Filters
Your Selections
    Asset
    Published
    Domain
    Topical Categories
    Company
    Region / Country/Territory
    US-based NexaMotion Group announces new Transtar distribution center in Florida
    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 to sell Polish distributor Elit Polska to Swedish distributor Meko
    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. announces CEO transition
    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. acquires US-based Motor Parts & Equipment Corp.
    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...
    Automotive wholesalers group AllParts launches Car Service Partner garage concept
    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...
    Germany-based Autodoc announces minority investment by Apollo Funds
    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...
    Automotive retailer Lithia & Driveway says Q1 2024 revenue $8.6 billion, up 23% YOY
    Lithia & Driveway (LAD), an automotive retailer in North America that also provides a suite of financing, leasing, repair and maintenance options, announced that its first quarter 2024 revenue increased 23% to $8.6 billion from $7.0 billion in the first quarter of 2023, according to a press release dated April 24. The company’s net income for the first quarter was $165 million, a 28% decrease compared to net income of $230 million in the same period of 2023. In terms of quarter-over-...
    UK-based A1 Motor Stores joins international trading group Global One Automotive
    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. says Q1 2024 sales at $3.98 billion, up 7% YOY
    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. reports revenue growth in Q1 2024
    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 automates and streamlines the central warehouse in Finland
    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 accelerates expansion of its BilXtra brand in Sweden
    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. ...
    UK-based GSF Car Parts outlines range of rotating electrics
    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’s locations to come under the NAPA Auto Parts brand
    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 expands online presence with Spanish and Italian site launch
    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...
    Freudenberg-owned Corteco opens warehouse in Turkey
    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...
    US ecommerce platform CARiD.com secures $35 million in funding
    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 recognizes Schaeffler as growth accelerator within the Nexus network
    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 reaches milestone of making suspensions for over 200 million vehicles
    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 says its 2023 sales of $676 million, up 2% YOY, is its highest ever
    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 partners with ALD Automotive/LeasePlan for glass repairs
    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...
    Automotive retailer Lithia & Driveway acquires Carousel Motor Group
    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...
    UAE based-Neweast General Trading and Isuzu announce partnership
    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’s nomination committee proposes Dominick Zarcone as new chairman of the board
    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 reports Q4 2023 sales at $3.83 billion, up 5% YOY
    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 reported Q3 FY 2024 net sales at $171.9 million up 13.2% YOY
    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. ...
    Bileko Car Parts partners with life-cycle management solution provider Syncron
    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 announces extension of $30 million repurchase plan
    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...
    Australia’s CoolDrive expands Ignite range of headlight replacement bulbs
    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...
    CoolDrive Auto Parts announces expansion of Bremtec Brakes hydraulics range
    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 distributor CoolDrive appoints Gerard Belleville as CEO
    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, ...
    VinFast appoints new dealerships to expand retail presence in the US
    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...
    Elizabeth Dreyer appointed as Advance Auto Parts' new chief accounting officer
    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...
    Japanese aftermarket IT services provider Broadleaf partners with Toyota Mobility Parts
    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...
    China's Sailun tire establishes new factory in Mexico
    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...
    German aftermarket distributor Global One Automotive gets a new shareholder
    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...
    Spare parts logistics player DANX expands in Sweden with acquisition of FOMAB
    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...
    US-based Driven Brands launches B2B digital marketplace for workshops
    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...
    Australia's Cooldrive expands range with lithium batteries for heavy-duty applications
    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 optimizes operations in Norway for increased efficiency and better service
    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 expands range with 400 vehicle parts
    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 acquires Automotive Business Solutions
    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 Corp. announces new leadership appointments
    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 launches revamped content marketing strategy
    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 launches vendor supply chain financing program
    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...
    LKQ says Justin Jude to succeed Dominick Zarcone as CEO
    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 expands commercial vehicle distribution center in Guadalajara, Mexico
    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 names Ryan Grimsland as new CFO
    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 ...
    Motorcar Parts of America says Q2 2024 sales at $196.6M, up 14% YOY
    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 reports Q3 net sales at $2.7 billion, up 2.9%
    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 names Christer Johansson as new CFO to lead financial strategy
    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 invests in a new high-technology warehouse in Norway
    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 ...
    PIF, Saudi Arabia's sovereign wealth fund, partners with Pirelli to build tire factory in Saudi Arabia
    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...
    Genuine Parts Co. reports Q3 2023 sales at $5.8 billion, up 2.6% YOY
    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 ...
    LKQ sells GSF car parts to UK Private Equity Fund
    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 ...
