This week's automotive industry updates include Alchemy Labs expanding windshield film protection to 40 vehicle models, AutoZone opening 175 stores including Mega Hubs for professional customers, Tuhu acquiring Australian service chain mycar for A$403 million, and LKQ Europe launching an online technician training platform across Europe.
- Alchemy Labs doubled windshield film coverage from 20+ to 40+ vehicle models, adding major GM trucks and SUVs like Silverado, Sierra, Tahoe, and Escalade
- AutoZone opened 175 stores including 16 Mega Hubs, with professional customer sales up 10.6% annually and operating profit increasing 10.1% to US$1.3 billion
- Tuhu agreed to acquire Australian service chain mycar for A$403 million, gaining 280 locations and 1,600+ employees in a high-growth market
- LKQ Academy launched online training platform in U.K. and Ireland with 70,000+ registered users and 2,000+ courses, targeting full European rollout by 2027
In this week’s Tuesday Ticker, more windshields receive film protection, a parts retailer adds large distribution stores, an Australian repair chain changes hands and technician training moves online.
More models under glass
A Canadian developer of protective materials has roughly doubled the number of vehicles covered by its pre-cut windshield-film kits.
Kitchener, Ont.-based Alchemy Labs develops protective materials for the automotive and defence industries. Its ExoShield ULTRA Pro film is applied to windshields to reduce damage from rock chips and road debris.
The product line now covers more than 40 vehicle models across 17 kits, up from more than 20 models in August.
New applications include Chevrolet Silverado and GMC Sierra pickups, as well as the Chevrolet Tahoe, Chevrolet Suburban, GMC Yukon and Cadillac Escalade. Alchemy also added kits for the Ineos Grenadier and Quartermaster.
Each kit is cut and pre-shrunk for a particular vehicle. This reduces the preparation required before installation.
“The addition of major GM pickup and SUV platforms meaningfully broadens the market available to our installer partners,” CEO Khanjan Desai said.
Alchemy shares closed at $0.88 on Sept. 23, down $0.02 or 2.22%.
Bigger hubs for commercial growth
A U.S. automotive parts retailer has expanded its store network as sales to professional repair businesses continue to grow.
Memphis, Tenn.-based AutoZone sells replacement parts, maintenance products and accessories. It supplies individual vehicle owners as well as repair garages, dealerships, service stations and fleet operators.
AutoZone reported fiscal fourth-quarter sales of US$6.6 billion, an increase of 5.6% from the same period last year. Sales to professional repair customers at U.S. locations increased 8.6% during the quarter and 10.6% over the full year.
Executives opened 175 stores during the quarter, including 16 U.S. Mega Hubs. These larger locations carry additional inventory to supply professional customers and nearby AutoZone stores more quickly.
AutoZone finished the quarter with 8,031 locations across the United States, Mexico and Brazil. It does not operate stores in Canada.
The company also owns ALLDATA, which provides diagnostic information, repair procedures, collision repair information and shop-management software.
“We continue to improve our speed of delivery and are intently focused on exceptional customer service,” CEO Phil Daniele said.
Operating profit increased 10.1% to US$1.3 billion. Gross margin increased by 1.82 percentage points, including a 1.45-percentage-point benefit from tariff refunds.
AutoZone shares closed at US$2,894.73 on Sept. 22, up US$91.48 or 3.26%.
Australia’s A$403-million handover
A German tire and automotive-parts manufacturer has agreed to sell one of Australia’s largest vehicle service chains to a Chinese aftermarket operator.
Hanover, Germany-based Continental manufactures tires, braking systems and other automotive components. Its Australian subsidiary, mycar Tyre & Auto, operates approximately 280 service locations and employs more than 1,600 people.
Shanghai-based Tuhu provides automotive maintenance, repairs and tire services through a combination of online booking and physical workshops. Its Chinese network included 8,825 workshops as of June 30 and served approximately 31 million customers during the preceding 12 months.
Tuhu has agreed to acquire mycar for A$403 million, or approximately €250 million. The transaction remains subject to regulatory approval.
Mycar provides scheduled maintenance, tire replacement, brake and suspension work, battery service and general mechanical repairs. It does not operate collision repair facilities.
Continental will continue supplying tires through the mycar network after the sale. Continental officials said the transaction forms part of a plan to concentrate the tire division on product development and manufacturing.
“Australia is a highly attractive and promising market for automotive services,” Tuhu founder and CEO Min Chen said.
Continental shares closed at €69.18 on Sept. 24, down €0.64 or 0.92%.
Training moves online
A European automotive parts distributor has begun moving more technician training onto a common online platform.
Zug, Switzerland-based LKQ Europe distributes replacement parts to more than 100,000 independent workshops in at least 18 European countries. It also provides technical and business training through LKQ Academy.
The new Academy platform has launched in the U.K. and Ireland. LKQ Europe executives expect the rollout across Europe to be completed by 2027.
LKQ Academy has more than 70,000 registered users. Its catalogue includes more than 2,000 courses across 13 markets in 10 languages.
Technicians can use the platform at any time to complete online courses or book in-person instruction. Their training records remain attached to their individual profiles if they change employers.
LKQ Academy is also developing a course with French automotive supplier Valeo. The proposed program would combine online lessons, regional practical training and a follow-up webinar covering electrification, new powertrains and advanced driver assistance systems.
“Workshops need to keep pace with rapidly changing vehicle technology, but taking technicians away from the ramp for training is not always straightforward,” LKQ Academy lead Domenico Ferrara said.
The platform rollout currently applies only to Europe. No Canadian launch has been announced. LKQ entered the Canadian aftermarket when it acquired Canadian parts distributor Uni-Select in 2023.
LKQ shares closed at US$23.43 on Sept. 23, down US$0.16 or 0.68%.
