“Scrappers Get Boost From 'Cash For Clunkers' - CBS 2 Chicago” plus 4 more |
- Scrappers Get Boost From 'Cash For Clunkers' - CBS 2 Chicago
- Consumer Reports Says Don't Let Small Car Problems Turn Into Costly ... - Earthtimes
- Frost & Sullivan Finds Changing Consumer Behavior Toward Automotive ... - PR Newswire
- Water Downed Gas Damages 35 Vehicles - WKRG
- Price of US recession is paid in jobs - Saudi Gazette
| Scrappers Get Boost From 'Cash For Clunkers' - CBS 2 Chicago Posted: 03 Aug 2009 04:34 PM PDT
CHICAGO (CBS) ―
The last mile for those clunkers is to the junkyard. Big business in trade-ins is a boon to scrappers. CBS 2's Mike Puccinelli shows us what happens when they lower the boom. It's the end of the line for a Buick LeSabre at North Shore Towing. This car traded in at the "Cash for Clunkers" program is one of many at this Evanston business. "Last week, we picked up over 100 cars just for the 'Cash for Clunkers' program alone," said North Shore Towing Owner Robert Cole. Cole says they've been smashing, stacking and scrapping clunkers as fast as his forklift operators can move the piles of mangled metal. Before they're crushed, gas tanks and batteries have to be pulled out. And tires need to be smashed down. Engines also are removed. But clunker drive trains can't be resold despite the fact that many are worth serious money. "Drive train can be anywhere from $500 to $2,000," Cole said. "It's going in the recycle bin." The whole point to the "Cash for Clunkers" program is to take gas guzzlers off the road. The proof was in the huge pile of engines taken from gas-guzzling cars and trucks. While North Shore is primarily into scrapping, LKQ Corp. is into harvesting parts from the clunkers they buy. "We sell a lot of parts to the collision repair industry," said LKQ A-Reliable Auto Parts General Manager David Mele. "This fender, hood, some of the headlights, all can be re-used, which are helpful to the environment, to repair damaged vehicles. That boosts the company's bottom line and also helps keep repair costs down for users of the salvaged parts. "Recycled auto parts are usually at a lower cost than newer parts," Mele said. "So it's a cheaper cost solution to repair the vehicles." LKQ is currently negotiating with thousands of auto dealers to buy tens of thousands of clunkers. So there are a lot of clunker parts that will ride another day, possibly in a car near you. To insure that the engines from "Cash for Clunker" trade-ins don't end up on the roadway, dealers have to destroy engines by filling their oil tanks with a silicone-based fluid. They then start the engine. The fluid then causes the engine to seize up and die after a few minutes. (© MMIX, CBS Broadcasting Inc. All Rights Reserved.)  This posting includes an audio/video/photo media file: Download Now |
| Consumer Reports Says Don't Let Small Car Problems Turn Into Costly ... - Earthtimes Posted: 03 Aug 2009 05:03 PM PDT |
| Frost & Sullivan Finds Changing Consumer Behavior Toward Automotive ... - PR Newswire Posted: 30 Jul 2009 06:59 AM PDT MOUNTAIN VIEW, Calif., July 30 /PRNewswire/ -- Consumers invest more in the maintenance and repair of their vehicles as they expect to own the vehicles longer in the wake of financial uncertainties, job loss fears, and uncertain fuel prices triggered by the economic slump. The demand for maintenance-related jobs is on an upswing in this economic slowdown. In some regions, automotive service centers and independent repair shop owners keep a constant eye on their customers' credit and acclimatize themselves to these changes. (Logo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO) New analysis from Frost & Sullivan (http://www.automotive.frost.com), Frost & Sullivan Speaks Candidly with U.S. Automotive Shop Owners, finds that there were over 240.9 million light vehicles in use in 2007 and that the repair industry sold over $70 billion in parts to support the industry. Repair shop owners are the front line of that industry and the first place where vehicle owner behavioral changes become evident. If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with a front-line insight into how shops cope with consumer behavior changes and the opportunities and challenges tough economic times provide for the repair industry, send an e-mail to David Escalante, Corporate Communications, at david.escalante@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by e-mail. Though domestic vehicles account for the majority of shop traffic in the country, changes are evident in the vehicle brands that frequent the repair shops. Therefore, repair shop owners constantly monitoring their business to meet the needs of the evolving vehicle population. Repair shop owners consider the original equipment (OE) parts far superior than their private label counterparts in fit and functional quality, and continue to promote their value to their customers, despite the current focus on low-cost repairs. On the other hand, manufacturers, retailers, and warehouse distributors (WDs) patronize private labels, as they are economical, with better margins and revenues. The installers, though otherwise all right with the private labels, are unhappy with the inferior quality of the parts, as the reputation of their shop is at stake if their customers underrate their proficiency. "Despite the popularity of private label products in the aftermarket, shop owners delivered scathing reviews to aftermarket private label brands and their products," says Frost & Sullivan Global Program Manager Mary-Beth Kellenberger. "Complaints of poor quality, variable quality between part numbers within the line, and fit issues indicate that shop owners are unwilling participants in the growth of private label brands." The greatest challenge for independent