    LKQ says Q3 2023 revenue at $3.6 billion, up 15% YOY
    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. ...
    CoolDrive expands air-con range with new Jayair and Bosch offerings
    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 distributor CoolDrive says Bremtec brake pads now copper-free
    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 announces capital gain of €4 million through Denmark property sale
    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...
    Sweden’s Meko appoints new director of communication
    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...
    Australian distributor CoolDrive announces relocation of facilities
    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’s CoolDrive adds myCOOLMAN products to its range
    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 ...
    SMP’s German facility receives quality standard award
    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...
    South Korea’s SK Networks-owned Speedmate partners for vehicle detailing service
    SK Networks, a subsidiary of South Korean petroleum conglomerate SK Group, engaged in the businesses of energy and information technology distribution as well as car rental, announced that Speedmate, its all-inclusive car care brand, has launched car detailing services with the German premium brand Sonax Car-care, according to a press release dated September 5. Speedmate announced that it had opened a "car servicing/detailing multi-shop" at the Ikea Goyang store with Alles, the loca...
    US automotive parts retailer AutoZone appoints new COO
    US-based retailer of aftermarket automotive parts and accessories AutoZone has announced that Tom Newbern, currently executive vice president of Operations, Sales and Technology, has been promoted to COO, according to a press release dated September 18. Additionally, Jamere Jackson, current CFO and executive vice president of Finance and Store Development, has been promoted as CFO where he will continue to lead the Finance and Store Development teams, according to the release, which added tha...
    Alliance Automotive Group UK acquires Tayna
    Alliance Automotive Group UK (AAG) has announced the acquisition of Tayna Ltd., a Welsh e-commerce platform focused on vehicle batteries, according to a press release dated September 1. The company said that with this acquisition, it aims to expand its battery distribution capabilities in the region. The acquisition would also allow it to develop its digital skill set in the long term.  Tayna, a digital e-commerce company based out of Wales, UK, and established in 2003, specializes in pr...
    Anand Group of India and South Korea’s HL Group form JV to increase aftermarket portfolio in India and globally
    Indian automotive components manufacturer Anand Group has announced the formation of a joint venture with South Korea’s HL Group, with the aim of doubling the former’s aftermarket business in the domestic market while at the same time also expanding the latter’s presence in the country, according to a press release dated September 13. The JV company, HL Anand Automotive Parts Pvt. Ltd., is expected to establish two dedicated distribution centers in the next two years and add about 1,200...
    Lumileds launches Philips Ultinon Access automotive headlight bulbs
    Lumileds, a global supplier of original equipment manufacturer and aftermarket automotive lighting and accessories, announced the launch of the new Philips Ultinon Access range of automotive headlight bulbs that enables the shift from halogen to LED, according to a press release dated September 4. The company said it has made installation of the bulbs simple as there is no need for compatibility checks or adapter rings. The Philips Ultinon Access LED bulbs have a compact body and their direct...
    Automotive retailer Lithia & Driveway acquires UK’s Arden Motors
    Lithia & Driveway, an automotive retailer in North America that also provides a suite of financing, leasing, repair and maintenance options, announced the acquisition of the Arden businesses representing BMW, MINI and Motorrad in Maidstone and Tunbridge Wells, according to a press release dated September 1. Commenting on the acquisition, Neil Williamson, Regional President, United Kingdom, said, “Following LAD’s entrance into the UK with the Jardine Motors Group earlier this year, we ...
    Chery enters into a distribution partnership with Oman’s Saud Bahwan Group
    Chinese automaker Chery Automobile has signed a distribution agreement with Oman’s Saud Bahwan Group, according to a press release dated September 5. Under the partnership, Chery Automobile aims to further expand its overseas sales network and also promote localized operations with the help of the Saud Bahwan Group’s experience. In the future, Saud Bahwan Group will establish Chery showrooms and after-sales service agencies in major cities in Oman, the release added. Significance: “C...
    UK-based online parts supplier PartsInMotion expands range with Mahle products
    Online parts supplier PartsInMotion.co.uk announced that it has added Mahle Aftermarket’s air-conditioning product range to its product portfolio, according to a press release dated August 7 by the UK aftermarket industry body, the Independent Automotive Aftermarket Federation (IAAF). Significance: PartsInMotion said it has launched 461 new Mahle references in its product categories, including evaporators, compressors, condensers and blowers. Mahle Aftermarket has manufactured more ...
