Car Makers Cut Free Maintenance
In an effort to trim costs, car makers are eliminating their free-maintenance programs — a move that could cost drivers thousands of dollars in additional upkeep over the life of a vehicle. Now, however, a growing number of manufacturers — including some of the same brands that kicked off the free-maintenance movement more than a decade ago — are requiring new customers to pay for maintenance services like oil changes, tire rotations and other routine tasks that used to be free.
Monroe, Walker Expand Import Ride Control and Exhaust Coverage
Tenneco Automotive announced a significant expansion of premium application-tuned Monroe replacement shock absorbers and struts for foreign-nameplate passenger cars, light trucks, minivans and SUVs, during an import technology briefing in June at its Monroe, MI, headquarters.
Ricardo Report Predicts Vastly Expanded U.S. Light Duty Diesel Market
The 2005 Ricardo diesel report predicts a momentous rise in U.S. light duty diesel market penetration over the coming decade. Sales in the light duty vehicle segment (up to 8,500 pounds gross vehicle weight) are projected to grow from a mere 43,000 units in 2004, to exceed one million units annually by 2012, rising to 1.5 million by 2015.
Pricedex Partners with University of Ottawa to Study Eastern Europe’s Aftermarket
Pricedex Software Inc., a provider of product information management software systems for the automotive aftermarket, is partnering with a team of graduate students from the University of Ottawa Executive MBA program to investigate the scope, scale and needs of the emerging aftermarket in Eastern Europe.
German Firm Extends Auto Parts Range
ThyssenKrupp AG will increase the range of vehicle parts it produces in China, supporting its customers as they attempt to increase their share of the growing market. “We will make a complete portfolio of parts in China and will make selective acquisitions here,” said Wolfram Morsdorf, chairman of the executive board of ThyssenKrupp Automotive.
GDX Automotive Acquires North American Vehicle Sealing and Encapsulation Businesses from SaarGummi
GDX Automotive today announced the closing of its acquisition of the SaarGummi operations in Quebec, Canada and Mexico. The acquisition includes ongoing business in vehicle sealing, glass encapsulation and molded rubber product segments, totaling approximately $80 million in annual revenues. Terms of the transaction were not disclosed.
Chinese Carmaker to Cut Costs by Using Local Components
FAW VW, German car maker Volkswagen’s joint venture with First Automotive Works Corp (FAW), has vowed to increase the amount of locally-produced parts in its cars to cut costs under persistent pressure from the strong euro.
Automakers Head for Shanghai Auto Show
Top world automakers will showcase new models in China’s commercial center of Shanghai next week in hopes of reviving languishing domestic sales. General Motors Corp., Ford Motor Co. and other major industry players will be showing dozens of vehicles at the Auto Shanghai 2005 trade show, part of Shanghai’s push to establish itself as hub for the world auto industry.
Navistar’s South American Engine Subsidiary to Acquire Another Diesel Engine Company
Navistar International’s South American engine subsidiary, International Engines South America, has agreed to acquire MWM Motores Diesel Ltda (MWM), a major Brazilian diesel engine producer. Owned by the Thiele family, MWM began operations in Brazil in 1953. The company is headquartered and has manufacturing operations in Sao Paulo, Brazil.
BorgWarner in Right Place to Compete
BorgWarner Inc., the new auto supplier on the block in Auburn Hills, Mich., has a competitive edge that hasn’t gone unnoticed on Wall Street. While some automotive-related stocks have seen double-digit declines in the past year, BorgWarner has seen double-digit gains. And, even with the difficulties faced by auto stocks, BorgWarner has continued to get favorable marks from Wall Street analysts.