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SPRINGFIELD, Mo., April 25, 2018 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq:ORLY), a leading retailer in the automotive aftermarket industry, today announced record revenues and earnings for its first quarter ended March 31, 2018. 1st Quarter Financial Results Greg Henslee, O’Reilly’s CEO, commented, “Our Team’s dedication to excellent customer service drove a 3.4% increase in comparable store sales, which was above the mid-point of our guidance for the first quarter, and our relentless focus on profitable growth translated this top-line performance into a 5% increase in operating profit dollars and a 28% increase in diluted earnings per share for the first quarter. I would like to thank Team O’Reilly for their hard work and unwavering commitment to providing unsurpassed levels of service to our customers every day and for their contributions to our ongoing success.” Sales for the first quarter ended March 31, 2018, increased $126 million, or 6%, to $2.28 billion from $2.16 billion for the same period one year ago. Gross profit for the first quarter increased to $1.20 billion (or 52.6% of sales) from $1.13 billion (or 52.5% of sales) for the same period one year ago, representing an increase of 6%. Selling, general and administrative expenses for the first quarter increased to $778 million (or 34.1% of sales) from $728 million (or 33.8% of sales) for the same period one year ago, representing an increase of 7%. Operating income for the first quarter increased to $423 million (or 18.5% of sales) from $403 million (or 18.7% of sales) for the same period one year ago, representing an increase of 5%. Net income for the first quarter ended March 31, 2018, increased $40 million, or 15%, to $305 million (or 13.4% of sales) from $265 million (or 12.3% of sales) for the same period one year ago. Diluted earnings per common share for the first quarter increased 28% to $3.61 on 85 million shares versus $2.83 on 93 million shares for the same period one year ago. Mr. Henslee concluded, “We believe the long-term drivers for demand in our industry remain intact, including a growing and aging vehicle fleet that is driven over three trillion miles each year; but more importantly, we are very confident in our ability to continue to gain market share by providing consistently high levels of service to our customers, and we are well positioned to build on the improved trends we drove in the first quarter.” Share Repurchase Program During the first quarter ended March 31, 2018, the Company repurchased 2.2 million shares of its common stock, at an average price per share of $251.08, for a total investment of $549 million. Subsequent to the end of the first quarter and through the date of this release, the Company repurchased an additional 0.4 million shares of its common stock, at an average price per share of $235.25, for a total investment of $87 million. The Company has repurchased a total of 68.8 million shares of its common stock under its share repurchase program since the inception of the program in January of 2011 and through the date of this release, at an average price of $140.55, for a total aggregate investment of $9.67 billion. As of the date of this release, the Company had approximately $1.08 billion remaining under its current share repurchase authorizations. 1st Quarter Comparable Store Sales Results Comparable store sales are calculated based on the change in sales for stores open at least one year and exclude sales of specialty machinery, sales to independent parts stores and sales to Team Members. Comparable store sales increased 3.4% for the first quarter ended March 31, 2018, on top of 0.8% for the same period one year ago. 2nd Quarter and Updated Full-Year 2018 Guidance The table below outlines the Company’s guidance for selected second quarter and updated full-year 2018 financial data: For the Three Months Ending June 30, 2018 For the Year Ending December 31, 2018 Comparable store sales 2% to 4% 2% to 4% Total revenue $9.4 billion to $9.6 billion Gross profit as a percentage of sales 52.5% to 53.0% Operating income as a percentage of sales 18.5% to 19.0% Effective income tax rate 23% to 24% Diluted earnings per share (1) $3.95 to $4.05 $15.30 to $15.40 Capital expenditures $490 million to $520 million Free cash flow (2) $1.1 billion to $1.2 billion (1) Weighted-average shares outstanding, assuming dilution, used in the denominator of this calculation, includes share repurchases made by the Company through the date of this release. (2) Calculated as net cash provided by operating activities, less capital expenditures and excess tax benefit from share-based compensation payments for the period. Non-GAAP Information This release contains certain financial information not derived in accordance with United States generally accepted accounting principles (“GAAP”). These items include adjusted debt to earnings before interest, taxes, depreciation, amortization, share-based compensation and rent (“EBITDAR”) and free cash flow. The Company does not, nor does it suggest investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, GAAP financial information. The Company believes that the presentation of adjusted debt to EBITDAR and free cash flow provide meaningful supplemental information to both management and investors that is indicative of the Company’s core operations. The Company has included a reconciliation of this additional information to the most comparable GAAP measure in the selected financial information below. Earnings Conference Call Information The Company will host a conference call on Thursday, April 26, 2018, at 10:00 a.m. Central Time to discuss its results as well as future expectations. Investors may listen to the conference call live on the Company’s website at www.oreillyauto.com by clicking on “Investor Relations” and then “News Room.” Interested analysts are invited to join the call. The dial-in number for the call is (847) 619-6397; the conference call identification number is 46648810. A replay of the conference call will be available on the Company’s website through Thursday, April 25, 2019. About O’Reilly Automotive, Inc. O’Reilly Automotive, Inc. was founded in 1957 by the O’Reilly family and is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States, serving both the do-it-yourself and professional service provider markets. Visit the Company’s website at www.oreillyauto.com for additional information about O’Reilly, including access to online shopping and current promotions, store locations, hours and services, employment opportunities and other programs. As of March 31, 2018, the Company operated 5,097 stores in 47 states. Source: https://globenewswire.com/news-release/2018/04/25/1487571/0/en/O-Reilly-Automotive-Inc-Reports-First-Quarter-2018-Results.html

The factory-recommended replacement intervals for filters can vary quite a bit depending on the year, make and model of the vehicle, as well as how it is driven. As a rule, older vehicles (those more than 15 to 20 years old) typically have more frequent service intervals than newer vehicles. Why? Because late-model vehicles require less maintenance, thanks to improvements in motor oils, transmission fluids, engine design and filter media. Many long-life air and oil filters use synthetic fiber media or a blend of cellulose and synthetic fibers to extend filter life. Changing the oil and filter every 3,000 miles was standard practice decades ago. But it’s no longer necessary because most multi-viscosity oils today are a synthetic blend or a full synthetic that resist viscosity breakdown and oxidation for a much longer period of time. Late-model fuel-injected engines also run much cleaner than their carbureted ancestors, which reduces oil contamination in the crankcase. Oil and filter change intervals for most late-model vehicles range from 5,000 to 7,500 to 10,000 miles or more. Many vehicles don’t even have a time/mileage recommendation anymore but rely on a computer algorithm to turn on a “service reminder light” when an oil change is needed. A key point with today’s extended service intervals is that they depend on two things: using a top-quality motor oil that meets OEM service requirements, and a premium or long-life oil filter (brand name or private label) that has the storage capacity to go the distance without clogging. The most common mistake that’s made when recommending or choosing an oil filter is to go with the least expensive filter on the shelf. That can be a big mistake if a customer is not changing their oil for 5,000 miles or more. Many economy filters lack the storage capacity to go beyond 4,000 or 5,000 miles before they clog and go into bypass mode and route unfiltered oil to the engine. Our advice is to always recommend a premium or extended-life filter to every customer who is following extended service intervals, as well as customers who are buying synthetic motor oil because they want the best protection for their engine. Recommended replacement intervals for engine air filters can range from 30,000 to 50,000 miles or more, but it depends more on exposure to dirt than time or mileage. The dirtier the environment, the more often the air filter should be replaced. Inspecting the air filter when the oil is changed is the best way to tell if it is dirty. Cabin air filters that trap both dust and odors typically have a service life of about one year regardless of mileage because the charcoal particles that absorb odors degrade over time. Dust-only cabin air filters should be inspected and/or replaced every two years or 30,000 miles, or as needed depending on operating conditions. In-line fuel filters typically have a recommended replacement interval of 30,000 to 50,000 miles. But many of today’s fuel filters are part of the fuel pump module assembly inside the fuel tank and are “lifetime” filters with no recommended replacement interval. The filter should have enough capacity to last upward of 10 years or 150,000 miles – unless the fuel is somehow contaminated with a tank of dirty gas (it happens!). Most late-model automatic transmission filters also are “lifetime” filters with no specified replacement interval. Under “normal” use, the fluid and filter often can go upwards of 10 years or 150,000 miles. However, many transmission experts still recommend changing the fluid and filter every 50,000 miles for preventive maintenance. Fluid and filter life can be cut short if the transmission runs hot (towing can cause this), or as a result of hard use. Discolored fluid that smells like burned toast is a sign of overheating and should be changed without delay. Source: http://www.counterman.com/replacement-intervals-for-oil-and-air-filters-in-todays-vehicles/

STARFIRE’s Tec-A line of products for front-line maintenance and service is growing with the addition of three new offerings: STARFIRE TEC-A-Carb Carb/Choke Cleaner gets to hard-to-reach passages and sliding surfaces to eliminate carbon, gum, sludge, varnish or corrosive deposits that interfere with performance. It is safe for oxygen sensors and catalytic convertors. STARFIRE Tec-A-Nut Penetrating Oil cuts through grease and corrosion while dissolving rust to free seized components. It also is effective for water displacement, leaving a protective film in cracks and crevices to prevent rust or corrosion. STARFIRE Tec-A-Glass is ammonia-free and quick-drying. Its clinging foam formula quickly removes fingerprints, smudges, light grease, bugs, dirt and smoke residue from windows, mirrors and other glass surfaces without rinsing. It leaves a streak-free shine and a pleasant, fresh aroma. The new additions join STARFIRE Tec-A-Brake Low VOC Brake & Parts Cleaner and Tec-A-Start Starting Fluid in the company’s line of maintenance and service products. All STARFIRE lubricants and additives meet or exceed manufacturer requirements. For bulk orders or technical specifications, or to locate a local distributor, call 888-258-8723 or visit starfire1.com/contact.php. Source: http://www.aftermarketnews.com/starfire-extends-tec-a-line-with-3-new-products/

Auto parts maker Tenneco is buying Federal-Mogul from Carl Icahn's Icahn Enterprises in a deal worth $5.4 billion in cash and stock. Tenneco will then separate the combined companies into two separate stocks in a tax-free spinoff, one focusing on "aftermarket and ride performance," the other on "powertrain technology." "We expect to be meaningful stockholders of Tenneco going forward and are excited about the prospects for additional value creation," Icahn said in a statement. "This transaction is an excellent example of our general modus operandi at Icahn Enterprises, by which we seek to acquire undervalued assets, nurture, guide and improve their condition and operations, and ultimately develop them into more valuable businesses, which greatly enhances value for all shareholders." Icahn acquired control of Federal Mogul, a maker of wiper blades and spark plugs, in 2008. The activist investor then took it private in January 2017. Tenneco shares jumped more than 6 percent in premarket trading Tuesday. The sale to Icahn, made up of $800 million in cash and 29.5 million shares of Tenneco stock, is expected to close in the second half of the year. Source: https://www.cnbc.com/2018/04/10/icahn-selling-federal-mogul-to-tenneco-for-5-point-4-billion.html

Air filters, cabin air filters, oil filters and (sometimes) fuel and transmission filters are important maintenance parts that typically are replaced according to a time and/or mileage schedule. A vehicle’s service schedule recommendations can be found in the owner’s manual or in a separate brochure. Unfortunately, many motorists never read – or totally ignore – the recommendations. Factory service schedules are designed to prolong the life of the engine, transmission and cooling system, to reduce premature wear and breakdowns, but also to minimize maintenance costs while the vehicle is still under warranty. That’s why factory oil change recommendations have been stretched to 7,500 to 10,000 miles or more on many late-model vehicles. Most late-model cars and light trucks no longer have recommended change intervals for transmission fluid and filters, or for fuel filters. These so-called “lifetime” fluids and filters are supposed to last a long time – but they won’t last forever. Experience has shown that “lifetime” filters and fluids don’t live up to the hype. Fuel filters always should be replaced when a fuel pump is replaced (unless the filter is part of the fuel pump module assembly). Likewise, transmission filters should be replaced if a customer is changing the fluid in their transmission. Last Line of Defense Against Contaminants Filters are the first line of defense against contaminants. Air filters keep dirt and abrasive particles out of the engine. A good-quality air filter will trap about 98 percent or more of the particles that can cause trouble inside an engine. As the filter media becomes saturated with dirt, it’s efficiency actually increases. But, as the filter becomes clogged with more and more dirt, it also becomes more restrictive to airflow. The greater the pressure drop across the filter, the more it hurts performance and fuel economy. Ideally, an air filter will be replaced before it causes a restriction in airflow. Whether or not an air filter goes 30,000 miles or 50,000 miles before it needs to be replaced depends on driving conditions and how much dirt the filter has ingested over those miles. Driving on dusty rural gravel roads is a lot different than suburban or city driving. Air filters need to be inspected regularly and changed more on an “as needed” basis than the mileage on the odometer. The same advice goes for cabin air filters, which typically need to be replaced every couple of years. Carbon-impregnated “odor” filters are only good for about a year before they lose their ability to absorb odors. Cabin air filters are an often overlooked maintenance item because many motorists are unaware their vehicle has one, or how often it should be changed. The filters usually are located behind the glovebox or under a panel in the cowl area of the windshield. With oil filters, the situation is a little different. An oil filter traps dirt and metallic wear particles in the crankcase to protect the bearings, rings, camshaft and valvetrain components. The life of the oil filter depends on how rapidly contaminants are generated inside the engine. If the air filter is doing its job and prevents dirt from being sucked into the engine, and the rings and cylinders are in good condition and holding a tight combustion seal, and the oil is doing its job of minimizing wear, an oil filter easily should last until the next oil change is needed. Oil filters have a built-in bypass valve so if they do become clogged and the pressure differential becomes too great, the bypass valve will open, allowing the engine to maintain normal oil pressure. The only problem is that the oil will be unfiltered, which means the bearings, cam and valvetrain have no protection against abrasive wear particles. The small size and limited dirt-holding capacity of many late-model oil filters means regular changes are a must. Source: http://www.counterman.com/coolant-sealers-can-help-vehicle-owners-save-money/

