US-based retailer and distributor of aftermarket automotive parts and accessories, AutoZone, has announced its financial results for the fourth quarter ended Aug. 31, 2024. The company reported net sales of $6.2 billion, up 9.0% from the fourth quarter of fiscal 2023, according to a press release dated Sept. 24. Despite a minor decrease in gross profit margin to 52.5%, the company saw an operating profit increase of 6.1% to $1.3 billion. Net income for the quarter was $902.2 mi...

US-based ReverseLogix, known for its end-to-end returns management solutions, announced that it has been chosen by JEGS, an online retailer specializing in performance automotive parts, to enhance its customer returns experience and boost efficiency within its operations, according to a press release dated Sept. 24. The company said this collaboration marks a strategic move within the automotive aftermarket industry, which is known for its rapid pace and fluid nature, by recognizing the impor...

Altor Locks, a US-based firm recognized for manufacturing robust coupler locks, announced that it has entered into a strategic partnership with Automotive Accessories Marketing USA Inc. (The AAM Group), the largest distribution group in the Specialty Equipment Market Association (SEMA) marketplace, according to a press release dated Sept. 4. This collaboration was initiated after The AAM Group's members, which include leading automotive aftermarket distributors, were impressed by the resilien...

Continental has announced its plan to build its first fully owned tire distribution center in the US, located in the Dallas-Fort-Worth-Metroplex, aiming to enhance service levels and customer support, according to a press release dated Sept. 18. The facility's construction is slated to start in September, with the objective of commencing operations in 2026. Initially, the distribution center will occupy 753,000 square feet with a capacity to store over 800,000 tires, and it has the potential ...

Nexus Automotive International (Nexus), a Geneva-based alliance of independent car parts distributors, announced the opening of a new North American head office in Dallas to better meet regional expectations and enhance its supplier satisfaction, according to a press release dated Sept. 11. Nexus will place a strong focus on North America, Asia and Africa/Middle East regions in the coming months, with plans to attend key events such as AWDA/AAPEX, Automechanika Dubai and Shanghai. In addition...

Bridgeline Digital Inc., a US-based company known for its AI-powered marketing technology, has announced that its product HawkSearch will be utilized by a prominent national aftermarket automotive truck parts retailer to enhance product discovery on its e-commerce website, according to a press release dated Aug. 29. This integration is aimed at increasing sales through HawkSearch's AI-powered Smart Search feature, which significantly improves the accuracy and relevance of search results for c...

Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, has announced that it is amplifying its sustainability efforts through a newly formed partnership with Worldfavor, a platform known for enabling access to transparent data, according to a press release dated Aug. 29. This collaboration is set to enhance the transparency and sustainability of Meko's supply chain, targeting the entirety of its supply base which encompasses both centrally managed suppliers ...

Rowe Auto Service, a parts supplier located in the US, recognized for its extensive product knowledge, professional service and wide-ranging inventory, has been acquired by Fisher Auto Parts, according to a report by Aftermarket Intel. This acquisition marks Fisher Auto Parts' third acquisition since its significant affiliation with Berrodin Parts Warehouse in October 2023. Furthermore, this purchase accompanies the opening of 32 new greenfield locations in the year to date, in addition to th...

US-based automotive parts distributor Genuine Parts Co. (GPC) announced the appointment of Jenn Hulett as executive vice president and chief people officer, effective Aug. 19, in a press release issued on the same date. Hulett's appointment follows the retirement announcement of Jim Neill, who has committed to continue in an advisory capacity until Sept. 30 to facilitate a smooth transition. In her new role, Hulett will oversee GPC's global human resources operations, contributing to the comp...

NexaMotion Group (NMG), a US-based company offering solutions to simplify complex vehicle repair, has announced the expansion of its general repair products at its Transtar Aftermarket Solutions location in Orlando, Fla., according to a press release dated Aug. 13. Transtar, with over three decades of presence in the Orlando market, has been known for supplying transmission and driveline parts to automotive repair facilities. With this new collaboration, customers in Orlando will now have acc...

LKQ Europe, a distributor of automotive aftermarket parts, services and solutions across Europe, has recently initiated a centralized workshop concept hub aimed at strengthening the collaboration among its 16 concept brands, according to a press release dated July 26. This move is designed to facilitate the sharing of best practices and resources among LKQ Europe's in-country workshop concept teams and the garages they collaborate with. The company said the ultimate goal is to foste...

Vast-Auto Distribution, a subsidiary of Groupe Del Vasto, a distributor and marketer of automotive parts in Eastern Canada and a shareholder of the Aftermarket Auto Parts Alliance, announced that it has expanded its presence in Newfoundland and Labrador by integrating three new stores into its Parts City Auto Parts chain, according to a press release dated Aug. 16. These stores, formerly operating under Browne's Auto Supplies, are strategically located in Mount Pearl, Newfoundland a...

