Trust/Greddy Japan files for bankruptcy - Page 4
Page 4 of 4 FirstFirst 1234
Results 46 to 60 of 60

This is a discussion on Trust/Greddy Japan files for bankruptcy within the News and Announcements forums, part of the Community - Meet other Enthusiasts category; Originally Posted by pzr2874 I understand none of you are wrinklesticks, but most of these companies can't be perfect ( ...

  1. #46
    Moderating YOU
    before you had your Subaru!
    Verdugo's Avatar
    Join Date
    Jan 2002
    Location
    Sea-Town, WA
    Posts
    13,307
    I Support ClubWRX
    Quote Originally Posted by pzr2874 View Post
    I understand none of you are wrinklesticks, but most of these companies can't be perfect ( trust me, I understand that ) I have had my issues from one company or another. I have been here and there, i'm not a newbie. Thank you for rectifying a bit w/me guys.

    Banned from NASIOC, WOW..... that's a bit tough. lol
    No worries, not every company can be perfect. And technically they weren't banned from NASIOC, but their contract for sponsorship expired and they weren't let back on. The vendor review thread for them on NASIOC keeps growing at 1,441 replies now.
    Armin - ClubWRX Admin/Moderator since 2002
    Senior Editor and Photographer, NWMotiv.com
    Photography Portfolios: ArminAusejo.com | ArminWeddings.com
    President, Project One Car Club
    02 WRX "EVA-00" | 2010 A4, still to be named | 02 M3 "M-Thrizzle" (traded in) | 08 STI "Blaze" (sold)
    djrez4 is a genius | ScoobyDMC #010

  2. Remove Advertisements
    ClubWRX.net
    Advertisements
     

  3. #47
    Registered User CGimpreza's Avatar
    Join Date
    Jan 2008
    Location
    Philadelphia, Pennsylvania, United States
    Posts
    272
    This is a sign I need to pay more attention to the aftermarket. I had no idea they were doing poorly.
    One day I'll have a truly awesome sig
    -------
    2004 impreza WRX
    uppipe, downpipe, ap, and a grin
    ~Blobeye syndicate~ #2007

  4. #48
    Moderating YOU
    before you had your Subaru!
    Verdugo's Avatar
    Join Date
    Jan 2002
    Location
    Sea-Town, WA
    Posts
    13,307
    I Support ClubWRX
    Quote Originally Posted by CGimpreza View Post
    This is a sign I need to pay more attention to the aftermarket. I had no idea they were doing poorly.
    It's not just Greddy that's hurting right now. Just about every manufacturer, whether based in Japan, Germany, Australia, or even here in the US is feeling the pinch. It's not like certain products are going out of style either, just the sheer number of products being sold has gone down drastically. After all, with our economy in the state that it is today, the first place people are going to save money is not buying that new turbo or set of coilovers.
    Armin - ClubWRX Admin/Moderator since 2002
    Senior Editor and Photographer, NWMotiv.com
    Photography Portfolios: ArminAusejo.com | ArminWeddings.com
    President, Project One Car Club
    02 WRX "EVA-00" | 2010 A4, still to be named | 02 M3 "M-Thrizzle" (traded in) | 08 STI "Blaze" (sold)
    djrez4 is a genius | ScoobyDMC #010

  5. #49
    Banned
    Join Date
    Oct 2008
    Posts
    6

    You guys need to know this:

    I used to work for a Japanese company. In order to take advantage of certain tax loopholes, Japanese companies make their profits TWICE.

    I'll explain.

    Using the model used by many Japanese companies doing business here, this is how it would work:

    Trust Japan sells to Greddy USA. Trust makes a profit off of Greddy...big time.

    GReddy, an "independent" company (as far as income and tax reporting goes) then goes about selling these products and attempts to make a profit. In short, the product is marked up at least 30%...TWICE.

    We dumba$$es in America who all "want what we can't have" then buy the product and keep them in business.

    Problem was, the stuff is good quality and there's no reason NOT to buy it.

    Since I have and STILL work inside this industry (have done so for 23 years), the simple truth is that people are doing less to their cars these days...and there's simply not enough mod-money floating around to keep every company booming.

    In 2001, it was not uncommon to see people spend $20K + plus building a tuner car. Today, most people are doing tires, wheels, exhaust, ECU, a couple of gauges and that's about it.

