German Auto Suppliers Well Positioned, but Credit Profiles Diverging
Fitch Ratings said leading German automotive suppliers are in a comparably good position to deal with the tough trading conditions of the auto supply industry thanks to technological strengths, enlarged global reach and robust profitability. However, credit profiles will continue to diverge between issuers with strong technology and those that are highly dependent on specific regions, original equipment manufacturers and products not commanding the necessary resources to compete globally, the rating agency said.
The Top Ten News Stories of 2007
For the fourth year in a row, the editorial staffs of aftermarketNews and Counterman magazine have selected what they determined to be the most significant events to impact the automotive aftermarket in the past year. News stories are presented in chronological order.
Visteon Selected To Help Department of Energy with Fuel-Efficiency Initiative
Visteon will share some of its powertrain electronics technology with the United States Department of Energy as part of a project to help foster the use of ethanol-fueled E85 optimized vehicles. The company is participating in a project that the Department of Energy has initiated for its High Efficiency Clean Combustion E85 Optimized Engine (HECCE) program. The project involves fuel-efficiency research as part of the Bush administration’s "20-in-10" initiative, which calls for displacing 20 percent of gasoline usage in the next 10 years by increasing the use of alternative fuels and boosting efficiency.
Heavy Duty Reman Group to Hold Second Summit
CHANTILLY, VA – APRA’s Heavy Duty Remanufacturing Group (HDRG) will hold its Second Annual Summit Jan. 21, 2008, at the Mirage Hotel and Casino in Las Vegas. The meeting will open at 8:45 am and conclude at 4:45 pm. The Reman Summit will take place just prior to Heavy Duty Aftermarket Week (HDAW). The keynote
Motor Vehicle Parts Suppliers Applaud Fuel Efficiency Research Projects by Department of Energy
The Motor & Equipment Manufacturers Association (MEMA) applauded the Aug. 8 announcement of $21.5 million for 11 cost-shared research and development projects with the goal of improving light-duty vehicle fuel efficiency. “Motor vehicle parts suppliers represent about 40 percent of total automotive research and development investment and are already working with auto companies on a wide range of fuel-saving technologies, from bio-fuels to clean diesels to fuel cells,” said Bob McKenna, president and CEO of MEMA.
R. L. Polk & Co.’s Ask the Industry Looks at the
In our most recent Executive Interview we asked Jeff Stauffer, senior vice president of global group marketing for Affinia Group, Inc., for his thoughts on ‘cherry picking’ — the growing trend of aftermarket customers selecting their suppliers to suit their needs. At a reader’s request, we opened this question up to several executives from other aftermarket parts makers.
Record Number of NASCAR Engine Builder Teams to Participate in 2007 Clevite Engine Builder Showdown
Participation in the eighth annual Clevite Engine Builder Showdown — now called the MAHLE Engine Builder Showdown — presented by MAHLE Clevite Inc., is expected to be the highest since the competition was first held in 2000. Nineteen teams from 10 NASCAR engine shops will compete in building and successfully running a NEXTEL Cup 357-cubic-inch Ford engine in the shortest time possible.
The Week in Review (March 12-16, 2007)
By Amy Antenora Editor The Week in Review offers a snapshot of the most 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, click on any of the dates listed at the bottom of
European Union OKs Sale of Dana’s Engine Parts Business
European Union (EU) regulators Wednesday approved the $98 million sale of Dana Corp.’s engine parts business to a German supplier, the EU’s regulatory arm said. The European Commission said the purchase of the Toledo, OH, company’s engine-parts business by Mahle GmbH of Stuttgart, Germany, did not pose antitrust concerns. Dana said it expected the sale to close this month.
Recon Automotive Remanufacturers Hosts International Engine Builders on Study Tour
PHILADELPHIA – Recon Automotive Remanufacturers recently hosted a group of engine rebuilders from Germany. The group was on a study tour of the U.S. engine remanufacturing industry. Sponsored by Mahle of Germany, Mahle’s distributor Hans Hess Autoteile and the Automotive Engine Rebuilders Association (AERA), the tour was designed to communicate some of the unique features