Japanese tuning firm Trust/Greddy declares bankruptcy
09-11-2008, 03:45 PM
#31
Originally Posted by Scott8
looks like greddy air diversion plates went up in ScionLife value!!!
still sucks though.
09-11-2008, 04:12 PM
#33
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Location: Los Angeles County 909
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Trust/Greddy products wont go up in value as a result of this. No one is gonna pay more for a used Greddy exhaust when there are so many other reputable companies making good parts.
This is how the auto parts business works today:
1. A company (like Greddy) spends time and money designing, testing, and manufacturing a product. That product is brought to market with a price that reflects research and development costs.
2. A Chinese (or other Asian) manufacturer takes Greddy’s product and makes a low cost (and usually low quality) copy.
3. That copy is sold to a 3rd party company that puts their own logo/brand on it. That copy is sold to the public at a significantly lower price than the original product.
4. The company who made the original product (like Greddy) loses sales and goes out of business.
Companies like Greddy, HKS, Yokohama, Tein, Defi, H&R, Eibach, Rays Engineering (Volk Racing), Brembo, and more are proud to show off their own engineering and manufacturing process. The competition between these companies leads to better engineering and better products. Try finding similar info for: Megan, Ksport, Rotora, Axis, Nexen, Mishimoto, etc.
Selling products made by someone else is okay if its not a stolen design leading to a knock-off.
Good examples:
• Rays Engineering (Volk Racing) made/makes wheels for Nismo, Mugen, TRD, and Mazdaspeed
• TRD products made by Progress, Hotchkis, and AEM
• Brembo brakes for Porsche (Brembo name is completely removed)
This is how the auto parts business works today:
1. A company (like Greddy) spends time and money designing, testing, and manufacturing a product. That product is brought to market with a price that reflects research and development costs.
2. A Chinese (or other Asian) manufacturer takes Greddy’s product and makes a low cost (and usually low quality) copy.
3. That copy is sold to a 3rd party company that puts their own logo/brand on it. That copy is sold to the public at a significantly lower price than the original product.
4. The company who made the original product (like Greddy) loses sales and goes out of business.
Companies like Greddy, HKS, Yokohama, Tein, Defi, H&R, Eibach, Rays Engineering (Volk Racing), Brembo, and more are proud to show off their own engineering and manufacturing process. The competition between these companies leads to better engineering and better products. Try finding similar info for: Megan, Ksport, Rotora, Axis, Nexen, Mishimoto, etc.
Selling products made by someone else is okay if its not a stolen design leading to a knock-off.
Good examples:
• Rays Engineering (Volk Racing) made/makes wheels for Nismo, Mugen, TRD, and Mazdaspeed
• TRD products made by Progress, Hotchkis, and AEM
• Brembo brakes for Porsche (Brembo name is completely removed)
09-11-2008, 04:17 PM
#34
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Join Date: Dec 2006
Posts: 319
Rotora is not even close to comparison with Project Mu and or Endless...sorry to bash them but its the truth.
It is up to you however to buy whatever you want, but when it comes down to you wanting a high quality parts as sponsorship, those knock-off parts you have on your mod list will make those other companies turn the other way. Quality parts will/can get you more quality parts overtime, through sponsors, tours, sema etc.. same with knock-off parts.
This is why such quality companies like Trust/Greddy files for bankrupt because some individuals would rather go with the easy way to building a car. Once again, it is up to you on how you build your car, just sharing my IMO because i have taken that easy way route before and well, lesson learned.
It is up to you however to buy whatever you want, but when it comes down to you wanting a high quality parts as sponsorship, those knock-off parts you have on your mod list will make those other companies turn the other way. Quality parts will/can get you more quality parts overtime, through sponsors, tours, sema etc.. same with knock-off parts.
This is why such quality companies like Trust/Greddy files for bankrupt because some individuals would rather go with the easy way to building a car. Once again, it is up to you on how you build your car, just sharing my IMO because i have taken that easy way route before and well, lesson learned.
09-11-2008, 04:37 PM
#36
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Originally Posted by HKSpeed
Trust/Greddy products wont go up in value as a result of this.
09-11-2008, 04:59 PM
#37
The internet is a double edged sword. On one hand, we have access to things we otherwise never would have, but on the other, we also have access to very low quality products, or easy/illegal access to quality ones.
