INDUSTRY NEWS
SEMA Industry Indicators: Global Unrest Roils Markets; U.S. Economy Remains Relatively Sound
Published monthly, “SEMA Industry Indicators” provides a glimpse into the state of global markets and their potential impact on the specialty-equipment industry.
Russia’s invasion of Ukraine in March upset commodity and equity exchanges as traders worked to understand the impact the invasion would have on markets. Russia is the world’s largest exporter of wheat and the second-largest exporter of oil, providing 30%–40% of Europe’s oil, gas and coal. Both countries are also major exporters of commodities such as neon gas that are used to produce semiconductors. Several auto companies with production facilities in the two countries have suspended operations.
The Federal Reserve was set to raise the federal funds rate by 25 basis points in March, with additional moves of 25 basis points in the future to address inflation concerns.
Outside of Ukraine-related uncertainty, the domestic economy is holding up well. Economic activity in the first quarter may have been negatively impacted by the Omicron variant, as it was by the Delta variant, but the spread of the virus slowed rapidly as spring approached. GDP growth, excluding the volatile inventory investment component (final sales), should look good over the coming months, advancing in the range of 3%–4%, a notable pickup from 1% in the second half of 2021.
To learn more, visit www.sema.org/research to download the latest “SEMA Industry Indicators” report.
Industry Veteran RJ de Vera Joins SEMA as Vice President of Marketing
As SEMA’s vice president of marketing, industry veteran RJ de Vera will develop and implement a modernized multichannel marketing strategy with a digital-first focus.
SEMA announced RJ de Vera as its new vice president of marketing. de Vera comes to SEMA after 12 years at 3M, a Fortune 100 company, including the last seven as global leader of digital marketing and public relations for the Meguiar’s Car Care brand. He will be developing and implementing a modernized multichannel marketing strategy for SEMA with a digital-first focus to expand brand awareness and build customer affinity for SEMA and its members.
“RJ is an industry icon, having worked in and with aftermarket specialty businesses for nearly 30 years,” said SEMA Senior Vice President of Operations Bill Miller. “It’s a thrill to have him join the SEMA leadership team. He will surely be an asset to our growth in the coming years, and we look forward to seeing what he will bring to the organization.”
Prior to 3M/Meguiar’s, de Vera worked with OEMs to build corporate image vehicles, including Honda, Lexus, Mitsubishi, Mazda and Scion. He also helped American Racing, Veilside Japan and Vorsteiner design and market aftermarket parts and accessories, and he consulted on automotive-related marketing initiatives with numerous brands, including Pepsi Co., Valvoline, Boost Mobile, Michelin/BFGoodrich and Microsoft/Xbox.
SEMA Show Attendees: Book Your Hotel Now Through onPeak
onPeak not only offers discounted nightly rates for SEMA Show participants but also offers reduced resort fees so you can save even more on your stay.
Showgoers booking through onPeak—the SEMA Show housing partner—receive guaranteed low rates on a wide range of hotel properties at locations on and off the Las Vegas Strip.
onPeak not only offers discounted nightly rates for SEMA Show participants but also offers reduced resort fees so you can save even more on your stay.
SEMA has negotiated exclusive, discounted nightly rates at the best hotels in Las Vegas, but you can only get the discounted rates when you book through the SEMA Show’s official hotel provider, onPeak.
When making your hotel reservations through the SEMA Show Travel & Lodging page, you are receiving the most affordable and convenient hotel options through SEMA’s partnership with onPeak—the only official hotel provider for the 2021 SEMA Show. All negotiated rates provided by onPeak include resort fees and allow you to change or cancel your reservation without any financial penalties.
More information about the 2022 SEMA Show, to be held November 1–4, is available on www.SEMAShow.com.
CARB Assessing Fees for Aftermarket EOs
The SEMA Emissions Compliance Center assists members with ensuring that their performance products are emissions-legal.
For the last seven years, the SEMA Compliance Center has assisted members with ensuring that performance products are emissions-legal. This primarily involved preparation of California Air Resources Board (CARB) Executive Order (EO) applications and emissions laboratory testing. SEMA has also worked closely with CARB to streamline the application procedures and ensure that adequate staffing is available at CARB to handle anticipated added volume.
CARB introduced new procedures on January 1, 2022. SEMA Compliance Center staff has submitted applications following the new guidance, but there is very limited information regarding the successful implementation of these procedures.
CARB is also in the process of implementing fees for EO applications to offset the cost of additional staffing. The fees are heavily dependent on the new procedures; therefore, it is SEMA’s position that the fees should not be implemented until the new procedures have been proven to accomplish the stated goal of streamlining the process.
As of press time, CARB was proceeding with the assessment of fees to be effective for applications submitted after March 31, 2022. SEMA was opposed to this early start date and was working with CARB board members and California government representatives to push the date back.
For more information, contact Peter Treydte, SEMA director of emissions compliance, at petert@sema.org or 909-978-6673.
