Chrysler Says it Will End Leasing Next Week
Chrysler LLC will stop issuing new car and truck leases next week through its financial arm and instead turn its resources to financing loans for customers, it told surprised dealers Friday. This could mean car shoppers with less-than-perfect credit will have a harder time finding leases to acquire a Chrysler, Dodge or Jeep. But those who want to purchase a vehicle with a loan through Chrysler might get better deals. The decision comes as the value plummets for used vehicles — in particular trucks and SUVs — leaving manufacturers with vehicles with poor value at auction once the leases expire.
Tales from the Track: The Sport is Called Racing, Not Just Winning
Dave Caracci, retired VP from Robert Bosch, has returned to his first love – racing. In part three of this multi-part series, Caracci takes us behind the scenes on the road with Prime Time Racing, where he serves as Logistics Engineer. Having accomplished a Top 5 finish in the international 12-hour race at Sebring, the team went on to race in the streets of St. Petersburg, where the Viper was totaled following a collision with one of the Penske team Porsches. Dave brings us up to speed since then.
Reports Speculate Conti Now Sees Schaeffler Takeover as ‘Desirable’
Schaeffler Group’s so-called “sneaking takeover” of Continental AG now appears to be unstoppable, following the supervisory and executive boards’ decision that an agreement with Schaeffler, parent company of brands LuK, FAG and INA, is “desirable.” At the same time, talk arose of a possible “white knight,” an outside firm more friendly to Conti that could counter Schaeffler’s bid.
Automakers Report Slumping Sales, Job Cuts
DETROIT — Ford Motor Co. has reported its worst quarterly results ever, according to the Detroit Free Press. Posting a second-quarter loss of $8.7 billion, or $3.88 a share, the company said it plans to focus on building more small, fuel-efficient cars. Ford isn’t the only major automaker to fall on tough times lately. Also
From Counterman.com: Mitch’s World – More Than Just Numbers to Me
I just finished eating dinner and realized that I won’t be going to sleep tonight until I purge this afternoon’s events from my psyche. The day started with a fascinating interchange that involved one of my primary suppliers. This would have been a whole lot more fascinating – and, infinitely less stressful – if it had happened to someone else and I was reading what they had written, rather than pulling an “all-nighter” myself. But, it wasn’t … And, here I sit scratching my head.
Tomax and WHI Solutions Announce Product Integration
SALT LAKE CITY — Tomax Corp., a provider of real-time merchandising and store execution applications and services, has announced the integration of WHI Solutions’ eCatalog and eCommerce modules into its own Retail.net and Customer Experience Architecture (CXA) solution. CXA is a retail management application for automotive service businesses. The addition of WHI’s integrated eCommerce module
IMR Study on DIY Decision Process on Brake Shoes and Pads Now Available
WESTMONT, Ill. – IMR Inc. has announced the availability of its new Do-It-Yourself (DIY) Decision Process Study on Brake Shoes and Pads. Among the key findings of the study is that 70 percent of DIYers decide where to buy first, according to IMR President and CEO Bill Thompson. “Our latest study on brake shoes and
The Week in Review (June 16-20, 2008)
By Amy Antenora The Week in Review offers a snapshot of the most highly read stories of the week as seen on aftermarketNews. To access the complete stories, simply click on the highlighted links. If you missed reading one of our daily news emails, just click on the link that says "News Archives" at the
Indy Racing League Championship Celebration to Place in Vegas During AAIW
INDIANAPOLIS — The stars of the IndyCar Series and Firestone Indy Lights will travel to Las Vegas for the annual Indy Racing League Championship Celebration, league officials have announced. The celebration will take place Nov. 5, the second night of the 43rd annual SEMA Show, the premier automotive accessories trade show in the world. The
Mitch’s World: Managing in Times of Great Change
What do you do when nothing seems familiar anymore: when every challenge appears different and somehow inconsistent with anything you’ve ever seen before? It’s easy to say: “Improvise. Adapt. Overcome.” But, this isn’t the Marine Corps. And, if that’s all you are doing: if everything you face is an exception to the rule because none of the rules seem to apply anymore, every day is an endless nightmare of crisis management, damage control and if you’re lucky, failure analysis.