One in four suppliers is bracing for a loss-making 2026, the Spring 2026 edition of the European Association of Automotive Suppliers' (Comité de Liaison Européen des Fabricants d'Equipements et de Pièces Automobiles [CLEPA]) Pulse Check survey shows. With a growing share of companies expecting losses, the data shows an emergency shift toward non-automotive sectors as a temporary measure to maintain industrial capacity during one of the most volatile periods in the sector’s history...

Premium Guard Inc. (PGI), an automotive manufacturer and supplier, announced that it has signed an agreement to acquire key intellectual property (IP) and related assets from First Brands Group.  The Group filed for Chapter 11 bankruptcy protection in September 2025 and, in January 2026, announced the wind-down of specific North American operations, including its Brake Parts Inc., Cardone and Autolite brands. In its company overview, PGI describes itself as a developer and supplier ...

Italy-based National Association of the Automotive Industry Supply Chain (Associazione Nazionale Filiera Industria Automobilistica [ANFIA]) announced that its Aftermarket Barometer, a statistical survey within the ANFIA Components Group, has revealed that the aftermarket turnover of the association’s group companies decline 1.3% in 2025 compared to 2024. In 2024, turnover had risen 2.4% compared to 2023. While the decline in turnover of automotive spare parts is small, with the first half o...

Valeo reported better-than-expected financial results in the financial year ended Dec. 31, 2025. Sales declined 2.7% year over year to €20.9 billion. However, on a like-for-like basis, sales improved 0.5%. Despite lower sales, operating income increased 6% year over year to €977 million, resulting in an improved operating margin of 4.7% compared to 4.3% in 2024. Net income increased 23% year over year to €200 million. Valeo reported 8% year-over-year growth in adjusted EBITDA to €3 bi...

Continental’s sales declined 2% year over year to €19.7 billion in the financial year ended Dec. 31, 2025. Full-year sales, excluding exchange-rate effects and changes in the scope of consolidation, increased 0.8% year over year. Lower sales impacted the Germany-based company’s earnings, with EBITDA falling 41.1% year over year to €1.9 billion, while earnings before interest and taxes witnessed an even sharper decline of 86.7% year over year to €272 m...

US-based retailer and distributor of aftermarket automotive parts and accessories, AutoZone, has reported net sales of $4.3 billion for its second quarter ended Feb. 14, 2026, marking an 8.1% increase from the previous year's same period. Same-store sales grew domestically by 3.4%, while international sales increased by 17.1% in constant currency terms, leading to a total growth of 5.2%. Operating profit decreased 1.2% to $698.5 million. Net income for the quarter was $468.9 million...

US aftermarket supplier Dorman Products Inc. has reported its financial results for the fourth quarter and full year ending Dec. 31, 2025. For the full year of 2025, net sales increased by 6.0% year over year to $2.13 billion. Gross profit for the year was up to $897.7 million compared to $806.4 million, or 40.1% of net sales, in the prior year. Yearly Selling, General and Administrative (SG&A) expenses grew slightly, as did adjusted SG&A expenses. Diluted earnings per sha...

The Schaeffler Group announced in its financial results for 2025 that its Vehicle Lifetime Solutions (VLS) division, which caters to the aftermarket, reported revenue of €3 billion, up 2.6% year over year. Earnings before financial result and income taxes (EBIT) before special items were €450 million (pro forma prior year: €440 million). The EBIT margin before special items was 14.8%, flat compared to the prior year on a pro-forma basis, "with an adverse impact of the revenue ...

LKQ Corp., a Chicago-based provider of alternative and specialty parts and services for automobiles and other vehicles, announced that in the fourth quarter of 2025, its revenue was $3.3 billion, up 2.7% from the previous year. However, net income dropped to $75 million from $151 million in 2024, with diluted earnings per share decreasing by 50% to $0.58.  Total parts and services revenue during the quarter increased 2.2%, which included a 3.7% increase from foreign exchange rates year o...

US-based automotive parts distributor Genuine Parts Co. (GPC) has announced its financial results for the fourth quarter and the full year, which ended Dec. 31, 2025. Sales for the year were $24.3 billion, up 3.5% from 2024. Net income for the 12 months was $66 million, or $0.47 per diluted share, as against net income of $904 million, or $6.47 per diluted share in the prior year.  In the fourth quarter of 2025, sales increased by 4.1% to $6 billion, dr...

