SEMA is seeking entrepreneurs and inventors who have the next big automotive-related product or accessory. Through the SEMA Launch Pad, entrepreneurs with a functioning automotive-related product that will be hitting, or has recently hit, the market are invited to submit their 2021 SEMA Launch Pad applications for a chance to win a prize package valued at up to $92,000.

Since 2013, the program has helped entrepreneurs launch their products into the marketplace, providing them with cash prizes, next-level marketing opportunities, access to business tools and resources, and more.

Originally created to support emerging entrepreneurs under the age of 40, this year’s program does not have an age cap and is open to qualified individuals 18 and over. The prizes have also increased to include a grand prize package valued up to $92,000, cash awarded to the top three finalists, and featured video interviews promoting dozens of applicants on SEMA’s social media networks. Fifteen semi-finalists will also be selected to attend the 2021 SEMA Show in November, where the top five will pitch their products to a panel of industry judges at the SEMA Show and be recognized at the industry’s premier celebration—the SEMA Show Industry Awards Banquet.

“Before going through the Launch Pad program, I wasn't even a blip on the industry's radar,” said Jonathan Mill, who won the first-ever SEMA Launch Pad competition for this product the E-Stopp Emergency Brake.“After winning it, my product, career, and network skyrocketed. All because I chose to get involved with SEMA.”

Past products included have been selected from segments such as vehicle technology, restyling, truck and off-road and more, although the program is open to any product that has the potential to positively impact the future of the aftermarket industry.

To qualify, applicants must be a business owner, company-leading executive (president, CEO, CFO, COO) or vice president of a company, and must offer a product or service that is a functioning prototype, functioning concept or currently for sale. Deadline to apply is May 30, 2021. Apply for SEMA Launch Pad here.

The NHRA Technical Department has announced the addition of Lonnie Grim as the new national tech director. He began his role on April 12 and will help continue towards the department’s goal of innovation and safety.
 
Grim comes to the NHRA with more than 15 years of experience within the sport of drag racing. He most recently served as the competition/series tech director at the Professional Drag Racing Association. Grim joins the technical department led by NHRA Vice President of Competition Ned Walliser.

“We are thrilled to welcome Lonnie to the NHRA tech department,” said Walliser. “With Lonnie’s experience, we know he’ll help continue to improve and develop the department.”
 
“I am excited to join the NHRA team and look forward to the challenges that lay ahead,” said Grim. “I intend to progress a positive relationship between the racers and the NHRA with sincere appreciation for their effort and support while providing firm consistency regarding the rulebook and its enforcement. I am very optimistic about the future of drag racing and the programs that NHRA continues to develop. As well as the nostalgic past, the future holds great excitement for our competitors to build with a smile.”
 
Grim attended the University of Central Arkansas and the University of Arkansas at Little Rock. 

For more information, visit nhra.com.

Photo of EPWI’s Anaheim facility taken during the PRI Road Tour

National Performance Warehouse (NPW), the parent company of engine and performance distributor Engine & Performance Warehouse Inc. (EPWI), has announced the consolidation of the EPWI’s Anaheim, California, facility into the NPW distribution center in Gardena, California. NPW had previously acquired EPWI in December 2020.

“With our acquisition of EPWI, we have facilities within miles of each other in various cities. Where it makes sense, we will consolidate to one [distribution center],” said Chris Pacey, NPW’s executive vice president and chief operating officer. “All the same EPWI inventory will be moved, and the customers get the added benefit of the additional lines available at the NPW location. Basically, nothing will change for the customers and suppliers. This is a win-win for all.” 

EPWI’s inventory, ordering, and shipping will now take place out of Gardena. All operations will remain the same, and the entire EPWI staff is being retained.

The NPW Gardena facility, located at 14605 South Main Street, Gardena, California, offers a broader selection of brands along with increased stock levels of its common lines. 

For more information, visit npwcompanies.com and empius.com. 

Four dedicated individuals who contributed to and have had an impactful influence on the automotive specialty equipment industry are being honored as new SEMA Hall of Fame members. They will join an elite group of icons who comprise the SEMA Hall of Fame, as they are officially inducted at the SEMA Installation & Gala on July 30 in Las Vegas, Nevada.

The four newest SEMA Hall of Fame members are the late Jessi Combs, Rick Love, Bob Moore, and Carl Schiefer.