US-based Aesop Auto Parts, a distributor of automotive parts and accessories founded in 2021 by affiliates of private equity firms Outerbound Capital and American Pacific Group, has announced the addition of Rob Wagman to its board of directors, according to a press release dated Aug. 12. Wagman brings over 30 years of experience in the automotive industry, including his tenure as president and CEO of LKQ Corp. from 2012 to 2017. During his leadership at LKQ, Wagman escalated the company's re...

Motorcar Parts of America (MPA), a US-based remanufacturer, manufacturer and distributor of automotive aftermarket parts, has reported an increase in net sales by 6.4%, reaching $169.9 million, and a gross profit increase of 9.8% to $29.2 million for the fiscal 2025 first-quarter ended June 30, 2024, according to a press release dated Aug. 8. Despite this growth, the company faced an unfavorable noncash $11.1 million foreign exchange loss, affecting its operating results. However, through cos...

Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, has announced that it has successfully completed the acquisition of Elit Polska, a move that significantly enhances its footprint in the Polish automotive aftermarket, according to a press release dated Aug. 1. The acquisition was first announced on May 10, 2024, following an agreement with LKQ Corp., the previous owner of Elit Polska. The acquisition has propelled Meko to become the third-largest e...

Moog Louisville Warehouse, a distributor of automotive parts and supplies in the greater Louisville, Ky., and southern Indiana area, announced that it has officially joined Auto-Wares Group of Companies, an aftermarket automotive distribution company headquartered in Grand Rapids, Mich., according to a press release dated Aug. 5. This partnership represents a significant milestone for both organizations, aimed at capitalizing on their combined strengths for future growth and innovation. The t...

CarParts.com Inc., a US-based eCommerce provider of automotive parts and accessories, has reported results for the second quarter ended June 29, 2024, in a press release dated July 30.  The company reported a decrease in net sales by 18% to $144.3 million. Its gross profit stood at $48.4 million against $60.4 million. Notably, the period saw a substantial net loss of $8.7 million, or $0.15 per share, a significant drop from the previous year's net loss of $0.7 million, or $0.01...

Genuine Parts Co. (GPC), a US-based distributor of automotive and industrial replacement parts, has announced its financial results for the second quarter of 2024, ending June 30, according to a press release dated July 23. The company reported sales of $6.0 billion, marking a slight increase of 0.8% compared to the same period in the previous year. This rise in sales is attributed to a 2.2% benefit from acquisitions, despite a 0.9% decline in comparable sales and a 0.5% adverse impact from f...

CarParts.com Inc., an online provider of automotive parts and accessories, has announced the opening of its new state-of-the-art fulfillment center in Las Vegas, according to a press release dated July 24. The fully automated center integrates state-of-the-art AI capabilities to streamline operations, bolster safety measures, and extend availability of automotive parts and accessories, the company said. This facility is designed to significantly enhance the efficiency of handling both...

Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, has announced that it is significantly enhancing its warehouse capabilities in Poland, a strategic move aimed at bolstering its market presence and facilitating ongoing growth, according to a press release dated July 19. The firm is relocating its central warehouse in Poland to a new facility, nearly double the size of the current one, located in the Warsaw region. The transition to a larger warehouse, s...

GSF Car Parts, a UK-based supplier of car parts to the independent aftermarket, announced the opening of new branches in East Manchester, UK, and Southeast London as part of their ongoing expansion efforts, according to a press release dated July 9 by the UK aftermarket industry body, the Independent Automotive Aftermarket Federation (IAAF). The new Openshaw branch in East Manchester, which covers an area of 4,000 square feet, marked a significant milestone by achieving record-breaking sales ...

Stellantis North America has inaugurated a new Mopar Parts Distribution Centre (PDC) in Brampton, Ontario, Canada, at an investment of C$25.1 million and is set to provide employment for over 170 individuals, according to a press release dated July 9. The PDC, encompassing 513,000 square feet, is designed to serve the Greater Toronto Area, Quebec, and Eastern Canada, housing nearly 55,000 parts and having the capacity to ship up to 2 million orders annually. According to the company, a not...

Diesel Technic UK, a supplier of automotive parts and accessories, has recently made several strategic appointments to its sales team, reflecting the company's ongoing commitment to expanding its customer base in the UK and enhancing support for partners and end-user fleets, according to a press release dated July 9. As part of the move, Luke Winship and Kevin Petrie have been appointed sales managers for the Central region and the North and Northern Ireland region, respectively. These appoin...

Meko (previously Mekonomen Group), an automotive spare parts distributor based in Sweden, has announced its expansion in Estonia through the acquisition of Automeister, a company that includes the established workshop concept Carstop with 14 facilities across the country, according to a press release dated July 8. The company said this move is aimed at increasing market shares and enhancing profitability in the Baltic region. Automeister, founded in 1993, has been operating the Carstop concep...

Highline Warren, a US-based supplier of consumable and maintenance products for the automotive aftermarket, has announced the opening of a new distribution center in Vacaville, Calif., later in 2024, according to a press release dated July 1. In preparation for this expansion, the company is actively hiring for various roles, including equipment operators and administrative clerical assistants, with plans to add operations supervisors, merchandise processors and additional clerical positions ...

