Global Automotive Aftermarket Symposium - A Review of Day Two

Thursday, May 20, 2010 by Guest Blogger
Here are several highlights from the second and final day of the Global Automotive Aftermarket Symposium (GAAS).
  • John Watt of Petro-Canada provided an interesting insight into why aftermarket service providers leave billions of unperformed maintenance on the table. It seems there is a lot of unsold business that can be corrected with just scheduling appointments regularly and consistently. 
  • A  Shop Owner Panel followed and was moderated by Bill Haas, Vice President – Educational and Training, ASA. This panel provided an informative look at how connecting a driver with their vehicle, other vehicles and the roadside infrastructure will impact aftermarket companies.
  • Jeff Henning of Ernst & Young discussed the impact of the OEMs on the aftermarket. It seems car dealers will look at doing more business in the aftermarket because of profitability concerns and lack of warranty work. 
  • Tony Cristello of BB&T Capital Markets provided a detailed look at the economy and the aftermarket. He commented on the strength of the aftermarket and how the aftermarket stocks outperformed the general stock market.  The economy is still in recovery mode and the forecast is optimistic for the aftermarket.
The symposium ended on a highly positive note with a call to action from the leadership group. They felt that we need to be represented with a "grass roots" campaign to contact legislators to make sure our industry is well represented. 

This year's GAAS event was truly outstanding. Thanks to everyone who stopped by the Polk booth this year. It was a pleasure seeing you!

Posted by Sam Okimoto, Account Representative, Aftermarket Team, Polk (05.20.2010)

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