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Auto-Wares Names Joe Stewart 2022 Technician Of The Year
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By OReilly Auto Parts
SPRINGFIELD, Mo., July 01, 2022 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, announces the release date for its second quarter 2022 results as Wednesday, July 27, 2022, with a conference call to follow on Thursday, July 28, 2022.
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By Counterman
The automotive aftermarket continues to demonstrate its market strength with higher-than-expected sales in 2021 in the wake of a slow economic recovery from the COVID-19 pandemic in the United States.
Total U.S. light duty automotive aftermarket sales are forecasted to increase 8.5% in 2022, totaling $356.5 billion, according to the 2022 Joint Channel Forecast Model produced jointly by the Auto Care Association and the Automotive Aftermarket Suppliers Association (AASA).
This data will be examined in a joint,
link hidden, please login to view led by Shane Norton of S&P Global Mobility at 1 p.m. EDT on June 9. An additional 5% growth is expected for 2023 and growth will average more than 3% in 2024, bringing the light-duty aftermarket to $401.5 billion by 2025, according to the forecast.
The compound average annual growth rate from 2019 to 2022 will be 5.7%, more than making up for losses seen in 2020 due to the pandemic.
“Year after year, the auto care industry continues to show its strength and reliability,” said Bill Hanvey, president and CEO of the Auto Care Association. “In the midst of the highest gas prices on record and an inflation rate at a 40-year high, coupled with persistent supply chain disruptions and war in Eastern Europe, vehicle miles driven, vehicles in operation and consumer spending all increased in 2021 and are projected to increase into the coming years as well.”
“The automotive aftermarket once again shows its resiliency with a stronger than expected recovery from the pandemic,” commented Paul McCarthy, president and CEO of AASA. “In fact, the automotive aftermarket rose nearly 25% in the past two years despite ongoing headwinds, and we are excited to see the landmark market size of $400 billion in 2025. But as the industry advances to that landmark number, look for a new challenge to emerge as we may shift from a market supported by high demand and availability to a battle for market share. With that, we’ll see one more strength of the aftermarket emerge, collaboration with the right partners to ensure the same pace of success in this next phase of industry dynamics.”
Key data in the joint channel forecast model include:
Market trends influencing the aftermarket A 2021-2025 review of industry growth and forecasts Industry sales by channel including history and forecasts Industry sales by distribution channel And more The market sizing and forecast are conducted on behalf of the Auto Care Association and AASA by S&P Global Mobility (formerly the automotive team at IHS Markit), a leading business intelligence firm. The forecast is based on the U.S. Census Bureau’s Economic Census; IMR Inc.; and proprietary data, economic analysis and forecasting models from S&P Global Mobility.
The Joint Channel Forecast Model is available in the Auto Care Association’s
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By Counterman
NTN, the parent company of BCA Bearings, announced the receipt of a 2022 Content Excellence Award from the Automotive Content Professionals Network (ACPN).
BCA Bearings received the Silver Award for its web-based catalog at the 2022 ACPN Knowledge Exchange Conference.
“We are honored to be recognized for our web-based catalog by the ACPN,” noted Mark Richardson, catalog manager, automotive aftermarket for NTN. “Our
link hidden, please login to view is the public interface for the catalog data that our team works hard to maintain. Throughout 2021, we had over 22,000 catalog lookups on the BCA website alone, so providing the most up-to-date, complete and accurate catalog data, with a user-friendly interface, is of utmost importance, and we are proud to accept this award.”
The ACPN Content Excellence Awards, given annually, recognize the best examples of product cataloging in the automotive aftermarket. The Web-Based Catalog award is based on the catalog-application lookup that is purely browser-based and does not require any special client-side app to be installed.
The Knowledge Exchange Conference, the world’s largest meeting of automotive content professionals, vendors and solutions partners, is hosted by the ACPN, a professional society of the Auto Care Association. Member companies represent all major product segments of the automotive aftermarket. The 2022 ACPN Knowledge Exchange Conference took place in May during the Auto Care Association’s Auto Care Connect event in Orlando, Florida.
This award represents the fifth ACPN Content Excellence Award for BCA Bearings in the last six years. The post
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By Counterman
The AAM Group honored Tri-State Enterprises as its 2022 Member of the Year at the organization’s annual Membership Meeting held May 10-12 in Frisco, Texas.
Each year AAM makes this selection based on five key metrics: Active Participation; Growth as a Percentage; Marketing Participation; Participation in Group Buys; and PRO Rebates Participation. In recognition of its win,
link hidden, please login to view received a custom trophy and an exclusive painting commissioned from automotive artist Jim Caswell. “I’m so proud of the Tri-State team for all their hard work and dedication,” said Tri-State Enterprises owner and President Tristan Taylor. “To once again be chosen out of a great lineup of members is truly a privilege and an honor. The AAM Group is a big part of our overall success, along with a host of supplier partners. Our motto is ‘People Driven,’ and we would not be the company we are today without the support of all our partners. Thank you!”
“In a year when so many members contributed so much value, Tri-State demonstrated tremendous support for our supplier partners, edging out many deserving members to earn this year’s coveted award,” AAM President Tim Odom said. “This win puts Tri-State in the rare category of back-to-back Member of the Year honorees.”
The AAM meeting also saw awards given to the winners in each of the aforementioned individual categories. Recipients included Midwest Wheel and Midstates, Inc. (Active Participation); Alamo Auto Supply (Growth as a Percentage); Dix Performance (Marketing Participation); overall winner Tri-State Enterprises (Participation in Group Buys); and AllPro Distributing (PRO Rebates Participation).
Automotive Accessories Marketing USA Inc. (The AAM Group) is the largest distribution group in the Specialty Equipment Market Association (SEMA) marketplace.
link hidden, please login to view now includes 21 member-companies operating 68 distribution centers throughout North America. The post
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