    Advance Auto Parts says Q2 2023 sales $2.7 billion, up 0.8% YOY
    Advance Auto Parts, an automotive aftermarket parts distributor in North America, announced that for the second quarter ended July 15, 2023, its net sales stood at $2.7 billion, up 0.8% compared with the second quarter of the prior year, primarily driven by new store openings, according to a press release dated August 23. The growth was partially offset by a decline of comparable store sales of 0.6%. The company's operating income was $134.4 million, or 5.0% of net sales, compared with 7.6% i...
    US-based Advance Auto Parts appoints Shane O’Kelly as president and CEO
    Advance Auto Parts, an automotive aftermarket parts distributor in North America that serves both professional installer and do-it-yourself customers, announced that its board of directors has appointed Shane O’Kelly as president and CEO, effective September 11. O’Kelly will succeed Tom Greco, who has served as president and CEO since April 2016. Greco announced his planned retirement in February 2023 and will stay on as an advisor to ensure a seamless transition. The company announced th...
    Tire distributor U.S. AutoForce acquires Pacific Tire Distributors
    U.S. AutoForce, a distributor of tires, undercar parts and lubricants to the automotive aftermarket, has announced that it will acquire Pacific Tire Distributors, headquartered in Portland, Ore., according to a press release dated August 22. The acquisition is expected to close on Sept. 11, 2023, the release added. Founded in 2004, Pacific Tire Distributors is one of the largest independently owned wholesale tire distributors in the Pacific Northwest. Based in Portland, it currently oper...
    Schaeffler to acquire India’s aftersales B2B e-commerce platform Koovers
    Schaeffler India Ltd., a subsidiary of Schaeffler AG, announced that it has acquired KRSV Innovative Auto Solutions Pvt. Ltd. (KRSV), a Bengaluru, India-based company that offers repair solutions to Indian aftermarket workshops via its business-to-business e-commerce platform Koovers, according to a press release dated August 28. Schaeffler said Koovers is an ideal addition to its automotive aftermarket activities in India and will be a key addition to the aftermarket ecosystem — ...
    Sweden’s Meko ties up with Malte Månson Verkstäder for heavy-vehicle service
    Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, announced that it is expanding its focus on heavy vehicles through a new strategic collaboration that makes it a supplier to Sweden's largest independent workshop chain for trucks, Malte Månson Verkstäder, according to a press release dated August 23. Malte Månson Verkstäder is the largest Swedish independent service chain for trucks with 17 workshops. The company is in an expansion phase with organi...
    Canadian auto parts distributor Vast-Auto expands footprint
    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 acquired the assets of Pièces d’Autos Victo, Freins Démarreurs Plessis and Pièces d’Autos Thetford, an auto parts wholesalers group located in south-central Quebec, according to a press release dated August 14. Normand Roy, founder of the Quebec-based wholesaler, said he was deligh...
    Tenneco-owned Rancho launches new website
    US-based automotive components and systems supplier Tenneco said that its performance suspension and shocks brand Rancho has announced the launch of its enhanced website, which features streamlined navigation, according to a press release dated August 22. Some key features of the new site include a mobile-first design, improved parts search, enhanced where-to-buy, detailed product information, product reviews, expanded purchasing options and technical tools, among others. Significance: The...
    Eaton renames Vehicle Group and eMobility businesses to Mobility Group
    Power-management firm Eaton has announced that its Vehicle Group and eMobility businesses will be called Mobility Group, according to a press release dated August 15. The name represents the company’s focus on providing solutions across the propulsion spectrum and meeting the evolving needs of its customers from internal combustion to electrified, or a combination of both. Eaton will continue to offer traditional powertrain solutions as manufacturers and the industry determine optimal propu...
    UK used car market grows 4.1% to 1.8 million units in Q2 2023
    UK automotive trade body Society of Motor Manufacturers and Traders (SMMT) has announced that the UK’s used car market rose by 4.1% during the second quarter of 2023, with 1,832,267 units changing hands, according to a press release dated August 9. The increase equates to an additional 72,583 transactions compared with the same period in 2022, reflecting sustained growth in the new car market and improving availability, the release added. SMMT believes easing supply chain disruptions h...
    India’s Maruti Suzuki says its pre-owned car vertical touches 5 million sales
    India’s largest automaker Maruti Suzuki has announced that its pre-owned car brand, Maruti Suzuki True Value, has achieved a landmark milestone of selling 5 million pre-owned cars, according to a press release dated August 9. Introduced in 2001, True Value is a one-stop destination to buy and sell quality pre-owned cars. Maruti Suzuki True Value offers a systematic integration of technology and industry experience to make the whole process of buying and selling cars transparent and convenie...
