AutoXray Lands on the Shelves of NAPA Auto Parts
AutoXray, a provider of automotive diagnostic scanners, is now offering its products through NAPA Auto Parts stores. NAPA has made the AutoXray EZ Scan line of diagnostic scan tools available in more than 6,000 stores nationally.
Elgin Industries Named Jasper Engines & Transmissions “Preferred Partner”
Elgin Industries has been named a “Preferred Partner” by Jasper Engines & Transmissions, one of Elgin Industries’ largest customers. The award was presented during the annual Jasper Engines & Transmissions Preferred Partners Banquet on March 9.
Intermet Reports Losses
Intermet Corp. revised its fourth quarter and full-year financial results and reported a loss of $95.4 million, or $3.40 per share, on sales of $183.3 million in the fourth quarter. The Troy manufacturer of cast-metal automotive components earned $430,000, or 3 cents per share, on sales of $180.47 million in the same quarter of 2002. For the year, Intermet lost $98.9 million, or $3.22 per share, on sales of $731.16 million. It earned $9 million, or 41 cents per share, on sales of $755.73 million for 2002.
German Auto Parts Makers Tour Southern U.S. Sites
Ten executives from German companies that serve the automotive industry are in Charlotte, N.C., and upstate South Carolina this week to investigate expansion sites. While rushing to expand in China, German automotive companies still consider the U.S. the most attractive market, in large part because BMW, Mercedes-Benz, Porsche and Audi continue to increase sales here.
TIA Unveils New Logo for the TIA World Tire Expo
The Tire Industry Association (TIA) has unveiled a new logo for the TIA World Tire Expo, the conference and exhibition for the commercial tire, retreading and recycling industries. The event is scheduled to be held April 20-22, 2005, in Louisville, Ky. “The new WTE logo works with our logo to insure that the tire industry knows that TIA is running this international show geared towards the commercial, retreading and recycling segments of the market,” said Larry Morgan, president of TIA.
Great Britain’s Automotive Aftermarket Holds Potential for U.S. Suppliers
Recent changes in market access regulations and similarities between consumers in the U.K. and U.S. make the $24 billion automotive aftermarket in Great Britain a potential sweet spot for U.S. suppliers.
Auto Part Suppliers Study Jobs
Automotive jobs will continue to leave Michigan, but there are remedies, says a report on the future of manufacturing to be delivered today at the opening session of the Society of Automotive Engineers World Congress in Cobo Center in Detroit. The U.S. is expected to see an 11 percent drop in its automotive production jobs by 2010, according to “The Odyssey of the Auto Industry” a study conducted by Roland Berger Strategy Consultants for the Original Equipment Suppliers Association.
Monro Names Valvoline Vendor of the Year
Valvoline has been named Vendor of the Year by the Monro Muffler Brake automotive service chain. Monro owns 600 stores in more than 18 states, operating under the Monro Muffler Brake and Service, Speedy Auto Service by Monro, Kimmel Tires-Auto Service, Tread Quarters Discount Tires and Mr. Tire brands. Valvoline has been principal lubricants and filter supplier to the Rochester, N.Y.-based chain since late 2002.
Bankrupt Venture Might Sell Some Assets
Bankrupt auto supplier Venture Corp. plans to put itself up for sale to see if there is any interest in the Fraser firm’s assets or business contracts, say lawyers and others familiar with the struggling company. Venture, which makes plastic parts such as instrument panels for the auto industry, has asked the U.S. Bankruptcy Court in Detroit for permission to market the company. A hearing to get approval and determine how marketing would be handled is scheduled for March 11.
Hankook Tire Boosts Sales in 2003
Hankook Tire America Corp. has reported one of its strongest 12-month sales periods in the company’s history. Increased supply from overseas and major OE contracts played pivotal roles in boosting 2003 sales, according to Bill Bainbridge, marketing director for Hankook.