One of the best money-saving products that’s ever been invented is cooling system sealer. Most products will successfully seal minor coolant leaks to stop the loss of coolant that leads to engine overheating. Specially formulated “head gasket” sealers also can stop many head gasket leaks and save your customer thousands of dollars in expensive engine repairs. What’s more, coolant sealers also can be added to the coolant as a preventive measure to plug small leaks before they turn into big ones. Coolant leaks can occur anywhere in the cooling system, including the water pump, hoses, radiator, heater core, thermostat housing, expansion plugs, head gasket, combustion chamber or cylinder block. Regardless of where a leak occurs, the end result is always the same: coolant loss that sooner or later allows the engine to overheat. Overheating is bad news because excessive heat causes metal to expand beyond normal limits and clearances. The result can be piston scuffing, cylinder scoring, valve sticking, damaged valve guides and even warped cylinder heads. Overheating also can crush an otherwise good head gasket, causing the gasket to leak when the radiator is refilled with coolant. Most cooling system sealers can seal small pinhole leaks in radiators and heater cores as well as hairline cracks where the core and end tanks are joined, and porosity leaks in aluminum cylinder heads and blocks. Products designed to seal more serious leaks also can delay or even eliminate the need to replace a head gasket or heater core (both of which are expensive labor-intensive repair jobs). Stopping a water pump shaft seal leak, however, or a large leak in a hose is beyond the capabilities of most products. The key to selling cooling system sealers is to match the product with the leak your customer is trying to stop. And the keys to a successful repair are choosing the right product and then following the directions on the label. Step one is to figure out what’s leaking. Is it the radiator, heater core, water pump or a bad hose? Head gasket leaks are harder to diagnose because leaks are usually internal rather then external. A mysterious loss of coolant with no puddles under the vehicle or obvious signs of leakage under the hood often indicates a leaking head gasket, or in some cases a leaky radiator pressure cap. A head gasket leak can be confirmed by pressure-testing the cooling system, using a chemical test strip that detects the presence of combustion gases in the coolant, or by checking the dipstick for signs of coolant in the oil (yellowish gunk on the dipstick). Radiator caps also can be pressure-tested to see if the cap holds its rated pressure. If it can’t, replace the cap. Sometimes, leaky hose connections can be fixed by simply tightening or replacing the clamp. But if a hose is dripping or spraying coolant, replacing the hose is the recommended repair. Same for a leaky water pump. If a leak is something that a coolant sealer has a good chance of stopping, select a product that is formulated for that type of leak (read the label). Tell your customer to follow the directions for how the product should be used and what, if any, additional steps are recommended to ensure a successful seal. In most cases, the sealer is added to the radiator or coolant reservoir. Makeup coolant then is added and the engine is started so the sealer and coolant can circulate until the leak stops. Additional coolant may be required after the engine has reached operating temperature and cooled back down. Caution: Customers should be warned to NEVER open a radiator cap on a hot engine. Steam can blow out and cause serious burns. Wait until the engine has cooled before opening the cap. Source: http://www.counterman.com/coolant-sealers-can-help-vehicle-owners-save-money/

SOUTHFIELD, Mich., March 1, 2018 /PRNewswire/ -- ANCO® Wipers, one of Federal-Mogul Motorparts' quality brands, will mark the 100th anniversary of The Anderson Company on March 1st with the return of an iconic part of its past: "Big Yellow," the bold, eye-catching display cabinet for shops and technicians. Additionally, ANCO recently released a new conventional wiper blade for light vehicles, ANCO 97-series. Big Yellow was a unique display unit that revolutionized the way that wipers were displayed, sold and merchandised. Now available for a limited time, this mobile display popular among shops and service stations during ANCO's early years serves as a nod to the longevity of the brand as well as an accessible way for technicians to pull the right ANCO wiper for easy installation or sale. To obtain Big Yellow, shop owners may contact their supplier for more details. "ANCO has always been one of Federal-Mogul Motorparts' most recognized brands, and it's fitting that we are able to pay homage to our past by reintroducing Big Yellow to the market," said Michael Proud, vice president of marketing, Americas, Federal-Mogul Motorparts. "We also look forward to kicking off our next 100 years by creating a fresh, modern look for our brand, and are excited to have technicians, shop owners and DIYers alike taking a new look at the ANCO brand and the spectrum of products that we have to offer." ANCO has long led the way and offered premium replacement wiper blades, refills, washer pumps and wiper arms for passenger cars and commercial vehicles. Recently, the ANCO brand released a new series of conventional wiper blades for light vehicles, ANCO 97-Series wipers, that offer complete conventional coverage across 97 per cent of vehicles in operation (VIO) in North America, in a size range from 12" – 22", 24", 26" and 28". In keeping with ANCO's long history of engineering innovation, each wiper is manufactured with Duraklear® Plus, an exclusive, advanced rubber compound to provide consistent, streak-free performance, maintainable at highway speeds. These wipers are also outfitted with Redi-Fit™ connection system that eliminates the use of loose-pack connectors for fast, easy installation. ANCO was founded as The Anderson Company by John W. Anderson in South Bend, Ind., in 1918. Initially, it developed, produced and marketed a range of automotive products, including "Hot Spot" manifold gaskets, ball thrust bearings, and timers, all for the original Ford Model T. Eventually, the company began experimenting with wiper blades, and by the early 1930s, were producing replacement wipers and arms at large volumes, including for military applications. Federal-Mogul Motorparts' parent company, Federal-Mogul Corporation (now Federal-Mogul LLC), acquired the ANCO brand in 1998. To find a replacement wiper blade, view installation videos, or to learn more about ANCO products, visit www.ancowipers.com. To learn more about Big Yellow and other merchandising opportunities, please contact your Federal-Mogul Motorparts representative. About Federal-Mogul Federal-Mogul LLC is a leading global supplier of products and services to the world's manufacturers and servicers of vehicles and equipment in the automotive, light, medium and heavy-duty commercial, marine, rail, aerospace, power generation and industrial markets. The company's products and services enable improved fuel economy, reduced emissions and enhanced vehicle safety. Federal-Mogul operates two independent business divisions, each with a chief executive officer reporting to Federal-Mogul's Board of Directors. Federal-Mogul Motorparts sells and distributes a broad portfolio of products through more than 20 of the world's most recognized brands in the global vehicle aftermarket, while also serving original equipment vehicle manufacturers with products including braking, wipers and a range of chassis components. The company's aftermarket brands include ANCO® wipers; Beck/Arnley® premium OE quality parts and fluids; BERU®* ignition systems; Champion® lighting, spark plugs, wipers and filters; Interfil® filters; AE®, Fel-Pro®, FP Diesel®, Goetze®, Glyco®, National®, Nüral®, Payen®, Sealed Power® and Speed-Pro® engine products; MOOG® chassis components; and Abex®, Ferodo®, Jurid® and Wagner® brake products and lighting. Federal-Mogul Powertrain designs and manufactures original equipment powertrain components and systems protection products for automotive, heavy-duty, industrial and transport applications. Federal-Mogul was founded in Detroit in 1899 and maintains its worldwide headquarters in Southfield, Michigan. The company employs nearly 53,000 in 24 countries. For more information, please visit www.FMmotorparts.com. SOURCE Federal-Mogul Motorparts http://www.FMmotorparts.com

Advance Auto Parts Inc. recently completed the nationwide roll-out of cross-banner visibility, a program that enables the company to serve professional customers with a greater breadth and depth of quality parts available in-market. Cross-banner visibility enables shop owners, technicians and Advance team members to view the entire product assortment available from Advance, Carquest and Worldpac on one platform, powered by a new catalog. Access to the enterprise product portfolio, including more than 1 million quality parts as well as online ordering on a single invoice will help reduce the time spent researching and ordering parts and decrease product delivery times for the professional customers served by Advance. “Cross-banner visibility brings together all of our enterprise product offerings to give the professional customer more choices,” said Bob Cushing, executive vice president, Advance Professional. “Now you can see and order parts from Advance, Carquest and Worldpac locations in your market, all in one catalog. Cross-banner visibility will help decrease order times for shops and give us the ability to say ‘Yes’ even more often to our customers.” Advance began deploying cross-banner visibility in select markets during 2017 to an initial pilot group that included professional customers and company-owned stores. Additional locations were added as in-market product availability and assortment, as well as delivery routes, were optimized to best serve a market’s customers. Cross-banner visibility is now complete nationwide, delivering Advance, Carquest and Worldpac customers expanded visibility and access to their expansive product portfolio ranging from OE to aftermarket brands. For more information about quality parts and services available from the entire Advance organization, visit pro.AdvanceCommercial.com or call 1-877-280-5965.