    Standard Motor Products launches 207 new part numbers in July
    Standard Motor Products (SMP), an automotive parts manufacturer and distributor, announced that it has released 207 new part numbers in its July new product announcement, according to a press release dated July 26. The product release provides new coverage in 71 different product categories, and 78 part numbers for 2022 and 2023 model-year vehicles, the company said. The company’s Standard and Four Seasons brands continue to expand coverage for hybrid and electric vehicles. A door handle re...
    Standard Motor Products reports Q2 2023 sales at $353.1 million, down 1.7% YOY
    Standard Motor Products, an automotive parts manufacturer and distributor, has announced its consolidated financial results for the three and six months ended June 30, 2023, according to a press release dated August 2. The company’s net sales for the second quarter of 2023 were $353.1 million, compared to consolidated net sales of $359.4 million during the comparable quarter in 2022. Consolidated net sales for the six months ended June 30, 2023, were $681.1 million, compared to $682.2 million ...
    Alliance Automotive acquires Spanish spares distributor Gaudi
    Alliance Automotive Group (AAG), a European automotive aftermarket distributor, announced that it has acquired Spanish spares distributor Recambios y Accesorios Gaudí SL (Gaudi), according to a press release dated August 3. This acquisition confirms Alliance Automotive Iberia’s strategic foothold in the automotive aftermarket, previously represented by Lausan in Spain, and Soulima in Portugal, the release added. Gaudi is a company specialized in the independent distribution of spare p...
    Ireland distributor Serfac reveals its comprehensive braking range
    Ireland-based automotive aftermarket player, Serfac Ltd., has announced that it offers an extensive range of quality braking components from top brands at great prices, providing aftermarket retailers with a wide choice and an extremely competitive sales proposition, according to a press release dated July 18. The company is a distributor of several braking brands such as Borg & Beck, Brembo, Blue Print and Febi, and is well-positioned to cover any braking order, the release added. Althou...
    US-based Advance Auto Parts comments on TRC Capital’s mini-tender offer
    Advance Auto Parts, an automotive aftermarket parts distributor in North America that serves both professional installer and do-it-yourself customers, announced that it was notified that TRC Capital Investment Corp. (TRC) has made an unsolicited “mini-tender” offer to purchase up to 1,000,000 shares of Advance Auto Parts stock, according to a press release dated July 17. The company said the offer was made at $65.75 per share, or 4.43% below the closing price of the company’s stock on J...
    Ireland’s Serfac says it has begun stocking hybrid lubricants from Wolf
    Ireland-based automotive aftermarket player, Serfac, has announced that it is now stocking the latest lubricants for hybrid vehicles from Wolf Lubricants, according to a press release dated July 18. Wolf’s Hybrid Range currently includes 45 products for hybrid vehicles, including eight specialty engine oils that offer a 100% coverage of the hybrid car parc, the release added. Serfac believes as a result of rising fuel prices and environmental concerns, the hybrid vehicle market is now thriv...
    Motorcar Parts of America expands brake pads and rotors range
    US-based manufacturer and distributor of automotive aftermarket parts, Motorcar Parts of America announced that it recently added more than 50 new late-model vehicle brake pad and rotor part number applications to its catalog, according to a press release dated July 18. Significance: The company said the new parts provided additional coverage for more than 5 million vehicles. The new part numbers are available to the professional installer market through the company’s Quality-Built and...
    US-based Parts iD announces new financing
    Parts iD, a US-based e-commerce company for automotive parts, accessories and the aftermarket, announced two new funding agreements that deliver $7 million in immediate proceeds to the company, according to a press release dated July 17. The company is the owner and operator of, among other verticals, “CARiD.com,” a leading digital commerce platform for the automotive aftermarket. The first funding agreement is a $3.75 million investment by Lind Global Partners II LP, an investm...
    LKQ Europe and Mobivia announce strategic partnership
    LKQ Europe, a distributor of automotive aftermarket parts, and Mobivia, Europe’s largest independent provider of automotive maintenance and repair services, have entered into a strategic partnership for the delivery of automotive parts for Mobivia’s ATU branches across Germany, as well as for optimizing the logistics process, according to a press release dated June 29. Mobivia’s ATU centers are a combination of workshops and integrated shops offering a range of accessories, spare parts ...
    Swedish part distributor KGK ties up with vehicle retailer Veho Bil
    KG Knutsson AB (KGK), a Swedish wholesaler and distributor of motor vehicle parts, has announced a tie-up with Veho Bil AB, a Swedish vehicle dealer and the largest dealer of Mercedes-Benz in the Nordic region, according to a press release dated June 27. Under the agreement, KGK becomes a supplier of materials and equipment to Veho Bil's nine branches in Sweden. The tie-up aims at enabling Veho Bil to cut down on the number of suppliers by using KGK's broad product catalog for several differe...
