Aftermarket

PGW Auto Glass Premieres New Branding

Retrieved on: 
Tuesday, March 26, 2024
Software, Internet, Aftermarket, Automotive, Data Management, Other Automotive, Technology, General Automotive, Glass, Utility player, ATS, Agility, The Royal Group, Sale, Acquisition, Plough, Equalizer, Senior, Special Recognition Award, Multimedia, SRP, PGW, Video game

PGW Auto Glass has just launched a new logo and brand identity to coincide with the launch of everythingautoglass.com, a VIN decoding and point-of-sale software service focused on getting the correct auto glass solutions quickly and efficiently across the industry.

Key Points: 
  • PGW Auto Glass has just launched a new logo and brand identity to coincide with the launch of everythingautoglass.com, a VIN decoding and point-of-sale software service focused on getting the correct auto glass solutions quickly and efficiently across the industry.
  • The new logo, launched at a company event earlier this month, captures the spirit of the company while reinforcing its commitment to advancing technology in the auto glass space.
  • Awards included the Special Recognition Award, which rewarded seven PGW employees that went above and beyond during the acquisition of American Glass Distributors and Auto Glass Direct and their smooth integration into PGW over the last year, along with the Utility Player of the Year award, which was given to one recipient for their work coordinating Agility Conversions within the American network.
  • Awards were also given to managers from American Glass Distributors new to PGW, recognizing their high performance despite a challenging year of transitions.

Holley Announces Additional $15 Million Debt Paydown

Retrieved on: 
Wednesday, March 27, 2024
Retail, Other Automotive, Supply Chain Management, Recreational Vehicles, Online Retail, Performance & Special Interest, Off-Road Trucks & SUVs, Sports, Other Retail, General Automotive, Aftermarket, Specialty, Motor Sports, Automotive, Vehicle Technology, History, Hand, Bank

Holley Performance Brands (NYSE: HLLY), a leader in automotive aftermarket performance solutions, today announced it paid down an additional $15 million in principal against its first lien term loan facility.

Key Points: 
  • Holley Performance Brands (NYSE: HLLY), a leader in automotive aftermarket performance solutions, today announced it paid down an additional $15 million in principal against its first lien term loan facility.
  • This debt reduction against Holley’s first lien term loan facility was completed through opportunistic repurchases at a discount to par in March and was completed using cash on hand.
  • Combined with the $50 million paydown during 2023, Holley has prepaid the principal amount outstanding under its first lien term loan facility by $65 million since September 2023 allowing Holley to cumulatively recognize up to an estimated $2.5 million in annualized net interest savings.
  • “The prepayment of an additional $15 million of debt demonstrates our continued focus to reduce leverage and improve our balance sheet,” said Jesse Weaver, Chief Financial Officer, Holley.

PHINIA Announces Pricing of Private Offering of $525,000,000 of Senior Secured Notes due 2029

Retrieved on: 
Tuesday, March 26, 2024
Vehicle Technology, Engineering, Aftermarket, Automotive, Automotive Manufacturing, Manufacturing, Alternative Vehicles, Fuels, Person, Sale, Regulation, Offering, Security (finance)

PHINIA Inc. (“PHINIA” or the “Company”) (NYSE: PHIN) announced today that it has priced its previously announced offering (the “Offering”) and has agreed to issue and sell $525 million aggregate principal amount of its 6.75% senior secured notes due 2029 (the “notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).

Key Points: 
  • PHINIA Inc. (“PHINIA” or the “Company”) (NYSE: PHIN) announced today that it has priced its previously announced offering (the “Offering”) and has agreed to issue and sell $525 million aggregate principal amount of its 6.75% senior secured notes due 2029 (the “notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).
  • The aggregate principal amount of the Offering of the notes was increased from the previously announced Offering size of $425 million aggregate principal amount of notes.
  • The notes will be sold to investors at 100.00% plus accrued interest, if any, from April 4, 2024.
  • The closing of the Offering of the notes is expected to occur on or about April 4, 2024, subject to customary closing conditions.

Home Charging Satisfaction a Bright Spot among Electric Vehicle Owners, J.D. Power Finds

Retrieved on: 
Tuesday, March 26, 2024
Vehicle Technology, EV, Electric Vehicles, Professional Services, Alternative Vehicles, Fuels, General Automotive, Apps, Applications, Technology, Aftermarket, Automotive, Data Analytics, Automotive Manufacturing, Other Technology, Manufacturing, Bev, Benchmarking, EVX, Chemical oxygen demand, Wi-Fi, EVS, Level 2, Internet, Research, J.D. Power, Level 1, Multimedia, Electric battery

Power 2024 U.S. Electric Vehicle Experience (EVX) Home Charging Study,SM released today.