Bloomberg reports Fiat Chrysler Automobiles NV has fielded interest in some of its Magneti Marelli businesses as the Italian-American carmaker prepares for a potential spinoff of the auto-parts unit by early next year, according to people familiar with the matter. Bain Capital has sought to buy businesses including the lighting division, and U.S. rival Tenneco Inc. has shown interest in some or all of Marelli’s assets, said the people, who asked not to be named as talks are private. Brembo SpA, which supplies brakes for Ferrari NV’s Formula 1 race cars, has discussed buying some Marelli assets, working with a group of Italian investors, they said. A Brembo representative said the company doesn’t currently have any plans regarding Marelli. Bain, the private equity group, and Tenneco, based in Lake Forest, Illinois, declined to comment, as did Fiat Chrysler. While Fiat Chrysler still favors a full distribution of Marelli stock to its investors at the beginning of next year, it could eventually be open to selling some product lines before the separation, the people said. Chief Executive Officer Sergio Marchionne, who has so far rebuffed the suitors, doesn’t want to sell businesses that make key components for the automaker to private-equity investors, but a sale to an industrial buyer could potentially make sense, the people said. Spinoff Plan Magneti Marelli may be valued at about 5 billion euros ($6.1 billion) including debt, the people said. Fiat Chrysler said last year that it was considering a spinoff of the unit, as part of Marchionne’s plan to unlock value and better position the company for the changes churning through the industry. The 65-year-old CEO had more recently targeted last month for the board to review terms for distributing the stock. Fiat Chrysler’s board will consider a potential spinoff in the second quarter, according to a statement late Wednesday. “In the meantime, management will continue its evaluation of potential transaction structures to maximize value,” it said. Like other car-part makers, Marelli has a mix of low-margin and premium product lines whose differences will only widen with the switch to automated and electric cars. The unit, founded in 1919, manufactures automotive lighting systems, powertrain components and engine-control units, along with electronic systems, suspension systems, shock absorbers and other components and modules. It had sales of about 7.9 billion euros in 2016, and employs about 43,000 people. A spinoff would be in keeping with a global trend by parts suppliers to become more specialized amid the move to electric and self-driving cars. Competing U.S. parts supplier Delphi divided last year into vehicle-propulsion systems producer Delphi Technologies Plc and Aptiv Plc, which focuses on connected and autonomous cars, while German tire and powertrain maker Continental AG said in January that it’s mulling a possible revamp. Unit Independence Marchionne has already turned Fiat Chrysler’s CNH Industrial NV unit, which makes trucks and construction equipment, and the Ferrari supercar division into separately traded companies as he seeks to focus on automaking. Fiat said it will discuss Marelli’s separation as part of its review of the group’s five-year plan to 2022, the last one under Marchionne’s leadership. The executive, who plans to step down next year, will outline on June 1 his vision for the future of the carmaker. During his tenure, he increased the former conglomerate’s value by more than 10 times to about $80 billion helped by the spinoff of Ferrari and CNH. Adapt or Die Is Marchionne’s Stark Farewell Message to Carmakers In an interview in January, Marchionne predicted that carmakers will have less than a decade to reinvent themselves to survive in the world of new technologies. Premium brands will manage to hold onto their cachet, while more run-of-the-mill manufacturers will confront disruptors including electric-car maker Tesla Inc. or the Waymo robo-vehicle division of Google parent Alphabet Inc., he said. Source: https://www.bloomberg.com/news/articles/2018-03-01/fiat-s-auto-parts-unit-said-to-draw-suitors-amid-spinoff-plan

Advance Auto Parts CEO Tom Greco on Tuesday said the company plans to bring in outside help to compete against e-commerce giant Amazon. “So when you talk about Amazon particularly, we’ve had to recruit some people into the company who can really help us compete vigorously against formidable competitors like Amazon,” he told FOX Business’ Liz Claman on “Countdown to the Closing Bell.” The company is trying to engineer a business turnaround by using its savings from the tax reform bill and is taking steps to step up its e-commerce program. “We’re investing in e-commerce and our technology programs because we know that’s going to be important,” Greco said. “We certainly made big investments in customer service because the experience that our customers have both online and in the stores is critical and then in our people.” According to Greco, one of the biggest focuses of the plan is to incentivize its employees. “Overall, we have a plan that is going to invest significantly back in our employees,” he said. “We have front-line employees all over the country who are really important for us. We want the very best parts people in the business working for Advance.” After President Donald Trump signed the Tax Cuts and Jobs Act, which slashed the corporate tax rate to 21% from 35%, companies began giving incentives to their workers including salary hikes to $1,000 bonuses. As a part of the auto parts retailer’s turnaround strategy, the company introduced a stock ownership program that provides its top-performing employees with stock options. “We actually introduced a stock ownership program for them for our top performers so that they can earn stock in the company,” he said. “We feel that is a really good retention move for us, and it has dropped our turnover significantly.” Source: http://www.foxbusiness.com/markets/amazon-triggers-advance-auto-parts-call-for-outside-help

Parts Authority announced today that they have acquired IMC from AutoZone. LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--Parts Authority, one of the largest distributors of automotive and truck parts to the aftermarket auto parts industry throughout the United States, today announced it has entered into a definitive agreement to purchase Interamerican Motor Corporation (“IMC” or the “Company”) from AutoZone, Inc, (NYSE: AZO). IMC operates 26 locations across 9 states and is the second largest distributor of OE quality import replacement parts in the United States. For over fifty years IMC has been committed to offering its customers a robust parts catalog sourced from hundreds of foreign focused suppliers, including original equipment brands. The transaction is expected to close in the coming weeks. "We are excited to add IMC to the Parts Authority platform. This acquisition is an expansion of our product offerings, customer touch points and geographies. The Company’s leadership in European replacement parts is a logical fit with Parts Authority’s current catalog," said Randy Buller President & CEO of Parts Authority. "We believe the expanded inventory depth of the combined organization will significantly benefit both IMC’s existing customer base as well as Parts Authority’s customers. In addition, the IMC footprint expands Parts Authority into key new geographies of Florida, Texas, Northern California and the Pacific Northwest. As with any acquisition, we are most excited about bringing on great people. IMC’s management team and team members will add tremendous value to our organization and we are excited to welcome them into the Parts Authority family.” “Parts Authority’s culture of customer service, operational excellence and integrity combined with IMC's leadership in selling to the import segment creates an exciting growth platform”, said Kelly Mundt VP of Corporate Strategy of IMC. “This is a fantastic home for our team members”, she continued. “While we believe IMC is a valuable asset and a leader in European and Asian branded replacement parts, the sale of IMC will allow AutoZone to focus on our core business.,” said Bill Rhodes AutoZone’s Chairman, President and CEO. ”We believe IMC will be better suited to a different ownership structure where they will get the time, attention and investments necessary to optimize their business model.” Jefferies LLC acted as sole financial advisor to AutoZone in the proposed sale of Interamerican Motor Corporation. About Parts Authority: Parts Authority, founded in 1972, is one of the largest distributors of automotive and truck parts to the aftermarket auto parts industry in the United States serving customers in the commercial channel, including installers, dealerships, fleets and national accounts as well as in the e-commerce channel. Headquartered in Lake Success, NY, Parts Authority has over 150 locations, including IMC, across the Northeast, Mid-Atlantic, Ohio, Georgia, Florida, Texas, Arizona, California and the Pacific Northwest. Parts Authority is led by President & CEO Randy Buller and a management team with long-tenured industry experience. Parts Authority has grown through both organic initiatives as well as through acquisitions. Over the past several years Parts Authority has acquired over a dozen companies as part of its geographical expansion initiative. About AutoZone: As of February 10, 2018, AutoZone sells auto and light truck parts, chemicals and accessories through 5,514 AutoZone stores in 50 states plus the District of Columbia and Puerto Rico in the U.S., and 532 stores in Mexico, 26 IMC branches and 16 stores in Brazil for a total count of 6,088. AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the United States. Each AutoZone store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Many stores also have a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations, and public sector accounts. Additionally, we sell automotive hard parts, maintenance items, accessories, and non-automotive products through www.autozone.com, and our commercial customers can make purchases through www.autozonepro.com. AutoZone does not derive revenue from automotive repair or installation. Contacts For Parts Authority David Serrano, 516-300-1265, ext 3299 EVP and Chief Financial Officer [email protected] or For AutoZone Media: Ray Pohlman, 866-966-3017 [email protected] or Financial: Brian Campbell, 901 495-7005 [email protected]

