By Kyle Cheng

From May 20–29, SEMA conducted a survey of more than 1,800 professionals within the specialty-equipment industry to check in on how they were doing. Overall, our industry continues to maintain a positive outlook and is beginning to move past the disruption.

The number of companies that are “mostly business as usual” jumped from 17% in early April to 28% at the end of May. Overall, almost 90% of companies said they are “mostly business as usual” or “impacted short-term, but will get through it.” As restrictions start to lift, businesses are beginning to return to more normalcy.

In the coming months, businesses that experienced setbacks will undertake a variety of plans to return to full operations. Approximately 42% plan on taking measures to increase customer and employee safety, and 30% are allowing employees to work remotely. Few businesses chose to close facilities or lay off staff during the pandemic, and most plan to completely re-open or re-hire some staff in the coming months.

By the end of 2020, 69% of companies anticipate having the same or more staff as they had before the virus outbreak started.

About half of all companies surveyed applied for financial assistance over the last few months, particularly the Payment Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) from the Small Business Administration. More than 70% of companies applying for aid report that they have received at least some of the funding.

Companies primarily turned to banks to apply for financial assistance, with nearly half using small local banks or credit unions.

Despite the disruption over the past few months, our industry remains optimistic about their ability to push through. Three-fourths of those surveyed said they are confident in their company’s plan moving forward.

By Kyle Cheng

From May 20–29, SEMA conducted a survey of more than 1,800 professionals within the specialty-equipment industry to check in on how they were doing. Overall, our industry continues to maintain a positive outlook and is beginning to move past the disruption.

The number of companies that are “mostly business as usual” jumped from 17% in early April to 28% at the end of May. Overall, almost 90% of companies said they are “mostly business as usual” or “impacted short-term, but will get through it.” As restrictions start to lift, businesses are beginning to return to more normalcy.

In the coming months, businesses that experienced setbacks will undertake a variety of plans to return to full operations. Approximately 42% plan on taking measures to increase customer and employee safety, and 30% are allowing employees to work remotely. Few businesses chose to close facilities or lay off staff during the pandemic, and most plan to completely re-open or re-hire some staff in the coming months.

By the end of 2020, 69% of companies anticipate having the same or more staff as they had before the virus outbreak started.

About half of all companies surveyed applied for financial assistance over the last few months, particularly the Payment Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) from the Small Business Administration. More than 70% of companies applying for aid report that they have received at least some of the funding.

Companies primarily turned to banks to apply for financial assistance, with nearly half using small local banks or credit unions.

Despite the disruption over the past few months, our industry remains optimistic about their ability to push through. Three-fourths of those surveyed said they are confident in their company’s plan moving forward.

Land Rover will launch its first hybrid Discovery as part of a roster of updates aimed at boosting the model’s sales, which continue to fall below expectations.

Photos of this camouflaged prototype show a substantial disguise for what is described by a Land Rover source as a “model-year update,” suggesting the changes are more far reaching than the usual equipment upgrades and light tweaks. More interesting, however, is that the Disco will soon be available as a hybrid-electric model alongside its combustion engine siblings.

Land Rover has yet to officially confirm which hybrid powertrain it’s going to use for the Discovery. It’s possible the brand is considering introducing a plug-in hybrid variant with the four-cylinder P400e system used on the Range Rover and Range Rover Sport.

However, very likely it’s going to be a mild hybrid, using the 48V system added to the Range Rover last year. The only current Land Rover system suitable for a car of this size and weight is the latest 3.0L straight-six turbo engine mated to a starter/generator and 48V battery.

However, given the Discovery’s diesel-heavy mix, expect such a system to be introduced in the four- and six-cylinder oil-burners for the seven-seat SUV’s launch, likely at the end of 2020.

Updates such as this will be crucial as Jaguar Land Rover aims to avoid fines under the EU’s fleet average CO2 target. The brand’s two biggest hopes for achieving this will be the upcoming Discovery Sport and Evoque plug-in hybrids, which are set to go on sale in the coming weeks. They use a 200hp, 1.5L three-cylinder gas engine and a 108hp electric powertrain for an electric-only range of about 31 miles.

Photo credit: Brian Williams, SpiedBilde

This story was originally published on June 4, 2020. For more industry news, visit SEMANews.com and subscribe to SEMA News at the bottom of the webpage to get the latest updates straight to your inbox, twice a week.

Land Rover will launch its first hybrid Discovery as part of a roster of updates aimed at boosting the model’s sales, which continue to fall below expectations.

Photos of this camouflaged prototype show a substantial disguise for what is described by a Land Rover source as a “model-year update,” suggesting the changes are more far reaching than the usual equipment upgrades and light tweaks. More interesting, however, is that the Disco will soon be available as a hybrid-electric model alongside its combustion engine siblings.

Land Rover has yet to officially confirm which hybrid powertrain it’s going to use for the Discovery. It’s possible the brand is considering introducing a plug-in hybrid variant with the four-cylinder P400e system used on the Range Rover and Range Rover Sport.