Jessi Combs: Jessi Combs built an accomplished career in the automotive industry as the host of several television programs, founder of a variety of businesses, and an accomplished fabricator and race car driver. With an infectious passion and youthful enthusiasm for the industry, Combs served as a host for many SEMA events, including the SEMA Installation & Gala and the SEMA Awards Banquet at the SEMA Show. As a volunteer in the historic 2012 SEMA Businesswomen’s Network (SBN) All-Female Ford Mustang Build, Combs served as a role model for women in the industry and continued to inspire women through the launch of The Real Deal, a collaboration with fellow SBN member Theresa Contreras designed to inspire confidence, break stereotypes, and motivate other women to pursue their passions. In 2019, Combs set a land speed record for women, 522.783 mph, on a dry lake bed in Oregon—a feat that resulted in an accident that led to her untimely death at the age of 39.

Rick Love: While freelancing as a writer and photographer for Rodder’s Digest magazine in 1982, Rick Love created a home workshop and leaned on his electronics degree to do wiring and air conditioning installations for other hot rodders. It was this A/C work that caught the attention of SEMA Hall of Famer and founder of Vintage Air Jack Chisenhall. Chisenhall asked Love to assist the company at rodding events, and continued to promote him over the years to his current position of president, in charge of overseeing the day-to-day operations of the entire company. Despite his busy schedule at Vintage Air, Love never wavers to volunteer his time, expertise, and energy to helping the industry. As a true car guy, he advocates for the industry. Having served multiple terms as chairman of the SEMA Hot Rod Industry Alliance (HRIA), Love is an ambassador for SEMA and constantly recruits and encourages businesses to get involved.

Bob Moore: Bob Moore appropriately authored a monthly column in Aftermarket Business magazine titled “Ahead of the Curve.” As electronic catalogs evolved and the Internet began to dominate the way consumers researched and purchased products in the early 2000s, Moore was a pioneer in establishing standards for product data in the automotive aftermarket. As a SEMA Board Member and the co-founder and chairman of the SEMA Business Technology Committee (which has evolved to what is now the SEMA Data Co-op), Moore was instrumental in creating standardized data for the specialty equipment industry. He spent years scrutinizing the specialty equipment industry’s needs to determine the attributes that consumers look for that will help businesses sell more products, resulting in the first-ever one-stop product information data pool. Moore was awarded the 2010 SEMA Chairman’s Service Award from then-Chairman of the Board Rick Rollins, who noted, “We are fortunate to have someone with his leadership and determination driving some of our industry’s most critical initiatives.”

Carl Schiefer: As the son of the first SEMA Hall of Fame recipient Paul Schiefer, Carl Schiefer built a legacy of his own by founding what has evolved into a thriving marketing agency dedicated to automotive brands. Schiefer Media was created in 1985 as an enthusiast media agency with an original focus on the automotive aftermarket and related enthusiast categories. With an impressive list of clients, including Edelbrock, Mother’s, Bilstein, and Royal Purple, Schiefer Media was instrumental in bringing motorsports brands to the mainstream public. He initiated advertising for automotive brands on television—a practice that may seem standard today but was unusual at the time and significantly expanded market reach to a nationwide audience. Perhaps what sets Carl apart from other marketers is his passion for the industry; Carl raced Top Gas and Top Fuel dragsters amongst the greats, including Don Garlits, Tommy Ivo, and the Smothers Brothers. Although retired from Schiefer Media, the agency continues to operate as SCS, with Carl’s son James as CEO.

In addition to formally introducing Combs, Love, Moore, and Schiefer as SEMA Hall of Fame members during the 2021 SEMA Installation & Gala, the annual event on July 30 will include recognitions of the newly elected and the outgoing SEMA Board members. All SEMA members and industry professionals are invited to join the celebration and can purchase tickets at sema.org/gala.

Are you leaving potential sales on the table, so to speak?

Evidence suggests that automotive merchants may be missing out on sales because they are not optimizing their in-store financing program. By contrast, merchants who promote in-store credit may see average ticket sales improve due to the flexibility promotional financing can provide.

Synchrony’s most recent consumer study revealed that 85% of Synchrony Cardholders feel promotional financing makes their large purchases more affordable¹. Those customers also are likely to be more satisfied with their purchase because they got the automotive products or services they really wanted.

MAKE IT KNOWN

Making customers aware of your financing program starts with advertising and marketing. Make sure financing information is featured on your website, in your advertising and at the point of sale. Then train your team to mention financing early and often in the conversation. Customers often rely on the salesperson for this valuable information.  

According to Synchrony’s consumer study, roughly 46% of Synchrony cardholders found out about in-store financing from the automotive sales associate. Many customers will walk away without making a purchase if they don’t know about your credit options or they are somehow confused by the offer.

