Not to be confused with the annual “SEMA Market Report,” the “State of the Industry Report” is released biannually in the spring and fall and details specific manufacturer and retailer data, sales trends by product category, and popular retail channels and vehicle segments. It explores the industry from a company perspective rather than at the consumer level.
Here’s a first look at the ’23 Nissan Altima while testing in Metro Detroit. The sixth-generation Altima debuted in 2018 at the New York Auto Show as a ’19 model. Since then, there have been virtually no changes made to the model other than some appearance packages and Nissan Safety Shield 360.
The ongoing supply-chain disruption has affected businesses in many ways: shipping delays, production issues, inability to find suppliers and increased costs, to name a few. However, the worst of the effects have likely passed. Most issues, including transportation delays and supply shortages, should improve throughout the year and return to more normal levels by the end of 2022. However, some elevated prices may linger into 2023. See “The Supply-Chain Breakdown” on p. 110.
The COVID-19 pandemic sparked a dramatic surge in online sales beginning in 2020, and the automotive specialty-equipment sector was no exception. Online aftermarket parts sales exceeded 50% of total sales for the first time, and while in-person sales have gained traction again as the pandemic recedes and lockdowns ease, online sales still account for nearly half of total sales and are forecast to remain that way for the foreseeable future.
Industry news from SEMA-member companies, including Truck Hero Inc., VP Racing Fuels Inc., Safelife Group and more.
Eighty-four SEMA Show exhibitors came away from this year’s event proudly touting 2022 Global Media Awards (GMAs). This sought-after recognition from top international journalists serving as judges demonstrates the global appeal of the winning products.
Robert Matranga and his ’55 Chevy named “Brute Force” took the top prize in the eighth annual SEMA Battle of the Builders competition, edging out more than 240 vehicles that were entered into the internationally recognized contest. SEMA Battle of the Builders is widely known as one of the elite platforms for builders to showcase their work and compete for the coveted top honor during the SEMA Show in Las Vegas.
While U.S. economic growth was underwhelming in the third quarter, incoming economic data suggests growth revved up in the fourth quarter, barring any major setbacks from the Omicron coronavirus variant or other major uncertainties, according to the latest “SEMA Industry Indicators” report.
Custom-car builders from all parts of North America entered the 2021 Battle of the Builders competition. Industry veterans competed with newbies looking to make names for themselves. The format remained the same as in previous years, with winners recognized in four different categories: Hot Rod, Truck/Off-Road, Sport Compact and Young Guns (builders under age 27).
February 28, 2022