DIAMOND BAR, CA (09.28.23) – New economic data released shows the significant impact that the specialty equipment aftermarket for motor vehicles has on America’s economy–and just what it means for people across the country.

Amid the ongoing United Auto Workers strike at the Big Three car manufacturers, the report provides compelling data that the specialty automotive aftermarket is robust, despite the challenging economic environment.

SEMA commissioned the research, which was conducted by John Dunham & Associates and based on 2023 U.S. economy data. SEMA represents more than 7,000 member businesses, the vast majority being small businesses, across the United States. The industry manufactures, sells and distributes aftermarket performance and accessory parts for passenger cars, trucks and 4-wheel off-road vehicles.

The “SEMA Economic Impact Report” shows the financial output and support to the U.S. economy of the specialty-equipment market.

There are several key findings in the report:

• Nationwide, the specialty-equipment industry supports more than 1.3 million American jobs.
• More than $104 billion worth of wages and benefits earned by American workers annually are supported by the industry.
• The industry accounts for more than $40 billion in taxes, including $24 billion in federal taxes and $16 billion in state and local taxes), which support the development of critical national and local infrastructure.
• The industry contributes more than $336 billion to the American economy annually.

These businesses employ more than twice the number of people as the U.S. aircraft industry and more people than the entire motion picture and video production industry. The aftermarket industry helps small businesses to grow, create new jobs and hire more workers, and builds partnerships that expand local economies across the United States.

This economic impact study complements the industry’s annual market report on consumer trends. Consumers spent $52 billion on specialty automotive aftermarket products in 2022.

SEMA has released an interactive map that provides users with state-by-state, congressional and state-house and senate data in addition to the national numbers.

“We’re extremely proud that our industry represents such a key part of America’s economy, affecting any motorist who has upgraded their vehicle for a host of needs,” said Mike Spagnola, SEMA’s president and CEO. “SEMA’s 7,000-plus members, which are primarily small businesses and the more than one million workers in the specialty aftermarket, are extraordinary contributors to making the United States and local economies stronger across the country. It’s an industry that, one way or another, everyone has a stake in. It provides people with good-paying jobs, and our local, state and federal coffers with taxes that grow our country’s economy. SEMA’s ecosystem is a powerhouse economic engine driving positive change, innovation and opportunity to America’s big cities and small towns, working families and small businesses. The specialty-equipment aftermarket has proven to be a vibrant industry that delivers economic support to all 50 states.”

Visit sema.org for more.

Tickets are now available for SEMA Fest, the inaugural, two-day outdoor festival to be held Friday, November 3-Saturday, November 4, 12:00 p.m.-12:00 a.m. at the Las Vegas Festival Grounds in Las Vegas, that brings together automotive enthusiasts, the biggest names in music and the hottest automotive brands in a large-scale festival format. The prized SEMA Ignited event has evolved into a bigger and more exciting two-day event now known as SEMA Fest, which will give consumers a chance to participate in an automotive and music experience like none other! It’s a must-attend event that’s open to the public and features incredible automotive and motorsports activations the SEMA crowd is used to, like the following:

Nitro Circus, the provider of some of the biggest and raddest events in action sports.
Formula DRIFT, the high-skilled, high-powered sport of drifting.
Ride With Us, the not-for-profit organization that spreads the thrill of motorcycle riding to the community.

Not only that, SEMA Fest is also headlined by world-class musical acts Imagine Dragons, Incubus, Wiz Khalifa, AJR, Third Eye Blind, Bush, Walk the Moon, Ludacris, The Struts, Badflower, Chase Matthew, Meg Meyers, Ayron Jones, Rome & Duddy, renforshort, Starcrawler, Dead Sara, Bones UK, Brooke Alexx, Paper Idol, The Foxies, Good Boy Daisy and Hot Crazy.

SEMA Fest, open to all ages of the public, will unite automotive enthusiasts with the aftermarket industry “in a high-octane and immersive festival-like celebration of car culture.” The event will feature a full slate of automotive lifestyle events, including world-class drifting, motorsports competitions, freestyle motocross, off-road demonstrations, ride-and-drive activations, craft foods and a bustling consumer marketplace.

Whether you’re a diehard car enthusiast, a motorsports fan, a music lover or just like to have a good time, SEMA Fest is an event not to miss.

