SEMA’s emphasis on SUVs sign of improving economy

By Adam Candee

Tuesday, Nov. 1, 2016 | 2 a.m.

Christmas comes about two months early for car enthusiasts when the Specialty Equipment Market Association (SEMA) arrives today at the Las Vegas Convention Center.

The nation’s most significant trade show for aftermarket automotive products, SEMA is closed to the public but still attracts a massive crowd to Las Vegas each year.

In addition to the latest and greatest in accessories and customization options for cars, the industry’s biggest car makers will unveil concepts aimed at wowing the crowd and pushing the envelope. Kia, Toyota, Hyundai, Chevrolet, Acura and Ford all plan events on the show’s first day to discuss what they will introduce at SEMA.

Show organizers noted a resurgence of sport utility vehicles (SUVs) and trucks among the featured entries at this year’s convention. A total of 476 feature vehicles were entered for the show. Of them, more than a quarter were trucks or SUVs, a sign that the overall economy continues to improve. Historically, as fuel prices fall in better times, buyers scoop up more SUVs.

As the recession hit in 2009, buyers in the United States purchased 10.4 million light trucks and SUVs, a drop of almost 7 million from nine years earlier. That number jumped back up to an estimated 17.5 million in 2015 as the national economy moved forward.

The 2016 SEMA Show celebrates the event’s 50th anniversary and features more than 2,400 manufacturing companies, and it plans to welcome more than 140,000 people, including 70,000 buyers. More than 140 countries will be represented as well.

Officials with the Las Vegas Convention and Visitors Authority estimate that SEMA generates an average annual nongaming economic impact of $207 million. The show arrived in Las Vegas in 1977 and is in the third year of a four-year contract with the LVCVA, which estimates that SEMA is the largest annual gathering of small businesses in the United States.

Although the event is closed to the public, the SEMA Ignited after-show party on Friday offers everyone a chance to check out some of the vehicles unveiled during the four-day show. SEMA Ignited will feature hundreds of cars and trucks built for display. They will roll out in the SEMA Cruise after 4 p.m. and assemble at the Gold Lot across from the convention center.

Cost to attend the show is $20, although students and military with ID can get in for free, as can SEMA badge holders.

According to SEMA, the automotive aftermarket business is a $39.2 billion industry.