Save the World Air, Inc., based in Morgan Hill, has completed
its ‘go to market’ strategy and sales plan for the company’s
MagChargR product.
Save the World Air, Inc., based in Morgan Hill, has completed its ‘go to market’ strategy and sales plan for the company’s MagChargR product.
“President Obama has made it clear that his administration will reverse the emissions policies of the previous administration,” said Cecil Bond Kyte, Chairman and CEO of Save the World Air, Inc. “The MagChargR product directly addresses the passenger vehicle emissions control market, which has been targeted by states like California who have enacted strong standards to reduce vehicle emissions by a huge margin by 2020. We believe the MagChargR product is one potential solution for consumers and OEM manufacturers.”
The MagChargR is relevant to several niches in the Specialty Equipment Market. According to a May 2008 report by SEMA, titled, ‘SEMA ’07 Insight: Market Study,’ these niches represented the following in retail sales: Light Truck, $13 billion; Compact Performance, $6.7 billion; Street Performance, $2.2 billion; Racing, $1 billion; and the Hot Rod and Custom niche, $1 billion. The relevant portions of the Specialty Equipment Market totaled $23.9 billion in 2007. Management believes approximately 4% of the $23.9 billion of specialty automotive products is spent specifically on engine performance enhancements making the total potential addressable market approximately $1.4 billion for the MagChargR product.
Kyte added, “Consumers purchased these products despite a lag in the general U.S. economy.” That figure represents an increase from 2006 to 2007, and is the 17th consecutive year of growth. Over the last ten years, the industry has grown at a Combined Average Growth Rate (CAGR) of 7.0%.
