Greddy Files Bankruptcy? Options

[BlackCelicaGT94]

http://www.autoblog.com/2008/09/10/japanes...res-bankruptcy/
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Japanese tuning firm Trust/Greddy declares bankruptcy

The market for aftermarket parts from Japan has been declining for well over five years, due in part to decreased demand both at home and abroad and the rising rates of Chinese knock-offs and other inexpensive (and dubiously built) components.


Today, one of the world's largest performance parts companies, known as Trust in Japan and Greddy here in the States, declared bankruptcy. According to various reports, Trust is approximately $60 million in debt and, after reporting a serious decline in sales since February 2008 and amassing $43 million in loan payments, filed for bankruptcy in Tokyo District Court.


Trust has been around since 1976, employs almost 200 workers and had been dealing in everything from CARB-legal exhausts to turbo systems when Greddy Performance Products was founded in the U.S. in 1994. There are several firms that will step up to fill the need of enthusiasts, assuming that Trust doesn't try to reorganize, but with the aftermarket industry down overall, we suspect this won't be the last time we'll here about a large tuner going under.

[Havok1997GT]

see. i dont get this. If anything i would have thought that the turning industry would be doing well with more people and new generations tuning. I mean i realize that a lot of car companies are offering proformance parts in house but still. not these kinda parts and they are way over priced in house.

[Random_Stranger]

Cash out when you can. The hobby is taking a major hit due to gas prices and the loss of jobs. Plus The crazy Swiss and French are trying to destroy the world with their Big Bang (recreation of). Chaos.

[GMan]

> Random_Stranger
> '95 GT Hatchback
> From Bakersfield, CA
> Plus The crazy Swiss and French are trying to destroy the world with their Big Bang
> (recreation of). Chaos.

WTF ?

$ due in part to decreased demand both at home and abroad
$ and the rising rates of Chinese knock-offs and other inexpensive (and dubiously built) components.


Blame the CHINESE, Motoria !

Regards;

[azian_advanced]

i'm sure more than five years ago, there wasnt a lot of competition as there is now. also, reverse engineering (or more specifically knock-off production) is happening more and more now. and big companies (like Greddy) who pay big $ for research & development are losing money because of this. not only car parts, but things like electronics such as cell phones are easily cloned as well.

[GriffGirl]

Yeah, it's totally the Chinese knock offs. Look at all the Hondas scooting around - the vast majority of them have Chinese knock off crap bolted up to them. It's the same story everywhere, I mean look around here in the US. We've lost significant amounts of domestic industry (and thus jobs) to cheap labor in China. Why would Japan be any differently affected?

That sucks. Hopefully they'll be able to reorganize. Bankruptcy doesn't mean it's all over, but it's not exactly happy tidings either.

[Tigawoods]

i heard about this a lil bit ago.

i can sell my sp1 for a pretty penny now

[azian_advanced]

even celica owners are contributing to the production of knock-off parts... zyclone (C-ONE), invader (Veilside), z-max (komax) are some bodykit suppliers to name a few. but of course not nearly as much as the rest of the import crowd.
it's even hard to tell if you're getting the real deal now a days unless you purchase from a licensed dealer.

[GriffGirl]

it's even hard to tell if you're getting the real deal now a days unless you purchase from a licensed dealer.

Exactly. It's like the entire world has become Canal Street (NYC) and fake Prada just doesn't scratch the surface any more

[Lil-Joe101]

All of you make a good point. Gas prices, knock offs, I mean the world is is pretty messed. I bet lil kids can't even sell lemonaide anymore because of the global stock market and the ecomony management. The world is gonna end but im bringin my 6gc with me when it does. lol

[forkee]

like it was said before, car companies are aware that aftermarket parts are in demand so they offer their own performance packages.

also think about supply and demand. greddy parts arent exactly one of a kind. only loyal customers would pay more for a part from them than similar parts for a way cheaper price.

the tuners of today are either loading up their cars with factory warranted dealer parts, buying alternative greddy parts, or buying used greddy parts, all of which do not give greddy a penny.

not to mention the us economy is in a spiraling downward slope. buying greddy is not even in the backs of peoples minds. why pay 4 times as much for fiji water when arrowhead works just as well.

i wont be crying for greddy

in the world of economics, i believe in the invisible hand