LOS ANGELES (PRWEB) FEBRUARY 27, 2018 Kingswood Capital Management, LLC (together with its affiliates, “Kingswood”), an operationally-focused lower-middle market private equity firm, announced today that it has acquired substantially all of the assets of AutoAnything, Inc. (“AutoAnything” or the “Company”). Based in San Diego, California, AutoAnything is a leading online retailer of automotive performance parts and accessories. Prior to the acquisition, AutoAnything was a subsidiary of AutoZone, Inc. (NYSE: AZO), the largest retailer of aftermarket automotive parts and accessories in the United States. Brandon Proctor, President of AutoAnything, said “We look forward to working with Kingswood and continuing to provide our customers with market leading products and service. Kingswood’s expertise and operational support will allow us to accelerate the execution of our strategic plan and to reach our full potential as an independent company.” As part of the transaction, Drew Sanocki, a Kingswood operating executive and an ecommerce veteran, having participated in the sector as a founder, operator, advisor and investor, is joining the Company as Executive Chairman and will be actively involved with the Company’s senior management team in executing the Company’s long term plan. “We are excited about partnering with a leader in such a large and expanding category. We look forward to working with the AutoAnything team to innovate and grow the company as a category leader,” said Mr. Sanocki. Alex Wolf, Managing Partner of Kingswood, commented, “As an early mover in the online automotive aftermarket category, AutoAnything was able to develop some distinct competitive advantages in a large, fragmented and growing market. We are delighted to partner with Brandon, Drew and the entire AutoAnything team to further build upon those strengths for the benefit of AutoAnything’s customers, employees and vendor partners.” Guggenheim Securities, LLC acted as the exclusive financial advisor to AutoZone. Dentons LLP served as legal advisor to Kingswood. About Kingswood Capital Management Kingswood (http://kingswood-capital.com/) is an operationally-focused lower-middle market private equity firm that invests in businesses in transition driven by operational, strategic, financial or market-driven change. In addition to access to capital, Kingswood brings a broad network of operational resources, relevant industry relationships and tailored solutions to strengthen businesses, realize strategic goals and enhance long term value creation. About AutoAnything AutoAnything, founded in 1979 and headquartered in San Diego, California, is a leading online retailer of automotive performance parts and accessories. The company sells a wide variety of products, including tonneau covers, floor mats and liners, brakes, rotors and pads, seat covers, suspension systems, nerf bars and running boards, exhaust, mufflers and tips, and air intake systems. Source: http://www.prweb.com/releases/2018/02/prweb15251024.htm

4th quarter comparable store sales increase of 1.3%, full-year increase of 1.4% 36% increase in 4th quarter diluted EPS to $3.52, includes a $0.62 benefit from revaluation of deferred income tax liabilities Announces Executive Leadership Succession Plan Springfield, MO, February 7, 2018 – O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced record revenues and earnings for its fourth quarter and full year ended December 31, 2017. The results represent 25 consecutive years of comparable store sales growth and record revenue and operating income for O’Reilly since becoming a public company in April of 1993. 4th Quarter Financial Results Greg Henslee, O’Reilly’s CEO commented, “We generated comparable store sales of 1.3% for the fourth quarter, as we faced tough comparisons from a very favorable demand environment in the prior year, as well as calendar headwinds. As we discussed on our third quarter earnings call, December of 2016 was a very strong month, driven by extreme winter weather across the country. We also faced unfavorable calendar shifts in the fourth quarter of 2017, due to the timing of the Christmas holiday, which fell on a Monday in 2017 versus a Sunday in 2016, and one additional Sunday during the fourth quarter of 2017. Sunday represents our lowest volume day, and these combined calendar shifts resulted in a 70 basis point headwind to our fourth quarter 2017 comparable store sales results. Despite these challenges, Team O’Reilly’s hard work and dedication to providing unsurpassed levels of customer service drove our comparable store sales results above the mid-point of our guidance range, and I would like to thank all of our Team Members for their unwavering commitment to our long-term success.” Sales for the fourth quarter ended December 31, 2017, increased $92 million, or 4%, to $2.19 billion from $2.10 billion for the same period one year ago. Gross profit for the fourth quarter increased to $1.16 billion (or 52.9% of sales) from $1.11 billion (or 53.1% of sales) for the same period one year ago, representing an increase of 4%. Selling, general and administrative expenses (“SG&A”) for the fourth quarter increased to $756 million (or 34.5% of sales) from $707 million (or 33.7% of sales) for the same period one year ago, representing an increase of 7%. Operating income for the fourth quarter decreased to $403 million (or 18.4% of sales) from $408 million (or 19.4% of sales) for the same period one year ago, representing a decrease of 1%. Net income for the fourth quarter ended December 31, 2017, increased $56 million, or 23%, to $302 million (or 13.8% of sales) from $246 million (or 11.7% of sales) for the same period one year ago. Diluted earnings per common share for the fourth quarter increased 36% to $3.52 on 86 million shares versus $2.59 on 95 million shares for the same period one year ago. The U.S. Tax Cuts and Jobs Act, enacted in December 2017, significantly reduced the federal corporate income tax rate, and required the Company to revalue its deferred income tax liabilities based on the lower enacted federal corporate income tax rate. The Company’s Net Income for the fourth quarter ended December 31, 2017, includes a one-time $53 million benefit related to the revaluation of its deferred income tax liabilities, and the Company’s diluted earnings per common share of $3.52 for the fourth quarter ended December 31, 2017, also includes a one-time $0.62 benefit from the revaluation. The Company adopted a required new share-based compensation accounting standard during the first quarter of 2017, which requires excess tax benefits from share-based compensation payments to be recorded in the income statement. The Company’s diluted earnings per common share of $3.52 for the fourth quarter ended December 31, 2017, includes a $0.15 benefit from the adoption of the new accounting standard. Full press release: https://corporate.oreillyauto.com/corporate/GetUpload?id=orly_pdf_222.pdf

