By Amy Antenora
The Week in Review offers a snapshot of the most highly 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.
Concerning news continues to pour in from a number of notable automotive entities. This week, topping the list of the most-read stories on aftermarketNews comes word that Holley Performance Products has filed for bankruptcy. The Bowling Green, KY-based specialty parts maker says it’s saddled with too much debt following an expansion of the business in the late 90s.
On a brighter note, Motorcar Parts of America (MPA) this week reported that it has received an exclusive three-year extension of a supply contract for new and remanufactured alternators and starters from a major automotive retailer. The contract, which is with a current un-named MPA customer, is worth approximately $50 million.
Back to the bad news, GM this week posted its biggest annual loss. The automaker reported a $38.7 billion loss for 2007, the largest annual loss ever for any automotive company. The earnings report and buyback offer came as GM struggles to turn around its North American business as the economy weakens, according to AFX News.
While AMN readers were intrigued with the latest news of Chapter 11 and financial losses, there were two positive stories this week that managed to squeeze into the top five. Readers wanted to learn more about two new regional managers appointed at Keystone Automotive.
Also of interest were the details of ROL Manufacturing’s recent recognition from O’Reilly Auto Parts. ROL was named O’Reilly’s Vendor of the Year for 2007, for its hard work in the Exhaust and Engine Gaskets product categories.
To view all of the news from the past week, simply click on the link for each corresponding day:
