Visteon Shares Drop as Auto Supplier Warns of Lower Results
Shares of Visteon Corp., the nation’s second-largest auto supplier, dropped sharply Friday following a warning from the company that second-half results would be significantly below previous forecasts. Dearborn, Mich.-based Visteon said Thursday evening that lower vehicle production at Ford Motor Co., its biggest customer, and other factors such as higher steel and fuel costs had prompted it to withdraw a prior forecast for full-year earnings of $75 million to $110 million, or 60 cents to 90 cents a share. The company offered no further guidance.
Industry Standards for Aftermarket Data Program Set for Nov. 15-16
Northwood University’s University of the Aftermarket, in conjunction with its association sponsors and the AAIA Electronic Commerce Committee, will present “Industry Standards for Aftermarket Data” on Nov. 15-16. The program will give participants the training necessary to successfully implement AAIA’s new enhanced e-CAT Standard (ACES) and Product Information Exchange Standard (PIES). R.L. Polk & Co. will host the seminar at their site in Detroit, Mich.
Shield Autoglass to Open 108 Outlets in India
Car glass repair and replacement firm Shield Autoglass will open 108 specialized outlets under the brand name ‘Windshield Experts’ by 2008 to have a pan India presence for tapping the burgeoning market, with an investment of $4.5 million.
MEMA to Give Away Trip to Daytona 500 as Finale to 100-Year Anniversary
As a grand finale to the yearlong celebration of its 100-year anniversary and to say thanks to the product manufacturers who have made it possible, the Motor & Equipment Manufacturers Association (MEMA) announced today that it will be giving away a trip for two to the 2005 Daytona 500 – the 47th annual “Great American Race.”
AASA Reminds AAPEX Attendees to Absentee Vote
As evidenced by recent polls, the November presidential elections will be close — and as the 2000 election pointed out, every vote counts. The Automotive Aftermarket Suppliers Association (AASA) is reminding those planning to attend the Automotive Aftermarket Products Expo (AAPEX) in Las Vegas, or those who will be out of town, to submit an absentee ballot. Organizers for the 2004 AAPEX show have provided additional resources to make the absentee voting process easier. To order your absentee voter application go to www.aapexshow.com click on “Exhibitors,” then click on “Election 2004.”
Automakers to Slow Down Plants
In another sign of a sluggish U.S. economy and slumping sales at General Motors Corp. and Ford Motor Co., the automakers said Wednesday they plan to slow down their plants the last three months of 2004 and make about 165,000 fewer cars and trucks than a year earlier. The announcements may be bad news for auto suppliers and their workers, particularly for big companies such as Delphi Corp., Visteon Corp. and Collins & Aikman.
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.
PERA to Meet During 2005 AERA Expo
Incoming PERA Chairman Denny Janisewski of Gopher Motors Rebuilding, Inc., announced this week that PERA will hold its Spring Marketing and Technical Meeting in Las Vegas during the 2005 AERA Expo. PERA will hold its meetings on the mornings of April 29 and 30, 2005 at the Las Vegas Hilton Hotel, allowing attendees the opportunity to attend trade show events during the afternoon.
University Forum to Present Panel on OE Dealerships and Their Triple Edge Threat And Opportunity To The Aftermarket
It goes without saying that our industry continues to change before our very eyes. Distribution channels and methods continue to change. What worked as recently as a year ago might not be working now. The University of the Aftermarket’s annual University Forum can help you stay competitive, and keep pace with our ever-changing market. The event takes place on Sunday, Oct. 31 prior to the kickoff of AAPEX 2004. This year at University Forum the Automotive Aftermarket Industry Association’s current Chairman Dave Caracci will moderate the Executive Roundtable and Service Dealer Panel on “The OE Dealership & Their Triple Edge Threat And Opportunity To The Aftermarket.”
AIA to Hold Awards Program at AAPEX
The Auto International Association (AIA) Segment of the Automotive Aftermarket Industry Association will hold its 16th AIA Industry Awards program at AAPEX 2004. Last year’s awards program showcased 70 entries from 24 companies in an impressive display located in the Sands Expo Center Upper Level Lobby. This high-traffic area will again be the site for this year’s display.