-
Welcome to Auto Parts Forum
Whether you are a veteran automotive parts guru or just someone looking for some quick auto parts advice, register today and start a new topic in our forum. Registration is free and you can even sign up with social network platforms such as Facebook, X, and LinkedIn.
-
Similar Topics
-
By Counterman
Genuine Parts Co. (GPC) reported full-year 2023 sales of $23.1 billion, a 4.5% year-over-year increase.
Net income was $1.3 billion, or $9.33 per diluted share, an increase of 12.3%.
Full-year net sales in the Automotive Parts Group, which includes NAPA Auto Parts, were $14.25 billion, up from $13.67 billion in 2022.
Fourth-quarter automotive sales were up nearly 1% to $3.5 billion.
While GPC’s international automotive businesses posted positive sales growth in local currency, the U.S. automotive segment saw a dip in sales, GPC President and COO Will Stengel noted during the company’s Feb. 15 conference call.
“In North America, while results fell short of our expectations, we remain focused on our strategic initiatives and continue to make solid progress,” GPC Chairman and CEO Paul Donahue said during the call. “We’ve undertaken a comprehensive review of the NAPA business to identify key issues, and we have taken action to improve the performance at NAPA. We are confident we are focused on the right initiatives to positively impact our performance in the quarters ahead.”
Coinciding with the release of its full-year and fourth-quarter 2023 financial results, GPC said the company is launching a global restructuring “to better align the company’s assets and further improve the efficiency of the business.”
The restructuring includes a voluntary retirement offer in the United States, along with “a rationalization and optimization of certain distribution centers, stores and other facilities,” according to the company.
Through the restructuring, GPC said it expects to realize approximately $20 million to $40 million of savings in 2024, and approximately $45 million to $90 million on an annualized basis. The company also expects to incur costs of approximately $100 million to $200 million related to the restructuring efforts in 2024 and will report the restructuring costs as a non-recurring expense.
“The primary objective of the global program is to continue to simplify and streamline our operations consistent with our overall business strategy,” Stengel explained during the conference call. “When we simplify, we increase the speed of local service, deliver operational productivity, improve the efficiency of our teams and reduce our overall cost to serve.”
Stengel noted that the restructuring initiative “is a similar playbook to our previous GPC program implemented in fall 2019 that delivered positive results.”
“Aspects of the restructuring are already in flight, and some will take place in the months ahead,” Stengel added.
Focus on NAPA
Stengel talked at length about efforts to revitalize GPC’s NAPA Auto Parts business.
GPC has identified three areas of improvement for NAPA: improving fill rates in key product categories, “operational rigor in our stores” and capitalizing on commercial growth opportunities, Stengel explained.
Adjustments to “certain key suppliers to improve fill rates” boosted fourth-quarter “category trends,” Stengel said, adding that “we’re encouraged by the positive momentum.”
“Second, our in-store service levels measured by on-time delivery to customers have significantly improved as a result of increased focused on last-mile operating disciplines,” Stengel said.
Stengel noted that efforts to improve commercial sales growth are “ongoing.” GPC recently appointed Tom Skov to the newly created role of executive vice president, sales & store operations, North America.
“He’s an automotive-parts expert and has a deep understanding of our customers field sales and store operations,” Stengel asserted. “We’re excited for the strong leadership Tom will bring to our sales and store operations field teams.”
The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view -
By Counterman
The VIPAR Heavy Duty Family of Companies announced that industry veteran Candy Daume has joined its team as a new program manager.
Daume will be working with the company’s supplier partners to refine and develop parts-purchasing programs for its distributor network, VIPAR noted.
Daume has more than 25 years of heavy-duty aftermarket experience, including experience as COO of a large distributor with responsibility for multiple locations and nearly 100 employees.
“We’re excited Candy is joining our team and the wealth of experience and expertise she brings to our organization,” said Larry Griffin, VIPAR Heavy Duty Family of Companies’ vice president of program management. “She will be instrumental in serving our VIPAR Heavy Duty and Power Heavy Duty distributors, as well as our supplier partners, through development of innovative programs to ensure our network’s continued success.”
Daume is a graduate of Lake Land College in Mattoon, Illinois.
The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view -
By Counterman
Dayco has become a partner brand for the industry’s eXtra loyalty program.
eXtra is a multi-brand loyalty offering geared toward automotive repair shop owners that allows them to buy, earn and redeem points without cutting box tops or tracking sales. It currently has 17,000 participating shop owners in the United States and Canada, and is growing rapidly.
Shops that are registered in the eXtra program now have access to eligible Dayco products and can earn points for purchases that can be redeemed for more than a million items, including everything from high-end merchandise, apparel and electronics from major retailers to travel vouchers, gift certificates and business solutions.
In addition, there are giveaways and incentives for shops as well as daily promotions and regular communication on new products, training information and educational content from the program’s brand partners.
Dayco products offered through the eXtra program include serpentine-belt kits, timing-belt water-pump kits, timing-chain kits and water pumps.
“This program has been well-received in the industry and is growing quickly,” said Tom Tecklenburg, VP of Dayco N.A. sales & marketing. “It’s extremely easy for shops to participate and we love that it offers Dayco a way to reward those repair shops who purchase from us. Plus it gives us an opportunity to educate eXtra shop members on the quality and effectiveness of all of our kits and system solutions and what sets the Dayco brand apart from competitive products.”
