Teijin Automotive Systems starts Huntington, Indiana facility growth

Pictured from remaining to suitable: Huntington County commissioner Rob Miller Marla Foster, representing Indiana Condition Senator Andy Zay Mark Wickersham, executive director Huntington County Financial Enhancement Corp. Michael Senerius, chief promoting officer, Teijin Automotive Systems Huntington Mayor Richard Strick Steve Rooney, CEO, Teijin Automotive Systems Linda Walczak, Indiana Financial Growth Corp. Chris Crabtree, representing United States Agent Jim Banking institutions Jerry Reid, regional operations director, Teijin Automotive Systems. Photo Credit score: Business Wire)

Teijin Automotive Systems (Auburn Hills, Mich., U.S.) broke ground on May perhaps 12 to develop the abilities at its Huntington, Ind., facility, including a topcoat line and assembly place. These additions are reported to enrich the capabilities of the company’s Huntington facility, which currently include things like compression molding, bonding, water jetting, sanding and priming.

Specifically, Teijin Automotive Systems ordered 30 acres in the new Riverfork West Industrial Heart and will be making a 164,400 sq.-foot facility on this internet site to house a new paint line and assembly capabilities. This facility will be found throughout Indiana Freeway 9 from the company’s existing 350,000 square-foot producing facility. The new facility is predicted to be comprehensive, together with all tools installation, by Dec. 2023, and will utilize approximately 110 folks when operations commence in April 2024, and additional than 200 at full employment.

“As desire for our modern, light-weight parts continues to increase, we have the prospect to increase capabilities and ability to fulfill present-day and long term client wants,” Steve Rooney, Teijin Automotive Technologies CEO, and common supervisor of Teijin’s Composites Organization Device, notes. “This site close to to our existing Huntington facility designed perception due to the fact there was land accessible, and we realized we could access a expert workforce. We are grateful for the ongoing guidance and collaboration from the financial enhancement teams from the State of Indiana, Huntington County, and the Huntington neighborhood.”

Teijin Automotive Systems and its mother or father business, Teijin Ltd. (Tokyo, Japan), are building an financial investment of more than $100 million, including the land, constructing and tools, to help future expansion and maintain its competitive advantage. The Huntington place was selected for this expansion based mostly on a variety of factors, such as the availability of a competent workforce, proximity to a variety of current and prospective client amenities in Indiana and surrounding states and tax credits made available by means of the Indiana Financial Growth Corporation’s EDGE Method (Financial Progress for a Escalating Financial system).

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Interior Car Accessories Market Dynamic Business Strategy Covers by Raising Growth CAGR of 5.6% by 2028 | Pioneer Corporation, Star Automotive Accessories, Garmin Ltd., H.I. Motors, Pecca Group Berhad, Covercraft Industries

Interior car accessories are automotive accessories that are used to improve the interior appearance of the vehicle. Car seat cover, sound insulation, car pillow, door panels, interior trims, cockpit modules, steering wheel covers, headliners, stereos, speakers, security features, a navigation system, car mats, etc. are some of the interior car accessories.

The global Interior Car Accessories Market was accounted for US$ 202,938.9 Mn in terms of value and 803,8563.5 Thousand Units in 2019 and is expected to grow at CAGR of 5.6% for the period 2020-2027.

As the report proceeds further, it covers the analysis of key market participants paired with development plans and policies, production techniques, and price structure of the Interior Car Accessories Market. The report also identifies the other essential elements such as product overview, supply chain relationship, raw material supply and demand statistics, expected developments, and profit and consumption ratio.  
The key features of the Interior Car Accessories Market report 2022-2027 are the organization, extensive amount of analysis and data from previous and current years as well as forecast data for the next five years. Most of the reports are made up of tables, charts and figures that give our clients a clear picture of the Interior Car Accessories Market. The structure of Interior Car Accessories Market by identifying its various segments and sub-segments to help understand the report.