repair shop owners is to find a way of providing quality service at a low cost. Many shop owners put their faith in the industry's understanding of operational expenses and job profitability as a means of avoiding price wars that could spiral the industry into premature despair. Repairers need to recognize the value of their services and set fair prices within that value range. An opportunity exists with the import vehicle owners as well. These customers have less faith in the untested private label parts but seek low-cost maintenance and repair services. "Gaining access to quality aftermarket import brand parts is extremely important as independents position themselves as a value alternative to dealers," says Kellenberger. "Winning the job at a price that supports each enterprise's financial structure is as crucial to the survival of the industry as smart management to prevent cost cutting that undermines repair quality and industry profitability." Frost & Sullivan Speaks Candidly with U.S. Automotive Shop Owners is part of the Automotive & Transportation Growth Partnership Service program, which also includes research in the following markets: strategic overview of the North American automotive aftermarket, vehicle accessories: the next generation of automotive aftermarket growth in the United States, strategic overview of the North American heavy duty truck aftermarket, private labeling in the North American automotive aftermarket. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available. Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com. Frost & Sullivan Speaks Candidly with U.S. Automotive Shop Owners N51E Contact: David Escalante Corporate Communications P: 210.477.8427 F: 210.348.1003 E: david.escalante@frost.com http://www.frost.com SOURCE Frost & Sullivan Website: http://www.frost.com  This posting includes an audio/video/photo media file: Download Now |
| Water Downed Gas Damages 35 Vehicles - WKRG Posted: 03 Aug 2009 05:03 PM PDT At least 35 drivers are dealing with damaged vehicles after filling up with bad gas last week. Two Dragons service station in Prichard was one of 4 stations supplied with a mixture of gas and water last Thursday. The two companies agreed that Minto would cover the costs of repairs and Shell would reimburse them. "Minto Energy is going to pay me and then Shell is going to pay Minto Energy, that's the way I understand it,"Said Larry Kyser with Kyser Auto Repair. Some drivers say they cannot afford to pick up their vehicles and they are not getting any help! A Shell spokesperson tells News Five that they are willing to work with those facing financial hardships. If you need help call the Shell solution center at 1-888-GO-SHELL.  This posting includes an audio/video/photo media file: Download Now |
| Price of US recession is paid in jobs - Saudi Gazette Posted: 03 Aug 2009 05:17 PM PDT Long after President Barack Obama's first term ends in 2013, millions of US families will still be paying the price for the recession. From auto workers in Detroit too old for retraining, to Hispanic migrants in Arizona with no homes to build, to new college graduates competing with experienced workers for scarce jobs, more and more people are facing long-lasting unemployment. Since the recession began in December 2007, the jobless rate has climbed 4.6 percentage points to 9.5 percent, the biggest jump since the Great Depression. Worse, the mean duration of unemployment is now almost 6 months, the highest on record. Although Obama frequently points out he inherited the recession from his predecessor, George W. Bush, the fallout will frame his legacy, presenting a quandary for a president elected on a slogan of "Yes We Can." Unless Obama figures out how to repair the job market, the can-do attitude sparked by his election may be replaced by despair, leaving deep economic and social scars that undermine his political goals. Gone for good Joblessness typically rises during recessions as weak demand prompts companies to cut production and jobs. Normally those workers are rehired once the economy recovers. For example, in the back-to-back recessions of the early 1980s, the jobless rate peaked at 10.8 percent. Thanks to a strong recovery, that receded to 8.3 percent one year after the downturn ended. This pattern has changed in recent years and jobs lost in recessions are much slower to return, if they come back at all. In the 2001 slump, unemployment peaked 19 months after the recession ended, and it was another three years before the jobless rate came close to pre-recession levels. In the current recession, economists say high unemployment is likely to persist at least another four years. In Michigan, home to the battered US auto industry, nearly 13 percent of jobs may be wiped out, according to research firm IHS Global Insight, and the state's labor market probably won't return to its pre-recession strength until after 2015. Alvin Gains, 56, a former worker at a Chrysler plant in the Detroit suburb of Sterling Heights, has given up on finding work in his home state and is leaving for Texas. He left Michigan once before, when he was laid off by Chrysler in 1979. This time he doesn't expect to come back. "This downturn is so much worse, there's no work for people here," he said. The rise in long-term unemployment is a puzzle for economists. The Congressional Budget Office studied it in 2007 and concluded merely that the shift was "hard to explain." But what is clear is the longer people like Gains remain out of work, the worse their chances get. Skills become outdated, big resume gaps put employers off, and younger people step in. Lower living standards  This posting includes an audio/video/photo media file: Download Now |
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