Potential Scam Targets SEMA Members, Exhibitors
From SEMA eNews The International Association of Exhibitions and Events (IAEE) has reason to believe that www.expo-guide.com, a company operating out of Mexico, is targeting SEMA Show exhibitors and SEMA members to purchase a three-year commitment of advertising that is disguised as an offer of a free directory listing. At this time, the IAEE has
Martin Fischer to Head Hella’s U.S. Business Units
Dr. Martin Fischer has been named president of Hella’s U.S. Corporate Center, with responsibility for the automotive supplier’s lighting, electronics and aftermarket business units in the United States. Based in Plymouth Township, Mich., outside of Detroit, Fischer also will continue to serve as president of Hella Electronics Corp., a position he assumed in early 2007. Hella Electronics has manufacturing and product development facilities in both the United States and Mexico.
LIVE FROM GAAS: Respecting Cultural Norms is Key When Doing Business in New Markets
by Amy Antenora CHICAGO — Mirroring similar comments made earlier in the day at the 2008 Global Automotive Aftermarket Symposium, Ernst & Young’s (E&Y) Mike Hanley stressed the importance of respecting cultural norms when looking to do business in another country. This was just one of the many recommendations he made during his presentation on
AutoZone Third Quarter Sales Increase 3 Percent
AutoZone has reported net sales of $1.5 billion for its third quarter (12 weeks) ended May 3, an increase of 3 percent from fiscal third quarter 2007. Domestic same store sales, or sales for stores open at least one year, decreased 0.3 percent for the quarter. Net income for the quarter increased 4.6 percent over the same period last year to $158.6 million, while diluted earnings per share increased 14.7 percent to $2.49 per share from $2.17 per share in the year-ago quarter.
Richard Keister Named WAI Executive Chairman; Former Keystone Automotive CEO Buys Ownership Stake in Business
ROYERSFORD, Pa. — WAI Global has announced the appointment of Richard Keister as executive chairman of the company. In conjunction with this appointment, Keister has purchased an undisclosed ownership position in the organization. Keister most recently served as chief executive officer of Keystone Automotive Industries, which was acquired by LKQ Corp. in October 2007. He
Cooper-Standard Automotive Announces Results for First Quarter 2008
Cooper-Standard Holdings Inc., the parent company of Cooper-Standard Automotive Inc., said its results for the first quarter of 2008 show a continuing strong performance as the company further executes its strategy to expand its footprint and diversify its customer base. Net sales for the quarter which ended March 31 increased by $180 million to $756 million compared to $576 million during the same quarter in 2007. The increase reflects sales from the Metzeler Automotive Profile Systems (MAPS) sealing businesses and the El Jarudo Mexico fuel rail operations acquired in 2007, as well as favorable foreign exchange.
Carpentier Helmet Auction Raises Nearly $2,000 for Charity Cars Campaign
SAN ANTONIO – The bidding has closed on the auction of a helmet worn by Patrick Carpentier during the April 20 NASCAR Nationwide Series race. The proceeds from the auction, almost $2,000, were donated to the Auto Value/Bumper to Bumper Charity Cars Campaign. The helmet, a one-of-a-kind scheme, was worn by Carpentier as he took
Hayes Lemmerz to Close Facility in Gainesville, Ga.
Hayes Lemmerz International said it will close its aluminum wheel facility in Gainesville, Ga., by the end of December. The closure is the result of global overcapacity in the light vehicle aluminum wheel market and increasing aluminum wheel imports into North America from low cost countries. This announcement reflects the company’s overall strategy to continue to focus its business on the right products in the right geographic regions.
Standard Motor Products Announces First Quarter 2008 Results and a Quarterly Dividend
Standard Motor Products has reported its consolidated financial results for the three months ending March 31. Consolidated net sales for the first quarter of 2008 were $208.1 million, compared to consolidated net sales of $199.8 million during the comparable quarter in 2007. Earnings from continuing operations for the first quarter of 2008 were $13.3 million or 68 cents per diluted share, compared to $2.9 million or 16 cents per diluted share in the first quarter of 2007.
Beyond BRIC: What Are the Next Emerging Markets?
Within the automotive aftermarket industry and beyond, much discussion and analysis has focused on the emerging “BRIC” growth markets of Brazil, Russia, India and China. But if you are looking to stay two steps ahead, you should set your sights on Vietnam as the next big thing.