The Yokohama Rubber Co. Ltd., based in Hiratsuka, Japan, has announced its plans to construct a new passenger car tire manufacturing facility in Qiantang New District, Hangzhou City, Zhejiang Province, mainland China. This initiative, with an initial annual production target of 9 million tires and a capital investment of approximately 36.7 billion yuan (about $227 million), is set to commence production in the second quarter of 2026, according to a press release dated July 1. This move c...

Forvia Hella has announced a plan to restructure lighting production at its main plant in Lippstadt, Germany, according to a company’s press release on June 26. As part of the plan, the company will focus exclusively on the production of high-margin, advanced headlamps at the plant and relocate production of other lighting systems to its other plants.  This decision is in response to evolving market conditions in Europe, characterized by reduced vehicle production, high costs, and chan...

Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, announced that Michael Løve announced his resignation from the Board of Directors at MEKO to dedicate his efforts entirely to his position as CEO of the Danish energy company OK, according to a press release dated July 2. Løve, who joined MEKO's board in 2020 while also serving as OK's CEO, made this decision following the recent approval by Danish competition authorities of OK's significant investment...

LKQ Corporation has announced that it has successfully concluded negotiations with the trade union Verdi, securing a new collective bargaining agreement that will impact approximately 5,000 of its employees in Germany, according to a press release dated June 21. The agreement includes a specific focus on 730 employees stationed at the LKQ Sulzbach-Rosenberg distribution center. Scheduled to remain effective until April 30, 2026, this two-year agreement introduces a mandatory peace obligation,...

CarParts.com Inc., an online provider of automotive parts and accessories, has announced the launch of its first comprehensive brand marketing campaign in the company's over 25-year history, according to a press release dated June 27. The campaign — titled "Now That's My Speed"— will run across digital and social platforms this summer to enhance brand recognition, drive business growth and establish a competitive advantage in the growing auto parts aftermarket industry. The c...

Fisher Auto Parts, a US-based auto parts distribution network, has announced the opening of a Massachusetts, US, distribution center, according to a press release dated June 19. The company has purchased a 217,000-square-feet distribution center on 12 acres located at 2189 Westover Road in Chicopee, Massachusetts. Equipped with 32 loading docks, the new facility will become operational once it is fully outfitted with features to optimize efficiencies, including logistical and material-handlin...

GSP North America, a manufacturer and distributor in the automotive aftermarket, has announced the appointment of Evan Bauer as director of Key Accounts, according to a press release dated June 24. In this role, Bauer will be responsible for managing and growing key accounts in the retail segment for GSP's lines across North America. Bauer's experience as an aftermarket sales and product management leader brings a wealth of knowledge and expertise to the GSP team, the company said. "G...

ENEOS USA Inc., the US arm of Japanese oil and metals company ENEOS Corp., and Georgia, US-based Mighty Auto Parts have announced a new distribution partnership across the US and in Ontario, according to a press release dated June 10. As part of the partnership, Mighty will stock the ENEOS 0W-8 Motor Oil, ENEOS Import DPS Fluid and ENEOS ECO CVT Fluid. Mighty supports a nationwide network of franchises and company operations located in 44 states and serves more than 15,000 automotiv...

Lithia & Driveway (LAD), an automotive retailer in North America that also provides a suite of financing, leasing, repair and maintenance options, announced that it has expanded its footprint in the US southeast region with the purchase of Sunrise Chevrolet Buick GMC at Collierville and Sunrise Buick GMC at Wolfchase in Memphis, Tenn., and Woodbridge Hyundai in the Greater Toronto area, according to a press release dated June 11. Combined, these newly acquired stores are projected to generat...

Motorcar Parts of America (MPA), a US-based remanufacturer, manufacturer and distributor of automotive aftermarket parts, has announced that it plans to nominate F. Jack Liebau, Jr. for election to the company's board of directors at its 2024 annual shareholders meeting, according to a press release dated June 10. Liebau has nearly 40 years of experience investing in public companies for institutional asset managers such as Primecap Management Co., The Capital Group, Davis Funds and...

FIGIEFA, the Europe-based international federation of independent automotive aftermarket distributors, announced that it has elected a new board of directors during its General Assembly in Istanbul, according to a press release dated May 22. The board comprises professionals from national associations and automotive spare parts distribution companies across Europe. The newly appointed board members are Mads Engberg as president (representing AUTIG from Denmark), Bastian Müller as vice presid...

US-based retailer and distributor of aftermarket automotive parts and accessories, AutoZone, has reported net sales of $4.2 billion for its third quarter ended May 4, 2024, an increase of 3.5% from the third quarter of fiscal 2023, according to a press release dated May 21. For the quarter, net income stood at $651.7 million compared with $647.7 million in the same period last year, while diluted earnings per share increased 7.5% to $36.69. Commenting on the results, “I want to thank and...

NexaMotion Group, a US-based company offering solutions to simplify complex vehicle repair, has announced the opening of a new Transtar Industries distribution center in Tampa, Fla., according to a press release dated May 16. The new location, which opened on May 13, marks a significant step in the company's expansion strategy, the release added. With a spacious new facility spanning 40,000 square feet, Transtar is poised to offer an extended product catalog for foreign and domestic applicati...

LKQ Corp., a Chicago, US-based provider of alternative and specialty parts and services for automobiles and other vehicles, announced in a press release on May 10 that it has entered into a definitive agreement to sell Elit Polska, a Poland-based distributor of automotive parts, consumables and workshop equipment, to Meko. Meko (previously Mekonomen Group) is an automotive spare-parts distributor based in Sweden. The company operates across eight markets through its group brands FTZ, Inter-Te...

Genuine Parts Co. (GPC), a global distributor of automotive and industrial replacement parts, has announced that Paul Donahue will transition from chairman and CEO to executive chairman, effective June 3, according to a press release dated April 29. At that time, William Stengel, currently president and COO, will succeed Donahue as president and CEO of GPC and will serve as a member of the board of directors. "The board is confident that Will is the right person to lead GPC into the future an...

Genuine Parts Co., a global distributor of automotive and industrial replacement parts, has announced an acquisition for its US Automotive business, stating that effective April 30, the company acquired Motor Parts & Equipment Corp. (MPEC), according to a press release dated May 1. MPEC, founded in 1938, is based in Rockford, Ill. It is said to be the largest independent owner of NAPA Auto Parts stores in the US, operating 181 locations across Illinois, Indiana, Iowa, Michigan, Minne...

AllParts, a European cooperative of independent automotive wholesalers, has announced that it is expanding its portfolio of garage networks with the Car Service Partner concept, according to a press release dated April 25. This accessible concept, specially designed to provide support to independent garage owners, began on April 2. Car Service Partner is exclusively available through AllParts wholesalers and was developed in response to the increasing demand from independent garage owners for...

Berlin-based Autodoc SE, an auto parts e-commerce platform, has announced that global alternative asset manager Apollo has led a minority equity investment alongside leading institutional investors at a valuation of €2.3 billion, according to a press release dated May 3. As part of the transaction, two Apollo representatives will join the company’s supervisory board. The funding will support Autodoc’s expansion into the business-to-business sector while strengthening its position in the...

UK-based A1 Motor Stores, an automotive aftermarket buying and distribution group, has announced its partnership with Global One Automotive, an exclusive automotive alliance of trading groups, according to a press release dated April 26. Effective July 1, A1 Motor Stores will become a shareholder of Global One Automotive, marking a significant milestone in its growth strategy. The decision to join Global One Automotive aligns with A1 Motor Stores' commitment to enhance its presence and compet...

O’Reilly Automotive, Inc., a US-based retailer in the automotive aftermarket industry, has announced record revenue and earnings for its first quarter ended March 31, 2024, according to a press release dated Apr. 24. Sales for the first quarter increased $268 million, or 7%, to $3.98 billion from $3.71 billion for the same period one year ago. Operating income increased 5% to $752 million (or 18.9% of sales) from $717 million (or 19.3% of sales) for the same period one year ago. Net income ...

Auto Parts 4 Less Group Inc., a US-based e-commerce automotive parts firm, has announced that its revenue climbed from $48,573 in January 2024 to $102,409 in March 2024, up 111%, according to a press release dated Apr. 17. The company didn’t disclose further revenue details. Christopher Davenport, CEO and Founder of Auto Parts 4 Less Group Inc. stated, "This success is primarily driven through our LiftKits4Less.com platform, which we reactivated just five months ago. Additionally, while our...

Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, announced that it is modernizing its central warehouse in Helsinki with new technology and automated inventory management, according to a press release dated April 12. The renovated warehouse will enhance the efficiency of operations, lead to improved service, and result in sustainably lower costs. The facility is planned to be fully operational in the first half of 2025. Meko is the market leader in the...

Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, announced that its branch and workshop concept BilXtra is broadening its footprint in the Swedish market, according to a press release dated April 15. The company has formed a partnership with Bilam, the owner of five facilities in southern Sweden, with a goal to further boost BilXtra's brand recognition and establish it as a vital addition to Meko's suite of other concepts in Sweden, the release added. ...

GSF Car Parts, a UK-based supplier of car parts to the independent aftermarket, announced that it is offering support to motorists impacted by the cold weather with its extensive range of economically priced rotating electrics, according to a press release dated March 26. Studies conducted by Borg Automotive and Linköbing University show that in 2023, the aftermarket manufacturer sold 60% of all starters and alternators in the UK between the months of October 2022 and March 2023. Much of the...

Alliance Automotive Group (AAG), a European automotive aftermarket distributor, has announced a rebranding initiative that will see its network of over 275 locations come together under the unified banner of NAPA Auto Parts, according to a press release dated Mar. 19. Over the next 12-18 months, it will be aligned with its key parts brand, NAPA to “create a stronger, more globally recognised brand identity”, the release added. This move aims to bridge its subsidiaries under one cohesive b...

Delphi, a brand of PHINIA Inc., has announced the launch of its refreshed website in Spanish and Italian in an effort to strengthen ties with professionals in the automotive and technology sectors, according to a press release dated Mar. 17. The company says the program highlights its ongoing efforts to providing skilled assistance in distributors, technicians’, and workshops' native languages. Delphi’s website overhaul is claimed to offer an intuitive user experience, incorporating advan...

Corteco, a German supplier of components for the independent aftermarket and the independent aftermarket unit of Freudenberg Sealing Technologies (FST), has announced that it has unveiled its new warehouse in Turkey with the aim of further expansion in Southeast Europe, according to a press release dated Mar. 19. Corteco says Turkey is a pivotal market for the company as it hosts many customers from the independent aftermarket in both passenger car and heavy-duty vehicle sectors. With the new...

CARiD.com, a digital commerce platform for the automotive aftermarket specializing in car parts and accessories, has announced the successful closure of a $35 million funding round, according to a press release dated March 7. The funding will fuel further expansion and technological advancements, and enhance customer service capabilities. Founded in 2008, CARiD said it has grown from a startup into one of the most comprehensive and user-friendly platforms for automotive parts and accessories....

Nexus Automotive International (Nexus), a Geneva-based alliance of independent car parts distributors, announced that it has honored Schaeffler Automotive Aftermarket with the NEXUS Growth Accelerator Passenger Cars 2014–2024 Award, according to a press release dated March 15. The award ceremony took place during the NEXUS Business Forum from March 5 to 7, 2024, in Monaco. As an automotive aftermarket network, Nexus recognizes the successful and trusting cooperation with Schaeffler as ...

HL Mando, a South Korea-based global car parts manufacturer specializing in car suspension, announced that it has recently manufactured suspensions for 200 million vehicles, according to a press release dated March 14. The company said it was the first to manufacture automotive suspensions domestically in South Korea in 1972, and the reaching of the 200 million milestone is the result of its supplying car parts to various automobile manufacturers, including Hyundai Motors. There are t...

CarParts.com, a US-based e-commerce provider of automotive parts and accessories, has announced results for the fourth quarter and fiscal year ended Dec. 30, 2023. In a press release dated March 7, 2024, the company reported net sales in fiscal year at $675.7 million, up 2% from $661.6 million in fiscal year 2022. Net loss in fiscal year 2023 was $8.2 million compared to a net loss of $1.0 million in the previous year, the release added. Net sales in the fourth quarter of 2023 was $156.4�...

Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, announced that has strengthened its position in sustainable car glass repairs through a new partnership with ALD Automotive/LeasePlan, a leasing firm for company cars in Sweden, according to a press release dated March 6. The collaboration means that Meko will become a car glass service partner for more than 45,000 vehicles in Sweden. Fixing minor damages in time reduces the need for extensive repai...

Lithia & Driveway (LAD), an automotive retailer in North America that also provides a suite of financing, leasing, repair and maintenance options, announced that it has purchased Carousel Motor Group, growing its footprint in one of the largest markets in the North Central Region, Minneapolis-St. Paul, according to a press release dated Feb. 27. The group, comprised mainly of premium luxury brands, is projected to generate more than $900 million in annualized revenue. "We are excited to e...

Neweast General Trading, a United Arab Emirates-based importer and distributor of aftermarket automotive spare parts, announced that it has partnered with Isuzu Motors, with the opening of a dealership in the Kingdom of Saudi Arabia (KSA), according to a press release dated Feb. 29. This collaboration, symbolized by a Feb. 23 signing ceremony, sets a new standard for innovation and leadership in automotive excellence, the release added. Strategically positioned in the heart of KSA, the Neweas...

Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, announced that its nomination committee has proposed Dominick Zarcone as the new chairman of the board in Meko AB at the Annual General Meeting 2024, according to a press release dated Feb. 19. Zarcone currently serves as the president and CEO of LKQ Corp., listed on the Nasdaq, and has an extensive background with several senior executive roles in major corporations, the release added. According...

O’Reilly Automotive, a US-based automotive aftermarket parts retailer, has announced record revenue and earnings for its fourth quarter and full year (ended Dec. 31, 2023), according to a press release dated Feb. 7. The results represent 31 consecutive years of comparable store sales growth and record revenue and operating income for O’Reilly since becoming a public company in April 1993, the release added.  Sales for the fourth quarter (ended Dec. 31, 2023), increased $188 million, ...

Motorcar Parts of America, a remanufacturer, manufacturer and distributor of automotive aftermarket parts, announced that it has reported results for the third quarter of fiscal year 2024 and nine-months ended Dec. 31, 2023. The performance represented a strong increase in net sales, operating income and cash flow from operating activities, according to a press release dated Feb. 9.  Net sales for the third quarter increased 13.2% to $171.9 million from $151.8 million in the prior year. ...

Syncron, a firm involved in intelligent service life-cycle management solutions, has announced its partnership with Bileko Car Parts AB, a Swedish aftermarket automotive parts distributor and wholesaler, according to a press release dated Jan. 16. Bileko Car Parts has selected Syncron Inventory to optimize parts availability and streamline inventory management throughout its vast network. Syncron Inventory is an essential component of the Syncron Connected Service Experience (CSX) Cloud, an A...

CarParts.com Inc., a leading online retailer of automotive parts and accessories, announced that its board of directors has approved the extension of the company's current $30 million stock repurchase plan to July 26, 2026, according to a press release dated Jan. 22, 2024. The Repurchase Plan was originally set to expire on July 26, 2024. The company believes this extension supports planned approaches to capital deployment to create long-term value for stockholders through...

Australian aftermarket distributor CoolDrive Auto Parts announced that it has expanded its range with new replacement bulbs from Ignite that are produced to original equipment manufacturer specifications to offer superior performance and reliability, according to a press release dated Jan. 16. The bulbs are manufactured on the same production line used for leading vehicle manufacturers, which ensures the highest level of excellence through ISO/IATF quality management systems. Ignite’s headl...

Australian aftermarket distributor CoolDrive Auto Parts has announced that Bremtec Brakes recently introduced a new range of hydraulics, which are now available through CoolDrive Auto Parts, according to a press release dated Jan. 8. The new Trade-Line-branded hydraulics build upon Bremtec Brakes’ trusted reputation of offering reliability and high-quality brake components for efficient and safe braking, the company said. Hydraulics play a crucial role in the functioning of a vehicle’s...

Australian automotive aftermarket parts distributor CoolDrive Auto Parts has announced that it has appointed Gerard Belleville as its new CEO, following John Blanchard's assumption of the role of executive chairman, according to a press release dated Jan. 11. Belleville brings extensive experience in various industry sectors, including 27 years as an audit partner in several chartered accounting firms and 17 years with Deloitte Australia, where he held several leadership roles. Blanchard, ...

Vietnamese electric-vehicle maker VinFast has appointed new dealerships to expand its retail presence in the US, the company announced Jan. 2. VinFast said that it has officially signed agreements with five dealers in four states across the country. The company has plans to further expand its dealership network to 125 outlets across the US in the future. In addition to its newly appointed dealerships, the carmaker currently operates in the US with 13 retail stores and service centers in Calif...

Advance Auto Parts, an automotive aftermarket parts distributor in North America, announced that it has appointed Elizabeth Dreyer as its new senior vice president, controller and chief accounting officer, effective Jan. 9, according to a press release dated Jan. 5.  Dreyer brings over 30 years of accounting and finance experience to the role, having most recently served as chief accounting officer and controller at Amyris Inc., a public biotechnology company. Prior to Amyris, she held v...

Broadleaf Corp., a Japan-based IT solutions provider for automotive aftermarket businesses, and Toyota Mobility Parts have agreed to start a collaboration with the aim of realizing an optimized service for streamlined ordering processes of auto repair parts in the auto aftermarket, according to a press release dated Dec. 11, 2023. Currently, preparations are underway to start providing the service, the release added. Leveraging its advanced IT technology and extensive client network of client...

Sailun, a tire manufacturing company based in China, has announced the establishment of a new factory in Mexico through a joint venture with TD International Holding, according to a press release dated Dec. 20. The move is aimed at focusing on strengthening stability for customers and improving supply efficiency. The new factory will have an annual production capacity of 6 million semisteel radial tires, with a total project investment of $240 million. The JV company is also considering the c...

Global One Automotive, a Germany-based strategic alliance of international automotive aftermarket distributors, announced that it has acquired a new shareholder — a family-owned company, Suder & Suder Sp. z o.o. — who will join the group starting Jan. 1, 2024, according to a press release dated Dec. 22, 2023. Global One has aftermarket distributors from 15 countries worldwide, the release added. Significance: Suder & Suder is one of the largest truck, trailers an...

Denmark-based spare parts logistics provider DANX, part of the Danx Carousel group, announced that it has acquired Forslund & Malmström (FOMAB), a final-mile distribution services provider in Northen Norrland, Sweden, according to a press release dated December 12. The acquisition aims to strengthen DANX's foothold in Sweden through the expansion of its fleet and final mile capabilities. FOMAB specializes in distributing goods to remote areas of Northen Sweden, including Luleå, Gälliva...

Driven Brands Holdings Inc. (Driven Brands), an automotive services company in North America, has announced the launch of Driven Advantage, a new B2B digital marketplace powered by Mirakl Platform, according to a press release dated December 13. The new B2B marketplace connects Driven Brands’ 5,000+ automotive corporate locations, shop owners, franchises, and affiliates with more than 80,000 handpicked products from third-party suppliers, the company said. With Driven Advantage’s one-stop...