The Mighty Auto Parts franchise brand has been named one of the top 50 franchises for 2018 by Franchise Business Review. Mighty Auto Parts is the franchise network of Mighty Distributing System of America Inc., which is based in Norcross, Ga. Franchise Business Review surveyed franchisees on 33 benchmark questions focusing on critical areas of their franchise systems. Topics ranged from training and support to operations, to franchisor/franchisee relations, and financial opportunity. Mighty was one of 307 franchise brands participating, representing over 28,000 franchise owners across North America, according to Mighty Distributing System. "There are thousands of successful franchise companies operating in North America, but many of those companies do not offer a solid investment opportunity for the actual franchise owners," says Eric Stites, CEO of Franchise Business Review. "As an independent research firm, we rate the franchise companies in the marketplace today and identify those that have the highest levels of satisfaction and performance among their franchisees in order to help entrepreneurs when choosing which franchise to invest in. The companies on this year's list are the top performing brands in the areas critical to their franchisees' success." Mighty Distributing System is a Georgia-based franchisor with a network of distributors that provide inventory management solutions and preventive maintenance products to automotive service providers, including tire dealers, quick lubes, independent shops, car dealerships, and fleets. The company says its continued franchise growth includes recruiting high-quality entrepreneurs as well as forming strategic partnerships with prominent automotive service companies. Mighty franchises provide owners a way to improve operational efficiency and diversify their current business portfolio. Ken Voelker, Mighty Distributing System's president and CEO, says, "As a full-service franchisor, Mighty provides its franchisees with a suite of products and services designed to help them be successful. Mighty's business model of licensing exclusive territories, providing leading-edge training, and helping franchisees monitor and improve financial performance has been a successful formula for over five decades. It is gratifying to see the research by Franchise Business Review validates our commitments to franchisee satisfaction and positive franchisor-franchisee relations." This is the 13th annual ranking of the top 200 award-winning franchise opportunities by Franchise Business Review, a franchise market research firm that performs independent surveys of franchisee satisfaction. Franchise Business Review publishes its rankings in its annual Guide to Today's Top Franchises. Mighty Distributing System supports 109 U.S. distributors in 44 states and four international markets. The company, which was established in 1963, deals directly and exclusively with automotive professionals. Posted on February 1, 2018 - http://www.moderntiredealer.com/news/728339/mighty-auto-parts-is-ranked-among-top-50-franchises-in-north-america

The e-commerce automotive aftermarket is expected to cross $30 billion USD by 2025, according to a new research report by Global Market Insights Inc. The global e-commerce automotive aftermarket is expected to generate a demand of more than 1 billion units till 2025. Increasing age of vehicles across the globe, specifically in developed countries coupled with shifting consumer preference towards online purchase of auto components will primarily drive the industry growth over the forecast timeframe. Changing style preferences of consumers and increasing customizations in vehicles will further strengthen the industry penetration. Steering and suspension is anticipated to dominate the e-commerce automotive aftermarket share over the forecast timeframe. This can be credited to rising demand of components such as control arms, coil springs and bearings. Availability of numerous options at reasonable price and choice will positively impact the product demand. Spark plugs are expected to exhibit more than 21 percent CAGR till 2025 owing to recommendation of vehicle manufacturers for product replacement after every 30,000 miles. Increased accident rates along with cheaper product availability as compared to its counterparts will further propel the segment’s growth. Online platforms have gained prominence among the automotive aftermarket industry players to launch their auto-parts portfolio. The manufacturers are increasingly launching their products on online platforms through third party retailers, such as Amazon and eBay, or via their own online portals, positively impacting the industry growth. However, lack of efficient standardization for e-commerce businesses may lead to easy counterfeiting of products, posing a threat to the industry growth over the forecast timeframe. Rising production of electric and hybrid vehicles across the globe has resulted in increased complexity of the intricate parts. This has led to increased production of automotive aftermarket parts owing to proliferating DIFM customers. The e-commerce automotive aftermarket players are forced to expand their portfolio, to cater to the rising demand, inducing immense potential to the industry size till 2025. Third party retailers are likely to account for highest revenue share crossing $29 billion USD by 2025. Rising popularity of these retailers such as eBay and Amazon will primarily drive the industry growth. High revenue generation also can be attributed to the distinct services. Moreover, provision of benefits such as same day delivery will further strengthen the e-commerce automotive aftermarket penetration. Direct to customer will exhibit approximately 21 percent CAGR from 2018 to 2025. This can be attributed to high brand loyalty of the customers and provision of appropriate service facilities. The automotive aftermarket players such as Bosch are expanding their online platforms to enhance their visibility among the customers. B2C will account for maximum revenue share crossing $13 billion USD over the forecast timeline. Shifting preference of customers towards online purchase of these auto parts will primarily support the industry dominance. This can be attributed to the cost effectiveness of the online portals as compared to conventional stores. Fast query solving, and provision of technologically advanced products will further escalate the revenue generation. B to big B will exhibit more than 19 percent CAGR owing to provision of benefits such as fast delivery services. North America e-commerce automotive aftermarket size is anticipated to exhibit a CAGR of approximately 17 percent by 2025. Well-established internet infrastructure will pave stable growth prospects to the region’s growth. Presence of prominent e-commerce leaders such as Amazon will strengthen the industry growth over the coming years. Asia Pacific is likely to exhibit considerable share of more than $9 billion USD over the coming years. The substantial revenue generation can be attributed to growth in automobile industry along with rising internet penetration across the region. Napa Auto Parts, DENSO Corp., Amazon, eBay, Auto Zone and Advance Auto Parts are among the prominent participants in e-commerce automotive aftermarket. Partnerships and collaborations with online aftermarket players are among the strategies adopted by the industry players to enhance their visibility. For instance, in 2016, Hella Group collaborated with online auto-parts supplier, iParts.pl in order to expand its product line. Source: http://www.aftermarketnews.com/e-commerce-automotive-aftermarket-hit-30b-2025/ Report: https://www.gminsights.com/industry-analysis/e-commerce-automotive-aftermarket?utm_source=globenewswire.com&utm_medium=referral&utm_campaign=Paid_globenewswire

Jan. 16, 2018—With the release of the "2017 Out-of-Cycle Review of Notorious Markets Report," the United States Trade Representative made the decision to relist Alibaba’s Taobao platform as a notorious market. The report, released on Friday, Jan. 12, identifies 43 online and physical markets around the world that engage in and facilitate substantial copyright piracy and trademark counterfeiting. Among other measures, USTR calls on Alibaba to consider banning widely-counterfeited products such as brake pads and other automotive parts not ordinarily sold on consumer-to-consumer marketplaces. Source: https://www.ratchetandwrench.com/articles/5672-ustr-relists-alibaba-as-counterfeit-market-for-auto-parts

