For the second week in a row, more details on the so-called auto industry bailout has topped our round-up of the most popular news from the week.
On Tuesday, we published our exclusive Q&A with Steve Handschuh, president and COO of the Automotive Aftermarket Suppliers Association (AASA), who shared with aftermarketNews his thoughts on why this issue is so critical to the supplier industry and what must happen to stabilize the industry. In the interview, Handschuh noted that, “Any calculation of an OEM failure also needs to take into consideration the contributions suppliers make to today’s vehicles. Suppliers account for more than 40 percent of total automotive investment in research and development and continue to take on a greater role in the design, testing and engineering of new vehicle parts and systems – a role that is expected to grow significantly over the next five years.”
AMN readers also looked for more updates on the Detroit 3’s visit to Congress to make their pleas for governmental assistance. Ford, General Motors and Chrysler this week submitted to Congress their detailed business plans, a stipulation in their request for financial support. While all three automakers have pledged to consolidate manufacturing and speed up production of higher-mileage vehicles, Chrysler and GM said they could be out of business by the end of the month without some financial assistance. The three automakers have asked for a combined total of $34 billion in loans.
In other news, Perfection, a Marmon Highway Technologies – Berkshire Hathaway company, has agreed to buy the clutch hydraulic business from Affinia’s Global Brake and Chassis business unit. According to Jim Ott, president of Perfection, this acquisition will make the clutch specialist even more comprehensive in its coverage.
And speaking of comprehensive coverage, Beck/Arnley added 447 new part numbers to its line of premium foreign nameplate products in October. This brings the total number of new part numbers introduced this year to just under 1,500. Most of the new SKUs were added to the company’s brake & chassis and engine parts & filtration lines.
The final news item in our round-up of the week’s top news announced that Rusty Bishop will serve as chairman of the Automotive Warehouse Distributors Association (AWDA) for the 2008-2009 term. Currently CEO of Federated Auto Parts, Bishop began his career in the aftermarket more than 38 years ago with Fisher Auto Parts. Joining Bishop in AWDA’s top leadership positions are: Vice Chairman, Willi Alexander, regional vice president, Uni-Select USA, Roanoke, Va.; Secretary, David T. Segal, AAP, Automotive Supply Associates Inc., Concord, N.H.; and Treasurer, Timothy A. Lee, AAP, chairman, Lang Distribution, Kankakee, Ill.