Castrol India Ltd. reported its highest-ever annual revenue for fiscal year 2025, driven by sustained volume growth over eight consecutive quarters, the expansion of its industrial business, and deeper penetration into rural markets. The company's revenue from operations increased 7% year over year to 57 billion rupees, with EBITDA rising 5% to 13.48 billion rupees. Volume growth was recorded at 8%, led by the core automotive lubricants business and an expanded distribution network. In the...

First Brands Group, which filed for bankruptcy protection in September 2025, has announced the initiation of a sale process to market and sell its business, either as a whole or in parts. This sale process aims to facilitate the company's transition to new ownership and its emergence from the recent Chapter 11 cases. The company is in discussions with an ad hoc group of lenders for further debtor-in-possession financing and to act as the stalking horse bidder for certain segments of the busin...

ZF Group has agreed to sell its Advanced Driver Assistance Systems business to US-based in-cabin electronics specialist Harman International Inc. in a deal valued at €1.5 billion. The transaction, subject to regulatory approvals, marks a key milestone in ZF’s ongoing strategic realignment. ZF CEO Mathias Miedreich said the divestment allows the group to sharpen its focus on core technologies where it holds global leadership positions, including chassis systems, powertrain solutions, ...

Battery-electric vehicle (BEV) drivers in the UK could face a new tax as the UK government aims for a fairer system for all drivers. A BBC report quoted a government spokesperson saying: "Fuel duty covers petrol and diesel, but there's no equivalent for electric vehicles. We want a fairer system for all drivers." UK Chancellor of the Exchequer Rachel Reeves is said to be planning to announce a new pay-per-mile charge for BEVs in the upcoming budget. Citing an article that appeared i...

Advance Auto Parts Inc., an automotive aftermarket parts provider in North America that serves both professional installers and do-it-yourself customers, announced that in the third quarter ending Oct. 4, 2025, it reported net sales of $2.0 billion, slightly down 5% from $2.1 billion in the previous year but with a 3.0% increase in comparable store sales. The gross profit for the quarter was $881 million, a marginally lower figure compared to $908 million in the previous year. As a percentage...

Phinia, the spinoff company of Michigan, US-based powertrain technologies supplier BorgWarner's fuel systems and aftermarket segments, reported net sales for the third quarter ended Sept. 30, 2025, at $908 million, up 8.2% from the same period in 2024. However, net earnings fell by $18 million to $13 million due to a one-time loss related to separation claims, resulting in a net margin decrease of 230 basis points to 1.4%, the company stated in a press release. Separation-related costs primar...

Waymo announced that it will introduce a commercial robo-taxi service in London by 2026, marking its second international expansion after Tokyo, according to a report published by TechCrunch on Oct. 14. This move follows recent job postings in London and builds on Waymo's 2019 acquisition of Latent Logic, a UK startup specializing in imitation learning for self-driving simulations. As part of this expansion, Waymo plans to deploy its all-electric Jaguar I-Pace vehicles equipped with self-driv...

German chemical company BASF has reached an agreement with Carlyle, a global investment firm, and Qatar Investment Authority (QIA) to sell its Coatings division. The division includes BASF's automotive original equipment manufacturer coatings, automotive refinish coatings and surface treatment businesses. Upon closing of the transaction, Coatings will operate as a stand-alone entity. The transaction is valued at €7.7 billion and is expected to be finalized by the second quarter of 2026...

First Brands, the Ohio, US-based automotive-parts maker owned by Patrick James, has filed for Chapter 11 bankruptcy protection, weighed down by debt from years of acquisition-driven expansion and mounting financial strain. The filing, made in the Southern District of Texas, lists liabilities of more than $10 billion against assets of $1 billion-$10 billion. The company has secured $1.1 billion in debtor-in-possession financing from first-lien lenders to maintain operations, stressing that the...

NING Service, an aftermarket brand under CATL, has expanded its footprint with the opening of an experience center in Shanghai and the first overseas store in Bangkok. The brand focuses on battery maintenance technology and a comprehensive battery life-cycle system, aiming to address challenges faced by new-energy vehicle consumers. NING Service recently completed one year of operations, and the move also marked 10 years of CATL's Aftersales business. Originally established in 2015 ...

