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ACO, C.A. is a Venezuelan holding company for an umbrella organization of over eighty companies engaged in a wide variety of industries throughout Venezuela predominantly in the automotive industry. It is best known for the sale, servicing and leasing of automobiles nationally.
ACO was founded in 1951 by Arnold Orav, Chairman along with Harry Männil, President & CEO, and with the financial backing of Alcoa Aluminum Corp. (majority shareholder), the Juan Simon Mendoza family (Polar Group), the Tamayo family (largest Venezuelan liquor distributor et al.), and other prominent Venezuelan investors. The company emerged in the 1970s as the world's largest tractor dealership as the dealer for John Deere Tractors in Venezuela. It also became the largest automobile dealership in South America, according to the Ford Motors Company (USA).
A significant contributor to the success of the Grupo Aco was the innovative introduction in Venezuela of in-house auto sale financing using a captive finance company. Whereas Grupo Aco had equity stakes in a great number of companies, the balance of ownership of many of these companies was held by Grupo Aco shareholders. As a result, Grupo Aco commanded a larger market share than would be suggested only by its totally owned companies. It attained US $900 million in sales during 1973 and ranked as the most profitable private sector company in the nation that year. Changes in Venezuela's economy and political environment during the early 1980s caused a downturn for many large businesses in Venezuela.
In the case of the Aco Group, a financial crisis emerged as motor vehicle sales plummeted. By 1993, the Aco Group was forced into reorganization and a restructuring of the entire group. This led to Harry Mannil becoming the largest shareholder, at 24% of common shares. Efforts to recover financially were overwhelmed by continuous declines in the nation's private sector economy. Aco, S.A. was splintered into several groups, with a substantial number of auto dealerships taken under direct ownership by Harry Mannil.
A keiretsu is a set of companies with interlocking business relationships and shareholdings that have dominated the Japanese economy since the second half of the 20th century. In the legal sense, it is a type of informal business group that are loosely organized alliances within the social world of Japan's business community. It rose up to replace the zaibatsu system that was dissolved in the Occupation of Japan following the Second World War, and, though their influence has shrunk since the late 20th century, they continue to be important forces in Japan's economy in the early 21st century.
The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, selling, repairing, and modification of motor vehicles. It is one of the world's largest industries by revenue.
Magna International Inc. is a Canadian parts manufacturer for automakers. It is one of the largest companies in Canada and was recognized on the 2020 Forbes Global 2000. The company is the largest automobile parts manufacturer in North America by sales of original equipment parts, it has ranked consistently in the Fortune Global 500 list for 20 years in a row since 2001. It produces automotive systems, assemblies, modules, and components, which are supplied to General Motors, Ford and Stellantis, as well as BMW, Mercedes, Volkswagen, Toyota, Tesla, and Tata Motors, among others.
SAIC Motor Corp., Ltd. is a Chinese state-owned automobile manufacturer headquartered in Anting, Shanghai. Founded in 1955, it is currently the largest of the "Big Four" state-owned car manufacturers of China, namely: SAIC Motor, FAW Group, Dongfeng Motor Corporation, and Changan Automobile, with car sales of 5.37 million, 3.50 million, 3.28 million and 2.30 million in 2021 respectively.
DINA is a Mexican bus and truck manufacturer based in Ciudad Sahagún, Hidalgo, Mexico. It was created by the federal government of Mexico in 1951 as Diesel Nacional, S.A., and is currently owned by Grupo Empresarial G and its subsidiaries. The company has gone through several stages of production of freight and bus models throughout its history, thanks to technological and commercial agreements and partnerships with various companies such as Fiat, Renault, Marcopolo S.A., Flxible, Cummins, Perkins, Chrysler, Caterpillar, Scania, MCI, Škoda, Spicer, Eaton and Dana. Today its primary production is buses for urban, domestic and foreign use. They have developed their truck technology with a subsidiary of BMW.
Ford Motor Credit Company LLC, d/b/a Ford Credit, is the financial services arm of Ford Motor Company, and is headquartered in Dearborn, Michigan.
AutoNation is an American automotive retailer based in Fort Lauderdale, Florida, which provides new and pre-owned vehicles and associated services in the United States. The company was founded by Wayne Huizenga in 1996, starting with twelve AutoNation locations, and now has more than 300 retail outlets.
Lookers is a British car dealership chain in the United Kingdom and Ireland. It represents multiple automobile brands, and is based in Altrincham. It is listed on the London Stock Exchange.
The automotive industry in India is the third-largest by production in the world as per 2023 statistics.As of 2023, India is the 3rd largest automobile market in the world in terms of sales. In 2022, India became the fourth largest country in the world by the valuation of its automotive industry.
Harry Männil, also known as Harry Mannil Laul, was an Estonian businessman, art collector, and cultural benefactor in several countries.
Lithia Motors, Inc. is an American nationwide automotive dealership group headquartered in Medford, Oregon. It is the third largest new vehicle automotive dealership group in the United States, after AutoNation and Penske Automotive Group. As of May 2022, Lithia operates 267 stores in 24 states, and 14 in Canada. Lithia Motors employs approximately 21,150 people.
Hotai Motor Co., Ltd. is a Taiwan-based automotive-centric conglomerate. It is the largest automobile company and the second largest household appliance company, as well as one of the largest financial holding companies in Taiwan. Traditionally, Hotai is regards as one of the top four conglomerates and the oldest amongst the "Big Four" business groups in Taiwan. Hotai Motor can be traced to the founding of its predecessors in China and Japan in 1937 by Lieh-ho Huang.
Car finance refers to the various financial products which allow someone to acquire a car, including car loans and leases.
Bill Heard Enterprises was a company based in Columbus, Georgia. Founded in 1919, it operated a group of automobile dealerships, primarily in the Southern United States. At its peak, the company operated dealerships in Georgia, Tennessee, Alabama, Florida, Texas, Arizona and Nevada. By 2008, Bill Heard Enterprises was the 11th-largest automobile dealer in the United States, the largest in the state of Georgia, and the largest dealer of Chevrolet automobiles.
The automotive industry in Pakistan is one of the smallest but fastest-growing industries in the country, growing by 171% between 2014 and 2018. It accounts for 3% of Pakistan's GDP and employed a workforce of over 3.5 million people as of 2018. Pakistan is the 35th largest producer of automobiles. Its contribution to the national exchequer is nearly Rs. 50-billion. Pakistan's auto market is among the smallest but fastest growing in Asia. 269,792 cars were sold in 2018, but this number declined to 186,716 in 2019 due to austerity measures. In the 1990s and early 2000s, Pakistan had many Japanese cars. With the launch of the first Auto Policy in 2005, Pakistan launched its first indigenous car, Adam Revo. However, after the 2008 elections, the dollar started depreciating, and due to bad governance, many automakers began to halt production, with some exiting Pakistan. Currently, the auto market is dominated by Honda, Toyota, and Suzuki. However, on 19 March 2016, Pakistan passed a second "Auto Policy 2016-21," which offers tax incentives to new automakers to establish manufacturing plants in the country. In response, Renault, Nissan, Proton Holdings, Kia, SsangYong, Volkswagen, FAW, and Hyundai have expressed interest in entering the Pakistani market. MG JW Automobile Pakistan has signed a memorandum of understanding (MoU) with Morris Garages (MG) Motor UK Limited, owned by SAIC Motor, to bring electric vehicles to Pakistan. NLC signed an agreement with Mercedes Benz to manufacture Mercedes Actros trucks in Pakistan. Pakistan has not enforced any automotive safety standards or model upgrade policies. A few older vehicle models, including the Bolan and Ravi, continue to be sold by Suzuki. On 8 July 2021, Jolta Electric launched the production of electric motorcycles.
In the United States, the automotive industry began in the 1890s and, as a result of the size of the domestic market and the use of mass production, rapidly evolved into the largest in the world. The United States was the first country in the world to have a mass market for vehicle production and sales and is a pioneer of the automotive industry and mass market production process. During the course of the 20th century, global competitors emerged especially in the second half of the century primarily across European and Asian markets, such as Germany, France, Italy, Japan and South Korea. The U.S. is currently second among the largest manufacturers in the world by volume.
CNH Industrial N.V. is an Italian-American multinational corporation with global headquarters in Basildon, United Kingdom, but controlled and mostly owned by the multinational investment company Exor, which in turn is controlled by the Agnelli family. The company is listed on the New York Stock Exchange and on Borsa Italiana: it is a constituent of the FTSE MIB index. The company is incorporated in the Netherlands. The seat of the company is in Amsterdam, Netherlands, with a principal office in London, England.
The Sakthi Group is an Indian multinational conglomerate with operational areas in India, China, Europe, Middle East and United States. The group has operations in Sugar, Dairy, Industrial Alcohol, Automobile distribution and components, Transportation, Energy, Textiles, IT, Education and Healthcare. N. Mahalingam is the Founder. The group has automotive dealerships for leading brands of Maruti Suzuki and Tata vehicles in various places in South India. The group is also involved in Petrol Pump Operations, Indane LPG Distribution and the sale of consumer products and electronics. It also has a footprint in the textiles industries with Sri Sakthi Textiles Ltd.
Jiangling Motors Corporation Group Co., Ltd. (JMCG) is a Chinese state-owned holding mostly operating in the automotive industry. It was established in 1947 and is headquartered in Nanchang, Jiangxi.
The automotive industry in the Philippines is the 9th largest in the Asia-Pacific region, with approximately 273.4 thousand vehicles sold in 2019. Most of the vehicles sold and built in the Philippines are from foreign brands. For the most part, the Philippines is dominated by Japanese automobile manufacturers like most of its ASEAN neighbors. The automobile production in the country is covered under the Philippine Motor Vehicle Development Program implemented by the Board of Investments. In addition, there are also a small number of independent firms who assemble and fabricate jeepneys and other similar vehicles, using surplus engines and drivetrain parts mostly from Japan.
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