Week in Review
THE WEEK IN REVIEW (August 14-18, 2006) _______________________________________________________________________________________________________ _______________________________________________________________________________________________________ ASSOCIATION & LEGISLATIVE NEWS: _______________________________________________________________________________________________________ _______________________________________________________________________________________________________ Updates Made to NASTF OEM Service Information Website NASTF recently added updated information to its OEM Service Websites page. According to NASTF, three notable changes have occurred within the listings: Acura and Honda have significantly reduced their annual subscription rates;
AFS 2006 Offers a View from Wall Street, BB&T Capital Markets on AFS 2006 Agenda
F. Cristello of BB&T Capital Markets will address a “View from Wall Street” during the 2006 Aftermarket Financial Symposium (AFS), which takes place Sept. 26-27 at the Hyatt Regency O’Hare in Chicago. The presentation, scheduled for 11 a.m. on Wednesday, Sept. 27, will focus on the investment community’s view of the aftermarket, including how developing trends might impact different areas of the aftermarket (including such sectors as DIY, DIFM and collision repair) and how that might translate into potential investment opportunities. Cristello will also cover how valuation metrics of publicly traded aftermarket companies differ.
Lund International Realigns Sales Structure; Plans to Open Corporate Distribution Center
Lund International has announced an internal restructuring within its aftermarket sales team in an effort to realign assets to maximize growth potential and further increase customer satisfaction. As part of the restructuring, Eric Medves has been promoted to the position of director of channel management, WD – responsible for developing and implementing growth sales strategy.
Collision Industry Foundation to Hold Industry Bus Fundraiser
The Collision Industry is joining together to buy a specially- equipped bus for long-term benefactor Camp-Mak-A-Dream. The vehicle will be on display at NACE 2005.
Car Makers Cut Free Maintenance
In an effort to trim costs, car makers are eliminating their free-maintenance programs — a move that could cost drivers thousands of dollars in additional upkeep over the life of a vehicle. Now, however, a growing number of manufacturers — including some of the same brands that kicked off the free-maintenance movement more than a decade ago — are requiring new customers to pay for maintenance services like oil changes, tire rotations and other routine tasks that used to be free.
SEMA Votes Jim Cozzie New Chair-Elect, Four Newcomers Join Incumbents To Round Out Board Elections
The Specialty Equipment Market Association (SEMA) has announced the results of the 2005 board of director’s elections. Jim Cozzie was voted incoming chair-elect; Richard Sherman, Doug Evans, Craig Chatt and Anne K. Johnson won seats on the 24-member board.
New SEMA Board Members Named
The results of the SEMA Board of Directors election are final. Mitch Williams has been elected SEMA Chairman of the Board, Vehicle Performance Systems Inc.; and Jim Cozzie was chosen as SEMA Chair-Elect, B&M Racing & Performance Products.
Prolong Expands Retailer Lineup for 2005
Prolong Super Lubricants, Inc., a manufacturer and marketer of patented consumer automotive, commercial/industrial and household products, announced that its products will be carried in close to 15,000 retail stores in the U.S. this year, a significant increase in the number of outlets over the prior year, according to the company.
AAIA Opposes N.J. Crash Parts Bill
Legislation (A. 3682) that would limit competition in the crash parts business is moving forward in the New Jersey legislature. A committee approved the measure as amended, but without recommendation last week. The bill creates as virtual five and a half year vehicle warranty period that would steer consumers to car company crash parts for all collision repairs. The Automotive Aftermarket Industry Association (AAIA) said it believes this requirement is anti-consumer, unnecessary and would be in violation of a federal law known as the Magnuson-Moss Act, which prohibits warranties from being conditioned on the use of original equipment parts.
Prolong Expands Retailer Lineup for 2005
Prolong Super Lubricants has announced a significant expansion into more retail stores this year. Prolong products will be carried in close to 15,000 retail stores in the U.S. in 2005, which the company said is a significant increase in the number of outlets over the prior year.