GM Hits Billion-Dollar Pothole
General Motors Corp. reported its worst quarterly loss in 13 years Tuesday as sales of GM’s aging trucks slowed, response to its newer cars was tepid and health care costs became what GM called “a crisis.”
Top Industry, Technology Experts to Address Aftermarket eForum 2005
Top vehicle aftermarket industry and technology experts will address the Aftermarket eForum, slated for Tuesday, July 19, through Thursday, July 21, at the Hyatt Regency O’Hare in Chicago. Members of sponsoring associations can attend the event at a discounted rate. Members who register before Friday, May 20, can attend for $695; after the May 20 deadline, registration is $895 for members.
Automotive Hall of Fame Announces 2005 Inductees
The Automotive Hall of Fame has released the names of its 2005 Class of Inductees. This year’s inductees are Mario Andretti, John Dunlop, Sir William Lyons, Jim Moran, Shirley Muldowney, John (Jack) Smith, Jr., John M. Studebaker and Alexander Winton. Formal induction ceremonies will take place October 11 in Detroit.
GM Tries to Cut Up to 2,000 Workers
General Motors Corp.’s efforts to accelerate cuts to its salaried workforce helped the company’s stock rebound on Monday, a day when GM was one of the few automotive stocks to increase. GM is trying to cut up to 2,000 salaried positions in the first half of the year through early-retirement offers, said an official who is familiar with the situation. The move is an apparent acceleration of a plan already disclosed by the automaker.
American Automobile Manufacturers Have Invested More Than $26 Billion in U.S. Over Past Two Decades, Says AIAM
A new study released today by the Association of International Automobile Manufacturers (AIAM) finds that new American automakers have invested nearly $27 billion in new factories and created more than 55,000 new, high-paying jobs over the past two decades.
Executive Interview with Tom Marx, President and CEO of The Marx Group
The Marx Group was founded in Los Angeles more than two decades ago, in 1984. Since 1997, the full service marketing communications company has been based in Northern California, and includes a staff of eight, with locations in Chicago (public relations), New York (creative), Los Angeles and Denver (account services). The Marx Group began as an advertising agency serving the apparel agency. Today nearly three-quarters of its business is focused on the automotive aftermarket. Join us as the company’s founder, Tom Marx, shares his experiences from a colorful career as a professional race-car driver, repair shop owner, author and advertising executive, and gives us the keys to getting sales and marketing to work in collaboration.
ACDelco Expands Its Ignition And Emissions Product Lines
ACDelco plans to add nearly 2,000 new part numbers to its ignition and emissions product offerings by year-end. This is part of a larger two-year expansion that will introduce a total of nearly 10,300 new parts.
Many Recalled Cars Remain Unrepaired
Timothy Michaud died in May after falling from the tailgate of a Chevrolet pickup and suffering severe head injuries. The 19-year-old from Maine never knew General Motors Corp. had recalled the pickup two months earlier because the tailgate cables could corrode and snap. At the time of the accident, Michaud’s employer, which owned the used 2000 pickup, hadn’t received a recall notice, said Stephen Schwarz, an attorney for the Michaud family. The pickup was one of the millions of recalled vehicles that go unrepaired each year. Sometimes vehicle owners are at fault for not getting repairs. But some safety experts say automakers and federal regulators share the blame because they haven’t developed a better system to track whether a vehicle has in fact been repaired.
AIAG Show Hosted Bold, Honest Stars
At a time when Detroit’s Cobo Center is catching a lot of grief for being a tired, rundown, expensive and cramped venue, it’s nice to see one trade show there on the upswing. Auto-Tech 2004, a conference and show staged by the Automotive Industry Action Group, concluded a stimulating three-day run Wednesday that was a huge improvement on previous year’s events.
Private Equity Firms Drive Away With More Auto Parts Deals
The auto parts industry continues to be one of the favorite places for private equity firms to put their money as they invested more than $1.5 billion in the industry in July.