New Life in the Aftermarket
Pricey auto accessories like Lamborghini-style flip-up doors, 24-inch rims and 10-inch television screens are fueling the latest spending craze in the automotive industry, with young enthusiasts and old hot-rodders alike “pimping out” their cars. It’s a booming $31.5-billion-a-year business, whose customers no longer fit the stereotypical image of street thugs, hip-hop stars and celebrities.
Valspar Recovers from Hurricane Katrina
On August 29th, The Valspar Automotive Group experienced a direct hit from Hurricane Katrina at the facility in Picayune, MS. In the days following the storm, the Valspar Refinish team setup operations in Grand Prairie, TX and Corona, CA to continue to services our customers.
ArvinMeritor Reports Fiscal Year 2005 Third-Quarter Results
ArvinMeritor, Inc. reported financial results for its third fiscal quarter ended June 30, 2005. The company posted sales of $2.4 billion, up 15 percent from the same period last year. The Commercial Vehicle Systems (CVS) division posted sales of $1.1 billion, up $256 million, or 30 percent, from last year’s third quarter, with an operating margin of 6.4 percent, up from 5.7 percent in the third quarter of the prior year.
Auto Parts Industry Presses Senate To Pass Association Health Plan Bill
Ten trade associations representing the entire scope of the auto parts industry, from suppliers to aftermarket, challenged the United States Senate to enact the “Small Business Health Fairness Act” (S. 406). The bill would allow small businesses to purchase affordable health care coverage through a trade association. In a show of solidarity, the 10 groups submitted a joint letter to the Senate urging immediate support for the bill, commonly referred to as “Association Health Plans” (AHPs).
U.S. Filter Demand to Reach $11 Billion in 2009
According to a study from The Freedonia Group, Inc., the demand for filters in the U.S. is expected to increase 4.3 percent per year to more than $11 billion in 2009.
Herman Trend Alert: Take a Break?
People who work hard at their jobs for 20 years or more, while raising a family, often reach a point where they just want a break. They want to do something different for a few weeks or a few months, to escape from their routines with new experiences. Those who engage in this time away from their routine, return refreshed and rededicated to high achievement.
Ford, Chrysler Join Discount Race
Auburn Hills, Mich.-based Chrysler Group on Thursday revealed a multimillion-dollar marketing campaign about its new-vehicle incentives for June that takes a dig at struggling cross-town rival GM by boasting: “You don’t need an employee discount to get a great deal from us.”
LKQ Increases Borrowing Capacity
LKQ Corp. has entered into a second amendment to its credit agreement with Bank of America, N.A., LaSalle Bank National Association, JP Morgan Chase Bank, NA and National City Bank of the Midwest.
Baer Brake Systems Announces Executive Appointments
In response to the escalating demand for its brake systems and components, Baer Brake Systems has announced new appointments to its sales and marketing teams. Under new vice president of sales Fred Petrivelli’s direction, veteran Baer salesmen Ben O’Connor and Rick Elam have been promoted to managers, overseeing the activities of the manufacturers representatives groups.
Aftermarket Associations Urge CARB to Drop 15/150 Warranty Regs
Eight aftermarket associations filed a petition this week with the California Air Resources Board (CARB) calling on the agency to rescind its regulations requiring that car companies warrant partial zero emission vehicles for 15 years/150,000 miles. The petition asserts that CARB has failed to present any evidence that a 15/150 warranty would reduce emissions, increase durability or improve maintenance of vehicle emissions systems.