TRAIN YOUR TEAM

It’s essential that your sales team be knowledgeable and informed about all current financing offers. Credit providers such as Synchrony offer online instructional programs to help merchants train their staff to use financing more effectively. Ongoing training will help your team become more comfortable with financing vocabulary so they can explain credit offers clearly and accurately to customers.  

If you have never provided credit training, perhaps it is best to start with some words and phrases that often come up when discussing credit. While some people may be very knowledgeable of financing terminology, others may be confused by these phrases and are embarrassed to ask. It’s best to make sure everyone has a comfort level with the topic. Here are some of the most common financing phrases you are likely to hear:

• Annual Percentage Rate (APR) – the interest rate charged annually for borrowing money. It is expressed as a percentage that represents the actual yearly cost of funds over the term of the loan.
• Credit Rating or Credit Score – A number assigned by a credit bureau that indicates your ability to repay a loan. The scoring model weighs several factors, including payment history and current debt.
• Deferred Interest – interest that accrues on a purchase during the promotional period. The interest is assessed if the purchase is not paid in full within the agreed-to promotional period. Minimum monthly payments are required.
• Equal Payment, No Interest – no interest is assessed on a purchase, and equal monthly payments are required until paid in full. The payments are a fixed percentage of the initial purchase amount.
• ‘No Credit’ Loans – a loan in which the lender does not conduct a credit history check, usually because the borrower may not qualify for an unsecured loan. These loans typically have higher interest rates than revolving loans.
• Revolving Credit – a line or amount of credit that is automatically renewed as debts are paid off. A credit card is a revolving line of credit.
• Terms and Conditions – the agreement (contract) between the borrower and lender includes a description of the payment obligations and duration of the loan period.
• Unsecured Credit – not secured by collateral. Car loans and home loans are secured credit. Most credit cards are unsecured credit.

CHANGE THE CONVERSATION

It can be difficult for consumers to focus on their complete automotive needs when they hear the price tag for some automotive services and products. It helps significantly if your sales team can change the conversation to help them prioritize the critical automotive services they need at this time, while also understanding the “big picture” of service needs that may be required in the future.

Overall, financing helps give the customer more options. It helps them make their decision on several factors, including short- and long-term needs. But unless you inform them about financing, they won’t have those options and you may lose the sale.

Synchrony (NYSE: SYF) is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products. With more than $139 billion in sales financed and 68.5 million active accounts, Synchrony brings deep industry expertise, actionable data insights, innovative solutions and differentiated digital experiences to improve the success of every business we serve and the quality of each life we touch. For more information, visit mysynchrony.com.

¹Synchrony’s Major Purchase Consumer Study, 2019

Photo courtesy of SCCA
 

The SCCA has formed the Electrified Vehicle Advisory Committee (EVAC) to create unified procedures across SCCA programs for Electrified Vehicles (EV).

The nine-person committee is being led by SCCA Area 4 Director Dayle Frame—EV owner and Solo competitor—and made up of representatives from Road Racing, Track/Time Trials, Rally/Solo, and industry experts. The first tasks the EVAC has been charged with are to create basic safety rules for EVs at SCCA events and to help guide regions and facilities when it comes to training and being equipped for EVs.

“In my duties as an SCCA Director I saw a need for the SCCA to have a long-term plan for incorporating EVs and their powertrains into all levels of participation,” said Frame, who researched how each individual SCCA program was approaching EV participation and formed the committee based on those procedures and needs. “Because EVs were not something that many in the SCCA have experience with, we knew that we needed to form a committee with a broad range of experience, and we’re looking forward to what we can accomplish and enabling more EV’s on the grid.”

While the focus is currently on the foundational elements of EV participation, future goals of the EVAC include procedures for technical inspections of non-production EVs and the potential for rulesets for EV-specific competition classing.

The EVAC welcomes feedback and encourages those interested in sharing their thoughts to send a letter to the Club Racing Board under the Electric Vehicle Category at crbscca.com. For more information, visit scca.com.

Robert and Donna Bass have announced that Daryn and Mandy Pittman have purchased Ultra Shield Race Products, the manufacturer of race seats, harnesses, arm restraints, window nets, and more racing safety products in Flint, Texas.

“We are both excited to build on the legacy that Robert and Donna have made in the industry.   We will continue to manufacture high-quality racing products for our customers with dreams of building the brand for many years to come.  We are... honored that Robert and Donna are confident in us to continue growing Ultra Shield within the motorsports industry,” said Daryn Pittman, a former full-time World of Outlaws NOS Energy Drink Sprint Car Series driver.

