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Dayco Teams Up With eXtra Loyalty Program
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By Counterman
The
link hidden, please login to view, a community of the Auto Care Association announced Dayco as the title sponsor for the link hidden, please login to view This is the third year Dayco has served as the title sponsor of the annual business event, which brings together the aftermarket industry’s premier companies for high-level, private, one-on-one business meetings Nov. 3-7, 2024, in Las Vegas, Nevada, during Industry Week. “We have valued our partnership with Dayco over the last two years and are grateful that they have once again committed to being our title sponsor for 2024 – it shows significant commitment to the industry and our organization,” said Ted Hughes, executive director, AWDA. “The buzz around this year’s AWDA conference is at a fever pitch already and we are thrilled to not only have Dayco onboard, but strong commitments from The Automotive Parts Services Group (APSG). Both distributors and suppliers are bound to have their highest participation levels in years, making this a memorable week for all channel partners.”
Dayco has been an active member of the automotive industry for more than a century. “One of the company’s core operating principles is activating a customer-first approach: knowing its strategic partners intimately so the Dayco team can deliver solutions that help customers move their business forward,” AWDA said.
“We are proud to sponsor the annual AWDA Business Conference again this year,” said Tom Tecklenburg, vice president, North America, aftermarket, Dayco. “These meetings provide so many benefits as they create a platform for growth with our channel partners. They give us an opportunity to build on our relationships, launch new products that meet the needs of customers, and advance key R&D and supply chain initiatives. We have found such value in our relationship with AWDA and are committed to a one-team, one-industry effort that safeguards and advocates for the distribution channel.”
Tecklenburg will be joined at the AWDA conference by other executive team members from Dayco, including Managing Director of North American Aftermarket Audrey Harling, who will unveil some of the ways Dayco is working to bolster the company’s market position.
“We’re excited to share some of the operational and strategic changes we’ve been implementing this past year to bring positive change to the customer experience,” said Harling.
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By Counterman
link hidden, please login to view announced the expansion of its Variable Valve Timing (VVT) program. SMP said the program offers more than 600 part numbers for import and domestic vehicles, with new numbers added each month.
link hidden, please login to view added its complete VVT Program features Sprockets, Solenoids, Oil Control Valves, and Blue Streak VVT Solenoid Kits and Service Kits, as well as related parts like VVT Spool Filters, Chain Tensioner Kits, Adjuster Magnets and more. Each component is subjected to “extensive testing” in the lab, on vehicles, and end-of-line tested to ensure that they correctly integrate with the complex VVT systems found on today’s vehicles, according to SMP. The company added that recently released Standard VVT Solenoids are now available for popular General Motors vehicles like the 2019 Chevrolet Silverado and GMC Sierra, the 2020 Chevrolet Blazer, and the 2020-19 Cadillac XT4, as well as the Mitsubishi Eclipse Cross through 2022. New Standard® VVT Sprockets are also available for many Subaru, Volvo and Volkswagen vehicles. This coverage includes the 2022-20 Subaru Crosstrek, 2023-14 Volvo XC60 and 2021-16 Volkswagen Jetta. Additionally, to further round out the program, Oil Control Valves have been released for Hyundai, Kia, and General Motors cars and SUVs, and VVT Spool Filters are new for Honda vehicles like the 2019-15 CR-V and 2017-13 Accord, SMP said.
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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.”
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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.
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