Dorman Products, a US-based aftermarket supplier, has announced that in the second quarter ended June 28, 2025, its net sales stood at $541.0 million, up 7.6% compared to net sales of $503.0 million in the second quarter of 2024. Gross profit was $219.5 million, or 40.6% of net sales, compared to $199.4 million, or 39.6% of net sales, in the same quarter last year. Selling, general and administrative (SG&A) expenses were $137.0 million, or 25.3% of net sales, compared to $126.9 ...

German automotive supplier Hella, which operates under the umbrella brand Forvia, has announced its financial results for the first half of the fiscal year 2025 (Jan. 1 to June 30, 2025). The company said its Lifecycle Solutions Business Group reported sales declining by 6.6% to €501 million (previous year: €537 million). This was mainly due to the continuing cautiousness to invest within the commercial vehicle business in connection with the weak economic environment, the compa...

BM Catalysts, the UK’s largest independent manufacturer of catalytic converters, DPFs, and front pipes, is advising the aftermarket to brace for increased cost pressures as raw material prices rise again. The costs for platinum group metals (PGMs) — rhodium, palladium and platinum — are particularly volatile, leading to potential price adjustments across the catalytic converter range in the coming months, the company says. Significance: The company says rhodium has been the most expensi...

The Specialty Equipment Market Association (SEMA) announced that its recent research has revealed that US consumers spent approximately $52.65 billion accessorizing and modifying their vehicles in 2024. Based on its research, SEMA anticipates continued growth through 2025, albeit slower than the COVID-period boom when enthusiasts used their free time to work on their vehicles. The following several years should see a gradual return toward a more normal, long-term trend of 4% to 5% annual sale...

LKQ Corp., a US-based distributor of replacement parts, components and systems, announced that its division LKQ Europe has entered into a joint venture with Synetiq Ltd., a UK-based vehicle salvage, dismantling and recycling firm. Synetiq is a business unit of IAA Holdings, owned by RB Global.  Significance: The newly named JV, LKQ Synetiq, will combine LKQ's distribution reach and data-driven logistics network with Synetiq's dismantling, reuse and remanufacturing expertise. Synetiq...

Motorcar Parts of America (MPA), a US-based remanufacturer, manufacturer and distributor of automotive aftermarket parts, has reported financial results for its fiscal year 2025 and fourth quarter ended on March 31, 2025. For the full year, the company's net sales rose 5.5% to a peak of $757.4 million, and gross profit increased 16.1% to $153.8 million. The company generated $45.5 million in cash from operations and reduced net bank debt by $32.6 million to $81.4 million. Net losses...

Japanese automotive parts supplier Marelli Holdings Co. Ltd. announced June 11 that it has commenced voluntary Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware to comprehensively restructure its long-term debt obligations.  The company's product areas include automotive lighting and sensing, electronic systems, electric powertrain, thermal solutions, powertrain, ride dynamics, and aftermarket parts and services. Approximately 80% of the com...

The European Association of Automotive Suppliers (Comité de Liaison Européen des Fabricants d'Equipements et de Pièces Automobiles: CLEPA) has released a note stating that the European automotive supply industry is facing significant challenges due to mainland China's recent export restrictions on rare earth elements (REEs) and magnets. On April 4, mainland China’s Ministry of Commerce imposed export restrictions on seven REEs and magnets used as critical materials in the automotive, ene...

NTN Europe has acquired a 35% stake in LTM, a specialist shock absorber manufacturer and subsidiary of the Mecatech group, confirming its ambition to become a key player in this segment, according to a company announcement. Significance: The company is building on the launch of its own range of shock absorbers under the SNR brand in December 2023, following a technical and commercial partnership with LTM. Since then, the two companies have developed strong synergies in product ...

Hella, a global automotive technology company, announced its return to the Thermal Management product group within the Independent Aftermarket (IAM) segment. Significance: "Hella has been driving innovation in thermal management for over twenty years. Based on our expertise in engine cooling and air conditioning for cars and commercial vehicles, we want to further strengthen our leading position in the aftermarket," said Marcel Wiedmann, head of Independent Aftermarket at Hella. Initially ...

