LONG BEACH, California - March 23, 2023
aftermarketNews has featured Michael Kitching it its March 2023 magazine cover story.
GB Remanufacturing is proud to announce that aftermarketNews has featured GB Remanufacturing President & CEO in the cover story of their March 2023 AMN/Counterman cover story.
The story features Michael Kitching's perspective on the aftermarket, how sustainability can and should be incorporated into our industry, and what opportunities we look forward to this year.
To read the full article, please click here. An excerpt is below.
What are your thoughts about the business environment for the aftermarket in 2023?
Michael Kitching: I’m not going to pretend to be an economist, but I can tell you with certainty that our business remains strong through the first two months of 2023, with solid growth expected for the remainder of the year. This is following an extremely strong 2022.
Historically, consumers keep their existing vehicles longer, drive more, and repair their vehicles themselves or at independent repair facilities in times of high inflation and/or recessionary times. This is all good news for the automotive aftermarket, and has been very good for our company in past similar economic cycles. As a remanufacturer in the aftermarket, we provide products to consumers and shops that allow them to save either themselves or their customers money, while offering them parts that meet or exceed OE specifications – two key advantages in economic uncertainty.
Supply chain, inflation and labor issues remain real for us. The supply chain is improving each and every month. We invested heavily in safety stock several years ago and that has helped us tremendously throughout the last few years. Raw material and freight costs continue to increase on a monthly basis, which is concerning. The labor market is unlike anything I’ve ever seen in the almost 37 years we’ve been in business. It’s very frustrating and concerning. I don’t see the labor situation getting any better with current legislation and the business climate in California, unfortunately.
About GB Remanufacturing, Inc.
Founded in 1986 and headquartered in Long Beach, CA, GB Remanufacturing, Inc. is the market leader in providing remanufactured OEM gasoline and diesel fuel injectors, injector components and diesel electronics to the automotive aftermarket.
Contact: Delaney Kitching
Marketing Manager, GB Remanufacturing