SEMA Clarifies Market Statistics

DIAMOND BAR, Calif., March 7 -- 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 Auto International 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 www.sema.org/scpmarketstudy .

Information about the 2003 International Auto Salon is available at 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 www.sema.org or www.enjoythedrive.com .