New Life in the Aftermarket
Pricey auto accessories like Lamborghini-style flip-up doors, 24-inch rims and 10-inch television screens are fueling the latest spending craze in the automotive industry, with young enthusiasts and old hot-rodders alike “pimping out” their cars. It’s a booming $31.5-billion-a-year business, whose customers no longer fit the stereotypical image of street thugs, hip-hop stars and celebrities.
R.L. Polk & Co.’s Ask The Industry Explores the Philosophy of Collaboration
For this edition of Ask The Industry, we venture into the philosophy of collaboration. It’s a single word solution to an extremely complex problem for everybody in the automotive aftermarket, from manufacturer CEO to warehouse manager. Although that word has been spoken from prominent voices throughout the years, the reality is that there are still major hurdles that need to be dealt with before the industry can begin to chart a course to success via collaboration. We spoke with some industry executives to give us insight on how we may be able to arrive at that point.
LIVE FROM GAAS: Day 2
The second day of the 2005 Global Automotive Aftermarket Symposium (GAAS) in Chicago included an overview of the aftermarket industry’s efforts to reach out the public and Wall Street – via initiatives like the Be Car Care Aware campaign.
Lear’s Plunging Profit to Send Jobs Packing
The bug afflicting Detroit’s automotive industry is infecting even the healthiest companies now. Auto supplier Lear Corp. on Friday said it is planning an aggressive cost-cutting strategy, which includes moving manufacturing and engineering work to low-cost countries, after it posted a $75.8-million decline in profits during the first quarter of the year.
Accounting Concerns Jolt GM’s Stock
General Motors Corp.’s stock skidded Wednesday after accounting experts cast doubt on how the automaker reported certain transactions with former subsidiary Delphi Corp., its largest supplier. The Wall Street Journal reported Wednesday that several accounting experts it contacted had looked askance at the choices made. A GM spokeswoman insisted the accounting was appropriate and that the experts did not have complete knowledge of the transactions.
Monroe Recommends 50,000-Mile Shock and Strut Replacement
Tenneco Automotive’s Monroe brand of shocks and struts has introduced a new 50,000-mile ride-control replacement recommendation for vehicle owners who want to ensure desired ride and handling characteristics.