Key Points: 
  • Power 2024 U.S. Electric Vehicle Experience (EVX) Home Charging Study,SM released today.
  • Power 2024 U.S. Electric Vehicle Experience (EVX) Home Charging Study (Graphic: Business Wire)
    “In contrast to public charging, home charging is the ultimate convenience for owners to charge their EV,” said Brent Gruber, executive director of the EV practice at J.D.
  • Charging speed remains a key differentiator: Charging speed is the most substantial differentiating factor of owner satisfaction between Level 1 and Level 2 chargers.
  • For more information about the U.S. Electric Vehicle Experience (EVX) Home Charging Study, visit https://www.jdpower.com/business/automotive/electric-vehicle-experience-... .

BYD Rolled Off Its 7 Millionth New Energy Vehicle

Retrieved on: 
Monday, March 25, 2024
Technology, Aftermarket, Automotive, General Automotive, Other Energy, Alternative Vehicles, Fuels, Vehicle Technology, Energy, Green Technology, Automotive Manufacturing, Manufacturing, Other Automotive, Environment, Batteries, EV, Electric Vehicles, Performance & Special Interest, Autonomous Driving, Vehicles, NEV, Multimedia, BYD, NEVS, Automotive industry

On March 25th, BYD, the world's leading manufacturer of new energy vehicles and power batteries, became the world's first automaker to roll off its 7 millionth new energy vehicle, the DENZA N7, which was unveiled at its Jinan factory in China, symbolizing another groundbreaking accomplishment for the brand.

Key Points: 
  • On March 25th, BYD, the world's leading manufacturer of new energy vehicles and power batteries, became the world's first automaker to roll off its 7 millionth new energy vehicle, the DENZA N7, which was unveiled at its Jinan factory in China, symbolizing another groundbreaking accomplishment for the brand.
  • View the full release here: https://www.businesswire.com/news/home/20240325602328/en/
    BYD rolled off its 7 millionth NEV (Photo: Business Wire)
    BYD reached the production of 1 millionth NEV in May 2021 and rapidly multiplied this figure threefold within 18 months, then surpassed 5 million units in merely 9 additional months.
  • In just 7 months from this mark, BYD accelerated to the 7 million milestone, showcasing a robust end-to-end supply chain and the effect of scale.
  • This year, BYD also becomes the official partner of UEFA European Football Championship 2024™, showcasing its new energy vehicles on the world stage.

EV Owners Uninformed of Faster Tire Wear, Leading to Lower Satisfaction, J.D. Power Finds

Retrieved on: 
Monday, March 25, 2024
Retail, Automotive Manufacturing, Data Management, Manufacturing, Technology, Marketing, Communications, EV, Electric Vehicles, Professional Services, Tires & Rubber, Luxury, Aftermarket, Automotive, Software, Data Analytics, EVS, Torque, Benchmarking, BFGoodrich, Michelin, Falken, J.D. Power, Restaurant

The satisfaction gap with original equipment tires between electric vehicles (EVs) and gas-powered vehicles is widening, as EV owners say their tires are wearing faster, according to the J.D.

Key Points: 
  • The satisfaction gap with original equipment tires between electric vehicles (EVs) and gas-powered vehicles is widening, as EV owners say their tires are wearing faster, according to the J.D.
  • Original Equipment Tire Customer Satisfaction Study℠, released today.
  • The study shows that EV owners have similar expectations of tire wear as do owners of gas-powered vehicles, despite EV tires naturally wearing faster due to greater vehicle weight and higher torque.
  • Original Equipment Tire Customer Satisfaction Study measures tire owner satisfaction in four areas (in order of importance): tire ride; tire wear; tire traction/handling; and tire appearance.

PHINIA Announces Proposed Private Offering of $425,000,000 of Senior Secured Notes Due 2029

Retrieved on: 
Monday, March 25, 2024
Vehicle Technology, Engineering, Aftermarket, Automotive, Automotive Manufacturing, Manufacturing, Alternative Vehicles, Fuels, Person, Sale, Regulation, Offering, Security (finance)

PHINIA Inc. (“PHINIA” or the “Company”) (NYSE: PHIN) announced today that it is planning, subject to market and other customary conditions, to offer (the “Offering”) $425 million aggregate principal amount of its senior secured notes due 2029 (the “notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).

