In a survey conducted by the Specialty Equipment Market Association (SEMA), manufacturers involved in the production of light-truck products expressed optimism about the near-term prospects for their businesses.
An overwhelming 96 percent of respondents feel their businesses will improve in 2004, SEMA reported. SEMA did not say how many respondents participated, but it said the results are statistically significant.
When asked about the state of the U.S. economy, 84 percent noted that things are getting better. As they look at the changing light-truck market, light-truck product manufacturers see pickup trucks continuing to dominate, while sport-utility vehicles (SUVs) and crossovers account for nearly a third of market revenues.
Diamond Bar-based SEMA asked those product manufacturers the following questions:
Do you feel that your light-truck equipment and/or accessory business will improve in the near term (six to 12 months)?
Somewhat disagree 4%
Somewhat agree 43%
Do you feel the economy is improving?
Somewhat disagree 11%
Somewhat agree 52%
Which of the following light-truck classes do you think will generate the most revenues in the aftermarket in 2004?
Pickup truck 67%
Crossover vehicles 11%
Source: Specialty Equipment Market Association Research and Information Center