SEMA eNews Vol. 22, No. 9, February 28, 2019

How the Industry Expects 2019 to Unfold

By Matt Kennedy

  Industry PerspectivesThe "SEMA Industry Perspectives Report" is based on input from more than 800 specialty-automotive businesses.
   

How is your business feeling so far about 2019? A just-released report based on input from more than 800 specialty-automotive businesses found:

  • 61% of specialty-equipment businesses surveyed experienced sales growth over the past year.
  • 73% expect to see their sales increase in 2019. Manufacturers are particularly optimistic, with even very small businesses (<$2M in revenue) expecting both their company and the industry to keep growing this year.
  • Most specialty-automotive parts are still sold in-store. On average, physical retail channels represent 65% of sales.
  • Independent retail and direct-to-consumer sales represent the industry’s fastest-growing channels, with independent specialty retailer/installers accounting for one-fifth of part sales alone.

Want to learn more about the state of our industry? Interested in seeing current and projected product trends? Check out SEMA’s new “SEMA Industry Perspectives Report 2019” at www.sema.org/market-research.

If you haven’t already, also check out SEMA’s “Modern Muscle Car Accessorizers Report.” This new research shines a spotlight on people who own a modified late-model (2010 and newer) Mustang, Camaro or Challenger. The report gives an overview of how this key part of the specialty-automotive customer base goes about customizing their vehicle, their motivations and goals for doing so, and how your business can connect with them. The report is available for free at www.sema.org/market-research.

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