Hennig has 31 branches in Germany. The Genuine Parts Company (NYSE: GPC) announced today an acquisition for its European Automotive business. Alliance Automotive Group (AAG), GPC’s wholly-owned automotive distribution company based in London, U.K., has entered into an agreement to acquire Hennig Fahrzeugteile Group. The transaction is expected to close by August 1, and is […]
Aftermarket Applauds FTC’s Compliance Warning to Hyundai on Warranty Requirement for OEM Parts
On April 9, 2018, the Federal Trade Commission (FTC) issued a “compliance warning” to Hyundai Motor Company regarding violations of the Magnuson Moss Warranty Act (MMWA)’s prohibition against tie-in sales of branded products and services as a condition of warranty coverage. FTC specified the following website statement as problematic: “The use of Hyundai genuine parts […]
Universal Technical Institute Reports Revenue Down 4.4% in Fiscal Second Quarter
Universal Technical Institute, Inc. (NYSE: UTI) reported financial results for the fiscal 2018 second quarter ended March 31, 2018. Revenues for the quarter were $80.7 million, compared to $82.5 million for the prior year period. The year-over-year revenue variance was primarily attributable to a 4.4 percent decrease in UTI’s average student population. Operating expenses for […]
NATEF and AYES Merge to Form ASE Education Foundation
Effective January 1, 2018, the National Automotive Technicians Education Foundation (NATEF) and the Automotive Youth Educational Systems (AYES) have merged to become the ASE Education Foundation. “The new combined organization will take advantage of the extremely high ASE brand awareness among consumers, industry and education audiences. It will also provide clarity and simplification of message […]
ASA Calls for Opposition to Missouri Anti-Vehicle Safety Inspection Legislation
Association opposes Missouri House Bill 1444 According to the Automotive Service Association (ASA) on February 7, the Missouri House Transportation Committee held a hearing to address House Bill (HB) 1444 that would repeal Missouri’s vehicle safety inspection program. ASA opposes HB 1444 and encourages all interested parties in Missouri to visit the alerts section of […]
Valvoline Completes Acquisition of Assets of Henley Bluewater LLC
Addition of 56 quick-lube locations in Michigan and northern Ohio immediately increases the number of company-owned stores in the Midwest Valvoline Inc. (NYSE:VVV) yesterday announced that it has completed the previously announced acquisition of 56 Valvoline Instant Oil ChangeSM (VIOC) franchise service centers from Henley Bluewater LLC. These stores build on the infrastructure and talent […]
ASA Announces Training Events During CARS@AAPEX
September 15 Webcast Gives Sneak Peek of CARS@AAPEX. The Automotive Service Association (ASA) has created a significant opportunity for automotive repair professionals to learn about adapting their current business model to prepare for the future. As the CARS@AAPEX show approaches, former ASA Chairman Donny Seyfer, AMAM, co-owner of Seyfer Automotive in Wheat Ridge, Colo., and […]
Fisher Auto Parts Acquires Six Locations
Herb Godschalk, co-president of Fisher Auto Parts, announced the intention to acquire six World Auto Parts company stores based in Buffalo, New York. The closing is expected on or around October 1. World Auto Parts’ roots in Buffalo run deep. David Chertoff built the business over the course of three decades, starting in his parents’ […]
Pep Boys Acquires Newpark Auto Service in Newark, California
Pep Boys, a wholly-owned subsidiary of Icahn Automotive Group LLC, announced it has acquired Newpark Auto Service in Newark, Calif. “Newpark is an excellent addition to our existing store base in the San Francisco region, a target market for ongoing growth as we expand our national service center network,” said James Healy, Senior Vice President […]
LKQ Corporation Announces New CEO
Rob Wagman steps down due to health considerations. LKQ Corporation (NASDAQ:LKQ), the parts distributor with operations in the North America, Europe, and Asia, announced that its Board of Directors unanimously selected Dominick P. Zarcone, the current Chief Financial Officer of the company, to become the new President and Chief Executive Officer. Robert L. Wagman has […]