System Allows Consumers to Buy Salvage-Yard Auto Parts from New-Parts Dealers
Joseph “Joey” Woodfin IV seized an opportunity. He noticed how automotive salvage yards, such as his Woodfin Auto Parts business in Chesterfield County, Va., had been looking for ways to sell more used car parts to consumers. Also, national auto-parts retailers wanted to be able to offer different merchandise to keep shoppers coming back. Woodfin decided to merge the needs, creating a budding national business that links auto recyclers with car parts retailers. His new EverDrive LLC serves as a conduit for auto parts retailers to have access to a vast supply of used parts through a network of more than 200 auto recyclers across the country.
ASA Members Receive Program Pricing on ALLDATA
The Automotive Service Association (ASA) and ALLDATA have reached an agreement to provide ASA members with price reductions on ALLDATA’s electronic diagnostic and repair information.
Siemens VDO Automotive Awarded Cooling Fan Assembly Business for Three Major U.S. Accounts
Siemens VDO Automotive has been awarded the entire cooling fan assembly business for AutoZone, O’Reilly’s Auto Parts and CSK. According to Sean Stanic, aftermarket sales director for Siemens VDO Automotive Service & Special Solutions, the company was selected for its OE-style fit and reliability.
NASCAR and Advance: A ‘Win-Win Situation’
There’s a trite phrase used with companies that market with NASCAR, said Karl Barnhart, a managing director at CoreBrand, a New York branding firm. “You win on Sunday, and you sell on Monday,” he said.
Dave Caracci Elected New AAIA Chairman of the Board of Directors
AAIA has elected its officers and board of directors for the 2004-2005 term at its spring meeting in Phoenix, Ariz.
Moody’s Accelerates Roanoke, Va.-Based Advance Auto Parts’ Rating
Advance Auto Parts just moved up. Moody’s Investors Service upgraded its ratings for the Roanoke, Va.-based retailer of automotive parts and accessories based on the company’s report for the fiscal year ended Jan. 4.
California Legislators to Attend Car Care Month Event in Sacramento
ASC, CAWA and NASCAR will join AAIA in recognizing April as National Car Care Month at a special event for California legislators, local media and area aftermarket representatives. A reception and private showing of the new “Experience NASCAR” movie at the IMAX theater near the state capitol is scheduled for April 13.
Midas Completes Debt Refinancing
Midas has entered into a three-year, $115 million credit facility to refinance its existing debt. The new facility consists of a $55 million revolving loan and a $60 million term loan from a group of lenders led by Bank One, NA.
Standard Motor Products Announces Fourth Quarter and Full Year 2003 Results
Standard Motor Products has reported its financial results for the three months and for the year, which ended Dec. 31, 2003. Consolidated net sales for the fourth quarter of 2003 were $162.5 million, compared to consolidated net sales of $107.9 million during the comparable quarter in 2002. Losses from continuing operations for the fourth quarter of 2003 were $5.5 million or 29 cents per diluted share, compared to $8.1 million or 68 cents per diluted share in the fourth quarter of 2002.
Advance Auto Parts Hopes to Maintain Fast Pace of Earnings, Expansion
Roanoke, Va., is home to an automotive parts retailer that keeps pushing the pace. Advance Auto continues to expand, stretching itself across many markets. By the end of 2003, it had 2,546 stores in 39 states, Puerto Rico and the Virgin Islands with plans to open up to 135 in 2004. But how long can it keep up this speed?