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Faced with the great change of technology and innovation application, GM "laid off" employees
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By Auto News
SPRINGFIELD, Mo., Oct. 01, 2020 (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 third quarter 2020 results as Wednesday, October 28, 2020, with a conference call to follow on Thursday, October 29, 2020.
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By Auto News
SPRINGFIELD, Mo., July 29, 2020 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced record revenue and earnings for its second quarter ended June 30, 2020.
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By Auto News
SPRINGFIELD, Mo., July 01, 2020 (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 2020 results as Wednesday, July 29, 2020, with a conference call to follow on Thursday, July 30, 2020.
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By APF
LITTTLETON, Colo.--(link hidden, please login to view)--APC Automotive Technologies, LLC, together with certain of its subsidiaries, (“APC” or the “Company”), today announced that it has entered into a comprehensive Restructuring Support Agreement (the “RSA”) with key stakeholders, including its asset-based lenders, 74% of its term loan lenders that are eligible to vote, and significant financial sponsors (the “RSA Parties”).
The restructuring transaction contemplated under the RSA will reduce APC’s outstanding indebtedness by approximately $290 million on a net basis, significantly strengthening the Company’s balance sheet and enhancing financial flexibility going forward. The RSA represents the commitment of the RSA Parties to support a comprehensive restructuring of the Company’s balance sheet.
Tribby Warfield, Chief Executive Officer of the Company, said, “The agreement with our lenders and equity sponsors represents their belief in APC’s business and their confidence in its future success. We are fortunate that APC possesses a market-leading underbody portfolio of highly regarded brands including Centric Parts®, StopTech®, AP Emissions®, Durafit® and Eastern Catalytic®, strong market recognition, and an exceptional customer base. Most importantly, we have an amazing team that is committed to providing quality products and excellent service to the industry.”
“This restructuring was designed to ensure that our ongoing business and service to customers continues without interruption, and I am confident that the steps we are announcing today will enable the Company to further enhance its ability to serve customers and invest in additional growth for years to come.”
To implement the financial restructuring contemplated under the RSA, the Company has filed voluntary petitions for reorganization pursuant to chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware on June 3, 2020.
The Company will continue to solicit votes on its plan of reorganization during the chapter 11 filing. Because the Company’s plan has already received significant support from its lenders, the Company expects to complete the confirmation process and emerge from bankruptcy within the next month.
In addition, the Company has negotiated agreements with certain of its existing term loan lenders to provide APC $50 million of additional financing in the form of debtor-in-possession financing, which will roll into an exit term loan facility. This will ensure APC’s ability to operate on an uninterrupted basis.
APC will continue to operate in the ordinary course during the restructuring process, with adequate liquidity to meet its financial obligations to vendors, suppliers, and employees. The Company expects to continue making payments to these parties without interruption. Furthermore, the Company will continue to both receive inventory as well as take and fulfill customer orders as usual. The Company has also filed customary “first day” motions to facilitate its day-to-day operations during the restructuring process.
Parties with questions about the chapter 11 process may contact the Company’s Claims and Solicitation Agent, Stretto, at 855.260.9397 (toll-free in the U.S.) or 949.407.8590. Stretto has also set up a website at
link hidden, please login to view, which will be updated with court documents and other information. Kirkland & Ellis LLP, Jefferies LLC, and WeinsweigAdvisors LLC are the advisors for the Company. The RSA Parties include, among others: (i) the Term Loan Lender Group represented by King & Spalding LLP and FTI Consulting and (ii) the financial sponsors represented by White & Case LLP.
About APC Automotive Technologies
APC Automotive Technologies is a leading supplier of automotive, light truck, and heavy-duty undercar replacement parts. For more information, visit
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Our picks
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Advance Auto Parts To Sponsor NASCAR Weekly Series In Multiyear Agreement
APF posted a topic in Advance Auto Parts Forum,
DAYTONA BEACH, Fla. & RALEIGH, N.C.--(BUSINESS WIRE)--As NASCAR Weekly Series sanctioned events begin to return at select tracks across North America, NASCAR and Advance Auto Parts (NYSE: AAP), a leading automotive aftermarket parts provider, today announced a multiyear official partnership, designating Advance as the series entitlement sponsor. As part of the agreement, Advance also becomes the “Official Auto Parts Retailer of NASCAR.”
"It's great to have Advance join us in welcoming the return of NASCAR-sanctioned grassroots racing," said Ben Kennedy, vice president, racing development, NASCAR. "Advance’s commitment to our Weekly Series will develop some of the brightest NASCAR talent across North America. Advance has a long history in racing, and we’re thrilled to see its expanded presence from the grassroots all the way through our national series.”-
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Advance Auto Parts Announces Purchase of the DieHard Brand from Transformco
Auto News posted a topic in Advance Auto Parts Forum,
Advance Auto Parts, Inc. (NYSE: AAP) has acquired the DieHard brand from Transform Holdco LLC (“Transformco”), for $200 million utilizing cash on hand.
