With many businesses in the automotive specialty-equipment market experiencing consolidation and some of the biggest names in the automotive sphere at the center of the activity, mergers and acquisitions have become important topics of discussion. As the market began to recover from the Great Recession, consolidation became a growing trend. Since then, private equity (PE) firms have continued to actively invest in aftermarket companies.
Often thrown about in today’s trendy business and marketing circles, “rich data” can be a confusing buzz term. Nevertheless, it’s become an essential component in the aftermarket supply chain for everyone from manufacturers to warehouse-distributors to retailers. Consequently, manufacturers can obtain a real advantage in mainstream markets if they grasp and follow the latest rich-data best practices.
An entire generation of aftermarket pioneers may remember cruising the boulevard and blaring Bob Dylan’s “The Times They Are a-Changin’” from their recently invented stereo-cassette radios in the ’60s. Now, five decades later, another generation of aftermarket product developers is giving those words a whole other meaning for today’s vehicle-electronics consumers.
SEMA offers its 6,600-plus member companies a variety of business tools and resources to help their businesses succeed and prosper. Whether you are a manufacturer, retailer, jobber, distributor, rep or installer, SEMA is here to help you make smarter business decisions; be more strategic and targeted with your promotions; save money through group purchases; and network with key businesses and leaders in the industry. For the latest details on association benefits and upcoming activities, visit www.sema.org/benefits.
The SEMA Garage’s Tech Transfer program was originally conceived as a way to help member companies acquire original-equipment manufacturer (OEM) computer-aided design (CAD) data, making it possible to quickly produce parts that fit the latest models. By logging into the Tech Transfer online portal, a member has access to OEM CAD data and the opportunity to request specific data for one or more vehicles.
Although life for the local retail outlet has become tougher in the digital age, the traditional brick-and-mortar store is far from dead. In fact, many online “Goliath” merchants are ironically discovering the inherent advantages of brick and mortar and opening “real” storefronts of their own.
Exhibits at the annual SEMA Show can offer some useful indications of what is trending in the automotive aftermarket in a given year. For those who weren’t able to attend and see for themselves, media coverage following the Show often points to some hot items as well. In surveying these sources and conversing with exhibitors, SEMA News observed a few trends worth mentioning for 2017. The following is a brief look at what the editorial team discovered.
Although cyber threats on Fortune 500 companies make headlines, victims come in all shapes and sizes. Ponemon Institute, a Michigan-based research center dedicated to research on privacy, data protection and information security, found that 51% of surveyed CEOs reported experiencing a data breach not just daily but hourly.
There’s a reason why the tire and wheel section remains one of the largest display areas of the annual SEMA Show in Las Vegas. For consumers, tires and wheels continue to be one of the first, best and most basic ways to personalize a passenger car or light truck. Whether enhancing looks and stance from the get-go or breathing new life into a well-traveled vehicle, consumers love their wheel-and-tire packages. And through a variety of performance and style options aimed at every taste, the specialty-equipment industry stands readier than ever to fulfill their custom desires.
SEMA News spoke with SEMA’s council and network leaders to find out what’s in the pipeline for the coming year and to get their thoughts about the emerging trends and the challenges they can expect to face based on what their organizations are seeing in their respective marketplaces. Not surprisingly, many council and network chairs viewed the Recognizing the Protection of Motorsports (RPM) Act as essential to the continued viability of the automotive aftermarket industry.