Germany's HUECO Automotive Bought by Hitachi Automotive Systems - aftermarketNews

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Germany’s HUECO Automotive Bought by Hitachi Automotive Systems

Hitachi aims to strengthen its European automotive aftermarket business with this move.

aftermarketNews Staff
By aftermarketNews Staff
Published:

TOKYO – The Japan Corporate News Network (JCNN) has reported that Hitachi Automotive Systems Europe, a subsidiary of Hitachi Automotive Systems Ltd, has acquired HUECO Automotive GmbH, based in Germany. Hitachi acquired 100 percent of the company from HUECO electronic GmbH, a portfolio company of Sued Beteiligungen GmbH.

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Hitachi aims to strengthen its European automotive aftermarket business with this move. The company intends to further expand its automotive aftermarket business in Europe by utilizing the enhanced resources, sales channels and experiences gained through the acquisition of HUECO Automotive, according to JCNN.

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PHINIA Reports Q1 2024 Results

U.S. GAAP net sales were $863 million, an increase of 3.4% compared with Q1 2023, according to PHINIA.

Emma Henderson
By Emma Henderson
Emma Henderson is the Managing Editor of aftermarketNews and Counterman. She joined Babcox after a career as a television reporter for stations across the Midwest. Contact her at [email protected]
Published:

PHINIA Inc. reported results for the first quarter ended March 31, 2024.

First Quarter Highlights:

U.S. GAAP net sales of $863 million, an increase of 3.4% compared with Q1 2023.

Excluding $17 million of contract manufacturing sales, sales were up slightly compared to Q1 2023. Favorable pricing and currency were partially offset by lower commercial vehicle sales in Europe.

Read Full Article

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