Robert and Donna Bass had founded Ultra Shield Race Products in 1987 by manufacturing tear-offs before the business progressed to include seats, belts, nets, and more safety equipment.  

“We would like to thank the racers, customers, and dealers for their support, suggestions, and loyalty,” Robert Bass said. “We are looking forward to working with Daryn and Mandy and helping them transition to business owners.”

For more information, visit ultrashieldrace.com. 

The STEAM Sports Foundation has launched a new scholarship for minority women seeking careers in the automotive industry with an emphasis on engineering, alternative energy, or autonomous vehicle development. The $5,000 scholarship, applicable for the 2021–2022 academic year, is designed to spur greater involvement by women in the auto and motorsports industries. 

Eligible students include high school seniors, university, and technical college students who have at least one year remaining before graduation. 

“Women have shown increasing interest in automotive careers and motorsports,” said Bob Dickinson, STEAM Sports Foundation executive director. “We want to encourage their participation in this dynamic field which is undergoing a renaissance due to the environmental imperative propelling the adoption of clean energy and battery technology.

“The commitment by global automakers to convert to all-electric fleets has spawned significant capital investment in new engineering technology,” Dickinson said. “The opportunities within the automotive and motorsports industry are increasing as the manufacturers compete for competent talent to meet their research and management needs.”

The application deadline is June 15. Interested students can apply here. For more information, visit dickinsonpg.com/scholarship-instructions. 

Photo courtesy of NASCAR
 

The Next Gen models for NASCAR Cup Series competition in 2022 have been unveiled at The Park Expo in Charlotte, North Carolina. 

The Next Gen Chevrolet Camaro ZL1, the Ford Mustang, and the Toyota TRD Camry were debuted to the public as part of what NASCAR calls a “new era of the rebirth of stock.” 

“I think that at the highest level, one of the main goals is just that the sport remains healthy and strong, that it remains attractive to our current OEMs, teams, and fans, but also attracts new ones,” NASCAR Senior Vice President of Racing Innovation John Probst said to NASCAR.com. “As we kind of dive into that, it’s sort of your overarching goal. Then we know to be attractive to our OEMs, we need to be relevant to them.”

All three OEMs worked with competition officials to design the new models with bigger wheels, a muscle car coupe-style appearance, and the potential for the transition to hybrid power in the future. The Next Gen vehicles are also highlighted by a symmetrical body, which removes the skew and tail offset from the centerline that is used to create a right-side side force. This will help decrease aerodynamic dependence and “increase the emphasis on car setup in the hands of teams and drivers,” NASCAR said. 

Officials anticipate two different rules packages for 2022—a low-downforce, low-drag, high-horsepower one for short tracks and road courses, along with a high-downforce, lower horsepower package for intermediate-sized tracks (1.5 miles) and longer. Target horsepower figures for the rules packages are still being determined.

The unveiling comes after NASCAR had previously pushed the planned 2021 debut of the Next Gen car to 2022. 

The NASCAR Next Gen cars will make their competition debut on February 20, 2022, at Daytona International Speedway for the 64th annual Daytona 500.

For more information and specifications, visit here or nascar.com.

Holley, the platform for performance automotive enthusiasts, has announced that Dominic Bardos has been appointed CFO. A financial executive with extensive public company experience, Bardos will serve as a member of the executive leadership team and report directly to President and Chief Executive Officer (CEO) Tom Tomlinson.

“I am pleased to welcome Dominic Bardos as our CFO,” Tomlinson said. “Dominic brings over 30 years of global finance and accounting experience across multiple industries, including retail, consumer services, entertainment, and hospitality. He has a proven track record of delivering results and creating value. Dominic’s public company experience along with his expertise in providing insightful and actionable business analysis and his focus on leading and developing high-performing teams will play a vital role in supporting our success as a public company.”

Bardos recently served as vice president of Finance for Tractor Supply Co., the publicly traded rural lifestyle retailer. Previously, he served as CFO for Cambridge Franchise Holdings. Additionally, he held several leadership positions at ServiceMaster, including three years as the divisional CFO for Terminix, its largest division. His experience also includes leadership positions in financial planning and analysis, strategic sourcing, supply chain, and customer service operations in large organizations such as Caesars Entertainment, Hilton Hotels, and Harrah’s Entertainment.

Dominic earned a Master of Business Administration in Finance and a Bachelor’s degree in Management from the University of Memphis, Fogelman College of Business & Economics.

Holley had previously announced in March an agreement to become a public company through a business combination with Empower Ltd., a publicly-traded, special purpose acquisition company.  

For more information, visit holley.com.