Category Archives: aftermarket

SAE Auction of Unique Roush Mustang Coming to Ford Field

What’s said to be a unique pony car has a custom silver body and graphics, a Roush 5-liter supercharged V8 engine using Ford Racing’s “Aluminator” long block. The engine is rated at 625 horsepower and 540 ft-lbs of torque, numbers you can believe because of SAE standardized test procedures that stopped creative math calculations by performance car marketers. Continue reading

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Michelin Recalls Bus Tires Because Retreads Can Blow Out

Both original equipment and aftermarket bus tires – either new or retreaded – are affected. These tires have a casing that may experience a loss of integrity and, in some cases, have “rapid air loss.” Continue reading

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Honda to Recycle Rare Earth Metals from Nickel-Metal Hydride Batteries in World’s First Mass Production Process

Honda previously had been applying a heat treatment to used nickel-metal hydride batteries and then recycling nickel-containing scrap as a raw material for stainless steel. Now, the successful stabilization of the extraction process at a Japan Metals plant makes possible the extraction of rare earth metals with what’s said to be purity as high as that of newly mined and refined metals. Rare earth metals are in high demand and short supply. Since they are critical for the production of electric motors, demand will grow as the production of hybrids and EVs increase at automakers. Right now China controls 90% of the world’s supply of rare earth metals, and exports are tightly regulated. Continue reading

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Shelby to Show 1,000 Horsepower Mustang in New York

Both of these blatantly irresponsible or politically incorrect pony cars – your choice – are derived from the 2012 Ford Shelby GT500. Shelby American uses Ford Motor Company’s 5.4 liter V8 block, but adds new rods, crank and pistons. The stock Ford supercharger is also replaced, and the cooling and exhaust systems modified to handle the additional demands. Continue reading

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TBC Begins Tender Offer for Shares of Midas at $11.50

The offer appears positive for Midas shareholders since share prices have ranged from a recent 52-week high of, well, $11.50 – raising the distinct possibility of insider trading – to a 52-week low of $5.08. Currently Midas is trading at $11.47. Midas made $0.28 per share during 2011 or $4 million on revenue of $184 million. For this dismal performance, its top executives were compensated $1.7 million, which left no money to pay a dividend to shareholders. Directors and officers of Midas own more than 10% of the stock, which could result in a challenge to the takeover. Continue reading

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Customer Satisfaction with Dealer Service Improves

It seems a shift in the type of work done is largely responsible for the gains. In 2012, 72% of vehicle owners indicate their latest dealer service visit was for maintenance rather than repair, an increase from 63% in 2011. Customer satisfaction with maintenance visits is typically higher than satisfaction with repair visits, since visits for routine maintenance tend to be less expensive and less time-consuming. Continue reading

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Chairman of Taiwan Auto Light Maker Guilty of Price Fixing

Five individuals and four corporations have been charged by the Antitrust Division of the Department of Justice. Continue reading

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U.S. Vehicle Ownership Now at a Record 71 Months

The average length of vehicle ownership that were purchased as new has risen to a record 71.4 months, or nearly six years, according to the latest Polk registration data. Consumers who purchased used vehicles held them nearly 49.9 months. Combined, new and used vehicle owners are holding on to their vehicles for an average 57 months. Continue reading

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U.S. Salvage Firm Links with Chinese Recycler to Export Autos

Chenlong is the first company in China to complete the installation of a shredder built specifically for the processing of scrap steel that includes automobiles coming from the United States. Continue reading

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Mopar Debuts Third Factory Built Hot Rod off Chrysler 300

Still working its muscle car roots, the Mopar 300 has a 363 horsepower (hum the Charger was 370?) 5.7-liter Hemi V8 engine and a now dated five-speed automatic transmission. A change from a 3.06:1 to a 3.91:1 final-drive means zero-to-60 mph times in the low 5-second range, according to Chrysler, same as the Charger. Continue reading

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Pep Boys Sold to The Gores Group for $800 Million

The proposed transaction has already interested at least one legal firm trolling for business. Tripp Levy, a securities law firm, immediately put out a notice to investors that there are “potential claims of breaches of fiduciary duty and other violations of state law” against the board of directors of Pep Boys in connection with the sale. There likely will be more such allegations from firms looking to garner legal fees.

However, the agreement does provide for a 45-day “go-shop” period and contains customary closing conditions, including receiving the approval of Pep Boys’ shareholders and all applicable regulatory approvals. A special meeting of Pep Boys’ shareholders will be held following the filing of a definitive proxy statement with the U.S. Securities and Exchange Commission. Continue reading

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Average Age of U.S. Vehicles Reaches Record High

Perhaps more significantly for automakers, 2011 ended the U.S. vehicle population decline that has occurred annually since 2008. This worrisome trend meant households were decreasing the number of vehicles. According to Polk, the total vehicles in operation – VIO – in July 2011 was just over 240.5 million, an increase of 500,000 units over July in the previous year, and nearly equal to 2009 VIO. The highest VIO on record was achieved in July 2008, when more than 242 million passenger cars and light trucks were on America’s roads. The financial markets collapsed that fall. Continue reading

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Midas Sued in Europe for Breach of Contract

The unwelcome development for Midas shareholders comes as the Midas board of directors is exploring the possible sale of the company during an ongoing strategic review. Share prices have ranged from a 52-week high of $9.50 to a 52-week low of $5.08. Currently Midas is trading at $8.46. Midas during the first nine months of 2011 had net earnings of $4.4 million ($0.32 per diluted share), an increase from $2.3 million or $0.17 per diluted share in 2010. Midas pays no dividend. Continue reading

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Right to Repair on Massachusetts Ballot. National Bill Stalled

A similar national measure, the Motor Vehicle Owners’ Right to Repair Act (H.R. 1449), died from inaction in the 2011 U.S. Congress. Various forms of Right to Repair bills have been tied up in successive Congresses since 2002. It is not surprising that the National Association of Automobile Dealers opposes the legislation. NADA says that automakers provide emissions service and some other data available to any technician who needs it already. Continue reading

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The Top Stolen Cadillac Escalade Has New Antitheft Devices

Cadillac Escalade is more than 6 times as likely as the average vehicle to be targeted by thieves and has overall theft losses more than 10 times as big, according the Highway Loss Data Institute – HLDI. So little wonder that Cadillac in a release today is touting what it claims are new security enhancements developed to thwart thieves on Escalade models. Continue reading

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