Billionaire investor Carl Icahn disclosed a 12-percent ownership stake in Pep Boys and said that Auto Plus, a competitor which he owns, should consider buying the retail parts giant, Bloomberg reported.
In October, Bridgestone offered to purchase Pep Boys’ 800 company-owned stores for $835 million to add to its portfolio of 2,200 stores including Tires Plus, Firestone Complete Auto Care, Hibdon Tires Plus and Wheel Works. The acquisition would create the largest chain of automotive service centers, yet many analysts say Bridgestone may be preparing Pep Boys for a potential sale already.
That tender offer from Bridgestone will expire Jan. 4, according to the report.
That moment you realize the oldest car in the parking lot is yours.
Yeah, I just had that moment.
The car in question is a 2001 Honda Accord EX. Four-door. Five-speed. A dodo bird of a used car stuck in today’s finance driven market. I walked around the parking lot you see above trying to find one vehicle, any vehicle, that’s as old as mine.
The blue ’05-ish Caravan on the bottom left came a bit close, but it didn’t happen. Instead, everything else seemed to be on the younger side of the curve, the overwhelming majority of vehicles sold new at a later time in history.
In today’s digest: General Motors issues another ignition-related recall; has fixed a handful of those affected by the original ignition recall; and unveils plans for three new compacts to be sold in emerging markets.
TTAC commentator AMC_CJ writes:
My retired mother has come to the conclusion that she needs a 2nd car. Currently she has a 06′ Trailblazer that she keeps in mint condition, and despite having issues with the headlights going out automatically, and a lengthy dealing with GM, it’s been a good vehicle (and to GM’s credit, we think they finally found and fixed the problem with little expense to her). She loves her Trailblazer and it’s perfect for running up to our homestead in WV. But it’s the only car she has, and when it was in the shop recently it left her with a sub-par loaner she couldn’t drive very far. When I lived at home, I lent my parents a vehicle out of my own fleet when they needed. (Read More…)
A couple of years ago, my car died in the middle of the night while at a friend’s house. The tow fees to my house and then to my mechanic ended up costing more than the alternator replacement itself. I still cringe to this day when I think about the final sum, and a service like YourMechanic.com would have made things a lot easier on my wallet and my sanity.
Whether you drive a $30,000 or a $1,500 a car, one variable in life stays constant.
You want to minimize your costs.
Selling overpriced “Original” parts can be like printing money. I know carmakers that generate 30 percent of their profits out of parts sales. How do you drive parts sales? By forcing customers to stay as long as possible with your dealer, a money pit the customer tries to flee as early and as quickly as possible. The golden fleece in the business are repairs only an authorized dealer can perform, using overpriced parts only the authorized dealer has. Countless attempts have been made to break this monopoly. Another attempt is on the way. (Read More…)
In case you missed it, Paul Niedermeyer’s excellent overview of Lincolns greatest hits and misses is worth a second look, considering the “firsts” attributed to the Lincoln brand: halogen lights and clear coat paint (Versailles), gas charged shocks and auto dimming rear view mirrors (Fox Continental), composite headlamps (Mark VII) and the industry’s first use of High Intensity Discharge (HID) lights in the Lincoln Mark VIII. And while some innovations quickly spread elsewhere, Lincoln’s HID system was outdated and orphaned in less than a decade. If you are crazy enough to drive an HID-equipped Mark today, finding a new bulb for less than $600 is impossible. And a used bulb fetches $100 or more on eBay. Such is life when you live on the bleeding edge far beyond anyone’s expectation.