TRUST aka GReddy going bankrupt
TRUST aka GReddy going bankrupt
Japanese tuning firm Trust/Greddy declares bankruptcy
Posted Sep 10th 2008 3:32PM by Damon Lavrinc
Filed under: Aftermarket, Tuners, Government/Legal, Japan
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.
[Sources: GTChannel, JDMInsider]
source of atricle: Japanese tuning firm Trust/Greddy declares bankruptcy - Autoblog
all i can say is WOW! i have purchased and used MANY of their products.
Posted Sep 10th 2008 3:32PM by Damon Lavrinc
Filed under: Aftermarket, Tuners, Government/Legal, Japan
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.
[Sources: GTChannel, JDMInsider]
source of atricle: Japanese tuning firm Trust/Greddy declares bankruptcy - Autoblog
all i can say is WOW! i have purchased and used MANY of their products.
i do as well. The Chinese came FAAAR over the top with the fakes. unfortunately, a good number of people on here support the Japanese manufacturers....but more out there buy the knock off stuff because it's cheaper :(
Well the import scene is dying out anyway. A lot of people who still get into it end up parting out their car after a year. Now, instead of buying brand new products, car owners can just join a forum and buy used and cheaper.
But that sucks for Greddy. Guess there's been too much competition lately. I don't hear of people buying Greddy exhausts anymore. All I tend to hear of now is:
-Megan
-HKS
-Apex'i
-Tanabe
But that sucks for Greddy. Guess there's been too much competition lately. I don't hear of people buying Greddy exhausts anymore. All I tend to hear of now is:
-Megan
-HKS
-Apex'i
-Tanabe
...this does suck for Greedy, especially for the guys that I've gotten to know. :(
Last edited by JamesBizzle; Sep 10, 2008 at 07:59 PM.
this is true....but GReddy was one of the few to spend the money to create street legal parts/kits
It sucks to here this, but a long time coming!! its been alot longer then Feb of this year that they have been in trouble. There the one japanese turner that you chould build your car up from top to bottom with one product line. There products are made really well and user friendly. I built my supra with alot of there parts. They is to much cheap stuff out there and well EBAY the undisputed heavyweight of Knock OFF.