U.S. repair shops interested in the eXtra program can visit
link hidden, please login to view, and Canadian shops can visit link hidden, please login to view. For more information about Dayco’s aftermarket products or access to the company’s full library of technical information and repair videos, visit the
link hidden, please login to view. The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view -
By Counterman
GB Reman announced the release of 17 gasoline-direct-injection (GDI) part numbers including GDI injectors, seal kits, fuel lines and a premium GDI seal-replacement tool kit.
The additional part numbers enhance GB Reman’s remanufactured GDI program with added coverage for more than 2,300 unique vehicle applications and more than 24 million vehicles in operation.
“We are very proud of this release, especially with the highly anticipated expansion of our industry-leading GDI program,” said Joe Evert, director of engineering & operations. “Our commitment to quality is the cornerstone of our GDI program’s popularity. We take great pride in delivering top-notch products, rigorously tested to ensure superior performance and backed by a stellar warranty for peace of mind. Our team of experts and our dedication to excellence sets us apart, making GB Reman the trusted choice for those who demand the best in performance, reliability and customer service.”
GDI Fuel Injectors & Seal Kit
GB Reman’s line of remanufactured fuel injectors are remanufactured using a proven 15-step process at its state-of-the-art facilities in Long Beach, California, according to the company.
All injectors include new external seals, O-rings and filters. In addition, all GDI injectors include pre-installed combustion fuel-inlet seals and necessary hardware to ensure a complete and trouble-free installation.
Once remanufactured, each injector is 100% tested under multiple operating conditions to ensure it meets or exceeds OEM specifications for flow rate, spray pattern, coil resistance, form, fit and function.
View the company’s
link hidden, please login to view for a complete list of part numbers and application data. GDI Fuel Injector Multi-Packs
GB Reman released two GDI fuel-injector multi-packs (PNs: 835-11156PK, 835-11158PK) covering 495 unique vehicle applications and more than 6 million vehicles in operation.
Replacing GDI injectors in sets ensures balanced performance, consistent fuel atomization, and prevents drivability issues by maintaining uniformity across all cylinders. While it may involve a higher initial cost, replacing injectors in sets promotes cost-effectiveness in the long run by reducing the likelihood of future repairs and optimizing overall vehicle longevity.
GDI Fuel Lines
GB Reman released six GDI fuel lines (PNs: 892-001, 893-001, 893-002, 893-003, 895-001, 895-002) covering more than 1,000 unique vehicle applications and more than 9 million vehicles in operation.
GDI fuel lines are responsible for delivering pressurized fuel from the fuel tank to the GDI injectors located near the combustion chamber of each cylinder. They play a crucial role in ensuring that the engine receives the right amount of fuel at the right pressure for efficient combustion. The fuel lines are designed to withstand the high operating pressures associated with GDI systems, which can be significantly higher than those in traditional port fuel-injection systems.
Premium GDI Seal Tool Kit
GB Reman released its new premium GDI seal tool kit (PN: GBTK-0001). The tool kit can be utilized to reseal more than 100 unique GDI injectors, covering more than 70 million vehicles in operation, according to the company.
As part of any GDI injector replacement procedure, all injectors on the fuel rail must have their injector seals replaced. While replacing GDI combustion seals is not technically challenging, proper tools and procedures are necessary to ensure that the seals function properly. For
link hidden, please login to view, visit the GB Reman link hidden, please login to view. The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view 
-
By Counterman
The Young Auto Care Network Group (YANG), a community of the Auto Care Association geared toward the under-40 industry professional, announced that its annual sponsorship program has been updated to a year-round opportunity.
Previously, YANG sponsorships were only available during the fall of each year. The update to the sponsorship program allows companies the flexibility to show their support of the YANG community and to continue to provide opportunities for young professionals in the auto care industry to exchange information, contacts and experiences for both professional and social engagement.
“We must ensure that the next generation of leadership has the tools and mentoring it needs to advance the independent auto care industry,” said Bill Hanvey, president and CEO of the Auto Care Association. “YANG offers the opportunity for those under the age of 40 to network, share best practices and develop a support system to ensure our future.”
Corporate sponsors of YANG receive heightened brand visibility and exposure to decision-makers across all segments of the auto care industry, exclusive discounts, featured content and more.
The support of corporate sponsor enables YANG community members to:
Learn best practices from the industry leaders and peers Garner exposure for your company Build relationship that enable future success for your company Value the opportunity to be a part of something bigger than themselves Programs directly supported by the YANG sponsorship program include:
Professional development and industry education geared toward the under-40 crowd available in conjunction with Auto Care Connect YANG Mentorship Program, which provides opportunities for members to be matched with veteran members Scholarship opportunities such as Next Step Program and Leadership 2.0 YANG Regional Meet-Ups in local areas to connect and engage with peers YANG Professional Series, which offers quarterly virtual sessions throughout the year The annual sponsorship program offers five tiers of engagement: Bronze, Silver, Gold, Platinum and Diamond.
Sponsorship benefits within these tiers can range from logo recognition on YANG’s webpage, to recognition in YANG specific email campaigns, and on site at the yearly AAPEX and Auto Care Connect events.
To learn more about the annual sponsorship opportunities and view our sponsorship packet, visit
link hidden, please login to view. The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view
-
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.