“We are excited to acquire global ownership of an iconic American brand. DieHard will help differentiate Advance, drive increased DIY customer traffic and build a unique value proposition for our Professional customers and Independent Carquest partners. DieHard has the highest brand awareness and regard of any automotive battery brand in North America and will enable Advance to build a leadership position within the critical battery category,” said Tom Greco, president and CEO, Advance Auto Parts. “DieHard stands for durability and reliability and we will strengthen and leverage the brand in other battery categories, such as marine and recreational vehicles. We also see opportunities to extend DieHard in other automotive categories. We remain committed to providing our customers with high-quality products and excellent service. The addition of DieHard to our industry leading assortment of national brands, OE parts and owned brands will enable us to differentiate Advance and drive significant long-term shareholder value.”-
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AmazonBasics 6-Pack High Mileage Motor Oil - Synthetic Blend
APF posted a topic in Amazon Auto Parts Forum,
AmazonBasics High Mileage Motor Oil - Synthetic Blend
AmazonBasics high-mileage synthetic-blend motor oil offers an enhanced level of protection for engines over 75,000 miles. Its synthetic blend combines conventional oil with synthetic for cost efficiency with some of the benefits of a full synthetic. An important part of routine maintenance, the motor oil works well for anything from topping off levels to complete oil changes. Whether it’s a beloved older vehicle or one with an uncertain maintenance history, help protect its engine with AmazonBasics high-mileage, synthetic-blend motor oil.-
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OEM vs. Aftermarket Parts for Your Car: How to Choose
APF posted a topic in General Auto Parts Discussion,
When selecting parts for a car repair, it pays to know the differences between original and aftermarket parts. Whenever possible, get estimates for both.
Choosing between original and aftermarket car parts — and even used parts of either type — is all about squaring your priorities with your budget.
You’ll have different options depending on the part and the shop. And the best choice will depend on whether you’re trying to keep repairs cheap, restore your car’s appearance after a wreck or soup up your ride.
Original equipment manufacturer (OEM) parts match those that came with your car, and are of the same quality as its original parts. They’re also the most expensive.-
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Replacement Intervals For Oil And Air Filters In Today’s Vehicles
APF posted a topic in Automotive Wipers, Filters, Oil & Lubricants,
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.-
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By 袁春凤 (Tiffany)
"Downsizing Wave" Frequently Occurs in Winter for Big Car Enterprises
GM: Closing 7 factories and laying off 15,000 workers
In the cold wave of the car market, GM adopted a strategy similar to Ford's, namely, closing factories and laying off employees.
On November 26, General Motors said it would cut production of unsalable models and lay off North American employees as the car market shrank. According to foreign media reports, GM will lay off 15% of its employees by the end of next year, involving nearly 15,000 people, including 25% of its executives. At the same time, GM will close seven production bases around the world, involving three plants in Osawa, Ontario, Canada, Detroit, Ohio, and Warren.
GM's plans to cut jobs and close factories have provoked outrage from President Trump and even threatened to cancel GM's subsidies for electric vehicles. However, in the biggest restructuring in the last decade, GM CEO Mary Bola has shown considerable reform determination.
In fact, as the first female CEO in GM's history, Mary Bola has been trying to build a "fortress" financial structure for GM. From selling Opel out of the European market, to exiting South Africa, East Africa, India and South Korea market one after another, to investing in emerging areas such as self-driving and mobile travel, GM, led by Bora, has contracted its global business scope and rapidly moved towards emerging industries and forward-looking markets.
Today, GM's financial performance in North America and China continues to be good, especially in the Chinese market, GM's investment returns continue to hit record highs.
Even so, GM, which is increasingly sensitive to the market and has a sense of crisis, has not been pursuing the expansion of its size in the global market, but has put streamlining its business and reducing its costs first.
Compared with Ford being forced to lay off employees and shut down its car business because of its financial crisis, GM's approach is more like an initiative before the crisis.
With the coming storm, it may be beneficial to prepare for self-protection in response to the cruel market.
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By APF
In a push to add alternative-fuel vehicles to its global product offerings, General Motors Co. announced on Tuesday that it will be using 3D-printed parts to achieve its goals, according to Reuters.
GM's 3D Auto Parts Initiative
The leading U.S.-based automobile manufacturer said it is working closely with the leading design software company Autodesk Inc. to print lightweight auto parts using 3D printing technology. This week, company executives demonstrated a 3D-printed seat bracket made of stainless steel and developed with the Autodesk technology. Using regular manufacturing methods, the seat bracket would need around eight different components and several suppliers. When designed with the help of the new technology, it consisted of a single part. It also turned out to be 20 percent stronger and 40 percent lighter. It looked like “a mix between abstract art and science fiction movie.” Along with reducing tooling cost and material waste, it will also help reduce the number of suppliers required by GM.
GM has used 3D printers for prototyping parts for last many years. Over the next year, it believes that the new 3D-printed parts will appear in high-end motorsports applications, and over the next five years it plans to scale up to produce “tens of thousands of parts at scale as the technology improves,” Kevin Quinn, the automaker’s director of additive design and manufacturing, told Reuters.
The 3D-printing based manufacturing industry is working toward mass production and trying to address issues with “repeatability and robustness,” said Bob Yancey, Autodesk’s director of manufacturing. Autodesk has expertise in exploring different variations of a part design using the cloud computing and artificial intelligence (AI)-based algorithms.
The leading automaker announced last year it plans to launch 20 new electric and fuel cell models globally by the year 2023. Though electric and battery operated vehicles have seen increasing interest, their mass adoption has been restricted due to their limited range. Lightweight parts could help keep the vehicles lighter and thereby more fuel efficient.
Promising 3D Printing Technology
3D printing, also called additive manufacturing, works by piling up only the required amount of liquefied material, tier by tier. It helps in drastically reducing waste as only the required amount is added, and is in contrast with the conventional subtractive approach where the process involves starting with a large block of material and chipping it away till required shape and size is achieved. (See also, How the 3D-Printing Industry Evolved in 2016.)
GM is not alone in adapting to the promising technology initiative. Earlier, General Electric Co said it would increase the use of 3D printers in its manufacturing processes, while Ford Motor Co. has been testing the 3D printing technology since last year. (For more, see Ford Tests 3D Printing for Parts.)
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