U.S. Industry Associations Sponsor 2005 Australian Aftermarket Trade Show
Several major U.S. industry associations have offered their support for the Australian Automotive Aftermarket Association (AAAA) in promoting its 2005 AAAA Trade Show. The Automotive Aftermarket Industry Association (AAIA) has announced it will promote the show, as the event will provide AAIA members the opportunity to reach key buyers in the emerging Asian-Pacific markets. In addition, the Automotive Parts Rebuilders Association (APRA) has signed on as a co-sponsor of the event. The Motor & Equipment Manufacturers Association and a number of other U.S. aftermarket associations will also sponsor the event.
Steel Prices Rise Again
The price of steel in the U.S. is rising again, six months after the Bush administration lifted tariffs that had been intended to protect the American steel industry from cheaper foreign imports.
MEMA Honors Sen. Alexander and Rep. Knollenberg with Joe Magliochetti Industry Champion Award
Sen. Lamar Alexander (R-Tenn.) and Rep. Joe Knollenberg (R-Mich.) were recently honored as inaugural recipients of the Joseph M. Magliochetti Industry Champion Award, presented by the Motor & Equipment Manufacturers Association (MEMA) on May 5. The award, which was created to honor the work of legislators helping to advance the automotive industry, was presented at a special dinner during the first MEMA Legislative and Public Policy Summit in Washington, D.C.
Growing Auto Parts Market in China is an Opening for New Business Models
Last year was a remarkable year for the automobile market in China. Car production grew 80 percent and domestic car sales soared nearly 70 percent over the year before. During 2003 the total import to China of cars and car parts grew 86 percent over 2002. China now ranks fourth in automobile production and third in automobile sales in the world. According to PRCDirect — a consulting firm which specializes in the Chinese market — this sales growth is creating a corresponding demand at the aftermarket and OE levels.
High Price of Steel Leaves Consumer Feeling the Squeeze
The price of steel has risen substantially over the past few months, and many suppliers to the auto industry are feeling squeezed because they are big buyers of steel, according to a new study conducted by Frost & Sullivan consulting firm.
WTO Penalizes U.S. Exports for First Time
The United States comes under World Trade Organization penalties for the first time today, the result of congressional failure to steer through presidential politics, employment anxiety and budget deficits and head off the tariffs. A 5-percent penalty tariff awaits U.S. exports such as jewelry and refrigerators, toys and paper. The penalty climbs by 1 percentage point for each month that lawmakers fail to bring U.S. laws in line with international trade rulings.
MEMA Names Inaugural Winners of Joseph A. Magliochetti Industry Champion Award
Sen. Lamar Alexander (R-Tenn.) and Rep. Joe Knollenberg (R-Mich.) are the winners of the first-ever Joseph A. Magliochetti Industry Champion Award, which has been established by MEMA to recognize public officials for outstanding leadership on behalf of the automotive supplier industry. The first ever presentation of the award, named in honor of the late president and CEO of Dana Corp., will be held at a gala dinner on Wednesday, May 5, during the MEMA Legislative and Public Policy Summit in Washington, D.C.