FutureTech Auto, an automotive aftermarket distributor of vehicle electrification training products, tools and support solutions, announced it is offering automotive software and electronics boot camps.
Demand for replacement auto parts is generally driven by two major factors and two lesser but still important factors—the age of vehicles on the road, miles driven, weather and gas prices. So, here's a look at each factor.
Selling about $50 million worth of parts it makes each year, Lucerne International isn't a top-tier auto supplier. Because the company doesn't have "deep pockets," according to CEO Mary Buchzeiger, long-term contracts with its customers block it from passing higher raw material costs or tariffs on to them. And Lucerne's profit margins are too thin to absorb the higher costs.
Businesses affected by the auto parts industry, including collision repair shops, could scramble to cope with President Donald Trump’s tariffs on imported Chinese materials and goods, especially as those tariffs could limit where auto parts retailers can source their parts.