    Magazine advertising sales are in the toilet...two import drag racing series went belly up this year, several companies died (APC, Toucan...good riddens) and others merged. American Racing is making products in CHINA!!

    Things are tough...to quote my favorite movie, "it's a giant $hit sandwich and we're all going to have to take a bite."

  6. #50
    Registered User JUSTINSNUTSWINGER's Avatar
    Join Date
    Jul 2008
    Location
    San Antonio
    Posts
    1,923
    I knew it.... We get the big chorizo ALL the time here. Rather give my $$ to the Aussies.
    N-swinger

    2000 Escort

    Maintenance schedule and poke in the eyes:
    http://www.clubwrx.net/forums/genera...nce-guide.html

  7. #51
    Moderating YOU
    before you had your Subaru!
    Verdugo's Avatar
    Join Date
    Jan 2002
    Location
    Sea-Town, WA
    Posts
    13,307
    I Support ClubWRX
    Quote Originally Posted by craiglieberman View Post
    I used to work for a Japanese company. In order to take advantage of certain tax loopholes, Japanese companies make their profits TWICE.

    I'll explain.

    Using the model used by many Japanese companies doing business here, this is how it would work:

    Trust Japan sells to Greddy USA. Trust makes a profit off of Greddy...big time.

    GReddy, an "independent" company (as far as income and tax reporting goes) then goes about selling these products and attempts to make a profit. In short, the product is marked up at least 30%...TWICE.

    We dumba$$es in America who all "want what we can't have" then buy the product and keep them in business.

    Problem was, the stuff is good quality and there's no reason NOT to buy it.

    Since I have and STILL work inside this industry (have done so for 23 years), the simple truth is that people are doing less to their cars these days...and there's simply not enough mod-money floating around to keep every company booming.

    In 2001, it was not uncommon to see people spend $20K + plus building a tuner car. Today, most people are doing tires, wheels, exhaust, ECU, a couple of gauges and that's about it.

    Magazine advertising sales are in the toilet...two import drag racing series went belly up this year, several companies died (APC, Toucan...good riddens) and others merged. American Racing is making products in CHINA!!

    Things are tough...to quote my favorite movie, "it's a giant $hit sandwich and we're all going to have to take a bite."
    JIC operates this same way, and this is also how Cosworth is running things as the new Prodrive distributor for the US. Overall, you're right, and this is the key point here that you made:

    the simple truth is that people are doing less to their cars these days...and there's simply not enough mod-money floating around to keep every company booming.
    That is the bottom line. Yeah, I can get angry about knock-offs, businesses underselling products below MAP, etc...but the simply fact that people aren't buying anywhere as much as they used to overall is really the biggest problem facing the industry right now, and companies like Greddy who depend on this (and not coming up with anything truly innovative) are the ones hurting the most.
    Armin - ClubWRX Admin/Moderator since 2002
    Senior Editor and Photographer, NWMotiv.com
    Photography Portfolios: ArminAusejo.com | ArminWeddings.com
    President, Project One Car Club
    02 WRX "EVA-00" | 2010 A4, still to be named | 02 M3 "M-Thrizzle" (traded in) | 08 STI "Blaze" (sold)
    djrez4 is a genius | ScoobyDMC #010

  8. #52
    Registered User Ditch64's Avatar
    Join Date
    Apr 2007
    Location
    Detroit
    Posts
    288
    Quote Originally Posted by craiglieberman View Post
    Today, most people are doing tires, wheels, exhaust, ECU, a couple of gauges and that's about it. ."

    hell ya, are you kidding, im broke after making payments on the car, little stuff is whats the best for now, i cant afford anything because my job pays me jack, and i need to save up for everything. say i want a FMIC, honestly, i will look on ebay for a product, then i will look on the forum for a review of it and decide from there. if i cant find it good for cheap, ill buy it used. and buying a part used doesnt give the company that made it any money. just ebay or the state (taxes) and the seller.
    07 WRX CGM, blouch tdo6 18g and supporting mods. Defi racer series gauges, some other random stuff.
    04 Nissan Titan 4x4 LE CC Silver (Sold and missed)

    HAWK EYED ALLIANCE #686

  9. #53
    Registered User Dim3s's Avatar
    Join Date
    Aug 2008
    Location
    Waukesha, Wisconsin
    Posts
    35
    wow that is just unfortunate

    good thing i still have and love my HKS

  10. #54
    Registered User unclesteve-o's Avatar
    Join Date
    Oct 2008
    Location
    louisville,ky
    Posts
    0
    this is new news to me...
    good thing i dont have any hks/greddy parts on my ride..
    used to on my hondas back in the day.
    "Life moves pretty fast. If you don't stop and look around once in awhile, you could miss it."

    starbucks owns me...

