Greddy declares bankruptcy
09-10-2008, 03:35 PM
#1
Senior Moderator
Thread Starter
Greddy declares bankruptcy
Not sure if this belongs in Car Talk or Automotive News.
Either way, its very sad if they don't come out of the hole.
http://www.autoblog.com/2008/09/10/j...es-bankruptcy/
Either way, its very sad if they don't come out of the hole.
http://www.autoblog.com/2008/09/10/j...es-bankruptcy/
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.
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.
09-10-2008, 03:59 PM
#3
Senior Moderator
IIRC, the Greddy SP and Evo exhausts are/were available for the 6G Accord.
in deed, but I also chalk this partially up to manufacturers making their cars harder to modify.
09-10-2008, 04:40 PM
#5
wut.
Join Date: Nov 2007
Location: Rowland Heights, CA
Posts: 1,404
Likes: 0
Received 0 Likes
on
0 Posts
Like I said.. "not like they made MUCH." Nothing people really wanted.
09-10-2008, 05:44 PM
#6
Time to Climb
this is a shame. trust/greddy was one of the pioneering modification companies. they make terrific products and i'll be sad to see them go. any news of a private party buying them out?
09-10-2008, 05:51 PM
#7
teh Senior Instigator
Join Date: Sep 2000
Location: Huntington Beach, CA -> Ashburn, VA -> Raleigh, NC -> Walnut Creek, CA
Age: 42
Posts: 44,090
Received 957 Likes
on
328 Posts
They aren't going under, they are re-organizing. Just got off the phone w/ them when I read the article a few hours ago.
Holley did the same thing back in February.
Holley did the same thing back in February.
Trending Topics
09-10-2008, 06:53 PM
#9
Safety Car
10 years ago most car savvy people that were willing to get aftermarket parts were handy enough to do their own installs on the simpler setups of the past...this is not common trend nowadays
heck, you pop a hood on a modern car and all you see is plastic casements
Last edited by ThermonMermon; 09-10-2008 at 06:55 PM.
09-10-2008, 07:20 PM
#11
Senior Moderator
Originally Posted by Sly Raskal
but I also chalk this partially up to manufacturers making their cars harder to modify.
09-11-2008, 01:54 AM
#13
...
Join Date: Mar 2001
Location: Los Angeles, Ca
Posts: 2,916
Likes: 0
Received 0 Likes
on
0 Posts
I have the greddy titanium exhaust for my evo 9
Top notch quality, weighs only 8 lbs, and a beautiful sounding exhaust. Its sad to see companies like this go bankrupt.
Top notch quality, weighs only 8 lbs, and a beautiful sounding exhaust. Its sad to see companies like this go bankrupt.
09-11-2008, 02:17 AM
#14
Crappy customer service and know how, good ridens hopefully they fall again after the bankruptcy. Their electronics just never worked perfectly with our cars and they couldn't help if their lives depended on it.
Lets see if they turn over a new leaf.
Lets see if they turn over a new leaf.
09-11-2008, 07:49 AM
#17
94 DC4 RS LSV/Turbo
iTrader: (1)
Join Date: Jul 2007
Location: New York City | Stuck in Traffic
Age: 38
Posts: 11,734
Likes: 0
Received 11 Likes
on
11 Posts
I ran their exhaust for a good amount of time, quality is definitely great, and greddy has always made excellent products... ie. 2 catbacks for the new accord 
09-11-2008, 09:07 AM
#20
'10 Hyundai Genesis Coupe
I'm not the least bit surprised, I doubt sales will amount to anything in a down economy like we are in now.
People also must realize that the tuner crowd is slowly phasing out, with more stringent laws on emissions and whatnot, people have been turned off from purchasing performance mods.
Also note that cars now really don't gain much from aftermarket products as they once used to, when you're already pushing 300+ HP from a V6 I doubt you can really push it to get any more power. Couple that with the fact that cars from factory are already fast enough for most people, you end up with slow/poor sales.
People also must realize that the tuner crowd is slowly phasing out, with more stringent laws on emissions and whatnot, people have been turned off from purchasing performance mods.
Also note that cars now really don't gain much from aftermarket products as they once used to, when you're already pushing 300+ HP from a V6 I doubt you can really push it to get any more power. Couple that with the fact that cars from factory are already fast enough for most people, you end up with slow/poor sales.
09-11-2008, 09:46 AM
#23
teh Senior Instigator
Join Date: Sep 2000
Location: Huntington Beach, CA -> Ashburn, VA -> Raleigh, NC -> Walnut Creek, CA
Age: 42
Posts: 44,090
Received 957 Likes
on
328 Posts
I'm not the least bit surprised, I doubt sales will amount to anything in a down economy like we are in now.
People also must realize that the tuner crowd is slowly phasing out, with more stringent laws on emissions and whatnot, people have been turned off from purchasing performance mods.
Also note that cars now really don't gain much from aftermarket products as they once used to, when you're already pushing 300+ HP from a V6 I doubt you can really push it to get any more power. Couple that with the fact that cars from factory are already fast enough for most people, you end up with slow/poor sales.
People also must realize that the tuner crowd is slowly phasing out, with more stringent laws on emissions and whatnot, people have been turned off from purchasing performance mods.
Also note that cars now really don't gain much from aftermarket products as they once used to, when you're already pushing 300+ HP from a V6 I doubt you can really push it to get any more power. Couple that with the fact that cars from factory are already fast enough for most people, you end up with slow/poor sales.
+1. I hate when ppl talk about of their a$$!
09-11-2008, 10:24 AM
#26
Senior Moderator
Not sure what the bankruptcy laws are like in Japan, but hopefully the restructuring/reorganizing, etc will keep them afloat.
09-11-2008, 03:31 PM
#27
Senior Moderator
Thread Starter
I'm not the least bit surprised, I doubt sales will amount to anything in a down economy like we are in now.
People also must realize that the tuner crowd is slowly phasing out, with more stringent laws on emissions and whatnot, people have been turned off from purchasing performance mods.
Also note that cars now really don't gain much from aftermarket products as they once used to, when you're already pushing 300+ HP from a V6 I doubt you can really push it to get any more power. Couple that with the fact that cars from factory are already fast enough for most people, you end up with slow/poor sales.
People also must realize that the tuner crowd is slowly phasing out, with more stringent laws on emissions and whatnot, people have been turned off from purchasing performance mods.
Also note that cars now really don't gain much from aftermarket products as they once used to, when you're already pushing 300+ HP from a V6 I doubt you can really push it to get any more power. Couple that with the fact that cars from factory are already fast enough for most people, you end up with slow/poor sales.
09-12-2008, 11:36 AM
#32
Team Owner
Join Date: Feb 2006
Location: District of Corruption
Age: 36
Posts: 23,588
Received 105 Likes
on
69 Posts
I'm not the least bit surprised, I doubt sales will amount to anything in a down economy like we are in now.
People also must realize that the tuner crowd is slowly phasing out, with more stringent laws on emissions and whatnot, people have been turned off from purchasing performance mods.
Also note that cars now really don't gain much from aftermarket products as they once used to, when you're already pushing 300+ HP from a V6 I doubt you can really push it to get any more power. Couple that with the fact that cars from factory are already fast enough for most people, you end up with slow/poor sales.
People also must realize that the tuner crowd is slowly phasing out, with more stringent laws on emissions and whatnot, people have been turned off from purchasing performance mods.
Also note that cars now really don't gain much from aftermarket products as they once used to, when you're already pushing 300+ HP from a V6 I doubt you can really push it to get any more power. Couple that with the fact that cars from factory are already fast enough for most people, you end up with slow/poor sales.
Lol....
09-15-2008, 02:06 AM
#33
tehLEGOman
Join Date: Dec 2004
Location: Charlotte, NC
Age: 41
Posts: 9,135
Received 1,982 Likes
on
1,335 Posts
I did what i could to help them stay on top of the water...
I've purchased:
Greddy FMIC
Strut bar
Trust Exhaust
And not a damn one of those products were intended for the TL, but i made them work.
Maybe they should aim to develop more products for the vehicles with the least aftermarket support.
I've purchased:
Greddy FMIC
Strut bar
Trust Exhaust
And not a damn one of those products were intended for the TL, but i made them work.
Maybe they should aim to develop more products for the vehicles with the least aftermarket support.
09-15-2008, 10:55 AM
#34
Team Owner
iTrader: (1)
Join Date: Sep 2002
Location: Fontana, California
Age: 47
Posts: 30,991
Received 582 Likes
on
346 Posts
It's simply 1) whether or not they see a substantial possibility of earning a profit on the parts developed 2) the products they develop will actually provide a benefit over stock 3) it there will be enough people that would want and ACTUALLY buy it 4) what's the current position of that car in it's lifetime (last model year, etc).
Most of these companies like GREDDY/TRUST specialize in one thing, IMO, they specialize in turbo applications. Honda's aren't the easiest motor's to add turbo's too IMO. Correct me if I'm wrong, but the aluminum block makes the motor less reliable when adding a turbo due to the excess heat from detonation?
That's what I've heard from other tuners, dont' know if that's true or not. But then, why are superchargers possible like Comptechs. 
09-15-2008, 11:16 AM
#35
socialism= the suck
Join Date: Aug 2007
Age: 42
Posts: 3,023
Likes: 0
Received 0 Likes
on
0 Posts
There are reasons why some of those care have the least aftermarket support.
It's simply 1) whether or not they see a substantial possibility of earning a profit on the parts developed 2) the products they develop will actually provide a benefit over stock 3) it there will be enough people that would want and ACTUALLY buy it 4) what's the current position of that car in it's lifetime (last model year, etc).
Most of these companies like GREDDY/TRUST specialize in one thing, IMO, they specialize in turbo applications. Honda's aren't the easiest motor's to add turbo's too IMO. Correct me if I'm wrong, but the aluminum block makes the motor less reliable when adding a turbo due to the excess heat from detonation? That's what I've heard from other tuners, dont' know if that's true or not. But then, why are superchargers possible like Comptechs.
It's simply 1) whether or not they see a substantial possibility of earning a profit on the parts developed 2) the products they develop will actually provide a benefit over stock 3) it there will be enough people that would want and ACTUALLY buy it 4) what's the current position of that car in it's lifetime (last model year, etc).
Most of these companies like GREDDY/TRUST specialize in one thing, IMO, they specialize in turbo applications. Honda's aren't the easiest motor's to add turbo's too IMO. Correct me if I'm wrong, but the aluminum block makes the motor less reliable when adding a turbo due to the excess heat from detonation?
That's what I've heard from other tuners, dont' know if that's true or not. But then, why are superchargers possible like Comptechs.
09-16-2008, 10:40 AM
#37
Team Owner
Not many exhausts did much for the 6th gen Accord. I think 1% of the members at the Accord forum that I cannot name actually boosted their Accords but most were scared with the crap tranny. Exhausts for our car were mostly aesthetic. GReddy was one of the first and few exhaust choices back in the late 90's for the Accord. Most didn't come to the party until toward the end of the generation.
09-19-2008, 01:58 PM
#38
That's Racist
Join Date: Aug 2004
Location: San Diego native. UCLA resident. =)
Age: 38
Posts: 5,634
Likes: 0
Received 0 Likes
on
0 Posts
i feel like their prices always hovered around their main competitors (for their exhaust components anywhere) like Fujitsubo, Tanabe, Apex'i, etc.
I mean, they didnt' sell their stuff at magnaflow prices, but I always felt cross-shopping those JDM based brands was equal across the board
I mean, they didnt' sell their stuff at magnaflow prices, but I always felt cross-shopping those JDM based brands was equal across the board