The problem with most internet shoppers is that price dictates what they buy rather than quality. People will settle for just about anything if the price is low enough, even if the end result is dangerous or tacky.
Worst of all, it creates stagnation in the marketplace because the theory of making a quality product and people will buy no longer applies. Companies are less and less likely to take risks when there are so many opportunities for someone to rip off their design, and many potential customers will go for it.
The problem with most internet shoppers is that price dictates what they buy rather than quality. People will settle for just about anything if the price is low enough, even if the end result is dangerous or tacky.
Worst of all, it creates stagnation in the marketplace because the theory of making a quality product and people will buy no longer applies. Companies are less and less likely to take risks when there are so many opportunities for someone to rip off their design, and many potential customers will go for it.
09-12-2008, 04:33 PM
#39
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DeepSouth Scions
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Location: Dallas, TX
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****Found this on another forum I visit*****
Greddy USA Press Release
Posted by Eric Hsu under Cars
From Mike Chung at Greddy USA:
TRUST CO. LTD, JAPAN, FILES FOR MINJI-SAISEI-HOU IN TOKYO
GReddy Performance Products Inc., Parent Company to Undergo Reorganization
Through Japanese Equivalent of U.S. Chapter 11 Filing
September 9th, 2008, Irvine, CA—GReddy Performance Products, a California Corporation, has announced that its parent corporation, TRUST Co. LTD, has filed for Minji-saisei-hou in Tokyo, Japan, the U.S. equivalent of a Chapter 11 reorganization plan. As in the U.S., this filing is a common strategy utilized by companies to allow them to continue to conduct business and service customers while undergoing an internal reorganization process.
This reorganization will have little, if any effect on GReddy Performance Products Inc., USA. GReddy assures its customers that it has ample inventory of all products for the U.S. market, and there are no production delays on new and current product lines coming from Japan. GReddy looks forward to exhibiting at the 2008 SEMA Show in Las Vegas, NV in its 20’ x 40’ booth, and will have three new project vehicles and new 2009 products on display. Representatives from both GReddy USA and TRUST Co. LTD Japan are attending the SEMA Show to answer questions about the reorganization and future plans for the company to retain its dominance in the sport compact market segment for the next 30 years.
Stated GReddy Performance Product’s Kenji Sumino, “TRUST Co. LTD Japan has filed for bank protection in order to restructure. This does not affect GReddy Performance Products USA at this time. In fact, we are working on plans to assist TRUST Co. LTD Japan during this process in every way we can. We have more than adequate inventory to sustain us until TRUST Co. LTD Japan returns to full production capabilities. As more information becomes available, we will release it to the media.”
Greddy USA Press Release
Posted by Eric Hsu under Cars
From Mike Chung at Greddy USA:
TRUST CO. LTD, JAPAN, FILES FOR MINJI-SAISEI-HOU IN TOKYO
GReddy Performance Products Inc., Parent Company to Undergo Reorganization
Through Japanese Equivalent of U.S. Chapter 11 Filing
September 9th, 2008, Irvine, CA—GReddy Performance Products, a California Corporation, has announced that its parent corporation, TRUST Co. LTD, has filed for Minji-saisei-hou in Tokyo, Japan, the U.S. equivalent of a Chapter 11 reorganization plan. As in the U.S., this filing is a common strategy utilized by companies to allow them to continue to conduct business and service customers while undergoing an internal reorganization process.
This reorganization will have little, if any effect on GReddy Performance Products Inc., USA. GReddy assures its customers that it has ample inventory of all products for the U.S. market, and there are no production delays on new and current product lines coming from Japan. GReddy looks forward to exhibiting at the 2008 SEMA Show in Las Vegas, NV in its 20’ x 40’ booth, and will have three new project vehicles and new 2009 products on display. Representatives from both GReddy USA and TRUST Co. LTD Japan are attending the SEMA Show to answer questions about the reorganization and future plans for the company to retain its dominance in the sport compact market segment for the next 30 years.
Stated GReddy Performance Product’s Kenji Sumino, “TRUST Co. LTD Japan has filed for bank protection in order to restructure. This does not affect GReddy Performance Products USA at this time. In fact, we are working on plans to assist TRUST Co. LTD Japan during this process in every way we can. We have more than adequate inventory to sustain us until TRUST Co. LTD Japan returns to full production capabilities. As more information becomes available, we will release it to the media.”