Australian automotive aftermarket parts distributor CoolDrive Auto Parts has announced that it has expanded its HULK Professional Series with the addition of lithium batteries, according to a press release dated December 14. The three models available - 100Ah, 100Ah Slimline, and 200Ah - are claimed to offer superior life cycles compared to other brands of lithium batteries and can last up to 60% longer than conventional lead batteries. The advanced Battery Management System (BMS) ensure...

Meko, an independent auto aftermarket company in Northern Europe, has announced that it is optimizing operations in Norway to increase efficiency, strengthen service and reduce emissions from transportations, according to a press release dated Dec. 7. The efforts are estimated to yield annual net savings of at least 66 million Swedish kronor (about $6.31 million) with full effect by 2025, which contributes to permanently improving Meko's profitability, the company said, adding that eff...

Dorman Products has announced that it is releasing 400 new motor vehicle parts in December, representing millions of new sales opportunities for automotive parts distributors, retailers and repair shops, according to a press release dated Dec. 7. This December’s new releases include a Dorman original equipment (OE) Fix-branded exhaust manifold clamp repair kit with coverage for approximately 3 million select aging Ford and Lincoln vehicles. The company said when an exhaust manifold fastener...

US-based Brown & Brown Inc., an insurance brokerage firm delivering risk management solutions, announced that the company has acquired ABS Risk LLC and ABS Operations (collectively: ABS), according to a press release dated Dec. 8. ABS is an administrator of warranty products in the automotive aftermarket providing nationwide parts and labor repair warranties, national road hazard programs and component-specific warranties. The acquisition was made via Brown & Brown Dealer Services (...

LKQ Corporation has announced that it has appointed John Meyne, currently the East Division Vice President of LKQ’s Wholesale – North America segment, to serve as Senior Vice President of LKQ and President of Wholesale – North America effective January 1, 2024, according to a press release dated December 4. Additionally, the company has also appointed Andy Hamilton, currently the Chief Executive Officer of LKQ’s Euro Car Parts business in the United Kingdom and R...

CarParts.com, a US-based e-commerce provider of automotive parts and accessories, has announced the launch of a refreshed content marketing strategy, aimed at enhancing the customer experience, according to a press release dated Nov. 28. The new hub helps consumers learn about their vehicle's maintenance and repair needs; features include links to purchase products directly from the CarParts.com website or mobile app and how-to videos that allow individuals to tackle easy jobs at home. The co...

Motorcar Parts of America, a remanufacturer, manufacturer and distributor of automotive aftermarket parts, announced that it has launched a vendor supply chain financing program designed to enhance payment terms and improve cash flow for both valued vendors and the company, according to a press release dated Nov. 28. The platform will be administered by a leading FinTech company, which services suppliers in more than 80 countries in multiple currencies. Motorcar Parts of America is engag...

US-based distributor of replacement parts, components and systems LKQ Corp. announced that Dominick Zarcone, the company’s current president and CEO, has informed the company’s board of directors of his intention to retire from his role effective June 30, 2024, according to a press release dated Nov. 27. The board has unanimously selected Justin Jude, the company’s current senior vice president and president of its Wholesale — North America segment, to succeed Zarcone as LKQ’s next pre...

ZF Aftermarket, the aftermarket arm of German automotive supplier ZF Friedrichshafen, announced that it has expanded its commercial vehicle distribution center in Guadalajara, Mexico, according to a press release dated Nov. 15. The company had announced in 2022 its intention to significantly grow its commercial vehicle product distribution network in Mexico. As part of the move, it has expanded the Guadalajara center from 10,000 square meters to nearly 15,000 square meters. The hub enables ZF...

Advance Auto Parts, an automotive aftermarket parts distributor in North America, announced that it has appointed Ryan Grimsland as its new executive vice president and CFO, effective Nov. 27, 2023, according to a press release dated Nov. 15. Grimsland brings over 20 years of experience in corporate finance, treasury, financial planning, and retail strategy and transformation. He previously served as senior vice president, strategy and transformation at Lowe's Companies Inc. In addition, the ...

US-based manufacturer and distributor of automotive aftermarket parts, Motorcar Parts of America, has reported record sales for its fiscal 2024 second quarter and six-month period ended Sept. 30, 2023, with record gross profit and strong cash flow from operating activities, according to a press release dated Nov. 9. The company’s net sales for the second quarter increased 14.0% to a record $196.6 million from $172.5 million in the prior year. Net loss for the quarter improved to $2.0 millio...

Advance Auto Parts, an automotive aftermarket parts distributor in North America, has announced its third-quarter financial results on Nov. 15, 2023, highlighting a 2.9% increase in net sales to $2.7 billion compared to the same period last year. The company's gross profit decreased by 16.3% to $1.0 billion, primarily due to a change in inventory reserve estimates and higher product costs that were not fully covered by pricing actions. Selling, General & Administrative (SG&A) expenses...

Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, announced that it has appointed Christer Johansson as its new CFO, according to a press release dated Nov. 15. Johansson brings extensive experience in finance and controlling, having served as vice president of Business Control at battery manufacturer Northvolt and previously as CFO at Hoist Finance, listed on Nasdaq Stockholm. He also has a background in venture development and consulting at McKin...

Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, has announced that it is increasing its focus on the Norwegian market and investing in a new fully automated central warehouse in Oslo, Norway, according to a press release dated Nov. 9. The new facility will consolidate Meko's inventory management in Norway and is expected to provide lasting cost savings and improved service. The warehouse is anticipated to be fully operational by the end of 2025. Meko ...

Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has announced a joint venture with Pirelli, a global tire manufacturer, to build a tire manufacturing facility in Saudi Arabia, according to a press release dated Oct. 26. The facility, which is expected to start production in 2026, will have an annual production capacity of 3.5 million units and will manufacture high-quality tires for passenger vehicles under the Pirelli brand, as well as tires under a new local brand fo...

US-based automotive parts distributor Genuine Parts Co. reported its third-quarter 2023 results, with sales of $5.8 billion, up 2.6% year over year, according to a press release dated October 19. Net income was $351 million, an increase of 12.4%, and the company generated cash flow from operations of $1.1 billion for the first nine months of 2023. The company ended the quarter with $2.2 billion in total liquidity. In terms of segment performance, global Automotive sales were $3.6 billion, up ...

US-based distributor of replacement parts, components and systems LKQ Corp. announced that it has sold GSF Car Parts to Epiris Fund III, a private equity fund based in the UK, according to a press release dated October 25. The company said the divestiture fulfills its obligation to the UK's Competition and Markets Authority to sell the GSF business in connection with LKQ's acquisition of Uni-Select Inc. The terms of the transaction were not disclosed. Significance: Commenting on ...

US-based distributor of replacement parts, components and systems LKQ Corp. has announced that its revenue for the third quarter ending on Sept. 30, 2023, stood at $3.6 billion, up 15.0% compared to $3.1 billion for the third quarter of 2022, according to a press release dated October 26. Total parts and services revenue rose 17.1% year over year. Net income for the third quarter of 2023 was $207 million as compared to $261 million for the same period in 2022, according to the release. ...

Australian aftermarket distributor CoolDrive Auto Parts announced that it has expanded its air-conditioning tools offerings with the latest products from Jayair and Bosch, according to a press release dated October 17. Jayair is a 40-year-old brand in the automotive air-conditioning space with components for both passenger vehicles and heavy-duty applications. The company’s new offerings include an A2L Vacuum Pump, which is a two-stage direct pump suitable for use with A2L refrigerant. With...

Australian automotive aftermarket parts distributor CoolDrive Auto Parts has announced that the brake pads from one of the braking brands that it distributes, Bremtec Brakes, are now manufactured without copper, as part of the company’s move to make its products more environmentally friendly, according to a press release dated October 11. Bremtec Brakes offers a complete range of aftermarket brake products to distributors, technicians, performance professionals and enthusiasts. The range is...

Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, announced that it has divested a warehouse and office property in Denmark to the property manager Hanssen Stagnum A/S, according to a press release dated October 9. The transaction values the premises at approximately €6 million and results in a capital gain of about €4 million, the company said, adding that the deal further strengthens Meko's financial position. The property being sold is located in...

Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, announced that it has appointed Anders Oxelström as the new director of communications, according to a press release dated October 5. With a solid background as a leader in some of Sweden's largest media organizations and years of advising major Swedish publicly traded companies, Oxelström will play an important role in enhancing Meko's communication, according to the announcement, which added that Oxe...

Australia-based automotive parts distributor CoolDrive Auto Parts announced that it has relocated a number of its Queensland, Australia, branches to newer facilities, to allow the company to better serve its customers in the Brisbane and Gold Coast regions in Queensland, according to a press release dated September 28. As part of the rejig, CoolDrive’s Ashmore branch in Gold Coast has relocated to a facility in Yatala, Gold Coast, with ample space to showcase and warehouse CoolDri...

Australia-based automotive parts distributor CoolDrive Auto Parts announced that it has introduced myCOOLMAN products to its range, providing its customers with more options when it comes to portable fridges and freezers, according to a press release dated October 4. MyCOOLMAN is an Australian supplier of fridges and freezers, coolers, iceboxes, insulated covers, drinkware and cooler bags, and its products are aimed at off-road adventures, camping trips, outdoor events and long-distance ...

Standard Motor Products (SMP) announced that its Stabil facility in Germany has received the 2022 Paccar 10 PPM award by Paccar, a global manufacturer of light, medium and heavy-duty trucks, which recognizes suppliers who achieve its 10 PPM quality standard, according to a press release dated October 4. This means that for every 1 million parts and components delivered to Paccar, less than 10 were defective. In addition, suppliers must meet warranty support and continuous improvement criter...