Tag: automotive

UK automotive sector turns over a record £69.5 billion

Tuesday 30th June 2015 | 0 Comments

New figures released by the Society of Motor Manufacturers and Traders (SMMT) confirm the growing strength and vitality of the UK automotive industry and its ascendancy as a major global player. SMMT’s 16th annual Sustainability Report confirms the sector is breaking new records, with turnover hitting an all-time high of £69.5 billion in 2014. Manufacturing output, vehicle sales, jobs and export values also grew, while the environmental impact from vehicle production has been reduced dramatically.

Continue Reading

IAAF to discuss legislation, internet parts and social media misuse

IAAF to discuss legislation, internet parts and social media misuse

Wednesday 11th March 2015 | 0 Comments

The Independent Automotive Aftermarket Federation (IAAF) has announced that its latest breakfast network meeting will address key legislation, internet parts and social media misuse for employers in the automotive aftermarket. Taking place at Valeo Service UK, Redditch, on Tuesday 21 April, the event will welcome a representative from Capita, a leading FTSE business and provider of business process management solutions.

Continue Reading

Automechanika Shanghai | 09/12/2014 – 12/12/2014

Friday 12th December 2014 | 0 Comments

Automechanika Shanghai’s organisers (Messe Frankfurt) report that the auto parts show is concentrating its efforts on providing an “outstanding” and “insightful” event this year. Scheduled to take place from 9 – 12 December at the Shanghai New International Expo Centre in China, the fair is described as the world’s second largest Automechanika

Continue Reading

Snap-on buys Pro-Cut for US$42 million

Tuesday 3rd June 2014 | 0 Comments

Snap-on Incorporated of the USA has acquired Pro-Cut International, Inc. the world’s leading manufacturer of on-car brake disc lathes. Pro-Cut’s lathes are widely used in brake servicing by car repair workshops of all types. In the UK, Pro-Cut lathes are distributed by Haweka UK of Toddington, Gloucestershire.

Continue Reading

Continental South Africa makes strategic appointments

Wednesday 14th May 2014 | 0 Comments

Continental Tyre South Africa announced the appointment of Niel Langner as marketing manager; Jiminy-Ann Knoetze Bosman as public relations and communications manager; and Morris Naiker as national sales manager on 14 May 2014. The move is being described as a set of strategic appointments designed to strengthen the firm’s tyre sales position in the country.

Continue Reading

Michelin acquires share in fuel cell firm

Thursday 8th May 2014 | 0 Comments

Fuel cell system specialist Symbio FCell reports that Michelin has taken a “significant minority stake” in its business. This acquisition was made as part of a capital increase, and Symbio FCell views Michelin as more than just a shareholder: “Michelin, by virtue of its considerable research and development in hydrogen fuel cells and sustainable mobility, brings value to this partnership,” wrote Symbio FCell in a statement on 6 May.

Continue Reading

Continental profits markedly up in Q1 2014

Continental profits markedly up in Q1 2014

Tuesday 6th May 2014 | 0 Comments

In the first quarter of this year, sales at Continental Corporation increased 4.4 per cent to €8.39 billion, while net income attributable to shareholders of the parent rose 33.3 per cent to €588.3 million, or €2.94 per share. This jump in profits prompted CEO Dr. Elmar Degenhart to comment that the tyre and automotive systems manufacturer is “very capable of combining our growth with value creation.” EBIT rose by almost 21 per cent year-on-year to €903 million as at March 31. This corresponds to a margin of 10.8 per cent, after 9.3 per cent in the previous year. Adjusted EBIT for the first quarter climbed by 19.7 per cent year-on-year to €953 million in the first quarter. The adjusted EBIT margin was 11.4 per cent.

Continue Reading

Slight dip for Hankook in Q1 2014

Friday 2nd May 2014 | 0 Comments

Revenue and operating profit at Hankook Tire was marginally lower year-on-year in the first quarter of 2014, the company reported on 30 April. Global sales revenue amounted to KRW 1.675 trillion (£958.9 million) between 1 January and 31 March, 0.3 per cent lower than the revenue achieved in the first quarter of 2013. Operating profit in Q1 2014 was KRW 260.1 billion (£148.9 million), 0.7 per cent less than a year earlier. Operating profit to sales ratio was 15.5 per cent.

Continue Reading

Continental’s new board less of a ‘man’s world’

Friday 25th April 2014 | 0 Comments

Last November, Germany’s main political parties agreed in principle to the idea of requiring companies based in the country to allocate 30 per cent of their non-executive board seats to women as of 2016. The concept is yet to become law, however many German firms are implementing their own gender initiatives ahead of the possible introduction of such legislation. Continental AG is one such company, and when its new Supervisory Board met for the first time on 25 April, its numbers included three freshly-elected women. The presence of four female members on the 20-strong board means Continental has exceeded its target of having a Supervisory Board with 15 per cent women following the 2014 elections.

Continue Reading

New catalogue for WPS wiper motors range

Wednesday 23rd April 2014 | 0 Comments

Sovereign Rotating Machines has launched a new supplement for its range of WPS branded Wiper Motors. Previously seen as a ‘dealer only’ product, wiper motors represent a significant opportunity in the automotive aftermarket and there are just seven part numbers required to cover more than 70 percent of the UK vehicle parc.

Continue Reading

BEN Scotland Ball ‘a great success’

Thursday 17th April 2014 | 0 Comments

Automotive industry charity BEN is celebrating the success of its 16th BEN Scotland Ball, held at the Crowne Plaza, Glasgow, which raised a total of £8,900 on the night.

Continue Reading

US Justice Department indicts current, former Bridgestone executives

Wednesday 16th April 2014 | 0 Comments

The US Justice Department indicted one Bridgestone Corporation executive and two former officials for conspiring to fix the prices of certain automotive parts, reports Tire Review. Bridgestone itself agreed in February to plead guilty to price-fixing, paying a $425 million criminal fine. The case involves anti-vibration parts used in automotive suspension systems and engine mounts.

Continue Reading

Trust My Garage raise funds for BEN

Monday 14th April 2014 | 0 Comments

The Trust My Garage Charity Challenge teams, the Northern Numpties and the Southern Softies have raised the impressive sum of £8,500 for the automotive charity BEN. The challenge, which was to visit the most TMG members using a route planned by using only the TMG website, was won by the Southern Softies who visited 85 garages during the four day event.

Continue Reading

Continental parting ways with human resources head

Continental parting ways with human resources head

Monday 14th April 2014 | 0 Comments

On numerous occasions German tyre maker and automotive supplier Continental has indicated its intention to increase the number of women holding senior positions within the company, therefore the contract renewal of human resources head Elke Strathmann – the first and currently only female member of Continental’s Executive Board – appeared a mere formality. Yet the company has allegedly decided against renewing her contract upon its expiry at the end of December.

Continue Reading

Craig McCracken joins IAAF Council

Craig McCracken joins IAAF Council

Thursday 10th April 2014 | 0 Comments

The Independent Automotive Aftermarket Federation (IAAF) has announced that Autoparts group factor manager Craig McCracken has joined the IAAF Council. The IAAF Council is a voluntary group of senior aftermarket executives that come together regularly to debate industry issues and set IAAF policy.

Continue Reading