Back in late 2019, the trendlines looked good for the automotive specialty-equipment industry. Then, of course, the 2020 pandemic threw the world into confusion. As lockdowns swept the United States, uncertainty gripped virtually every market sector, including the aftermarket. With the pandemic ebbing, it’s a good time to assess where the industry finds itself and where it may be headed. Enter the latest SEMA 2021 “State of the Industry Report,” now available from SEMA Market Research.
FTC Report on Right to Repair: The Federal Trade Commission (FTC) issued a report to Congress that is highly critical of anti-competitive repair restrictions employed by manufacturers that limit consumer choice. The report is based on industry research gathered at an FTC workshop in 2019 and covers a wide range of products, including automobiles. The FTC noted little evidence to support manufacturers’ justifications for repair restrictions (e.g., safety, cybersecurity, liability and reputational harm, quality of service).
Merriam-Webster defines micromanagement as managing “especially with excessive control or attention to details,” and while it may be easy to define, its presence in an office environment may be difficult to pinpoint because its presence can take many forms: poor communications, a risk-averse workforce, projects that never seem to get completed in a timely manner and—perhaps of most concern to a successful business—a high employee turnover rate. However well-intended, what we generally refer to as micromanagement can have a corrosive effect on an office culture and can hinder efficiency and productivity.
The products featured below are from SEMA Data member companies that have attained Gold- or Platinum-level data, which means that their product data is robust and complete—likely to drive customer purchase decisions. SEMA Data members meeting data scorecard requirements are invited to submit product releases for consideration to enews@semadatacoop.org.
Created in 1969, the SEMA Hall of Fame represents the most prestigious honor that the association can bestow on an individual. It is reserved for outstanding achievers whose work has significantly enhanced the stature and growth of the industry and association. For 2021, SEMA inducted Jessi Combs, Rick Love, Bob Moore and Carl Schiefer, all of whom have made lasting impressions on the automotive world.
The SEMA Board of Directors is composed of industry representatives who volunteer their time to lead and guide the association. They are elected by SEMA-member companies and reflect the trade association’s key membership categories: manufacturers, distributors/retailers, manufacturers’ representatives and services.
“Save Our Race Cars” is the banner uniting the automotive masses as legislative advocates. The latest phase of the saga to ensure that the Recognizing the Protection of Motorsports (RPM) Act becomes law has shattered previous efforts with viral strength. Many will recall first learning of the unreasonable interpretation of the Clean Air Act by the U.S. Environmental Protection Agency (EPA) in 2016, which has sent a chill through the automotive community ever since. The race to pass the RPM Act has now taken on a groundbreaking pace.
Since 1967, manufacturers of automotive aftermarket parts have relied on the SEMA Show to debut their products and conduct business, so after having to spend more than a year mostly separated, the industry is eager to reconnect at the 2021 SEMA Show.
The consensus is clear: The transition to electric vehicles is currently underway and will eventually make a hard push into the restomod segment of the industry. Also worth noting, other than some supply-chain issues with getting parts, the COVID-19 pandemic that has plagued the world over the past year and a half has not quenched consumer thirst for wanting to restore classic cars using modern technology.
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