The AMN Week in Review (Feb. 20-24, 2012)

The AMN Week in Review offers a snapshot of the most highly read stories of the week as seen on aftermarketNews. To access the complete stories, simply click on the highlighted links. If you missed reading one of our daily news emails, just click on the link that says "News Archives" at the bottom of the page to begin catching up on the latest industry news.

The AMN Week in Review begins with the news that online retail giant eBay will acquire WHI, one of the industry’s fastest-growing catalog and e-business solution providers. Terms of the deal were not disclosed, however, eBay stated in a blog post announcing the deal that WHI’s "talent, technology and client base" will be "smoothly integrated into the eBay Motors ecosystem." The company added that WHI will maintain its offices in New York, New Jersey and Los Angeles at this time.

In other top news on AMN this week, Genuine Parts Co. (GPC) reported fourth quarter and full year earnings. GPC’s sales increased 7 percent to $3 billion in the fourth quarter ended Dec. 31, 2011, compared to sales of $2.8 billion for the same period in 2010. Sales for the full year were $12.5 billion, up 11 percent compared to 2010. Net income for the year was $565 million, an increase of 19 percent compared to $476 million in 2010.

Our exclusive Executive Interview with Dave Ellingen, president of Mitchell 1 and Snap-on Diagnostics, was also among the most-viewed items posted on AMN. In the interview, Ellingen talks about a number of interesting topics, including new products, technicians becoming more tech-savvy and the use of social media in the repair shop.

Also among the most-clicked items on AMN this week, we learn that a well-known retail marquee is getting its 15 minutes of fame. In honor of its 90th anniversary, Pep Boys was featured on an episode of HISTORY’s hit series, American Restoration. The episode, titled “Tall Order,” shows host Rick Dale restoring a special 80-year-old fiberglass and plaster marquee statue of founders Manny, Moe & Jack that once stood atop a Pep Boys store dating as far back as the 1930s. Following the episode, the Manny, Moe & Jack statues will finish their 90th anniversary trip across country to Los Angeles, Calif., where they are to reside as a donation from Pep Boys to the permanent collection of the Petersen Automotive Museum.

Last in our recap of the week’s top news, Polk announces that the number of years consumers are holding on to their vehicles is at an all-time high. Based on an analysis of U.S. vehicle registrations, Polk reports that the average length of ownership of vehicles that were purchased new has risen to a record 71.4 months, or nearly six years.

Despite a tough commercial tire market in 2023 due to overstock and the effects of a rubber-banding supply chain, some tire manufacturers are expressing a cautious optimism for stabilization and gradual recovery through the rest of 2024 and into 2025.

"The economy is not showing signs that it’s going to slow down, but I don’t think the situation’s going to improve dramatically by the end of this year. It’s more likely next year," said Pierluigi Cumo, Vice President of B2B products, at Michelin North America. "We can see the light because the beginning of 2023 was very bad. I think now we’ve found the bottom, and I don’t think we’re going to get much further from the bottom in 2024."