Fewer U.S. Vehicles are Being Scrapped, According to R. L. Polk & Co.
The fact that vehicles are staying on the road longer is a boon for the aftermarket, and according to recent research from R. L. Polk & Co., the numbers are moving even more in the aftermarket’s favor. Vehicle scrappage rates declined 9.1 percent in 2003, according to recent Polk research. The number of passenger cars scrapped in 2003 was down 6.1 percent while light trucks experienced a 12.7 percent decrease. Both numbers were factors in driving the scrappage rate down for all vehicles, a trend since 1970, according to Polk.
ArvinMeritor Launches Search for CEO Successor
ArvinMeritor’s board of directors has retained an international executive search firm to identify a successor to Larry Yost, chairman and CEO. Yost said he will remain in his current capacity until a successor is found.
Yost to Retire as ArvinMeritor CEO
Auto-parts supplierArvinMeritor Inc., which lost its bid to buy Dana Corp. last year, said Monday it is searching to replace chief executive Larry Yost, who plans to retire. The Troy-based company offered few details about the search, but company spokeswoman Lin Cummins said Yost has wanted to retire for some time. Yost led the company through several transitions including the 2000 merger of Arvin Inc. and Meritor Automotive Inc. He had been CEO of Meritor before he became chairman and CEO of ArvinMeritor.
Monro Muffler Brake to Acquire Mr. Tire Locations from Mile One Automotive
Monro Muffler Brake has signed a definitive agreement with privately held Mile One Automotive to acquire 36 Mr. Tire locations in Maryland and Virginia. The company has no plans to close any of the Mr. Tire locations, and the stores will continue to operate under the current brand name. Monro also said it intends to retain substantially all Mr. Tire store employees.
“DST Asks”: What Do You Look For In a Computerized Business Management System?
Technology is breaking down the barriers that once hindered our ability to process and share information efficiently. As our industry taps into the power of new technologies, those businesses that adopt and embrace them sooner rather than later will realize new efficiencies and bottom-line improvements while simultaneously setting the revised standards of successful business operation. Those standards will be the benchmarks of competitive advantage that will steer the future of the industry.
Jerry Mosingo Named COO of ASC Incorporated
ASC Inc., a full-service specialty-vehicle development partner for automotive manufacturers, has named Jerry Mosingo COO, effective immediately. He replaces Scott Koepke, who has been named COO of ASC-Yachiyo Manufacturing Ltd. (AYM), an ASC joint venture company in Columbus, Ohio. Both executives will report to ASC’s president and CEO, Paul Wilbur. Mosingo’s COO assignment is expected to last through 2004.
Congress Could Consider Tire-Aging Legislation
The National Highway Traffic Safety Administration (NHTSA) is currently studying the issue of whether aging has a detrimental effect on tires (since some rubber compounds may deteriorate over years, regardless of use). Sen. Mike DeWine (R-Ohio) wants to introduce legislation that will require NHTSA to study the issue and prepare a report to Congress within three years.
New Ideas Should Help Old Favorite
After getting whacked by big upheavals in the automotive supply world, the wobbly SAE World Congress, Detroit’s biggest and most important trade show, seems to be finding its legs again.
Akebono Announces Passing of Regional Sales Manager Carl Schaefer
Akebono announced yesterday that Eastern Regional Sales Manager Carl Schaefer unexpectedly passed away in January. Schaefer was a 25-year veteran of the automotive aftermarket business, with a focus on brake systems. He joined Akebono in 2002 and managed the company’s aftermarket sales in the eastern U.S. and Canada.
Dana Names GM Europe Exec Michael Burns CEO and President, Acting President Bill Carroll to Retire
Dana Corp.’s board of directors has named Michael Burns CEO, president and a director of the company, succeeding the late Joe Magliochetti, who passed away Sept. 22, 2003. Burns, who has been president of General Motors Europe since 1998, will officially take over on March 1. Bill Carroll, who has served as acting president and COO since September, will continue in these positions until March 1, at which time he will retire from the company.