With much of the nation in the clutches of an extended blast of Arctic cold, vehicle batteries are top of mind for motorists – or at least they should be. Parts stores are reporting brisk battery sales, and auto clubs report that a dead or weak battery is the No. 1 reason for roadside service calls. Battery performance can take a 35-percent hit when temperatures hit freezing, and an even bigger hit when the temps go lower, according to CTEK, a Swedish manufacturer of battery chargers. While a battery’s capacity is reduced in freezing temperatures, the power needed to start the vehicle’s engine increases substantially – creating a perfect storm for batteries that aren’t in top shape. Here’s the good news: Proper battery maintenance can help motorists avoid problems in extreme cold weather. CTEK offers these tips to avoid being stranded in frigid winter weather: Check your battery. Perform a preventive maintenance check on the battery and cables. Look for corrosion on the terminals. Remove and clean the terminal connections if necessary. Be sensitive to changes. Be aware of any changes in the way your car starts, or the operation of the electrical system in general. Do the lights dim considerably when you try to start the car? Does the starter seem to be turning slower than normal? Any changes can indicate a weak battery or problems in the electrical system. CTEK offers a Bluetooth-enabled battery monitor that gathers data on battery voltage, battery temperature and battery charge status, the company notes. The stored data is available instantly on a free, downloadable iPhone or Android app. Charge your battery regularly. In addition to the stress that extreme hot and cold weather places on a battery, today’s vehicles require much more from the electrical system than in the past. Navigation systems, entertainment systems and the plethora of electronic control units drain power from the battery that the alternator cannot completely replace. And that drain continues even when the car isn’t running. “In addition to the stress from extreme weather, today’s automotive electrical system is designed to kill batteries,” said Bobbie DuMelle of CTEK. “It puts tremendous demands on the battery, and then does not properly restore it to its full capacity. That’s why CTEK advocates the regular use of a microprocessor-controlled smart charger to achieve maximum battery service life.” Regular use of smart chargers such as the new CTEK MXS 5.0 can help prevent dead batteries in cold weather, and can double or triple battery life, according to DuMelle. By following these steps, car owners can reduce the chances that they will be left out in the cold due to a dead battery when the temperatures drop. And, they also will help extend the service life of their vehicle’s battery. Source: http://www.counterman.com/battery-maintenance-tips-driving-freezing-winter-weather/

Jan. 11, 2018—While last year was nothing to write home about for auto-parts retailers—considering highly regarded stocks such as O’Reilly Automotive's declined as much as 14 percent—analysis from the Associated Press suggests that parts stocks are likely to recover in 2018. The parts sector appears set for a comeback in the following year due to several factors. A combination of the Trump Administration’s tax bill, improving economic growth, improvement in the jobs market, and moderating growth in gas prices should lead to relative improvement in miles driven, the Associated Pressnoted. Another positive for the parts world: the average age of a car in the U.S. keeps increasing. Ultimately, the new year could very well improve investor sentiment toward the Advance Auto Parts and Genuine Parts Company’s of the automotive world. The long-term outlook remains positive for the sector, and impacts from online outlets like Amazon are likely overstated, the Associated Press wrote. Source: https://www.ratchetandwrench.com/articles/5655-analysis-auto-parts-stocks-should-recover-in-2018

Canada's marquee proposal for this month's high-stakes round of NAFTA negotiations will involve modernizing auto-parts rules, say sources familiar with the plans, which hinge on making progress on a long-standing irritant in order to propel the troubled talks forward. "We have been doing some creative thinking," Foreign Affairs Minister Chrystia Freeland said Thursday prior to the start of a Liberal cabinet retreat in London, Ont. "We've been talking with Canadian stakeholders, and we have some ideas we're looking forward to talking with our U.S. and Mexican counterparts about.... If there's goodwill on all sides, we could have a great outcome in Montreal." That's where talks are scheduled to resume Jan. 23, and where multiple sources inside and close to the Canadian government -- speaking on condition of anonymity, given the sensitivity of the matter -- say autos will be a central component of that so-called creative thinking. Freeland and U.S. Commerce Secretary Wilbur Ross agreed during discussions this week that auto parts need to be a priority in Montreal, the sources say. Canada is hoping to win U.S. support for an idea that might achieve its key goal of ensuring American content in cars, while limiting disruptions to current supply chains. The idea is that the rules for calculating domestic content need a revamp, with research into new fuel sources, batteries, lightweight materials, cameras and wireless technology taking up an ever-larger share of a car's value. Canada will suggest that the traditional standards for calculating car parts is outdated, and leave out increasingly important intellectual-property contributions where the U.S. is a world leader. It's not yet clear whether Canada will make its pitch in a formal document or raise it in conversations, with the goal of updating the proposal with U.S. and Mexican input. The idea was already being discussed informally between the countries at a mini-round in December, one source said. Read more: https://kitchener.ctvnews.ca/auto-parts-to-be-focus-of-next-round-of-nafta-talks-1.3755673

Standard Motor Products, Inc. (SMP) announces the addition of 324 new part numbers to its BWD engine management line, covering domestic and import vehicles. The release expands coverage through the 2017 model year by an additional 167 million VIO. To view the highlights, watch BWD’s New Part Spotlight Vol. 22 at www.YouTube.com/BWDBrand. BWD continues to expand its line of variable valve timing (VVT) components. With the addition of 7 VVT Sprockets and 1 VVT Solenoid, BWD’s VVT line now totals more than 300 parts. To learn more about BWD’s after-market leading VVT coverage, visit www.BWDVVT.com The brand also introduced 51 new exhaust gas temperature (EGT) sensors for both diesel and gas applications. Other notable additions include 26 fuel vapor canisters, 22 vehicle speed sensors and 100 additional sensors. All new applications are listed in the eCatalog found at www.BWDbrand.com and in electronic catalog providers. BWD manufactures and distributes a premium line of engine management products for the automotive aftermarket. BWD’s product line features an array of high technology critical components for ignition, emission, and fuel systems as well as growing categories such as diesel, turbochargers, TPMS, VVT, and new MAF sensors. Source: http://www.counterman.com/192986-2/

Auto Value and Bumper to Bumper are gearing up with Standard Motor Products (SMP) for the Aftermarket Jackpot Jumpstart sweepstakes. A total of $70,000 will be given away to more than 100 winners during the months of January and February. Six lucky technicians will win a check for $10,000, and 100 other ancillary prize winners will receive a $100 gift card. During the two promotion months, professional technicians receive an entry with every eligible SMP purchase made through MyPlace4Parts, one of the industry’s leading e-commerce parts ordering systems. Eligible SMP brands include 4Seasons, Blue Streak, Hayden, Intermotor, Standard and TechSmart. But the winning does not end in February with the initial $70,000 that may be earned through MyPlace4Parts purchases. SMP also will be giving away another $10,000 in Las Vegas during the Auto Value and Bumper to Bumper Aftermarket Jackpot Convention, where more than 5,000 Auto Value and Bumper to Bumper automotive repair professionals will converge in Las Vegas in conjunction with the 2018 AAPEX and SEMA shows. Jackpot attendees will receive an entry for a chance to win one of 20 $500 gift cards when they visit SMP’s booth at the AAPEX show. Visit jackpotjumpstartsweepstakes.com for promotion details. Source: http://www.aftermarketnews.com/auto-value-bumper-bumper-announce-aftermarket-jackpot-jumpstart-sweepstakes/

