its-kind, comprehensive "Dealer Day" program designed exclusively for NADA members at the 2008 SEMA Show.

"Dealer Day" is designed to give dealer principals several ideas, tools and resources on how to integrate a strong and successful accessory program at their dealerships. The half-day program is scheduled for Wednesday, November 5, at the Las Vegas Convention Center. It's the first time the SEMA Show will dedicate an exclusive program just for NADA members. There is no cost to attend "Dealer Day."

"At a time when many dealers are looking for new ways to generate additional revenue and sales, this program will provide dealers with new ideas and strategies to help improve their bottom-line performance by creating profitable accessory programs," says Brady.

"Through a series of activities and presentations, dealers will learn about what's happening in the specialty industry and discover how profitable an accessory program can be, and they will learn how to successfully incorporate such a program at their dealerships," Kersting says.

While noting that dealer attendance at the SEMA Show has been steadily increasing in recent years, Kersting says the intent of the new dealer program is to make the SEMA Show experience even more meaningful.

Dealers will also learn about several business models, such as partnering with a professional restyling facility, operating an in-house accessory center and balancing factory versus non-factory accessories, Kersting adds. As an added feature, participating dealers will have an opportunity to meet directly with proven experts who will share real-world case studies.

"Educational pursuits are a key element of both the SEMA Show and the NADA convention," says Kersting. "By joining forces to present "Dealer Day," NADA and SEMA will be providing high-value tools and information to help dealers maintain successful and more profitable businesses in today's challenging economic times."

Recognizing that many dealers are already selling accessories, the program will also include information on what's in store for the future, and offer insight into new car-buying trends.

To conclude the half-day program, dealer principals, NADA and SEMA board of directors and other VIP guests can attend a networking reception and a private tour that highlights key areas of the 2-million sq. ft. convention center.

"SEMA is honored to have NADA as a partner to present an exclusive program for dealer principals that will deliver a tremendous take-home value," Kersting says.

To register for the 2008 SEMA Show Dealer Day program, visit www.sema.org/DealerDayReg.

Founded in 1917, NADA represents about 20,000 new-car and -truck dealers with more than 43,000 franchises, both domestic and international. NADA represents dealer interests through legislative and regulatory advocacy, creating dialogue between dealers and automakers and providing services and training programs to help dealers improve their business operations and bottom-line performance. The organization also produces the annual NADA Convention & Exposition.

SEMA, founded in 1963 and comprised of 7,094 member companies, represents the $38.1 billion specialty automotive industry. SEMA produces the premier automotive accessories trade show that features more than 2,000 manufacturers. It is the authoritative source for research, data, trends and market growth information for the specialty auto products industry. The specialty industry provides appearance, performance, comfort, convenience and technology products for passenger cars, light-duty trucks and recreational vehicles.

Members of the SEMA Hall of Fame in front of the new SEMA Hall of Fame Exhibit at the Wally Parks NHRA Motorsports Museum.

Hundreds of enthusiasts and SEMA members were joined by some of the industry’s most respected and renowned leaders, during what was dubbed “SEMA Night” at the Wally Parks NHRA Motorsports Museum on July 2, 2008.
 
Held in conjunction with the museum’s monthly Cruise-In, the event celebrated the official opening of the SEMA Hall of Fame Exhibit. The exhibit is an interactive display that honors SEMA’s legacy, and it will be housed permanently at the Wally Parks NHRA Motorsports Museum in Pomona, California.
 
"The SEMA Hall of Fame is an elite group that we owe a great deal to," said Joel Ayres, chairman of the SEMA HOF/History Task Force. "These are innovators and leaders who are responsible for having developed a $38.1 billion industry. We are excited to honor and recognize the SEMA Hall of Fame through this new exhibit, where consumers and enthusiasts will be able to learn more about them and pay tribute to them as well."
 
Using a touch-screen system, visitors can single out any one of the 125-plus SEMA Hall of Famers and learn about his or her background and the contributions each one made to motorsports and/or the support industry. SEMA Hall of Famers are typically the producers of performance products of all types, along with principals of other industry segments, from superstars of racing to publishing magnates to the leaders who made it all happen.
 
The centerpiece of the display features one of John Force's 2007 Ford Mustang Funny Car bodies that has seen its share of competition. Visitors to the Museum can sit in the interactive car and take it for simulated ride through the history of SEMA.

"Fans get a chance to test their reaction time using the NHRA 'Christmas tree' starting system while actually seated in a Force-team Funny Car," said Tony Thacker, executive director of the Parks Museum. "It's a lot of fun and learning experience. And that's the point of the overall SEMA Hall of Fame exhibit—to educate the public about the creative individuals who created and sustain the hot rod and performance industry. Thanks to SEMA, the public will see firsthand the type of people who were responsible for bringing motorsports and hot rodding to where they are today."
 
SEMA Hall of Famers at the event included Bob Airheart, Ray Bleiweis, Chuck Blum, Pete Chapouris, Jim Deist, Ron Funfar, Harry Hibler, Bob Keller, Burke LeSage, Dave McClelland, Carl Olson, Rick Rollins, Louis Senter, Tom Shedden, Nate Shelton, Bob Spar, Linda Vaughn, Joan Weiand, Dick Wells and Alex Xydias.
 
Four of the SEMA Hall of Famers, Louis Senter, Harry Hibler, Carl Olson and Bob Keller, were named Budweiser Celebrity Judges for the Prolong Cruise Night festivities. Senter, a performance parts maker from the early days, had a difficult time choosing one of the 300-plus hot rods, so he picked two!

"I love 'em all," Senter said. He first tabbed Doc Conroy's 1956 2-door Chevy, which has been a regular at Cruise Night since 2000. Senter's second choice was Ken Sapper's '32 Ford highboy.
 
Former racer and NHRA VP Olson picked a "flawless" '32 Ford 3-window roadster, driven by Brandon Tachajian, whose grandfather Charlie has a collection of more than 80 cars and is a frequent Budweiser pick at Prolong Cruise Night. Hibler, who earned fame as a racer and magazine publisher, chose what he described as "the most unusual vehicle on the lot," a '58 Morris Minor pickup. Owner Bill Borke said the rare truck was primarily used for utility companies in the U.K.
 
A cool, blue-flamed '53 Henry J, owned by Harold Kneller, caught the eye of turbo manufacturer Keller.

"It's the most potent sawing machine I've seen," he joked, noting that it had a supercharger instead of a turbo. Keller is the founder/owner of Turbonetics.
 
The SEMA Hall of Fame Exhibit remains on display at the Wally Parks NHRA Motorsports Museum in Pomona, CA, located at Fairplex Gate 1, 1101 W. McKinley Avenue in Pomona. Phone: (909) 622-2133.

The checkered flag for SEMA's inaugural Pinewood Drag Race Sponsored by Fellers and DUB Publishing drops in less than one month, and if you've been wanting to join the fun but find yourself short on time, consider sponsoring a team.

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It’s all about finding ways to sell more, especially in a tough economic climate. Presenter Mike Madden will discuss a process that works in sales, marketing and product development. You'll learn how to develop an inventory of your assets and competitive strengths within your aftermarket business; develop a picture of marketing opportunities and needs; and create a plan to take advantage of these and related trends with your products.

Madden will also explore:

• What assets do you have that you would like to capitalize on?
• How to stay competitive in today’s market
• Developing a picture of the trends that impact your product's sales
  
• How to change your product and marketing strategies for today’s market trends
  

When: Thursday, July 17, 2008, 10:00 a.m. (PDT)

Presenter: Mike Madden, Manager of Industry Development, Automotive Consulting, CMTC

And don't forget to mark your calendar for our August 14 webinar, "Inventory Management: Mark It Down, Move It Out & Make More Money," presented by Tom Shay of Profits+Plus. Shay will review strategies to make more money on your inventory; increase the turn rate for the sale of your merchandise; determine how much inventory you need in your business every year; and identify how much cash you need to purchase new inventory.

This massive masked wonder is, according spy photographer Brenda Priddy, none other than the never-before-seen 2010 Heavy Duty Dodge Ram. Even under camouflage, this is clearly no ordinary Ram. Priddy says the new HD Ram will likely break cover in January at the North American International Auto Show in Detroit.

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