Auto Supplier Profits Dwindle
Although new car and truck sales rose more than 2 percent during the first 10 months of 2004, many of the companies that supply parts to big automakers have little to celebrate. Their profits are shrinking as raw-material costs rise and production falls at General Motors Corp. and Ford Motor Co. Already the nation’s two largest suppliers, Delphi Corp. and Visteon Corp., which had combined sales of $45.7 billion in 2003, have warned of lower-than-anticipated earnings this year. They cite higher materials expenses, particularly for steel, and plans by top U.S. automakers GM and Ford to turn out fewer vehicles.
Executive Interview with Greg Gyllstrom, Vice President and General Manager for Visteon’s North American and Asian Aftermarket Operations
Our latest edition of “Executive Interview” features Greg Gyllstrom, Vice President and General Manager for Visteon’s North American and Asian aftermarket operations. In this role, Gyllstrom is responsible for expanding the organization’s North American and Asian aftermarket business by coordinating and directing the company’s sales, product development and marketing activities. Gyllstrom recently talked with aftermarketNews.com about his first two years at Visteon, the company’s motor sports initiatives and its presence in Asia.
AIA Honors Industry Award Winners
The Auto International Association (AIA) presented its 2004 Industry Awards in Las Vegas last Tuesday during AAPEX. Mike Brown, president of Olympus Imported Auto Parts Corp., and vice-chairman of AIA, announced the winners and made the award presentations. Now in its 16th year, the awards program recognizes manufacturers and marketers for excellence in developing high-quality products and innovative marketing programs for import cars or trucks – ranging from products that enhance performance, appearance or convenience, to the cataloging, merchandising and advertising that create awareness and fuel demand.
Mike Droullard to be Next APRA Chairman
Mike Droullard, vice president, sales – special markets for Brake Parts Inc., has been appointed to serve as the next chairman for the Automotive Parts Remanufacturers Association (APRA). He will be inducted as chairman during the 2004 International Big R Show, which takes place Oct. 29 – Nov. 1 in Las Vegas.
Executive Interview with Ken Schafer, Vice President, and Henry Hippert, Sales Director, for Eastern Manufacturing
Every other week, aftermarketNews.com offers an interview with high-profile individuals in the automotive aftermarket. We give executives free rein to express their views on anything from the state of their corporations to recent legislative news to future trends in their niche markets. Here you see what matters to the newsmakers themselves. Our latest edition of “Executive Interview” features Ken Schafer, vice president, and Henry Hippert, executive sales director, for Eastern Manufacturing.
Equus Products Introduces Its New INNOVA 3110 CanOBD2 Code Reader
Equus Products, a leading manufacturer and distributor of test equipment, gauges and tachometers for the automotive aftermarket, has announced the launch of its new INNOVA 3110 CanOBD2 Code Reader. The new INNOVA 3110 CanOBD2 Code Reader is the next generation in code readers from Equus. The INNOVA 3110 CanOBD2 Code Reader is designed to appeal to a broad audience, including professional automotive technicians, do-it-yourselfers and consumers.
American Collectors Insurance Renews Sponsorship with Auto World Radio
For the third consecutive year American Collectors Insurance has renewed its sponsorship of the Auto World Radio show, hosted by Bob Long. American Collectors Insurance is a national provider of insurance for collector cars, trucks and motorcycles. Auto World is broadcast nationwide via the National Radio Network and the Cable Radio Network. The show reminisces about the cars of the past, reviews the cars of the present and looks ahead to the cars of the future.
Stolen Bumpers Found at Venture
Law-enforcement officials last week broke up a long-running, stolen-auto-parts ring at a Michigan plant owned by bankrupt auto supplier Venture Corp.
Executive Interview with Randy Mordue, Director, Aftermarket Division, Akebono Corp.
Our latest edition of “Executive Interview” features Randy Mordue, director, Aftermarket Division, Akebono Corp. Mordue joined Akebono North America in 1999. He has more than 20 years of sales, national account and new business development experience within the automotive aftermarket industry. Mordue recently took the time to talk with aftermarketNews.com and bring us up to speed on the latest developments at Akebono.
Cosworth Technology Forms New Aftermarket Group
Cosworth Technology, Inc. (CTI), an independent consultant and supplier of powertrain and diagnostic engineering services to the global automotive industry, has announced the formation of a new aftermarket product group. The new aftermarket division, called “powerworks” will develop performance enhancement products and systems, supercharger systems in particular, for vehicle power trains ranging from 4 cylinder 2-liter engines up to large 8 cylinders engines (5+ liters).