A Look at Specialty-Equipment and Automotive Market Signposts

The search for marketplace information is never-ending. As the economy fluctuates, new technologies emerge and changing tastes shape sales, savvy industry professionals constantly look for indicators that will aid them in making business decisions based on more than mere supposition. While no one can accurately and consistently predict the course of things, knowing which way we’re going can confirm whether we’re facing a sunset or the dawn.

(And What Can We Do About It?)

The SEMA Education Institute (SEI) recently delved into this topic through an in-depth panel discussion at the 2012 SEMA Show. The presenters included Mickey Andrade, marketing manager of HRE Wheels; James Lawrence, CEO of Power Automedia; Jim Liaw, co-founder and president of the Formula D Drifting Championship; and Evan Smith, editor of Muscle Mustangs & Fast Fords magazine. Highly experienced in the youth market, the four painted a picture of a young demographic displaying tremendous shifts in interests and buying habits. According to the panelists, these changes offer both challenges and new opportunities for the automotive specialty-equipment market.

How to Cover the Basics and More

Whether they be OEM “dollar vehicles” or shop display cars, the aftermarket loves to promote itself through project builds and other collectible autos. Many retailers or garages will have one or more in the lot or showroom to wow customers. Manufacturers, of course, use them to showcase products at consumer automotive events and trade shows. At the annual SEMA Show, you’ll scarcely find a booth without one.

Build vehicles are valuable commodities, so whether your business keeps them on display at the shop or takes them on the road to tout your brand, you’ll want to have them properly insured. Yet, adequately covering them can be complicated.

Evolving Trends and Modern Technology Keep Product Manufacturers on Their Toes

Anyone who has ever walked into a retail store knows that the number of car-care options available can be overwhelming, even to the most hardcore car guy. It’s not much easier for the product manufacturer, either. Paints are getting harder and more durable, so car-care developers have to reformulate their products to keep up with constantly evolving technology.

Car care encompasses a wide range of surfaces, from paint to wheels and tires. Each offers several material options, such as clear coat vs. matte and chrome vs. aluminum. There are literally hundreds of products specifically designed for each type

Why and How to Hire the Best

Let’s say you’ve launched a start-up company and are ready to sell your first line (or lines) of new product. Or perhaps you are a small to medium manufacturer looking to take sales to a whole new level. Or maybe you head the marketing department of a company in need of growing its sales force. In each case, you’re likely considering the ability of a manufacturer’s rep to help you reach your goals. If so, you won’t be the first who employed the services of an expert to gain entry to key markets and increase sales of established lines.

Selling to the Young Motorsports Segment

There is little doubt that motorsports has matured as a mainstream sporting genre in the last five decades, helping to grow the performance aftermarket into a stable, nearly $30-billion industry. Of course, the hope is that both motorsports and the industry will also stay forever young amid this maturation, with fresh new faces rejuvenating the racing scene and manufacturers continuing to revitalize their product lines. So which racing segments are “young” today, and how does the industry engage them?

Why Every Business Owner Needs a Plan

It’s as inevitable as death and taxes: If you’re a business owner, one way or another, you’ll eventually leave your enterprise. The only question is how—and whether you’ll do so on your own terms.

Will you retire gracefully? Pass your company on to family? Opt for a management buyout? Go for a merger or acquisition? Or will unforeseen circumstances force your exit sooner than expected?

For Manufacturers, It’s the Ultimate Match

Building a brand, informing business partners and educating consumers are key factors in marketing a product successfully. And while manufacturers may be experts at innovation and development, few also possess the expertise to publicize and promote their products for optimal sales in media ranging from print to web and from brochure to billboard. That is the business of advertising agencies. Finding the right one should be every manufacturer’s ultimate promotional goal.

While the economy continues to influence the tire and wheel markets, the greatest impacts on the industry have resulted from the elimination of the tariffs on Chinese tires, the steady growth of lower rolling resistance tires, advances in technology and the proliferation of Internet research, according to knowledgeable wheel-and-tire pros and media. They shared their views for this latest look at trends in their segments of the specialty-equipment marketplace.

“Power Buyers” Reveal How They Find Products

Developing a great product is only the first step in creating a successful business. The next is to get that product into the hands of consumers. To do that, manufacturers need to forge links in the distribution chain, moving their products to the warehouse distributors, jobbers and retail outlets that eventually place the parts in the hands of end users.