    Australian distributor Multispares joins Temot International
    Temot International, a Germany-based automotive spare parts network, has announced that Multispares, a distributor based in Australia and New Zealand that serves over 20,000 customers, has joined the international trading group as a member, according to a press release dated July 6. Multispares Ltd. and Multispares NZ Ltd. are wholly owned subsidiaries of Supply Network Ltd., which is listed on the Australian Stock Exchange. Since its opening in 1976, the company has specialized in spare part...
    BorgWarner Announces Completion of PHINIA Spin-Off
    “A tremendous amount of work has gone into bringing us to where we are today,” said Frédéric Lissalde, President and Chief Executive Officer, BorgWarner Inc. Two years ago, BorgWarner announced Charging Forward, the company’s strategy to accelerate its transition to electrification. That strategy included the disposition of $3B to $4B in combustion-related revenue by 2025. The completion of the spin-off of PHINIA combined with the 2022 sale of the North American controls business repr...
    US aftermarket retailer AutoZone names new CEO
    US-based retailer of aftermarket automotive parts and accessories AutoZone has announced that Bill Rhodes will relinquish his position as President and Chief Executive Officer (CEO) effective January 2024 and become Executive Chairman of the Board, according to a press release dated 26 June. The company has selected Philip Daniele, who has spent 29 years at AutoZone and is currently the Executive Vice President Merchandising, Marketing and Supply Chain, to succeed Rhodes as CEO. Rhodes has be...
    Bentley Motors expands its retail network in Switzerland
    Bentley Motors announced the expansion of its retail network in Switzerland with the opening of the Bentley Lugano showroom in the southern Canton of Ticino region, according to a press release dated June 23. Bentley Lugano is Bentley’s fifth retail partner in Switzerland after Bentley Basel, Bentley Geneva, Bentley Zug and Bentley Zurich. The location combines a 450-square-meters showroom with a shared workshop facility that offers three vehicle lifts dedicated to Bentley custome...
    Australia’s CoolDrive becomes exclusive distributor of Max Papis Innovations
    Australia-based automotive parts distributor CoolDrive Auto Parts has announced that it has partnered with Max Papis Innovations (MPI) to be its exclusive distributor in Australia and New Zealand, according to a press release dated June 28.  The MPI range consists of performance and racing products including steering wheels for vehicles such as circuit, drag, dirt, stock car, speedway as well as other specialty items. This new supply partnership is the first time MPI products will be ava...
    French automotive trade body FIEV adds 10 new members
    FIEV, or the French trade association of OEMs, garage equipment manufacturers, and all other providers of automotive solutions, has announced the addition of ten new members, according to a press release dated 23 June. They include Acerta, Ateq, Borgwarner, Carmoov Energy, Daf Conseil, Mann Hummel Filtration, Muller Automotive, Provac, RAV France and Qwello. Acerta provides OEMs and automotive manufacturers with a predictive quality solution to reduce scrap rates, improve defect detectio...
    Sweden’s Meko says rising electricity costs deterring EV purchase
    Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, announced that its Mobility Barometer 2023 survey has revealed that rising electricity prices have slowed down the desire for electric cars, according to a press release dated May 29. The second annual Mobility Barometer conducted by Meko surveyed around 4,000 people in Sweden, Norway, Denmark and Finland on their habits and needs regarding mobility. The survey revealed Swedish car drivers were most affe...
    Standard Motor Products releases 156 new part numbers for June
    US-based independent manufacturer and distributor of automotive replacement parts, Standard Motor Products (SMP), announced the release of 156 new part numbers in its June product-expansion announcement, according to a press release dated June 21. This release provides new coverage in 61 different product categories, and 43 part numbers for 2022 and 2023 model year vehicles, the release added. The company’s advanced driver assistance systems (ADAS) and collision-repair programs saw the addi...
    FedEx Express Canada introduces 50 EVs into its delivery fleet
    FedEx Express Canada announced that it has introduced its first 50 units of Zevo 600 electric delivery vehicles from BrightDrop, General Motors’ (GM’s) commercial-delivery arm, according to a press release dated June 14. The company said the introduction of BrightDrop’s electric vans into the FedEx fleet in Canada is an important step in the company’s goal to transform its entire parcel pickup and delivery (PUD) fleet to all-electric, zero-tailpipe emissions vehicles by...
    loading
    preload preload preload preload preload preload