The emergence of advanced driver-assistance systems (ADAS) has been a boon to automotive consumers. Among other benefits, ADAS is credited with a 1.2% drop in vehicle fatalities last year, along with significantly reduced injuries. What’s more, consumer comfort with these technologies is increasing as OEMs build ADAS into an expanding number of vehicle platforms. The result is a growing aftermarket customer base that expects specialty-equipment products and modifications to integrate seamlessly with their high-tech factory ADAS packages. But is the industry up to the task?
There has been much concern about the economic ramifications for the aftermarket since the beginning of the COVID-19 pandemic in March, but ongoing SEMA market research indicates that an increasing percentage of industry manufacturers and retailers have been busy innovating, adapting, meeting and overcoming the challenges the situation presents. In fact, automotive specialty-equipment suppliers and resellers continue to express general optimism about their prospects going into 2021. (See “The SEMA 2020 Market Report,” p. 86.)
Despite the COVID-19 disruption, consumers are more confident, optimistic and in a better financial position today than they were during the Great Recession of 2007–2009. They are shopping more and, as restrictions ease, returning to in-store retail. In May 2020, retail sales at motor vehicle and parts dealers jumped 44% from April—the highest increase ever recorded. Additionally, most consumers think that now is a good time to consider buying a car.
Advanced driver-assistance systems (ADAS) have continued to work their way to the forefront of automotive technology, providing both a challenge and an opportunity to the specialty-equipment industry. Every year these safety-performance technologies are made available in greater numbers. The following listings include products now offered to owners of older-model cars who want to install safety performance devices.
The decision to forego the SEMA Show in 2020 has been disruptive to all in the industry, but without assurance that the Las Vegas Convention Center would be available for our Show dates, moving forward was no longer feasible.
The SEMA Memorial Scholarship Fund awarded $307,000 to 106 individuals this year. The financial awards include scholarships for current students and loan-forgiveness awards to employees of SEMA-member companies.
From The Hill
On July 10, 2020, SEMA members joined with car clubs, businesses and thousands of enthusiasts to celebrate the 11th annual Collector Car Appreciation Day (CCAD). A wide range of events was held nationwide to commemorate the special day. The celebration was designated with SEMA-requested companion resolutions introduced in the U.S. Congress by the co-chairs of the SEMA-supported Congressional Automotive Performance and Motorsports Caucus. U.S. Senate Resolution 650 was sponsored by Sen. Jon Tester (D-MT) and Sen. Richard Burr (R-NC), while Rep. Bill Posey (R-FL) and Rep. Sanford Bishop (D-GA) sponsored U.S. House of Representatives Resolution 998.
Michigan—Military Vehicles: The Michigan House of Representatives passed SEMA-supported legislation to allow for the titling and registration of historic military-surplus vehicles. Such vehicles are not currently able to be titled or registered for use on highways in the state. The bill awaits consideration by the Senate Committee on Transportation and Infrastructure.
Cadillac CT4-V Blackwing: The CT4-V Blackwing will be powered by a 3.6L twin-turbo V6 engine carried over from the ATS-V, where it made 464 hp and 445 lb.-ft. of torque.
’22 VW Golf Alltrack: The new wagon should be available with most of the hatch’s drivetrain options, including a 48V mild hybrid.
Corvette C8 Z06: A high-revving DOHC 5.5L V8 is expected to be under the hood, based on the racing engine introduced in the C8.R last year.
’22 Hyundai Genesis G70: The current 365hp 3.3L twin-turbocharged V6 will likely carry over so the G70’s V6 doesn’t trounce the 375 hp of the newly developed 3.5L twin-turbocharged V6 in the G80.
Industry news from SEMA-member companies, including Centerforce, CRP Industries, Sparta Evolution and more.
SEMA has announced that due to COVID-19 and concerns that event facilities and services will be unavailable, the SEMA Show will not take place in 2020.
SEMA News appreciates the assistance of the U.S. Department of Commerce’s International Trade Administration and the U.S. Customs and Border Protection (CBP) in shedding light on the key provisions of the new trilateral trade agreement. The USMCA replaced the North American Free Trade Agreement (NAFTA), which had been governing regional trade since 1994.
SEMA research has documented that enthusiasts are working on cars during the pandemic, and looking forward to driving more. And it’s clear that online sales have risen sharply for those companies that have geared up for e-commerce. To satisfy that demand, companies in the specialty aftermarket industry, known for ingenuity and resiliency, have found ways to continue to design, manufacture and ship. Many are offering new products. As the pandemic unfolds, SEMA News will provide exposure for manufacturers as information about their latest products becomes available.
Although the SEMA Show has been cancelled for 2020, the annual event continues to have unique value propositions. Collision-repair professionals attend the SEMA Show every year to learn about new tools and products coming into the auto-body repair market. They also attend the SEMA Show to participate in niche-specific educational seminars and network opportunities focused on their market. Below are media outlets that have recently reported on the 2019 SEMA Show and collision-repair technology.
SEMA’s annual market report has always been a valued resource for automotive specialty-equipment businesses as they chart their positioning and growth within the marketplace. Given the current business climate, the recently released “2020 SEMA Market Report” couldn’t be more timely help for understanding market trends as we turn the corner into 2021.
In late September 1957, Hot Rod’s Eric Rickman traveled north from Los Angeles to the Douglas-Tahoe Airport in Minden, Nevada, (near Reno) for the final meet of the Nevada Timing Association’s drag racing season.