National Bank Investments Inc. has acquired a 30% stake in Unimax Ltd., the company that manages several retail tire and automotive banners in Canada, including Point S. The deal has led to Unimax buying all shares of Distribution Stox Inc., its distributor.
The brothers who founded online tire seller Simple Tire LLC are both leaving behind their executive leadership roles with the company in 2022 to co-lead other businesses. For CEO Andy Chalofsky that will include partnering with Dealer Tire in a start-up venture.
Garage Equipment Supply, a distributor of automotive tools, has rebranded as Wrenchers. The company has also moved from California to Alabama and says it delivers to 98% of the U.S. with free shipping.
Auto Plus has joined the Aftermarket Auto Parts Alliance Inc., a global aftermarket distribution and marketing program group. Auto Plus brings 325 corporate stores, 21 distribution centers, and more than 4,000 team members.
A tire importer has filed a complaint with the Federal Maritime Commission alleging that Evergreen Group, one of the world’s largest maritime shippers, has exploited its customers and manipulated the market to increase prices and profits.
The U.S. Tire Manufacturers Association (USTMA) is projecting tire shipments in 2022 will surpass the record-setting numbers recorded in 2021. Overall, the group expects 5.1 million more tires will be shipped this year.
K&M Tire Inc. is on the cusp of opening its 32nd warehouse, and the tire distributor says it has one goal: to be the leading and most trusted provider in its markets and for its customers. It's working to do just that while also selling more tires and growing its footprint.
U.S. AutoForce LLC has finalized an agreement to acquire Max Finkelstein Inc. The deal is expected to close on Jan. 31. Max Finkelstein will operate as a division of U.S. AutoForce "under the management of the current leadership team," say U.S. AutoForce officials.
Pricing actions were frequent in 2021, and more have already rolled into the new year,. Analyst John Healy says on average those price hikes resulted in a 20% increase over 2020 prices. Interestingly, he says the cost to build an average tire went up 24% in 2021.
From surprise acquisitions to supply chain, pricing and labor challenges, 2021 delivered plenty of punches. Industry analyst John Healy has tracked them all and has insights for tire dealers of what issues will be the most important to monitor in the months ahead.
While the Supreme Court will hear arguments related to the Biden Administration's COVID-19 vaccine mandate on Jan. 7, the Occupational Safety and Health Administration is preparing to begin enforcing some parts of the rule just three days later. Employers with at least 100 workers need to pay attention to the details, which could change.
Harold Finkelstein, who grew up in the family business and became one of the owners and leaders of Max Finkelstein Inc., one of the nation’s largest independent wholesale tire distributors, has died. He was 86.