AASA Reports Significant Drop in Unperformed Maintenance
The total dollar amount of unperformed automotive maintenance in the U.S. dropped by nearly $20 billion in 2003, according to the Automotive Aftermarket Suppliers Association (AASA). AASA’s 2004 Automotive Aftermarket Status Report notes that unperformed maintenance dropped from approximately $62 billion to $43.3 billion in 2003, due in part to consumers’ uncertainty about the country’s economy and their own jobs.
Bendix-Dana Joint Venture Officially Begins Business
As scheduled, Bendix and Dana’s joint venture — Bendix Spicer Foundation Brake LLC — officially began business yesterday following corporate approvals from both partners. The joint venture, headquartered in Elyria, Ohio, will operate technology centers in Elyria and Kalamazoo, Mich., to produce a full portfolio of advanced wheel-end braking systems components.
Gentex Named to BusinessWeek’s List of Hot Growth Companies
Gentex Corporation, the Zeeland, Mich.-based manufacturer of automatic-dimming rearview mirrors and commercial fire protection products, has once again been named to Business Week’s “Hot Growth Companies” list, which ranks the 100 fastest-growing publicly traded companies. It’s the fifth time in six years that Gentex has made this prestigious list.
DCX Accused of Intimidation
The controversy over DaimlerChrysler AG’s lending policies in Chicago, where the company is under a boycott and sales of the automaker’s vehicles continue to erode, appears to have escalated. Two longtime Chicago automobile dealers accuse DaimlerChrysler of harassing them because they plan to testify in a federal lawsuit on behalf of a former dealer, who accuses the automaker of racist lending policies. They say the company has made unreasonable requests for documents through subpoenas.
Ford Selected as Featured OEM for 2004 SEMA Show
Ford Motor Co. has been selected as the featured vehicle manufacturer for the 2004 SEMA Show, which takes place Nov. 2-5 at the Las Vegas Convention Center, during Automotive Aftermarket Industry Week. In addition to Ford, other OEM exhibitors will display concept vehicles and ways to modify vehicles at the SEMA Show 2004, including: American Honda, DaimlerChrysler, General Motors, Hyundai, Kia, Mazda, Mitsubishi, Nissan, SCION, Subaru and Toyota.
Executive Interview with Max Dull, Vice President and General Manager of Beck/Arnley
Our latest edition of “Executive Interview” features Max Dull, vice president and general manager of Beck/Arnley. Join us as Max shares insights from his extensive aftermarket experience, fills us in on what’s new at Beck/Arnley and explains the Beck/Arnley business philosophy.
Suppliers Feel Pinch from Auto Industry
Workers at the Timken Co. can spin magic with bearings, crafting superb tapered bits of metal tinier than grains of sand and 9-ton sculptured steel behemoths. The friction-reducing bearings let cars, sport utility vehicles, railroad engines, space satellites, computer disk drives and even missile guidance systems function. But for all that specialized engineering, the $3.8 billion Canton manufacturer is caught in the same pythonlike economic squeeze as businesses large and small across the world: how to cut costs and do more with less, because if they don’t, someone else eventually will.
Senate Passes Corporate Tax Bill
The Senate passed legislation this week on S. 1637, that would replace the Foreign Sales Corporation (FSC) tax benefit for exporters with a $170 billion, 10-year tax break package. The 92-5 vote for passage brings the U.S. closer to ending European Union (EU) tariff sanctions imposed on certain U.S. products, after the U.S. failed to end the current tax break ruled in violation of World Trade Organization (WTO) agreements.
Toyota Earnings of $10 Billion Solidify Hold on 2nd Place
Toyota Motor on Tuesday became the first Japanese company to report a net profit of more than a trillion yen, or about $10 billion, firmly establishing its position as the world’s No. 2 automaker ahead of Ford Motor.
Alcan Opens First of Two North American Automotive Facilities
Automotive aluminium supplier Alcan Automotive has opened a new manufacturing facility in Novi, Mich. The new plant is first phase of Alcan’s North American expansion. A sister facility is also under construction in Saguenay, Quebec. Automotive aluminium supplier Alcan Automotive has opened a new manufacturing facility in Novi, Mich. The new plant is first phase of Alcan’s North American expansion. A sister facility is also under construction in Saguenay, Quebec. The two plants represent a $30-million investment to serve the growing lightweight structural sub-system market in North America, said Dale Ewing, general manager for Automotive Structures North America — part of Alcan’s Engineered Products group.