More Aftermarket Eye Candy at This Year’s North American International Auto Show
Although there’s no shortage of muscle on the main floor at this year’s North American International Auto Show — the 850-horsepower Chrysler ME412 concept is only the beginning — there’s also a subterranean performance theme that’s been missing from previous shows. Once the take-it-or-leave-it realm of marginal players like Daewoo and stillborns like the revival Cunningham sports car, Cobo Center’s downstairs Michigan Hall exhibit area is studded this year with an intriguing array of production vehicles enhanced by aftermarket bolt-on goodies: designer wheels, low-profile tires, oversize brakes, high-performance shock absorbers and more.
Cooperation Urged in Auto Costs Fight
As a former Ford Motor Co. executive, Kathleen Ligocki knows about the carmakers’ mission to slash supplier prices. But in order to survive long-term, automakers must work with suppliers to take out the waste, said Ligocki, now chief executive of Tower Automotive. Speaking on an Automotive News World Congress panel Monday in Dearborn, Mich., Ligocki, a former vice president for Ford customer services, called for a collaborative effort between suppliers and carmakers to improve both sides’ bottom lines.
Borruso to Chair Motor Vehicle Lighting Council
Joe Borruso, president and CEO of Hella North America in Plymouth, Mich., has been elected chairman of the Motor Vehicle Lighting Council (MVLC). Joe Borruso, president and CEO of Hella North America in Plymouth, Mich., has been elected chairman of the Motor Vehicle Lighting Council (MVLC).
AIA Canada and Matthew.Scott Data Marketing Begin Aftermarket Service Provider Market Research Project
The Automotive Industry Association of Canada (AIA) has selected Matthew.Scott Data Marketing Solutions as the agency of record for a new automotive service provider market research project. In order to better serve the needs of AIA membership, which includes wholesalers, warehouse distributors and suppliers, and their ultimate customer base — installers — AIA is investigating what types of services automotive service providers need to survive and thrive in the industry.
Lear Bases Rosy Outlook on Economy, New Sales
Auto-interiors supplier Lear Corp. said Thursday it would grow its profit in 2004 as the company reaps the benefits of new business and an improving economy. Lear, in a presentation with analysts in conjunction with the North American International Auto Show, said it expects to earn $5.85 to $6.25 per share this year, in line with the analyst consensus estimate of $6.11. The forecast also beats the 2003 earnings-per-share consensus estimate of $5.51.
Motor Industry Chiefs See More Mergers and Acquisitions Ahead, Especially in Asia
Automotive executives are losing their taste for strategic alliances and expect to see an increase in mergers and acquisitions in the industry over the next five years, particularly in Asia, according to the results of the fifth annual survey of the automotive industry by consultancy KPMG LLP. Consolidation was seen as occurring globally, but respondents in particular focused on Asia, where 73 percent said they expect an increase. Sixty percent pointed to an increase in Europe, while 50 percent of those polled saw stepped up M&A activity in North America.
AASA to Host University of the Aftermarket’s Inventory Management Seminar
Gain a better understanding of the fundamentals of inventory control management and the purchasing process by attending the University of the Aftermarket’s Inventory Management Seminar. The event is set for Monday and Tuesday, March 8-9, at MEMA’s Research Triangle Park, N.C., headquarters and will be hosted by the Automotive Aftermarket Suppliers Association (AASA).
Harris Interactive Launches Internet-Based Automotive Market Research Product; Names Head of Automotive Research Group
Harris Interactive, a global market research and consulting firm, has introduced enhanced Internet-based market research capabilities for vehicle manufacturers and suppliers. Harris Interactive has developed a consumer panel to be used exclusively for automotive market research. The firm’s automotive insights panel is comprised of a body of respondents identified from among its multimillion-member panel of online survey respondents. The panel can provide vehicle manufacturers and automotive suppliers with insight into consumer preferences, product knowledge, buying behavior and brand awareness. In conjunction with this announcement, Harris Interactive has appointed Scott Upham senior vice president of the Automotive & Transportation Research (ATR). Upham, previously of J.D. Power and Associates, will direct automotive research efforts for the company.
Executive Interview with Wolfgang Winzer, Vice President and General Manager of Siemens VDO Automotive Corp. Service & Special Solutions, North America
Our latest edition of “Executive Interview” features Wolfgang Winzer, vice president and general manager of Siemens VDO Automotive Corp. Service & Special Solutions, North America. Winzer recently talked with aftermarketNews.com about the company’s extensive history in the OE market and how this will help them build a stronger aftermarket segment. He shared some of the company’s goals for its aftermarket business in the coming years.
Auto Executives Don’t See Big Profit Rise Until 2006, KPMG Study Reveals
The global automotive industry is not expected to return to peak profitability levels until at least 2006, according to the results of an annual global survey by KPMG, an audit, tax and advisory firm. However, automotive executives indicate the worst is behind them, citing 2003 as the worst year for profits in the half-decade, KPMG said. KPMG’s fifth annual survey, conducted in October and November 2003, polled 100 American, Asian and European automotive executives from 19 automakers and from 49 Tier 1 and 32 Tier 2 suppliers.