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Friday, 19 November 2021 21:21

Specialty-Equipment Industry Remains Strong Amid Supply-Chain Disruptions

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Despite ongoing disruptions in the economy, 70% of specialty-equipment manufacturers report sales growth over the past year, according to the new "State of the Industry—Fall 2021" report from SEMA.

The report highlights specialty-equipment market trends, including sales performance and expectations, broader economic factors that are affecting the industry, and a future outlook on the role that emerging vehicle technologies may play.

 

Supply-chain disruptions are affecting the automotive sector, and new-vehicle production is expected to be 7.7 million units lower in 2021 than 2020---tempering the specialty-equipment industry’s optimism regarding its short-term prospects. However, most businesses are maintaining a positive outlook, with more than 80% expecting their sales to be stable or growing over the coming year.

 

The latest edition of SEMA’s ongoing State of the Industry report series offers 70 pages of data on the specialty-equipment industry to help companies understand how the market is performing and evolving. Key findings from the report include:

 

Delays in shipping and the ongoing microchip shortage have left automakers unable to keep up with consumer demand for new vehicles, pushing dealer inventories to all-time lows and the average price of a new vehicle to an unprecedented $45,000 in September 2021.

 

While some businesses struggled during the beginning of the pandemic last year, especially retailers, most were able to adjust. Manufacturers in particular have done well, reporting an average of 19% sales growth over the past 12 months.

 

Sales in the pickup, sports car, SUV and...


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