Standard Motor Products Inc. announced its financial results for the first quarter ended March 31, 2025. The company's net sales for the quarter were $413.4 million, marking a 24.7% increase from the previous year, with a 4.8% rise excluding the acquisition of Nissens Automotive. The adjusted EBITDA margin improved by 350 basis points to 10.4%, and adjusted diluted earnings per share rose 80% to $0.81. The company highlighted a strong North American manufacturing base that helps mitigate ta...

In a letter dated April 21 addressed to US President Donald Trump, the Specialty Equipment Market Association (SEMA) has outlined the significant effects that tariffs are having on the US automotive aftermarket industry, which brings nearly $337 billion to the national economy. SEMA is advocating for measures to assist domestic manufacturers in adjusting to these changes. “Our primary request is that American automotive parts manufacturers, including our members, be provided a transition pe...

Magna’s net profit declined 16.8% year over year to $1 billion in the financial year ended Dec. 31, 2024. Sales improved slightly by $39 million to $42.8 billion. The Canadian supplier recorded income from operations before income taxes of $1.5 billion, down 4% year over year from $1.6 billion in the previous financial year. Adjusted earnings before interest and taxes at $2.3 billion was 4% up year over year from $2.2 billion recorded in 2023. The company’s full-year sales benefited from ...

Valeo’s sales declined 2.5% year over year to €21.5 billion in the financial year ended Dec. 31, 2024, the French supplier said in a press release. On a like-for-like basis, the company’s sales decreased 0.5%. Original equipment (OE) sales declined 4% year over year to €17.95 billion and was equivalent to 84% of Valeo’s total sales in 2024. At €2.3 billion, aftermarket sales remained stable at the 2023 level and accounted for 11% of the company’s total sales during the fi...

Forvia’s sales declined 1% year over year to €27 billion in the financial year ended Dec. 31, 2024, the French supplier said in a press release. Organic sales, at constant scope and currencies, increased 0.4% year over year in a challenging business environment, when global vehicle production fell 1.1% to 89.5 million units. At €1.4 billion, operating income was down 2.7% from €1.4 billion and equivalent to 5.2% of sales compared to 5.3% in 2023. The company concluded the financial ye...

Continental has reported a 4.1% year-over-year decline in consolidated sales to €39.7 billion in the financial year ended Dec. 31, 2024. Despite lower sales, the Germany-based supplier recorded 10.3% year-over-year growth in EBITDA to €4.5 billion, equivalent to 11.3% of sales, and 23.4% year-over-year growth in earnings before interest and tax to €2.3 billion, equivalent to 5.8% of sales. Continental concluded the financial year with a 1% year-over-year increase in net income to €1.2 bi...

The European Automobile Manufacturers’ Association (ACEA) has urged the European Commission to seek a constructive dialogue with the US on the imposed tariffs of automobile imports and certain automotive components, ACEA said in a statement on April 7. The industry lobby has also urged the commission to negotiate conditions for mutually beneficial trade with the US and avoid any countermeasures that could put Europe’s manufacturing competitiveness at risk amid widening global trade tensio...

US President Donald Trump has announced plans to introduce a tariff rate on imported semiconductors within the coming week, indicating a shift from previously announced exemptions for smartphones and computers, according to a report published by Reuters on April 14. "We wanted to uncomplicate it from a lot of other companies, because we want to make our chips and semiconductors and other things in our country," Trump said, according to the report. Despite not providing specifics on potenti...

TBC Corp., a distributor of automotive replacement tires based in the US, and a joint venture between Japan’s Sumitomo Corp. and French tire manufacturer Michelin, announced that it has entered into an agreement to divest its Midas franchise portfolio to Mavis Tire Express Service Corp., which operates a tire retail chain across the US. Midas is an automotive repair and maintenance company under TBC. Significance: This transaction is expected to close in the first quarter of the fiscal year...

Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, announced that it is entering into a partnership with General Motors for service and warranty management in Sweden. Significance: The collaboration covers Cadillac’s new electric vehicle models, launching in 2025, with one model already available for sale in Sweden. The agreement aligns with Meko’s strategy to be a comprehensive partner for international automakers seeking a customer-friendly solutio...

CarParts.com Inc., a US-based e-commerce provider of automotive parts and accessories, has reported results for the fourth quarter and the fiscal year ended Dec. 28, 2024. Significance: The company's net sales in the fourth quarter of 2024 were $133.5 million, down 15% from the year-ago quarter. Gross profit was $43.4 million compared to $51.6 million, with gross margin decreasing 50 basis points to 32.5%. Total operating expenses in the fourth quarter were&...

Italy-based National Association of the Automotive Industry Supply Chain (ANFIA) has announced that its Aftermarket Barometer, a statistical survey within the ANFIA Components Group, has revealed that the aftermarket turnover of the association’s group companies grew 2.4% in 2024 compared to 2023. In 2023, turnover had risen 11.6% compared to 2022. Significance: The association said the most significant increase occurred in the second quarter (6.3%) with the first quarter registering positi...

Stellantis has announced the launch of Eurorepar Car Service (ERCS) in India, saying that the move marks its entry into the country’s rapidly expanding automotive aftermarket. The first multibrand workshop under this initiative is Moto-R. Eurorepar Car Service operates across over 30 countries with over 6,000 service centers, “offering reliable and cost-effective alternatives to OEM workshops”, a company release stated. Speaking on the launch, Shailesh Hazela, managing director, Stel...

ZF Group has inaugurated India's first ZF [pro]Tech plus workshop in New Delhi, India. The newly inaugurated workshop is part of ZF’s ZF [pro]Tech network, which has been empowering workshops by providing technical knowledge, training and service data of original equipment manufacturers since 2012, the company says. In a statement, Markus Wittig, Global Head of Business Line Passenger Car, ZF Aftermarket said, “I am very pleased with this launch of India’s first ZF [pro]Tech plus w...

Dorman Products, a US-based aftermarket supplier of original equipment (OE) dealer-exclusive parts, has announced its financial results for the fourth quarter and the entirety of 2024. The company reported fourth-quarter 2024 net sales of $533.8 million, up 8.0% compared to net sales of $494.3 million in the fourth quarter of 2023. Gross profit was $221.7 million, or 41.5% of net sales, compared to $194.2 million, or 39.3% of net sales, for the same quarter last year. Adjusted gross marg...

Driven Brands, a US-based automotive aftermarket repairing and servicing company, has announced its financial results for the fourth quarter and the fiscal year ended Dec. 28, 2024. For the fourth quarter, the company posted revenue of $564 million, up 2% versus the prior year. Systemwide sales were $1.6 billion, up 5% versus the prior year, primarily driven by 3% same-store sales growth and 191 net new units. Net loss for the fourth quarter was $312 million or $1.94 loss per diluted share...

US-based distributor of replacement parts, components and systems, LKQ Corp., has reported its financial outcomes for the fourth quarter and entire year of 2024. Revenue for the quarter was $3.4 billion, down 4.1% compared to $3.5 billion for the fourth quarter of 2023. Total parts and services revenue decreased 4.5% and other revenue grew 6.2% primarily due to higher commodities volumes, partially offset by lower scrap steel prices relative to the same period in 2023. Net income for the f...

US-based automotive parts distributor Genuine Parts Co. (GPC) has announced its financial results for the fourth quarter and the full year ended Dec. 31, 2024. The company reported fourth-quarter sales of $5.8 billion, marking a 3.3% increase from the previous year, and full-year sales of $23.5 billion, up 1.7% from 2023. The increase in sales was attributed to benefits from acquisitions, favorable foreign currency impact, and a slight increase in comparable sales despite challenges posed by mac...

The Auto Care Association, a US-based industry body representing independent manufacturers, distributors and repair shops, announced that on Feb. 11, a significant legal decision was made concerning the automotive industry and vehicle repair rights in Massachusetts, US. Judge Denise Casper ruled in favor of maintaining the 2020 Massachusetts Data Access Law, effectively dismissing the challenge presented by the Alliance for Automotive Innovation. This suit aimed to overturn the Massachusetts Rig...

Lithia & Driveway (LAD), an automotive retailer in North America that also provides a suite of financing, leasing, repair and maintenance options, announced that its fourth-quarter 2024 revenue increased 20% to $9.2 billion from $7.7 billion in the fourth quarter of 2023. Fourth-quarter 2024 net income was $217 million, flat compared to net income of $216 million in the same period of 2023.  During the quarter, the company's aftersales gross pr...