𝗧𝗼 𝗞𝗻𝗼𝘄 𝘁𝗵𝗲 𝗟𝗮𝘁𝗲𝘀𝘁 𝗧𝗿𝗲𝗻𝗱𝘀 𝗮𝗻𝗱 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗣𝗿𝗲𝘃𝗮𝗹𝗲𝗻𝘁 𝗶𝗻 𝘁𝗵𝗲 𝗣𝗿𝗲𝘀𝘀 𝗥𝗲𝗹𝗲𝗮𝘀𝗲 @
https://www.coherentmarketinsights.com/insight/request-pdf/3904

Reasons to Buy this Interior Car Accessories Market  Report:

Save time carrying out entry-level research by identifying the size, growth, and leading players in the emerging Interior Car Accessories Market
➡Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the emerging Interior Car Accessories Market
➡Leading company profiles reveal details of key Interior Car Accessories market players emerging five operations and financial performance
➡Add weight to presentations and pitches by understanding the future growth prospects of the emerging Interior Car Accessories Market  with five-year historical forecasts
➡Compares data from North America, South America, Asia Pacific Europe and Middle East Africa, alongside individual chapters on each region.

𝗞𝗲𝘆 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀: Momo Srl, Pioneer Corporation, Star Automotive Accessories, Garmin Ltd., H.I. Motors, Pecca Group Berhad, U.S. Auto Parts Network, Inc., Covercraft Industries, LLC, O’Reilly Auto Parts, Lloyd Mats, CAR MATE MFG. CO., Ltd., and Classic Soft Trim.

𝗪𝗮𝗻𝘁 𝘁𝗼 𝗟𝗲𝗮𝗿𝗻 𝗠𝗼𝗿𝗲 𝗔𝗯𝗼𝘂𝘁 𝘁𝗵𝗶𝘀 𝗠𝗮𝗿𝗸𝗲𝘁 𝗚𝗿𝗼𝘄𝘁𝗵? 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗳𝗼𝗿 𝗮 𝗦𝗮𝗺𝗽𝗹𝗲 𝗡𝗼𝘄 @
https://www.coherentmarketinsights.com/insight/request-sample/3904 

Key Drivers

Strong growth in automotive industry due to increasing sale of vehicles is a prime factor propelling growth of the interior car accessories market. According to the India Brand Equity Foundation, in FY21, passenger vehicles sales reached 27.11 lakhs units, two-wheelers reached 151.19 lakhs units, commercial vehicles sales reached 5.69 lakhs units and for three-wheelers it was 2.16 lakhs units. In 2019-20, the total passenger vehicles sales reached ~2.8 million, while ~2.7 million units were sold in FY21.

Rising popularity of multimedia car accessories is again fostering growth of the market. For instance, in October 2021, Harman

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World Automotive Plastics Marketplace (2022 to 2027) – Industry Trends, Share, Size, Growth, Option and Forecasts – ResearchAndMarkets.com

DUBLIN–(Organization WIRE)–The “Automotive Plastics Sector: Worldwide Sector Tendencies, Share, Measurement, Growth, Prospect and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s giving.

The world automotive plastics industry reached a value of US$ 38.7 billion in 2021. On the lookout ahead, the sector is projected to access a price of US$ 51.65 billion by 2027, exhibiting a CAGR of 4.60% through 2022-2027.

Providers Talked about

  • Asahi Kasei Corporation
  • BASF SE
  • Borealis AG
  • Covestro AG
  • Dow Inc.
  • Koninklijke DSM N.V.
  • Lanxess AG
  • Lear Company
  • LyondellBasell Industries N.V.
  • Saudi Fundamental Industries Company
  • Solvay S.A
  • Teijin Confined

Trying to keep in head the uncertainties of COVID-19, the analyst is continually tracking and assessing the immediate as effectively as the indirect influence of the pandemic. These insights are included in the report as a key market place contributor.

Automotive plastics contain polypropylene (PP), polyurethane (PU), polyvinyl chloride (PVC), acrylonitrile butadiene styrene (Abdominal muscles), nylon, polyethylene (PE), polyoxymethylene (POM) and polycarbonate (Computer system). These plastics guide in extending the life of automobiles, increasing design and style adaptability, lowering manufacturing expenses and easing integration of components. In addition to this, they also assistance decrease the bodyweight of cars by changing hefty supplies, such as metallic and glass, to preserve vitality and improve fuel effectiveness.

There is at present a increase in the revenue of electric powered and hybrid motor vehicles (EVs/HVs) close to the world. This signifies 1 of the key variables propelling the progress of the market place. Additionally, automotive plastics uncover apps in the output of fuel tanks, carpet fibers, wheel addresses, suspension bushings, dashboards, headlamp lenses, truck bed liners, mud flaps, bumpers, and gears. In addition, there is an raise in the use of synthetic coatings on metallic surfaces to limit the danger of corrosion triggered by salt damage, higher heat and water exposure. Aside from this, nylon is utilized for production seat belts and airbags on account of its tear-resistant attributes. This, alongside with the escalating demand from customers for lightweight and reasonably priced motor vehicles, is positively influencing the sector.

