Despite ongoing disruptions in the economy, 70% of automotive specialty-equipment manufacturers report sales growth over the past year, according to the new “SEMA State of the Industry Report 2021.”
The United States and the European Union (EU) have agreed to end a three-year dispute over steel and aluminum tariffs. Effective January 1, 2022, the United States no longer imposed 25% tariffs on steel (sheets, bars, tubes, etc.) and 10% on aluminum and is instead using a quota system for those imports from EU countries. The agreement will also apply to derivative products made in the EU and subject to the tariffs, such as steel bumper stampings. The Trump administration imposed the metal tariffs in 2018 under Section 232 of U.S. trade law, citing that dependence on foreign sources posed a national security threat. Argentina, Australia, Brazil and South Korea were excluded based on quotas, and Canada and Mexico were eventually excluded based on the United States–Mexico–Canada Agreement. Although the tariffs have been imposed worldwide, a primary issue to be addressed is global over-production of the metals, especially by China.
SEMA Launch Pad started in 2013 as a partnership between SEMA Education and the Young Executives Network (YEN). The goal was to promote entrepreneurship in the automotive aftermarket by giving innovators and builders under age 40 a chance to showcase their products before a panel of judges at the SEMA Show. For 2021, the age limit was removed to make it easier for more participants to qualify, and the amount of cash prizes and other considerations were increased, with more participants than ever featured in SEMA’s publications and social-media channels.
The products featured below are from SEMA Data member companies that have attained Gold- or Platinum-level data, which means that their product data is robust and complete—likely to drive customer purchase decisions. SEMA Data members meeting data scorecard requirements are invited to submit product releases for consideration to enews@semadatacoop.org.
One of the biggest recent trends in the automotive industry was prevalent at the 2021 SEMA Show: the rise of custom electric vehicles (EVs). More builders than ever before have embraced going electric to create completely custom vehicles that incorporate electric drivetrains. Never before has the industry seen so many battery packs and motors replacing gas engines in old-school rides, hot rods, slammed trucks, and sports cars.
Since you can’t come to the show, we’re going to bring the show to you. That was the theme for the inaugural Performance Racing Industry (PRI) Road Tour held October–December 2020 when the organization summoned members of its creative department to travel to 100 race-parts manufacturers across the country and document their stories in the midst of a global pandemic.
Traditionally, wheels and tires are among the first upgrades that vehicle owners make to their cars or trucks. In fact, SEMA Market Research has identified them as “gateway drugs” to further vehicle modification, making them key products driving consumer engagement with the aftermarket.
Global Tire Expo—Powered by TIA—was created in 1997 as a result of a merger of the International Tire Expo and the SEMA Show. Since then, it has grown into one of the world’s largest tire expositions under the direction of the Tire Industry Association (TIA). At the 2021 SEMA Show, the Expo hosted an annual membership meeting and honors luncheon, a trio of educational workshops, a press conference and a reception to celebrate its 100th anniversary.