December 22, 2017 09:34 AM Eastern Standard Time SOUTHFIELD, Mich.--(BUSINESS WIRE)--Icahn Automotive Group LLC announced today that it has purchased 19 independently-owned service locations throughout the United States. Highlighted among these acquisitions are: Elliott Tire and Service, a 10-shop center in Washington State; S&S Service in Hamburg, NY; Jack’s Service Center in Miami, Florida; Blanchette’s Auto Center in Dracut, Massachusetts; Quality Automotive in Napa, California; Honest Auto Service in Seattle, Washington; two WS Haynes Tire & Service locations in Memphis, Tennessee; RL&F Auto Inc. in Morrisville, NC; and Plainfield Tire Center in Plainfield, Indiana. Icahn Automotive also announced the recent purchase of BS&F Auto Parts, a leading aftermarket auto parts distributor in the Bronx, NY. BS&F owner & CEO Joseph Ferrer became an integral part of the Icahn Automotive leadership group by assuming the role of Regional Vice President for Commercial Operations over eight locations in the Bronx, Brooklyn, and Queens. “We continue to aggressively expand our national automotive service network, strengthen our full-service capabilities and invest in our most important asset, our people. We are excited to welcome new team members to the Icahn Automotive family and provide them, like our 25,000+ existing team members, the opportunity to be part of a dynamic and successful company,” said Daniel A. Ninivaggi, CEO of Icahn Automotive Group. Icahn Automotive operates nearly 2,000 owned and franchised service locations in 49 states plus Puerto Rico, the District of Columbia, and Canada. About Icahn Automotive Group LLC Icahn Automotive Group LLC was formed by its parent, Icahn Enterprises L.P. (NASDAQ: IEP), to invest in and operate businesses involved in aftermarket parts distribution and service. Our businesses have a singular focus: provide premium automotive parts and services at a great value. The businesses of IEP and Icahn Automotive Group today consist of Pep Boys, an automotive aftermarket retail and service chain, Auto Plus®, an automotive aftermarket parts distributor, Just Brakes®, an automotive service chain, Precision Tune Auto Care, a network of owned and franchised automotive service centers, and American Driveline Systems, the franchisor of AAMCO and Cottman Transmission & Total Auto Care service centers. Icahn Enterprises L.P. also owns Federal-Mogul Motorparts, a leading global supplier of both original equipment and vehicle aftermarket products. Federal-Mogul Motorparts sells and distributes a broad portfolio of products through more than 20 of the world's most recognized brands, including ANCO® wipers; Beck/Arnley® premium OE quality parts and fluids; Champion® lighting, spark plugs, wipers and filters, Fel-Pro® gaskets; MOOG® chassis components; and Abex®, Ferodo®, Jurid® and Wagner® brake products and lighting. Caution Concerning Forward-Looking Statements This release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, many of which are beyond our ability to control or predict. Forward-looking statements may be identified by words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “will” or words of similar meaning. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. We undertake no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise. Contacts Icahn Automotive Group LLC Media Contact: Shana Ferguson, 215-430-9805 [email protected] or Mergers and Acquisitions Contact: Brian Kaner, 215-430-9071 [email protected]

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LKQ Corporation Announces Agreement to Acquire Stahlgruber GmbH December 11, 2017 Download this Press Release (PDF 36 KB) CHICAGO, Dec. 11, 2017 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ) has signed a definitive agreement to acquire Stahlgruber GmbH (“Stahlgruber”) from Stahlgruber Otto Gruber AG for an enterprise value of approximately €1.5 billion. Headquartered in Germany, Stahlgruber is a leading European wholesale distributor of aftermarket spare parts for passenger cars, tools, capital equipment and accessories with operations in Germany, Austria, the Czech Republic, Italy, Slovenia, and Croatia with further sales to Switzerland. Stahlgruber’s facilities include 228 sales centers, six warehouses, and an approximately 128,000 square meter advanced logistics center that is strategically located in Germany, serving more than 100,000 professional clients and offering over 500,000 SKUs. LKQ expects to complete the transaction late in the first quarter or early in the second quarter of 2018, subject to required regulatory approvals. “This transformative acquisition solidifies LKQ as a leading Pan-European aftermarket mechanical parts distributor, and further enhances our global diversification strategy,” stated Dominick Zarcone, President and Chief Executive Officer of LKQ Corporation. “Stahlgruber has a history of delivering above-market growth and its stellar industry reputation is an ideal fit with our culture; we are extremely proud to welcome the approximately 6,600 Stahlgruber employees to the LKQ family. Importantly, we believe that our combined efforts will create tremendous long-term value for our customers and stockholders and growth opportunities for our collective team members.” John S. Quinn, Chief Executive Officer and Managing Director of LKQ Europe, commented: “Stahlgruber will create a contiguous footprint and serve as an additional strategic hub for our European operations, allowing for continued improvement in procurement, logistics and infrastructure optimization. The LKQ Europe management team and I look forward to working with Stahlgruber’s management team and leveraging our combined best practices to maximize the benefits of scale across the continent.” Heinz Reiner Reiff, Chief Executive Officer of Stahlgruber Otto Gruber AG, commented: “This combination is a natural fit for both LKQ and Stahlgruber. I am very excited about the meaningful benefits that will occur by combining our complementary cultures and industry leading management, which together position Stahlgruber to achieve the continued growth of its European businesses. Our acceptance of LKQ shares as part of the consideration emphasizes our belief in the value of this combination.” Stahlgruber’s 2017 annual revenue is estimated to be approximately €1.6 billion. LKQ expects the transaction to be accretive to its adjusted diluted earnings per share during the first year after the closing. These projected results exclude amortization of acquired intangibles, restructuring and acquisition related expenses. LKQ intends to finance the acquisition with the proceeds from planned debt offerings, borrowings under its existing revolving credit facility and the direct issuance to Stahlgruber’s owner of 8,055,569 newly issued shares of LKQ common stock. As of December 1, 2017, LKQ had approximately $1.4 billion of available borrowing capacity under its recently amended credit facility. Bank of America Merrill Lynch and Credit Suisse are acting as financial advisors, Baker McKenzie (Germany) is acting as M&A counsel, and K&L Gates (Chicago) is acting as U.S. securities counsel, to LKQ Corporation. Deutsche Bank is serving as the exclusive financial advisor, and Hengeler Mueller is providing legal counsel, to Stahlgruber’s owner. Non-GAAP Financial Measures Management’s presentation on the conference call will refer to non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. Included with management’s presentation are reconciliations of each non-GAAP financial measure with the most directly comparable financial measure calculated in accordance with GAAP. Conference Call Details LKQ will host a conference call and webcast on December 11, 2017 at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) with members of senior management to discuss the pending acquisition of Stahlgruber. To access the investor conference call participants may dial (844) 579-6824 or for international access (763) 488-9145 and reference conference ID 9595099. Webcast and Presentation Details The audio webcast and accompanying slide presentation can be accessed at www.lkqcorp.com in the Investor Relations section. A replay of the conference call will be available by telephone at (404) 537-3406 or (855) 859-2056 for international calls. The telephone replay will require you to enter conference ID: 9595099#. An online replay of the audio webcast will be available on LKQ’s website. Both formats of replay will be available through December 29, 2017. Please allow approximately two hours after the live presentation before attempting to access the replay. About LKQ Corporation LKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks, and recreational and performance vehicles. Forward Looking Statement Statements and information in this press release that are not historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are made pursuant to the “safe harbor” provisions of such Act. Forward-looking statements include, but are not limited to, statements regarding our outlook, guidance, expectations, beliefs, hopes, intentions and strategies. These statements are subject to a number of risks, uncertainties, assumptions and other factors including those identified below. All forward-looking statements are based on information available to us at the time the statements are made. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You should not place undue reliance on our forward-looking statements. Actual events or results may differ materially from those expressed or implied in the forward-looking statements. The risks, uncertainties, assumptions and other factors that could cause actual results to differ from the results predicted or implied by our forward-looking statements include, among others, the expected timetable for completing the transaction; the receipt of regulatory approvals for the transaction without unexpected delays or conditions; the failure to realize, or delays in realizing, growth projections, synergies and cost-savings from the transaction; competitive responses to the transaction; and other factors discussed in our filings with the SEC, including those disclosed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2016 and in our subsequent Quarterly Reports on Form 10-Q. These reports are available on our investor relations website at lkqcorp.com and on the SEC website at sec.gov. Joseph P. Boutross-LKQ Corporation Director, Investor Relations [email protected] (312) 621-2793 Source: LKQ Corporation