A recent issue of SEMA News focused on the constant changes in the COVID era, and included insight from each SEMA Council & Network leadership talking about the group's latest initiatives, challenges and priorities. Below, are excerpts from WTC Chair Todd Steen. To read the entire article, click here.
"From an industry standpoint, challenges include everything from supply chain to manufacturing to retail. With wheel companies and tire manufacturers, so much comes from overseas and even here in the United States, so when they're short on materials, their distribution channels are impacted."
"I think there are going to be more mergers and acquisitions in the next year or so to strengthen the distribution channels and gain leverage to commit to buying in volume to make it easier to get product."
"Larger wheel sizes on lifted trucks with a lot of accessorizing and aesthetics added to the suspension and tire-and-wheel assembly, and that is a trend that will continue. Everybody thought that was going to be a flash in the pan, but I don't see it slowing down, and we'd be remiss to ignore it. Another trend that's growing and is often overlooked is direct-to-consumer sales. If a manufacturer or retailer does not have an online strategy for selling product and making the consumer experience a pleasurable one, they're missing the boat."
"The buying habits of the tire industry are antiquated because tire sizes are kind of a mystery to some people."
"Another challenge in our industry segment is the RPM Act. Although we are not immediately impacted by it, we are keeping it front and center, knowing that if people can't race cars, they won't need racing and off-road wheels."
Read the entire SEMA News article here.