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 the page to begin catching up on the latest industry news.
It’s no wonder that the most highly read item on aftermarketNews (AMN) last week was titled, The Pros and Cons of Importing in the Aftermarket. The Catevo Group presented the article that discussed providing the highest-quality aftermarket products at the lowest possible prices while still making a profit. "Today’s global marketplace requires new thinking on how you do business," The Catevo Group wrote. "Sourcing products from around the world in some cases has become not just another option but a necessity to compete and ultimately survive."
New car dealerships certainly have a way of not only surviving in the automotive industry, but thriving as well. AMN readers took interest last week in The Pulse: New Car Dealerships — Premium Line Parts Versus Second Line Parts. Eighty-one percent of dealerships use premium line parts, seven percent use second line, three percent use a group/private brand and nine percent said brand isn’t important.
In other OE news, Chrysler announced last week that it has proposed shedding non-core assets in contract talks with the United Auto Workers. The car maker has proposed shutting down or selling its Mopar unit, a maker of high-performance and specialty auto parts, and Chrysler Transport, which manages deliveries of supplies to Chrysler plants.
News of a deadline for Delphi ’s settlement with shareholders caught AMN readers’ attention last week. Shareholders and Delphi employees enrolled in the company’s stock plan sued the company in 2005 after Delphi said it found accounting irregularities, including inflated cash and profits, dating back to its spin-off from General Motors Corp. in 1999. In AMN news today, Delphi announced that it had reached a settlement agreement with the lead plaintiffs in the class action lawsuits. Under the settlement agreements, which remain subject to federal bankruptcy court and federal district court approval, the class of participants in Delphi ‘s employee retirement plans will receive an allowed interest in Delphi ‘s Chapter 11 case in the amount of $24.5 million and $22.5 million in cash from insurance carriers.
In additional legal news, Federal-Mogul’s exit funds received court approval last week. A $3.5 billion finance package aimed at moving the auto parts maker out of Chapter 11 bankruptcy was approved.
To view all of the news from the past week, simply click on the link for each corresponding day:
