aftermarket

ConMet acquires maker of tractor-trailer gap-closing TruckWings

Tractor-trailer parts and components maker ConMet has acquired Truck Labs, the inventor of gap-closing TruckWings that create fuel savings through aerodynamics.

Truck Labs, founded in 2014 as XStream, will become a wholly owned subsidiary of Vancouver, Washington-based ConMet. Financial terms were not disclosed.

Becoming part of a major supplier could help Truck Labs move into OEM factories after operating mostly in the aftermarket.

Classic combination

“It’s classic in our industry. Some...

https://www.freightwaves.com/news/conmet-acquires-maker-of-tractor-trailer-gap-closing-truckwings

Rush Enterprises keeps momentum in softening Class 8 aftermarket

High interest rates and low freight rates slowed the growth of Class 8 aftermarket sales at Rush Enterprises in the third quarter. But the nation’s largest network of truck dealerships found plenty of offsets to support strong overall results.

Class 8 truck sales rose 3% compared with a year ago, a period of severe constraint as OEMs began to meet pent-up demand that mushroomed during the pandemic.

“Our over-the-road customers … are being negatively impacted by high interest rates, and low...

https://www.freightwaves.com/news/rush-enterprises-keeps-momentum-in-softening-class-8-aftermarket

Service and parts carry Rush Enterprises’ Q1 earnings

Revenue from parts and service more than covered the Q1 operating cost of Rush Enterprises Inc.’s (NASDAQ: RUSHA) chain of truck and bus dealerships, offsetting lower Class 8 truck sales.

The 122.6% absorption rate was nearly double the percentage of most car and truck dealers. The calculation is based on how much of a dealership’s operating cost is absorbed by fixed operations like service, aftermarket parts and collision repairs.

Fixed operations accounted for approximately 63% of Rush’s gross...

https://s29755.pcdn.co/news/service-and-parts-carry-rush-enterprises-q1-earnings

McFadyen tapped to lead Fairbanks Morse’s aftermarket business

Fairbanks Morse, Beloit, Wis., has named James (Jay) McFadyen as vice president and general manager of Aftermarket.

James McFadyen. Fairbanks Morse photo

“Jay’s experience leading global businesses through organizational and operational transformations will be a tremendous asset to Fairbanks Morse as we expand aftermarket services domestically and internationally,” George Whittier, CEO of Fairbanks Morse, said in a prepared statement. “He has a history of consistently delivering profit growth...

https://www.workboat.com/news/people-and-products/mcfadyen-tapped-to-lead-fairbanks-morses-aftermarket-business/