O’Reilly Automotive Inc., a US-based retailer in the automotive aftermarket industry, has disclosed its financial achievements for the fourth quarter and full year ended Dec. 31, 2024.  Sales for the quarter increased $264 million, or 7%, to $4.10 billion from $3.83 billion for the same period one year ago. Gross profit for the fourth quarter increased 7% to $2.10 billion (or 51.3% of sales) from $1.97 billion (or 51.3% of sales) for the same period one year ago. Operating in...

Advance Auto Parts Inc., an automotive aftermarket parts provider in North America, has announced that it plans to cut hundreds of stores as part of its restructuring plan, according to a press release dated Nov. 14. Significance: The company said its restructuring and asset optimization plan is aimed at improving profitability and streamlining its operations. This plan anticipates closure of approximately 500 stores, about 200 independent locations and four distribution centers by mid-2...

The Schaeffler Group announced that its Vehicle Lifetime Solutions (VLS) division reported revenue of €1.953 billion at constant currency in the first nine months of 2024, up 16.1% from €1.710 billion in the same time frame of 2023, according to a press release dated Nov. 5. Significance: Earlier in 2024, Schaeffler announced the debut of its Automotive Aftermarket division under the new branding of Schaeffler Vehicle Lifetime Solutions. The company said this rebranding signifies the...

Japan’s Aisin Corp. has unveiled its new tire brand Aiterra and its lineup of new products, including water-based paints, for the first time at the Auto Aftermarket Tohoku 2024, a business exhibition for automotive aftermarket businesses on Sept. 20 in Japan, according to a report by CarCarePlus on the same date. Significance: About 80 new products and services were unveiled, including tires, water-based paints, tire changers, small mobility and on-site service cars. Among them, the pr...

The Motor & Equipment Manufacturers Association (MEMA) Aftermarket Suppliers, an association in North America representing motor-vehicle component manufacturers, announced that it has successfully petitioned for a new exemption to the Digital Millennium Copyright Act (DMCA) regarding its anti-circumvention provisions, which traditionally prevent the bypassing of copyright protection systems, according to a press release dated Nov. 1. This exemption was officially recognized by the Register o...

The Auto Care Association, a US-based industry body representing independent manufacturers, distributors and repair shops, announced that on Sept. 11, 30 associations from various countries including Australia, Brazil, Canada, Colombia, India, South Africa, the US and nearly 20 European nations gathered in Frankfurt, Germany, during Automechanika 2024 for the Right to Repair Global (R2RG) meeting, as per a press release dated Sept. 17. Significance: This assembly was an essential platform for...

The Specialty Equipment Market Association (SEMA), a US-based trade organization for the automotive aftermarket industry, has revealed new research that offers fresh insights into vehicle life cycles and the trends in accessorizing and modifying the over 289 million vehicles in the US, according to a press release dated Sept. 16. Significance: The SEMA Vehicle Lifecycles Report identifies trends across four vehicle categories: Classic, Aged, Core and Modern, analyzing their age, popularity, u...

Meyle, a Hamburg, Germany-based replacement parts manufacturer for the independent aftermarket, announced that a study conducted in collaboration with Innofact AG surveying 274 independent workshops in Germany, Austria and Switzerland, revealed varied responses toward shifting their business models to accommodate e-mobility, according to a press release dated Aug. 14. Significance: The survey is part of the broader "IAM:CONNECT" dialog platform initiative by Meyl...

German automotive supplier Hella, which operates under the umbrella brand Forvia, has announced financial results for the first half of the fiscal year 2024, spanning from Jan. 1 to June 30, 2024, according to a press release dated July 23. The company said its Lifecycle Solutions Business Group registered a decline in sales by 2.6% to €0.54 billion from €0.55 billion in the previous year. Significance: While the company's independent aftermarket business developed positive...

The Schaeffler Group announced that its Vehicle Lifetime Solutions division reported revenue of €1.309 billion in the first six months of 2024, up 16% from €1.129 billion in the same time frame of 2023, according to a press release dated Aug. 6. Constant currency growth stood at 17.6%. Significance: Earlier in 2024, Schaeffler announced the debut of its Automotive Aftermarket division under the new branding of Schaeffler Vehicle Lifetime Solutions (VLS). The company said this rebranding s...