The inaugural SEMA Fest marks the conclusion of SEMA Week, which kicks off with the 2023 SEMA Show on October 31–November 3 at the Las Vegas Convention Center.

SEMA Fest: Ticketing and Admission
Admissions to SEMA Fest can be purchased at five distinct levels:

2-Day General Admission (all ages): $179, which allows access to all General Admission areas, including the SEMA Fest Marketplace, motorsports activations, headlining talent on two stages, and food and beverages are available for purchase.
2-Day General Admission PLUS (all ages): $229, which includes access to all the features of 2-Day General Admissions as well as access to mobile phone charging stations, upgraded restroom facilities, and limited paid lockers to secure your personal belongings.
SEMA Show Friday Festival Experience (ages 16+): $299, which includes access to all the features of 2-Day General Admission PLUS as well as access to the SEMA Show on Friday, November 3, 9:00 a.m.-4:00 p.m. The Friday Festival Experience offers the ultimate bucket-list enthusiast experience like no other event on the planet. It’s the best place to see the newest automotive performance products and discover the latest product and vehicle trends before anyone else.
SEMA Fest VIP (all ages): $349, which includes access to all the features of 2-Day General Admission PLUS admissions as well as exclusive access to a VIP viewing area with premium sightlines, VIP food and beverages for purchase and VIP washrooms.
SEMA Fest VIP and SEMA Show Friday Package (ages 16+): $469, which includes access to all the features of SEMA VIP admissions as well as access to the SEMA Show floor on Friday, November 3, 9:00 a.m.-4:00 p.m.

Keep an eye out for more details on the SEMA Fest ticket rewards program. To purchase tickets and receive the latest SEMA Fest updates, visit semafest.com.

DIAMOND BAR, CA (09.22.23) – U.S. House of Representatives has passed the Preserving Choice in Vehicle Purchases Act (H.R. 1435) from Representative John Joyce (R-PA). The bill passed with bipartisan support (222 to 190), with eight Democrats joining their Republican colleagues to advance this legislation. The SEMA-supported legislation prohibits the U.S. Environmental Protection Agency (EPA) from issuing a waiver to California for regulations that would ban the sale of new motor vehicles with internal combustion engines (ICE) in the state by 2035. 

SEMA thanks Rep. Joyce for leading the fight to ensure Americans can choose the type of motor vehicle that best meets their needs. “The last thing my constituents want is another oppressive Biden Administration mandate that puts a radical environmental agenda and far-left special interests above their individual freedoms,” said Congressman Joyce. “There is nothing more quintessentially American than the freedom of the open road, and I’m grateful to my colleagues for supporting this important legislation protecting the freedom of all Americans to drive the vehicles of their choice.” 

House Energy and Commerce (E&C) Committee Chairwoman Cathy McMorris Rodgers (R-WA) shepherded H.R. 1435 through the committee in July. As Chair of the E&C Committee, which has jurisdiction over automotive issues and the Clean Air Act, McMorris Rodgers has been a lead advocate for technology-neutral vehicle policies. “Seventeen other states have similar bans on internal combustion engines that would be triggered if EPA approves California’s request,” said Chairwoman McMorris Rodgers. “This affects 40% of the United States’ new vehicle market–and companies don’t customize cars for every state.” 

To date, 14 out of 17 CARB states have begun adopting regulations to follow the California zero-emissions vehicles (ZEV) mandate. The existing ZEV regulations are so onerous that Stellantis, a member of the Big Three, has stopped shipping gas-powered Jeeps to dealers in those states and customers wanting gas-powered vehicles must place a special order. 

U.S. Senator Markwayne Mullin (R-OK), the co-chair of the Congressional Automotive Performance and Motorsports Caucus, introduced S. 2090, a Senate companion bill to H.R. 1435 (includes the same bill text). The House and Senate versions of the Preserving Choice in Vehicle Purchases Act now await consideration in the Senate Environment and Public Works Committee. 

Click here to send your U.S. Senators a letter asking them to support the Preserving Choice in Vehicle Purchases Act by co-sponsoring S. 2090.  

For more information on these efforts, visit sema.org/advocacy/ice-bans or contact me at tiffanyc@sema.org.