DIAMOND BAR, CA (06.06.22) – Sales of specialty-equipment parts reached a new high in 2021, increasing to $50.9 billion in retail sales for the first time in history—up from $47.9 in 2020.

The finding comes from the new “2022 SEMA Market Report,” which is available for download at www.sema.org/research, and provides the automotive aftermarket industry a comprehensive review of the specialty-equipment market in 2021. The report includes new data on the U.S. market size, consumer profiling, industry trends and changes in the vehicle population.

SEMA estimates that the growth was driven by strong consumer interest in working on their car or truck, as more than 80% of specialty-equipment consumers reported spending as much, if not more, time working on their personal vehicles as they did during 2020.

“The 2022 SEMA Market Report can help member companies identify key areas of interest for consumers, and where the most money was spent on parts in 2021,” said SEMA Director of Market Research Gavin Knapp. “As our biggest research report of the year, this is a must-read for any business that wants to make strategic, data-driven decisions.”

Restrictions on in-person shopping eased in 2021, prompting consumers to become more comfortable going back into stores to buy parts. The split of in-store versus online sales is 2021 was roughly 50/50 versus 54% online in 2020 and 45% online in 2019. This normalization is expected to continue in 2022.

Pickups remain the single biggest segment in the specialty-equipment parts market. An estimated 13.6 million pickups were modified by consumers in 2021, accounting for a combined 31% of specialty-equipment parts sales.

Ongoing supply-chain issues are also a concern in 2022. More than 90% of specialty-equipment manufacturers, distributors and retailers feel that their business has been impacted by supply-chain-related challenges. This, is turn, is softening expectations regarding 2022 sales.

For more data on the opportunity available in the automotive specialty-equipment market, download the 2022 SEMA Market Report for free today at www.sema.org/research.

This report is the focus of an upcoming SEMA webinar on June 8. Register for the webinar by clicking here.

DIAMOND BAR, CA (06.01.22) – Emerging entrepreneurs and innovators of new automotive products are invited to enter their companies and brand-new inventions into the 2022 SEMA Launch Pad competition at www.sema.org/launchpad.

SEMA Launch Pad is the premier product-pitching competition for budding entrepreneurs in the automotive aftermarket industry. Through the program, selected applicants are hand-picked to receive brand exposure, access to business resources, and the chance to win a grand-prize package valued at $92,000 to launch their product or service into the marketplace.

“The automotive aftermarket is comprised of countless entrepreneurs who are extremely passionate about creating new products and providing solutions for enthusiastic car owners who love to modify, maintain, restore, or personalize their vehicles,” said RJ de Vera, SEMA vice president of marketing. “SEMA Launch Pad helps bring these emerging inventors to the forefront, providing a platform for them to potentially take their new creations to the next level.”

Fifteen semi-finalists will be selected in June to participate in the first round of pitching and be invited to exhibit at the 2022 SEMA Show in Las Vegas in November. The top five finalists will pitch their products to a panel of industry judges during the SEMA Show, where a final winner will be selected.

SEMA Launch Pad is open to business owners or company-leading executives (president, CEO, CFO, COO or vice president) over the age of 18. Applicants must offer a product or service that is a functioning prototype, functioning concept or currently for sale.

Applications to participate in SEMA Launch Pad must be submitted online at www.sema.org/launchpad by June 13, 2022.

SANTA YNEZ, CA (05.31.22) – Ramsey Consulting, with Todd Ramsey leading the way, visited Santa Ynez Valley Union High School (one of the schools in the SEMA HSVB program) on Friday May, 27th. “We met up with Gary Semerdjian, the automotive instructor, on their Toyota 4Runner build project, talked to students and presented some of the career path options in automotive for those students interested in that direction” Ramsey stated.

Continuing, Ramsey related, “I brought with me two other professionals who are also in the automotive aftermarket business. Greg Bunch, who owns six independent automotive repair shops in the Colorado Springs, CO area (Aspen Auto Clinic), was on the visit. He and I grew up together in Camarillo, CA where we both first got into cars. Also Armando “Mondo” Roland, who owns a car audio shop (Atlas Custom Sound) located just north in Santa Maria, CA, joined us. These two businessmen spoke directly to the needs of independent businesses looking to hire motivated and qualified individuals in their growing businesses. The session turned out very nicely. Greg’s spoke to a group of over 2 dozen auto shop class members. It was perfect for Gary’s automotive class at the school.”

Ramsey concluded, “The fact that Mondo came in as a car audio retailer was sort of similar to when Ed Nuttall came in to my visit to the Mon Valley CTC class south of Pittsburgh. Mondo actually helped Gary with a couple electrical wiring and audio install-related tips as the schools 4Runner gets closer to its mid-September finish line. All in all, we had a very productive visit with Gary and his shop class at the Santa Ynez Valley High School.”

Ramsey’s firm provides services to SEMA and orchestrates visibility for the SEMA HSVB initiative.

Visit aspenautoclinic.com, ramseyconsultinggroup.com, atlascustomsound.com, and sema.org for more.