Auto Suppliers Under Pressure to Shift Production Abroad
A new study soon to be released by the Society of Automotive Engineers (SAE) is showing that the pressure to move automotive manufacturing jobs abroad will continue, despite federal and local government efforts to maintain or increase industry employment levels in the U.S. The SAE will release the report at the 2004 SAE World Congress in Detroit next month. The study, which is still under development, will outline “best practices” for global automotive suppliers. The Odyssey study seeks to help suppliers understand how their global manufacturing operations will need to change and how best to make those changes to survive and thrive.
Dana Restructuring Helps Rebound
Auto parts maker Dana Corp. credited its restructuring plan and an increase in heavy-truck production for its fourth-quarter rebound. Toledo-based Dana had a fourth-quarter profit of $68 million, or 45 cents per share. Excluding onetime items, the company earned 41 cents per share, or 1 cent higher than the expectations of analysts surveyed by Thomson First Call.
Del-Nat Tire Names VP of Marketing
Jim Mayfield has joined Del-Nat Tire Corp. as vice president of marketing. His responsibilities will include all marketing and product management functions. Mayfield joined the tire industry in 1981 with Michelin Tire Corp., where he held various sales positions in replacement and OE sales.
ASA Chief Staff Executive Addresses Consumer, Insurer Issues on Two CBS Programs
The Automotive Service Association (ASA) and its Chief Staff Executive Ron Pyle played a significant role in two CBS programs that addressed the issue of insurer-owned body shops. Pyle was recently interviewed at ASA’s headquarters in Bedford, Texas, and appeared Wednesday, Feb. 11, on the “CBS Evening News” during its “Eye on America” segment. On Thursday, Feb. 12, Pyle provided follow-up coverage on this issue when he was interviewed again by CBS during an appearance on “The Early Show.”
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.