However, very likely it’s going to be a mild hybrid, using the 48V system added to the Range Rover last year. The only current Land Rover system suitable for a car of this size and weight is the latest 3.0L straight-six turbo engine mated to a starter/generator and 48V battery.

However, given the Discovery’s diesel-heavy mix, expect such a system to be introduced in the four- and six-cylinder oil-burners for the seven-seat SUV’s launch, likely at the end of 2020.

Updates such as this will be crucial as Jaguar Land Rover aims to avoid fines under the EU’s fleet average CO2 target. The brand’s two biggest hopes for achieving this will be the upcoming Discovery Sport and Evoque plug-in hybrids, which are set to go on sale in the coming weeks. They use a 200hp, 1.5L three-cylinder gas engine and a 108hp electric powertrain for an electric-only range of about 31 miles.

Photo credit: Brian Williams, SpiedBilde

This story was originally published on June 4, 2020. For more industry news, visit SEMANews.com and subscribe to SEMA News at the bottom of the webpage to get the latest updates straight to your inbox, twice a week.

Land Rover will launch its first hybrid Discovery as part of a roster of updates aimed at boosting the model’s sales, which continue to fall below expectations.

Photos of this camouflaged prototype show a substantial disguise for what is described by a Land Rover source as a “model-year update,” suggesting the changes are more far reaching than the usual equipment upgrades and light tweaks. More interesting, however, is that the Disco will soon be available as a hybrid-electric model alongside its combustion engine siblings.

Land Rover has yet to officially confirm which hybrid powertrain it’s going to use for the Discovery. It’s possible the brand is considering introducing a plug-in hybrid variant with the four-cylinder P400e system used on the Range Rover and Range Rover Sport.

However, very likely it’s going to be a mild hybrid, using the 48V system added to the Range Rover last year. The only current Land Rover system suitable for a car of this size and weight is the latest 3.0L straight-six turbo engine mated to a starter/generator and 48V battery.

However, given the Discovery’s diesel-heavy mix, expect such a system to be introduced in the four- and six-cylinder oil-burners for the seven-seat SUV’s launch, likely at the end of 2020.

Updates such as this will be crucial as Jaguar Land Rover aims to avoid fines under the EU’s fleet average CO2 target. The brand’s two biggest hopes for achieving this will be the upcoming Discovery Sport and Evoque plug-in hybrids, which are set to go on sale in the coming weeks. They use a 200hp, 1.5L three-cylinder gas engine and a 108hp electric powertrain for an electric-only range of about 31 miles.

Photo credit: Brian Williams, SpiedBilde

This story was originally published on June 4, 2020. For more industry news, visit SEMANews.com and subscribe to SEMA News at the bottom of the webpage to get the latest updates straight to your inbox, twice a week.

Land Rover will launch its first hybrid Discovery as part of a roster of updates aimed at boosting the model’s sales, which continue to fall below expectations.

Photos of this camouflaged prototype show a substantial disguise for what is described by a Land Rover source as a “model-year update,” suggesting the changes are more far reaching than the usual equipment upgrades and light tweaks. More interesting, however, is that the Disco will soon be available as a hybrid-electric model alongside its combustion engine siblings.

Land Rover has yet to officially confirm which hybrid powertrain it’s going to use for the Discovery. It’s possible the brand is considering introducing a plug-in hybrid variant with the four-cylinder P400e system used on the Range Rover and Range Rover Sport.

However, very likely it’s going to be a mild hybrid, using the 48V system added to the Range Rover last year. The only current Land Rover system suitable for a car of this size and weight is the latest 3.0L straight-six turbo engine mated to a starter/generator and 48V battery.

However, given the Discovery’s diesel-heavy mix, expect such a system to be introduced in the four- and six-cylinder oil-burners for the seven-seat SUV’s launch, likely at the end of 2020.

Updates such as this will be crucial as Jaguar Land Rover aims to avoid fines under the EU’s fleet average CO2 target. The brand’s two biggest hopes for achieving this will be the upcoming Discovery Sport and Evoque plug-in hybrids, which are set to go on sale in the coming weeks. They use a 200hp, 1.5L three-cylinder gas engine and a 108hp electric powertrain for an electric-only range of about 31 miles.

Photo credit: Brian Williams, SpiedBilde

This story was originally published on June 4, 2020. For more industry news, visit SEMANews.com and subscribe to SEMA News at the bottom of the webpage to get the latest updates straight to your inbox, twice a week.

Land Rover will launch its first hybrid Discovery as part of a roster of updates aimed at boosting the model’s sales, which continue to fall below expectations.

Photos of this camouflaged prototype show a substantial disguise for what is described by a Land Rover source as a “model-year update,” suggesting the changes are more far reaching than the usual equipment upgrades and light tweaks. More interesting, however, is that the Disco will soon be available as a hybrid-electric model alongside its combustion engine siblings.

Land Rover has yet to officially confirm which hybrid powertrain it’s going to use for the Discovery. It’s possible the brand is considering introducing a plug-in hybrid variant with the four-cylinder P400e system used on the Range Rover and Range Rover Sport.

However, very likely it’s going to be a mild hybrid, using the 48V system added to the Range Rover last year. The only current Land Rover system suitable for a car of this size and weight is the latest 3.0L straight-six turbo engine mated to a starter/generator and 48V battery.

However, given the Discovery’s diesel-heavy mix, expect such a system to be introduced in the four- and six-cylinder oil-burners for the seven-seat SUV’s launch, likely at the end of 2020.

Updates such as this will be crucial as Jaguar Land Rover aims to avoid fines under the EU’s fleet average CO2 target. The brand’s two biggest hopes for achieving this will be the upcoming Discovery Sport and Evoque plug-in hybrids, which are set to go on sale in the coming weeks. They use a 200hp, 1.5L three-cylinder gas engine and a 108hp electric powertrain for an electric-only range of about 31 miles.

Photo credit: Brian Williams, SpiedBilde

This story was originally published on June 4, 2020. For more industry news, visit SEMANews.com and subscribe to SEMA News at the bottom of the webpage to get the latest updates straight to your inbox, twice a week.

By SEMA Washington, D.C., Staff

The U.S. Senate passed a bill by unanimous vote to provide companies more flexibility on the use of funds from the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP). The U.S. House of Representatives has already passed the bill which now goes to President Trump to be signed into law. Highlights of the “Paycheck Protection Program Flexibility Act” include:

• Extends from 8 weeks to 24 weeks the period of time for PPP expenses to be forgiven and extend the rehiring deadline to December 31;
• Increases from 25 to 40 percent the amount of nonpayroll expenses (such as rent, utility payments and mortgage interest) eligible for loan forgiveness;
• Extends the expiration date of the program from June 30 to December 31;
• Increases the amount of time before loans payments begin from 6 months to 1 year; and
• Extends loan terms from two to five years.

The SBA is still accepting PPP loan applications. As of June 3, the SBA had processed 4.5 million loans for a total of $511 billion of $660 billion of total program funding currently available. Under the current program, the two-year SBA loans offer a 1% annual interest rate issued through banks and local lenders. The SBA will forgive that portion of the loan used to cover payroll, rent, mortgage interest, and utilities for eight weeks if a small business retains its employees and payroll levels. Visit SBA PPP Loans for more information.

Questions? Contact Stuart Gosswein at stuartg@sema.org.

By SEMA Washington, D.C., Staff

The U.S. Senate passed a bill by unanimous vote to provide companies more flexibility on the use of funds from the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP). The U.S. House of Representatives has already passed the bill which now goes to President Trump to be signed into law. Highlights of the “Paycheck Protection Program Flexibility Act” include:

• Extends from 8 weeks to 24 weeks the period of time for PPP expenses to be forgiven and extend the rehiring deadline to December 31;
• Increases from 25 to 40 percent the amount of nonpayroll expenses (such as rent, utility payments and mortgage interest) eligible for loan forgiveness;
• Extends the expiration date of the program from June 30 to December 31;
• Increases the amount of time before loans payments begin from 6 months to 1 year; and
• Extends loan terms from two to five years.

The SBA is still accepting PPP loan applications. As of June 3, the SBA had processed 4.5 million loans for a total of $511 billion of $660 billion of total program funding currently available. Under the current program, the two-year SBA loans offer a 1% annual interest rate issued through banks and local lenders. The SBA will forgive that portion of the loan used to cover payroll, rent, mortgage interest, and utilities for eight weeks if a small business retains its employees and payroll levels. Visit SBA PPP Loans for more information.

Questions? Contact Stuart Gosswein at stuartg@sema.org.

By Della Domingo

Show organizers are actively working with leading experts to develop standards and protocols that will create an optimal environment to conduct business while emphasizing the health and well being of those at the event.

Registration for the 2020 SEMA Show, Tuesday-Friday, November 3–6, at the Las Vegas Convention Center in Las Vegas, is available at www.SEMAShow.com/register.

The annual gathering featuring automotive innovation is set to take place in the fall at a time when analysts anticipate the marketplace will begin its path to recovery, positioning the SEMA Show to be vital in helping businesses move toward a successful 2021. Show organizers are actively working with leading experts to develop standards and protocols that will create an optimal environment to conduct business while emphasizing the health and well being of those at the event.

The SEMA Show’s annual booth space selection process began earlier this month with more than 1,800 exhibiting companies participating. The Show is comprised of 12 individual industry sectors and affords buyers the opportunity to find products to build their core business or venture into new areas of growth with complimentary product and service offerings. Education, new products and trend spotting are the typical draws at the event and this year will continue based on the support the industry has shown thus far.

“We know the SEMA Show this year will be fundamental to helping businesses connect and move forward. We take that role very seriously, but not at the expense of the health and safety of the industry,” said Tom Gattuso, SEMA vice president of events. “We’re confident that we will build a suitable environment that gives people certainty that they are not at risk to congregate, yet still allows us to leverage the Show’s position on the calendar to help the industry recover more quickly.”

Gattuso notes that the 2020 SEMA Show will likely look different from previous SEMA Shows, but assures the industry that the high levels of value and quality of business to which visitors are accustomed will remain the same.