DIAMOND BAR, Calif. (March 13, 2003)—Though retail sales of products in the sport compact performance market are expected to increase, it won't reach as high as $4.5 billion, as reported recently by a publicly traded company, said officials from the Specialty Equipment Market Association (SEMA).
In a statement, SEMA said that last April it reported retail sales in this segment hit $1.5 billion in 2001, instead of the $4.5 billion figure. 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 percent during the year, to reach $2.25 billion for 2002. A SEMA spokeswoman did not identify the company.
SEMA will issue its 2002 segment update April 25 at the 2003 International Auto Salon in the Los Angeles Convention Center.