Aside from this, foremost gamers are relying on bio-dependent plastics and polymers as an alternative of fossil-primarily based plastics to cut down their carbon footprint and market sustainability. Additionally, they are using recycled plastics for manufacturing seat cushions, substitution bumpers, splash guards, and wheel liners. This, coupled with the burgeoning plastics marketplace, is augmenting the all round income and profitability. Other components facilitating the advancement of the market place involve technological advancements and in depth analysis and growth (R&D) routines financed by car brands.

Important Inquiries Answered in This Report

  • How has the international automotive plastics current market performed so much and how will it accomplish in the coming decades?
  • What has been the impact of COVID-19 on the world wide automotive plastics industry?
  • What are the essential regional marketplaces?
  • What is the breakup of the market dependent on the automobile sort?
  • What is the break up of the marketplace based mostly on the materials?
  • What is the breakup of
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Asbury Automotive Group Reports All-Time Record EPS of $10.38, for First Quarter 2022, up 117% Over Prior Year, and Announces Update to Strategic Growth Plan

DULUTH, Ga.–(BUSINESS WIRE)–Asbury Automotive Group, Inc. (NYSE: ABG) (the “Company”), one of the largest automotive retail and service companies in the U.S., reported record first quarter 2022 net income of $237.7 million ($10.38 per diluted share), an increase of 156% from $92.8 million ($4.78 per diluted share) in the prior year quarter.

“In the first quarter, our legacy Asbury and recently acquired stores contributed to the Company generating all-time record adjusted EBITDA, which increased 139% to $336 million. We are excited about our expanded dealership portfolio and our team members, all of whom have done an outstanding job. The strategic fit of the acquisitions we made in 2021 is clear and we believe that we are now on pace to generate $16 billion in revenue in 2022, a 63% increase over 2021. We have updated our strategic growth plan to reflect our new target of $32 billion in revenue in 2025. Our first quarter results reaffirm our belief that we can achieve our updated 2025 plan,” said David Hult, Asbury’s President and Chief Executive Officer.

“We see tremendous opportunity ahead of us as we roll out Clicklane to our acquired dealerships and integrate Total Care Auto, Powered by Landcar, or TCA, into the legacy Asbury stores. We expect these actions, along with a more optimized dealership portfolio, will allow Asbury to expand its market share, increase productivity and improve the purchasing, servicing and ownership experience of our guests.”

The financial measures discussed below include both GAAP and adjusted (non-GAAP) financial measures. Please see reconciliations for non-GAAP metrics included in the accompanying financial tables.

First quarter 2022 adjusted net income, a non-GAAP measure, increased 134% year-over-year to $212.2 million ($9.27 per diluted share) compared to adjusted net income of $90.7 million ($4.68 per diluted share) in first quarter 2021. Adjusted net income for first quarter 2022 excludes gains, net of tax, of $25.5 million ($1.11 per diluted share) related to a $33.1 million ($1.08 per diluted share) gain on the sale of four dealerships and a $0.9 million ($0.03 per diluted share) sale-leaseback real estate gain.

Net income for the first quarter 2021 was adjusted for the following pre-tax items: gain on legal settlements of $3.5 million ($0.14 per diluted share), gain on sale of real estate of $1.1 million ($0.03 per diluted share), and other real estate related charges of $1.8 million ($0.07 per diluted share).

First Quarter 2022 Operational Summary

Total company vs. 1st Quarter 2021:

  • Revenue of $3.9 billion, an increase of 78%
  • Gross profit increased 107%
  • Gross margin increased 270 bps to 20.2%
  • New vehicle unit volume increased 44%; new vehicle revenue increased 61%; gross profit increased 197%
  • Used vehicle retail unit volume increased 63%; used vehicle retail revenue increased 100%; gross profit increased 102%
  • Finance and insurance revenue increased 130%; gross profit increased 118%
  • Parts and service revenue increased 92%; gross profit increased 70%
  • SG&A as a percentage of gross profit fell to 57.5%, a decrease of 520 bps
  • Operating income increased 135%; adjusted
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CDK Global’s $8.3 billion offer to go private could accelerate growth

Brookfield Business Associates is a unit of world wide different asset administration company Brookfield Asset Management’s personal fairness team.

Brookfield will purchase all of CDK’s fantastic shares, and CDK shareholders will acquire $54.87 per share in cash when the transaction closes, which is anticipated in the third quarter, CDK claimed. The value would mirror a 30 per cent high quality to CDK’s closing share price Feb. 18, which the firm claimed was the previous entire day of trading prior to industry speculation began about a doable sale.

The company did not disclose details about its procedure of trying to get bids, other than that CDK’s board viewed as “strategic and fiscal alternatives more than numerous months” right before deciding upon Brookfield.

In a information release, Brookfield stated CDK is appealing for its current market leadership its recurring, subscription-based income streams the opportunity for upside amid consolidation in auto retail and what it mentioned are “significant options” to increase CDK’s worth.

“We are excited to increase our technologies footprint with the acquisition of CDK Global, and we glance ahead to leveraging our working abilities to develop on the firm’s keep track of report of supplying best-in-course client support and innovation,” Doug Bayerd, Brookfield Business Partners’ running director, mentioned in a assertion.

A Brookfield consultant did not reply to a request for supplemental remark. Tautges mentioned conclusions about CDK’s leadership group had not been manufactured ahead of the transaction closing.

Analysts who adhere to CDK informed Automotive Information that the corporation has been investing in developing its product or service lineup, but that technique has not aligned with trader anticipations.

“The enterprise was not obtaining rewarded for what they were being carrying out,” reported Gary Prestopino, managing director at Barrington Study, who follows CDK.

Shareholders of a community company want to see constant earnings advancement, Prestopino reported, which does not always manifest when the enterprise is investing for the future.

“This is the very best possible consequence, I feel, for the govt workforce of CDK in conditions of using it out of the community eye, getting able to develop this factor about the up coming few several years with no possessing to stress about conference quarterly financial commitment expectations,” he said. “And in a pair of several years, they may possibly have it in which they need to have it to be, and they could choose it public yet again, or it may well be a non-public fairness trade.”

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Automotive Technologies Market Size to grow by USD 134.06 bn | Rising Adoption of ADAS Features in Vehicles to Boost Growth

NEW YORK, Nov. 26, 2021 /PRNewswire/ — The automotive technologies market will be driven by the rising adoption of ADAS features in vehicles. The market is expected to grow by USD 134.06 bn from 2020 to 2025. According to Technavio, the growth momentum of the market will decelerate at a CAGR of 11.04%. The report offers an up-to-date analysis as well as exact growth variance and Y-O-Y growth rate.

Attractive Opportunities in Automotive Technologies Market by Component and Geography – Forecast and Analysis 2021-2025

Request a Free Sample Report to explore growth opportunities in the automotive technologies market

The automotive technologies market is fragmented, and the degree of fragmentation will decelerate during the forecast period. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The automotive technologies market report covers the following areas:

Automotive Technologies Market 2021-2025: Segmentation

Download a Free Sample to learn about the contribution of each segment of the market

Automotive Technologies Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources.

The rising adoption of ADAS features in vehicles, the increasing adoption of electronics-based driving comfort and safety systems, and intervention of innovative technologies for advanced UI will offer immense growth opportunities. However, lack of standard protocols, lack of connected infrastructure, and delay in luxury of ongoing updates and amendments will challenge the growth of the market participants.

Automotive Technologies Market 2021-2025: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the automotive technologies market, including Continental AG, DENSO Corp., HELLA GmbH and Co. KGaA, Intel Corp., NVIDIA Corp., NXP Semiconductors NV, Renesas Electronics Corp., Robert Bosch GmbH, Xilinx Inc., and ZF Friedrichshafen AG. Backed with competitive intelligence and benchmarking, our research report on the automotive technologies market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Subscribe to our “Lite Plan” billed annually at USD 3000 that enables you to download 3 reports/year and view 3 reports/month.

Automotive Technologies Market 2021-2025: Regional Analysis

Technavio offers an up-to-date analysis of the geographical composition of the market as well as competitive intelligence and regional opportunities for vendors. Based on our research, APAC is expected to dominate the market during the forecast period. The region will account for 53% of the market’s growth. China, Japan, and South Korea (Republic of Korea) are the key countries for the automotive technologies market in the region. APAC has been recording a significant growth rate. Hence, it is expected to offer several growth opportunities to market vendors during the forecast period. The increasing adoption of electronics-based driving comfort and safety systems will drive the automotive technologies market growth in APAC.

Automotive Technologies Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025

  • Detailed information on factors that will assist automotive

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