As reported in a press release on Aug. 5, Continental announced that its executive board is considering the potential spin-off of its Automotive group sector to form two independent companies to maximize value and growth. The decision, set for the fourth quarter of 2024, is aimed at responding to the dynamic changes in the automotive industry, particularly in light of recent technological shifts and market demands for greater flexibility. If the executive board and supervisory board approve, ...

Dana Inc., the Ohio, US-based global supplier of drivetrain and propulsion systems, as well as aftermarket solutions, has revealed its financial results for the second quarter of 2024, according to a press release dated July 31. Significance: The company reported sales amounting to $2.74 billion, a slight decrease from $2.75 billion in the same period in 2023. Despite the dip in sales and the ongoing costs associated with the development of electric vehicle products, Dana said it ma...

Driven Brands, a US-based automotive aftermarket repairing and servicing company, has announced its financial results for the second quarter ending June 29, 2024, according to a press release dated Aug. 1. Significance: The company reported a revenue of $612 million, up 1% from the previous year with systemwide sales reaching $1.7 billion, also up by 1%. This growth is attributed to a 0.5% increase in same-store sales and the addition of 115 net new units, the release added. Despite a slig...

LKQ Corp., a leading provider of alternative and specialty parts to repair and accessorize vehicles, announced its financial results for the second quarter of 2024, highlighting a 7.6% revenue increase to $3.7 billion compared to the same period in 2023, according to a press release dated July 25. The total parts and services revenue increased 9.0%. Other revenue for the second quarter of 2024 fell 16.2%, primarily due to weaker precious metals prices and lower scrap steel volumes relative to...

O’Reilly Automotive Inc., a US-based retailer in the automotive aftermarket industry, has announced its financial results for the second quarter ending June 30, 2024, saying that it has posted a record revenue amid challenges in the demand environment, according to a press release dated July 24. Significance: CEO Brad Beckham acknowledged that the company's performance fell below expectations due to soft demand that continued through May, although sales trends improved in June with str...

ZF Friedrichshafen AG, based in Germany, has announced a strategic realignment to boost its competitiveness amid evolving mobility sector dynamics, especially in electromobility, according to a press release dated July 26. Significance: This restructuring includes organizing German locations more efficiently by merging them into site networks, with an anticipated reduction of between 11,000 and 14,000 employees from the current level of about 54,000 in Germany by the end o...

The Automotive Component Manufacturers Association of India (ACMA) has reported the turnover of India’s aftermarket at $11.3 billion for the period of April 2023 to March 2024, registering a growth of 6.6% year over year from $10.6 billion in the previous year, according to a press release dated July 25. Significance: An increase in the movement of vehicles post-pandemic and surge in demand for used vehicles led to buoyancy in the aftermarket across all segments, ACMA noted. The aftermarket...

Standard Motor Products Inc. (SMP), a US-based automotive parts manufacturer and distributor, has announced its definitive agreement to acquire Nissens, a leading European manufacturer and distributor of aftermarket engine cooling and air conditioning products, for approximately $388 million in cash, according to a press release dated July 10. Significance: The acquisition is said to create a global leader in aftermarket parts supply, particularly in thermal management products, and expand SM...

TVS Mobility, a Mumbai, India-headquartered group whose companies provide manufacturing, supply chain solutions, vehicle mobility, aftermarket distribution and services, has announced that its subsidiary SI Air Springs has acquired Roberto Nuti Group, a Bolognese group that manufactures and markets suspension systems mainly for heavy vehicles in the aftermarket, according to a report by the Press Trust of India. SI Air Springs is a firm involved in air spring solutions for the automotive and rai...

DRiV Inc. has announced a significant expansion of its Monroe Steering and Suspension product line, aiming to enhance coverage by around 20% with the introduction of 750 new part numbers, according to a press release dated June 12. This development underlines Monroe's dedication to offering parts that prioritize safety on the road and are built to last to minimize customer return issues. “We’ve listened to the market, which recognizes the value of one of the world’s best-known brands...

US-based supplier of commercial vehicle braking and safety systems, Bendix Commercial Vehicle Systems, has announced that its primary North American distribution center situated in Huntington, Indiana, will be upgraded using automation technology over the next year and a half, while the engine vibration damper business will consolidate production into a larger space on the campus, according to a press release dated April 25. Significance: The changes are the result of a multimillion-dollar ca...