Key Points: 
  • PHINIA Inc. (“PHINIA” or the “Company”) (NYSE: PHIN) announced today that it is planning, subject to market and other customary conditions, to offer (the “Offering”) $425 million aggregate principal amount of its senior secured notes due 2029 (the “notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).
  • The notes will be guaranteed by each of the Company’s subsidiaries that guarantees its credit facilities.
  • The notes and the guarantees will be secured by first-priority security interests in substantially all of the Company’s and the guarantors’ assets, subject to certain excluded assets, exceptions and permitted liens, which security interests will rank equally with the security interests securing its credit facilities.
  • The Company intends to use the net proceeds of the Offering to repay all of its outstanding borrowings under its term loan B facility and to pay a portion of the fees and expenses in connection with the Offering.

CarMax Announces Fourth Quarter Conference Call

Retrieved on: 
Wednesday, March 20, 2024
Aftermarket, Retail, Automotive, General Automotive, Other Automotive, Specialty, Telephone, Webcast, KMX, CFO

CarMax, Inc. (NYSE:KMX) will report its financial results for the fourth quarter ended February 29, 2024 before the market opens on April 11, 2024, and it will host a conference call with investors at 9:00 a.m.

Key Points: 
  • CarMax, Inc. (NYSE:KMX) will report its financial results for the fourth quarter ended February 29, 2024 before the market opens on April 11, 2024, and it will host a conference call with investors at 9:00 a.m.
  • Participants on the call will include Bill Nash, president and CEO, Enrique Mayor-Mora, executive vice president, CFO and Jon Daniels, senior vice president, CAF Operations.
  • The live conference call can be accessed by dialing (800) 225-9448 (or (203) 518-9708 for international access) and entering the conference ID 3171396.
  • A live audio webcast also will be available at investors.carmax.com .

Automated driving: Volkswagen Group intensifies collaboration with Mobileye

Retrieved on: 
Wednesday, March 20, 2024
Software, Vehicle Technology, Hardware, Data Management, General Automotive, Aftermarket, Technology, Autonomous Driving, Vehicles, Automotive, Artificial Intelligence, Other Automotive, Other Technology, Development, Volkswagen Group, Partnership, Volkswagen, Level 2, Volkswagen Commercial Vehicles, Transport, Architecture, Research and development, Safety, Multimedia, Level 4, SSP, Industrial design

The Volkswagen Group is welcoming further strategic collaboration and significantly accelerating its development efforts in the field of automated and autonomous driving.

Key Points: 
  • The Volkswagen Group is welcoming further strategic collaboration and significantly accelerating its development efforts in the field of automated and autonomous driving.
  • Mobileye is to provide technologies for partially and highly automated driving based on its Mobileye SuperVision and Mobileye Chauffeur platforms.
  • In the future, Mobileye is set to also provide technologies for driving functions with enhanced Level 2 capabilities ('partially automated driving') within the Volkswagen Group.
  • Volkswagen ADMT, a Volkswagen Group subsidiary, will implement these components in fully electric development platforms based on the Volkswagen ID.

New Orleans RTA Selects Allison eGen Flex®-Equipped New Flyer Electric Hybrid Buses

Retrieved on: 
Wednesday, March 20, 2024
EV, Electric Vehicles, Aftermarket, Automotive, Other Transport, Public Transport, Performance & Special Interest, Vehicle Technology, Transport, Flex, Allison Transmission, Noise, Original equipment manufacturer, Partnership, Air conditioning, Carbon, RTA, North Ronaldsay sheep, Transmission

Allison Transmission, in partnership with New Flyer, a leading bus manufacturer in North America, is proud to announce the selection of Allison-equipped electric hybrid buses by the New Orleans Regional Transit Authority (RTA).

Key Points: 
  • Allison Transmission, in partnership with New Flyer, a leading bus manufacturer in North America, is proud to announce the selection of Allison-equipped electric hybrid buses by the New Orleans Regional Transit Authority (RTA).
  • The New Flyer buses equipped with the Allison eGen Flex® electric hybrid propulsion system will provide a more sustainable transportation solution to the city of New Orleans.
  • View the full release here: https://www.businesswire.com/news/home/20240320302331/en/
    In support of the city's emergency preparedness plans, the New Orleans Regional Transit Authority (RTA) selected Allison's eGen Flex® electric hybrid propulsion system, in part, for its dependable rechargeable energy storage capabilities.
  • In addition, the electric hybrid solution allows buses to operate accessories, such as air conditioning and heat, at optimal efficiency with clean and quiet electric power.