Toronto, Ontario — According to a new report from SEMA, equipment manufacturers have fared well over the past year in spite of supply chain disruptions, with 70 percent of manufacturers reporting sales growth over the past year.
While many retailers struggled through the onset of the COVID-19 pandemic and the shutdowns that followed, the manufacturing sector actually reported positive numbers from last year, showing that those that companies that experienced sales growth did so by an average of 19 percent.
This is in contrast to a rapidly declining inventory in most aspects of the auto industry, where a lack of materials and microchips is grinding many developers to a halt. As a result, new-vehicle production is expected to be 7.7 million units lower in 2021 than in 2020.
SEMA’s full State of the Industry Fall 2021 report can be found here.
