SEMA, the Specialty Equipment Market Association, is turning thumbs down to the idea of a flagging economy or weak economic conditions. “Of course, business is tough for everyone,” said SEMA President and CEO Christopher J. Kersting. “From the carmakers to the aftermarket companies, the pressure continues on all our 5,000 member companies. But, we can’t ignore statistics that suggest positive economic momentum exists in the sectors we serve.”
Just days before the start of the annual SEMA Show, Kersting said many show records have already been broken. “Coming to Las Vegas, obtaining display space, marketing and selling your product line -- be it a performance chip for an engine, a new line of wheels or tires, or the latest in audio technologies -- requires an investment of both time and money,” Kersting said. “Our exhibitors, large and small, are here to do business, and that means they have the wherewithal and conviction to compete for the business.”
The Las Vegas event, part of Automotive Aftermarket Industry Week, is expected to host more than 100,000 attendees. The 473 first-time exhibitors showing their products and services at SEMA Show 2003 are nearly double the first-time exhibitor count from two years ago. In all, 1,800 exhibitors will participate in the SEMA Show.
The automotive specialty industry as a business sector has outpaced the U.S. GDP since 1992, according to SEMA. The specialty equipment market now accounts for $27 billion in annual domestic retail sales and represents the entire spectrum of accessories and specialty automotive equipment.
“If ever there was a time to strike a vote for American small business, this is it,” Kersting said. “While 12 carmakers will exhibit their latest concept vehicles and project vehicles incorporating the latest accessories at our SEMA Show 2003, it’s the nimble small and medium-sized companies that have responded to consumer demand for products to customize their vehicles to suit their taste and needs.”
SEMA Show 2003 opens Tuesday, Nov. 4, and continues through the afternoon of Friday, Nov. 7, at the Las Vegas Convention Center. The show’s footprint of two million square feet will be filled with 900,000 net square feet of exhibits and approximately 1,500 unique accessorized and custom vehicles.
For more information visit www.SEMAshow.com.
About SEMA
SEMA represents the $27 billion specialty automotive industry.
Founded in 1963, the trade association has 5,222 member companies. It is a source of research data, trends and market growth information for automakers and the specialty auto products industry.
The industry provides appearance, performance, comfort, convenience and technology products for passenger cars, minivans, trucks, SUVs and recreational vehicles.
For more information, contact SEMA at 1575 S. Valley Vista Dr., Diamond Bar, CA, 91765-3914; call (909) 396-0289; or visit www.sema.org or www.enjoythedrive.com.