The Motor & Equipment Manufacturers Association (MEMA) Aftermarket Suppliers, an association in North America representing motor-vehicle component manufacturers, has announced that it is launching a new right to repair campaign in support of the Right to Equitable and Professional Auto Industry Repair (“REPAIR”) Act, according to a press release dated April 29. Significance: The act would expand access to vehicle repair and maintenance information safely and securely and enable afterm...

VinFast Auto has announced that it has signed a cooperation agreement with Mobivia, a European automotive repair and maintenance brand, to expand a comprehensive aftersales service network for VinFast customers in France and Germany, according to a press release dated Apr. 19. Significance: Through this cooperation, VinFast electric vehicle owners can access aftersales services at Mobivia's network of over 900 service centers in France and Germany. Mobivia will oversee the warranty process, r...

DENSO Products and Services Americas, Inc., an affiliate of mobility supplier DENSO, has announced the formation of MobiQ, the company's new brand of aftermarket smart mobility and vehicle-to-everything (V2X) products and solutions, according to a press release dated Apr. 22. The company unveiled MobiQ at the ongoing ITS America Conference & Expo 2024 in Phoenix. "MobiQ stands for mobility, intelligence and quality. We are committed to the smart mobility market and are excited to bring 75...

Mann+Hummel, a global filtration technology company, announced that it has established a new business unit in Indonesia, called PT Mann And Hummel Filtration Indonesia, according to a press release dated April 9. With the move, the company aims to strengthen its reach in key markets in Asia and optimize its sales and logistics network in the region. The company said it is supported by more than 80 offices worldwide and now has a wide reach in China, India, South Korea, Singapore, Thailand and...

CLEPA, the European Association of Automotive Suppliers, recently held the 15th edition of the CLEPA Aftermarket Conference and observed that the automotive aftermarket in Europe faces a transformative landscape shaped by sustainability policies, technological advancements, and evolving regulatory frameworks, according to a press release dated Mar. 26. The event, held on 20 and 21 March in Brussels under the theme “Digital and Sustainable Solutions for a Competitive Aftermarket,” brought ...

Earlier in March, the UK automotive industry had called for the chancellor to use the recently concluded budget to put the UK’s shift to electric vehicles back in the fast lane, with fair taxes for a fairer transition, according to a press release by UK automotive industry body Society of Motor Manufacturers and Traders dated March 1. Significance: New research commissioned by SMMT from market research services firm Savanta has revealed that rising numbers of would-be EV drivers are now lik...

The Schaeffler Group announced that its Automotive Aftermarket division reported revenue of €2.253 billion in 2023, up 11.8% from €2.040 billion in 2022, according to a press release dated March 5. Significance: The company said the revenue growth was due to the favorable impact of volumes and sales prices, adding that increased procurement costs were passed on to the market. In the Europe region, which generates the highest revenue, the Automotive Aftermarket division reported constan...

Bproauto, the new aftermarket parts brand of Stellantis, has announced the launch of its newly expanded website bproautoparts.com, according to a press release dated Feb. 14. The revised website offers a wide array of expanded functionality, including full parts catalog, search functions, automatic alerts for error parts that will not fit an indicated vehicle, aftermarket catalog exchange standard (ACES) and product information exchange standard (PIES)-compliant images for application-specifi...

US-based distributor of replacement parts, components and systems, LKQ Corp., has announced that its revenue for the fourth quarter of 2023 was $3.5 billion, up 16.6% compared to $3.0 billion for the fourth quarter of 2022, according to a press release dated Feb. 22. Revenue for the full year of 2023 was $13.9 billion, up 8.4% compared to $12.8 billion for 2022. Significance: For the fourth quarter of 2023, total parts and services revenue increased 18.7%. Other revenue for the fourth quarter...

German automotive supplier Hella, which operates under the umbrella brand Forvia, announced that in the preliminary results for the fiscal year 2023 (Jan. 1 to Dec. 31, 2023), the Lifecycle Solutions Business Group sales grew by 7.9% year over year to €1.1 billion (calendar year 2022: €1.0 billion), according to a press release dated Feb. 16. Significance: The main drivers were the strong Spare Parts business, particularly in Europe and the Americas, the further rollout of the newly launc...