  11. #55
    Moderating YOU
    before you had your Subaru!
    Verdugo's Avatar
    Join Date
    Jan 2002
    Location
    Sea-Town, WA
    Posts
    13,307
    I Support ClubWRX
    Here's the latest...Greddy USA has filed for Chapter 11 now too:

    Not ready for GReddy's filing (Dealscape)
    Armin - ClubWRX Admin/Moderator since 2002
    Senior Editor and Photographer, NWMotiv.com
    Photography Portfolios: ArminAusejo.com | ArminWeddings.com
    President, Project One Car Club
    02 WRX "EVA-00" | 2010 A4, still to be named | 02 M3 "M-Thrizzle" (traded in) | 08 STI "Blaze" (sold)
    djrez4 is a genius | ScoobyDMC #010

  12. #56
    Resident meany-rator 06wrx4me's Avatar
    Join Date
    Jun 2006
    Location
    Nor Cal
    Posts
    11,446
    I Support ClubWRX
    Quote Originally Posted by Verdugo View Post
    Here's the latest...Greddy USA has filed for Chapter 11 now too:

    Not ready for GReddy's filing (Dealscape)
    Them bankers are ruthless, they'll collect from anybody even if they don't owe. What your cousin twice removed took out a car loan and defaulted, no problem well send you a bill.
    2014 Ford Fiesta ST

    06 WRX, HAWKEYE # 001 <T-boned and sold>

    COILOVER TABLE
    TURBO TABLE

  13. #57
    Registered User
    Join Date
    Oct 2008
    Posts
    34
    Quote Originally Posted by Verdugo View Post
    It's not just Greddy that's hurting right now. Just about every manufacturer, whether based in Japan, Germany, Australia, or even here in the US is feeling the pinch. It's not like certain products are going out of style either, just the sheer number of products being sold has gone down drastically. After all, with our economy in the state that it is today, the first place people are going to save money is not buying that new turbo or set of coilovers.
    +1.. This means prices of parts will be less for everyone who can afford them

  14. #58
    Moderating YOU
    before you had your Subaru!
    Verdugo's Avatar
    Join Date
    Jan 2002
    Location
    Sea-Town, WA
    Posts
    13,307
    I Support ClubWRX
    Quote Originally Posted by endez View Post
    +1.. This means prices of parts will be less for everyone who can afford them
    Not necessarily. In fact, just about every company has been RAISING prices to recoup costs. Even Whiteline out of Australia raised their MSRP prices this month and cut dealer discounts. Things have just been going the opposite direction
    Armin - ClubWRX Admin/Moderator since 2002
    Senior Editor and Photographer, NWMotiv.com
    Photography Portfolios: ArminAusejo.com | ArminWeddings.com
    President, Project One Car Club
    02 WRX "EVA-00" | 2010 A4, still to be named | 02 M3 "M-Thrizzle" (traded in) | 08 STI "Blaze" (sold)
    djrez4 is a genius | ScoobyDMC #010

  15. #59
    Registered User motok's Avatar
    Join Date
    Feb 2009
    Posts
    48
    im glad to have my hks exhaust before hand lol

  16. #60
    Registered User NjBuGeyEdWRX's Avatar
    Join Date
    Apr 2007
    Location
    Beachwood NJ
    Posts
    1,340
    Quote Originally Posted by Verdugo View Post
    Not necessarily. In fact, just about every company has been RAISING prices to recoup costs. Even Whiteline out of Australia raised their MSRP prices this month and cut dealer discounts. Things have just been going the opposite direction
    +1. a friend of mine had bought a greddy fmic for his evo for 525$ about a year and a half ago and the price has doubled since then.
    03 WRB WRX STAGE II
    STi COMING SOON

    BUGEYE MAFIA #199

    LET ME QUOTE THE LATE COLONEL SANDERS " I'M TO DRUNK TO TASTE THIS CHICKEN . . ."

Page 4 of 4 FirstFirst 1234

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •