DIAMOND BAR, Calif., March 7 /PRNewswire/ -- Retail level sales of
products in the sport compact performance market niche of the automotive
specialty equipment market were $1.5 billion for calendar year 2001, not
$4.5 billion as stated in a news release sent nationwide by another
organization earlier this week.
SEMA, the Specialty Equipment Market Association, reported the
$1.5 billion figure, which represented 25% growth over the 2000 sales figure,
at its 2002 International Auto Salon in April 2002. At that time, SEMA said
that manufacturers were reporting unprecedented high sales for the first
months of 2002, and forecast that the niche's sales might increase as much as
50% during the year, to reach $2.25 billion for 2002.
SEMA will issue its 2002 full-year compact performance market update at a
media conference set for the 2003 International Auto Salon in the Los Angeles
Convention Center on Friday, April 25, preceding the opening of the three-day
show for the industry and consumer enthusiasts.
"We anticipate reporting record sales of accessories and upgrades for this
market, the most rapidly growing segment of our industry," said Rosemarie
Kitchin, SEMA director, consumer/public relations. "The total specialty
equipment market for 2001 was $26 billion, more than Americans spent on
renting and buying DVDs, videos, and video games."
Kitchin said that the compact performance market is enjoying astounding
growth because of the nationwide movement of young consumers to improve their
vehicles in appearance, in performance, and in handling.
SEMA's 2002 compact performance market report is available at
http://www.sema.org/scpmarketstudy .
Information about the 2003 International Auto Salon is available at
http://www.ias2k3.com .
SEMA represents the $26 billion specialty automotive industry. Founded in
1963, the trade association has more than 4,500 member companies. It is the
authoritative 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 http://www.sema.org or
http://www.enjoythedrive.com .
SOURCE SEMA (Specialty Equipment Market Association)
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Related links:
http://www.enjoythedrive.com
http://www.ias2k3.com http://www.sema.org/scpmarketstudy
http://www.sema.org
CONTACT:
Media, Rosemarie Kitchin, ext. 104,
rosemariek@sema.org , or Lisa Guth, ext. 181, lisag@sema.org ,
both of SEMA, +1-909-396-0289
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