Uni-Select Inc. Reports First Quarter Net Earnings Increase of 4.7 Percent
Uni-Select recorded an increase in net earnings of 4.7 percent for the first quarter of 2006, representing $5,646,000 or 29 cents per share compared to $5,394,000 or 28 cents per share last year. Sales were reported at $262,514,000 in the first quarter of 2006, a 1.1 percent decrease compared to sales in 2005. The company said the decrease in sales is primarily due to the fluctuation in exchange rates between Canadian and American currencies.
R. L. Polk & Co’s Ask the Industry: Industry Execs Comment on the Top Ten Issues of Year
Today, aftermarketNews kicks off its second annual “Top Ten” series, produced in collaboration with our sister publication, Counterman magazine. For our first installation in a weeklong series, we recap the top ten issues addressed this year by executives in our bi-weekly feature “Ask the Industry.” Below are ten of the most intriguing insights that leading aftermarket executives shared with us this year.
Aftermarket Coalition Takes Issue with Georgia Congressman’s Comment
The Coalition for Auto Repair Equality (CARE), in a press release, stated that Rep. Lynn Westmoreland (R-GA) wants to deny consumers the right to repair their own vehicles. The non-profit organization said the Georgia Congressman has “chosen to side with the automakers” against the Motor Vehicle Owners’ Right to Repair Act (H.R. 2048) legislation.
CARE Announces RetireSafe Support of Vehicle Right to Repair Act
Senior citizens group RetireSafe has joined in support of The Motor Vehicle Owners’ Right to Repair Act of 2005, according to David Parde, president of the Coalition for Auto Repair Equality (CARE).
CCAR Announces 2005-06 Board of Directors
The Coordinating Committee For Automotive Repair (CCAR) has announced the members of its board of directors and executive committee for 2005-06.
R.L. Polk & Co.’s Ask The Industry Looks to Find the Meaning of the Lifetime Warranty
Lifetime warranties often warranty a product that can’t possibly provide a lifetime of service. Do lifetime warranties serve a bona-fide marketing purpose or do they do more harm than good in the eyes of the consumer by making them believe a product will last longer than it was designed to?
ArvinMeritor Reports Fiscal Year 2005 Third-Quarter Results
ArvinMeritor, Inc. reported financial results for its third fiscal quarter ended June 30, 2005. The company posted sales of $2.4 billion, up 15 percent from the same period last year. The Commercial Vehicle Systems (CVS) division posted sales of $1.1 billion, up $256 million, or 30 percent, from last year’s third quarter, with an operating margin of 6.4 percent, up from 5.7 percent in the third quarter of the prior year.
Hella Restructures North American Operations
Hella, a supplier of automotive electronics and lighting systems, has restructured its North America operations with the formation of three distinct business units for its lighting, electronics and aftermarket businesses.
Keystone Automotive Industries Appoints Board Members
Keystone Automotive Industries has appointed Stephen Rhodes and Ronald Moore to its board of directors, increasing the board to a total of eight members.
ATI Appoints Menneg EVP
Richard Menneg has been named executive vice president of Automotive Training Institute (ATI), a management consultant, coaching and mentoring business serving the tire and automotive service industries.