CARQUEST and Kellogg’s Sign Three-Year Co-Primary Sponsorship with Hendrick Motorsports
Kellogg Co. and CARQUEST Auto Parts have announced a unique three-year agreement with Hendrick Motorsports that secures the two companies as co-primary sponsors of the No. 5 Chevrolet driven by Kyle Busch in the NASCAR NEXTEL Cup Series. Financial terms were not disclosed. Kellogg debuted as primary sponsor of the No. 5 Chevy in 1994, won the 1996 Cup championship with veteran Terry Labonte and continued its support when Busch took the wheel full-time in 2005.
LIVE FROM GAAS — The View from Wall Street
Morgan Stanley’s lead auto analyst Jonathan Steinmetz opened his presentation Wednesday morning at GAAS by taking a look at the current and projected state of the new vehicle market. “The new vehicle market is affecting what will happen in the aftermarket down the line,” said Steinmetz. “It’s still rough out there.”
Snap-on Announces 2006 First-quarter Results
Snap-on’s net earnings for the first quarter of 2006 increased 23.5 percent to $22.1 million from $17.9 million a year ago. Diluted earnings per share were 37 cents this year compared with 31 cents a year ago. Operating earnings increased 14.9 percent to $39.4 million from $34.3 million in the prior year. The operating margin on total revenues improved to 6.5 percent from 5.6 percent a year ago. Net sales were $593.5 million in the first quarter of 2006 compared to $598.7 million in the prior year. Sales increased by $9.8 million, or 1.6 percent, due to higher volume and pricing, which was more than offset by $15 million of currency translation.
Executive Interview with Peter Culley, Vice President Aftermarket for PBR International Limited
Peter Culley, vice president aftermarket for PBR International Limited, has devoted his entire working life to the automotive brakes industry. With a background in mechanical engineering and extensive experience in global automotive markets, including a 25 year association with the North American market, Culley has been instrumental in orchestrating PBR’s global aftermarket expansion.
DST Honored by Parts Authority with “Partner in Technology” Award
DST Inc. was recently honored by New York-based Parts Authority with its “Partner in Technology” award for 2005. DST’s integrated parts business management solution DSTWare manages the operations of Parts Authority’s ten locations in the metropolitan New York City area. The award was presented at a gathering of almost 4,000 customers of Parts Authority at its “Spring Training” themed trade show. According to Howard Cohen, IT director for Parts Authority, the “Partner in Technology” award was presented to DST because DSTWare has enabled the company accomplish more technology initiatives than ever.
Info Management Solution Created to Help Aftermarket Companies Meet Sarabanes-Oxley Compliance
As automotive parts suppliers close their books on 2005 — a tough year that saw a number of leading companies having to restate earnings and come under the review of the Securities and Exchange Commission for accounting and pricing irregularities — it’s becoming increasingly apparent that many of them need stronger oversight and processes related to parts and pricing management, says Terence O’Reilly, president and chief executive officer of Pricedex Software, Inc.
Affinia Group Reports Full Year Results, Outlines New Vision for Company
April will mark one full year that Affinia Group has been doing business out of its new Ann Arbor, MI, headquarters and it’s been a very good year, according to the top executives there. In a conference call earlier this week, top Affinia executives Terry McCormack, John Washbish and Keith Wilson talked about the company’s current financial condition and its continued plans for restructuring in 2006. The restructuring plans have included, and will continue to focus on, streamlining operations at its facilities around the globe.
Executive Interview with Greg Gyllstrom, Vice President and General Manager of Visteon’s North American Aftermarket Operations
As vice president and general manager of Visteon’s North American aftermarket operations, Gregory Gyllstrom is responsible for expanding the organization’s aftermarket business by coordinating and directing the company’s sales, product development and marketing activities. Recently, Gyllstrom shared with aftermarketNews a few insights into the underhood category as well as Visteon’s evolution from a Ford spin-off into an ‘all-makes/all-models’ supplier.
CSK Auto Selects Datavantage Xstore Java POS
Datavantage, a subsidiary of MICROS Systems, Inc. and CSK Auto Corp., parent company of CSK Auto Inc., have reached an agreement to deploy Datavantage’s Xstore Java-based Point-of-Sale system. CSK Auto Inc. operates approximately 1,267 stores in 22 states under the brand names Checker Auto Parts, Schuck’s Auto Supply, Kragen Auto Parts and Murray’s Discount Auto Stores.
Polk Presents Tenth Annual Automotive Loyalty Award Winners
R. L. Polk & Co. presented the 10th Annual Polk Automotive Loyalty Awards on Tuesday at the 2006 Automotive News World Congress.