The U.S. Treasury issued a new loan forgiveness application form for Payroll Protection Program (PPP) loans of $50,000 or less, intending to simplify the loan review process for smaller loan amounts. While the new form was reduced from five to two pages, it still requires the borrower to submit significant documentation (bank statements, tax forms, payment receipts, employee benefit statements, etc.). While welcoming the revised form, SEMA has joined a coalition of companies and organizations seeking a more streamlined process so that small-business owners can invest in jobs and supporting their local economies rather than spending time and resources on paperwork. The PPP has provided 5.2 million loans worth $525 billion to American small businesses, according to the U.S. Treasury.

SEMA was presented with a 2020 Market Development Cooperator Program (MDCP) Award, which will allow SEMA to expand its programs to assist its member manufacturers in exporting products to growing international markets.

Thousands of industry professionals logged onto www.sema360.com on Monday, November 2, to take part in SEMA360—a five-day online trade-only event in which attendees from throughout the world connected with automotive parts manufacturers while discovering new products, industry trends and ideas from leading experts in the specialty-equipment aftermarket.

The SEMA360 New Products Showcase winners were selected from more than 2,200 products across 16 different categories, including Collision Repair & Refinish, Mobile Electronics, Off-Road/4-Wheel Drive, Performance Racing and Performance Street. They represent the most innovative and cutting-edge automotive aftermarket products that will be consumable in 2021.

The annual celebration of industry excellence always marks a SEMA Week high point, no matter the venue. With SEMA360 bridging the gap left by a canceled 2020 SEMA Show, the 2020 SEMA Awards ceremony premiered online at the SEMA YouTube channel on Thursday evening, November 5. Emcee’d by automotive media personalities Jarod DeAnda and Kevin Oeste and featuring a musical band, the event struck an inspirational tone as the association honored the industry leaders, legends and innovators who shined amid a challenging year.

As aftermarket businesses enter the new year, the state of the American economy will be closely watched for sales and market planning. Fortunately, the latest SEMA research indicates considerable good news on the consumer front. In its recently released “State of the American Consumer” report, the SEMA market research department sees many positive signs that consumers are beginning to move past the COVID-19 hit the economy took in spring 2020.

Each year, SEMA members introduce thousands of cutting-edge tools and accessories designed to add enjoyment to vehicle ownership. While some have universal fitments, many have model-specific applications that require significantly more research and development (R&D).

The products featured below are from SEMA Data Co-op (SDC) 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. SDC members meeting data scorecard requirements are invited to submit product releases for consideration to enews@semadatacoop.org.

SEMA360 was a first in many ways. For SEMA, it was a first-time excursion into creating an online trade event. For many manufacturers, attendees and media, it was a first exposure to navigating one. But for all involved, it presented a firsthand learning experience surrounding best practices for the digital marketplaces that are now playing a growing role in business-to-business commerce.