[WeSLy]

http://www.autoblog.com/2008/09/10/japanes...res-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.

sad news, i hate hearing stuff like this.

[Clix]

GReddy went bankrupt?!?!

NOOO!

[90th.degree]

This is like the fourth place I've seen the news being passed around. This seems huge, and it sucks bad, but the TYPE of bankruptcy allows them to STILL conduct business so...there's SOME hope Trust will live...

[jowyun]

This is so sad. I can't believe ppl would go and buy chinese knock off parts for their vehicles either. Sad to see such a well know distributor of quality parts go down like this. I hope this doesn't be come a trend. Sad news for the enthusiast community...

[rx-666]

thats why you dont buy cheap knockoff parts. probably wont be the last one this happens to. in the end there will be hardly anyone developing any decent parts if this keeps up. people that make copies cant engineer anything worth a damn.

[terrorist]

thats horrible, but i honestly don't think japan would just let them get bankrupt, it's a big industry to just go down the drain.

[Forgotten Azn]

NOOO!
Hard to believe this.....

[90th.degree]

thats horrible, but i honestly don't think japan would just let them get bankrupt, it's a big industry to just go down the drain.

The type of bankruptcy they filed allows them to continue business while the company's debts are sorted out. However, with young people looking to tune their cars begin to disappear, and the sudden appearance of fake Chinese parts with lower quality, I doubt GReddy may recover to its former glory.

[ghost]

The type of bankruptcy they filed allows them to continue business while the company's debts are sorted out. However, with young people looking to tune their cars begin to disappear, and the sudden appearance of fake Chinese parts with lower quality, I doubt GReddy may recover to its former glory.

Just give it time, People will begin to realize how much money they would've saved by buying the GOOD parts

Still sucks to hear such a big company get hit

[v8subie]

apex'i and hks had the same issue with ebay and knock-off parts.

[visuelz]

They're just going to reorganize. A friend just got off the phone with them. Also, some speculations are that they are moving their main operations to the US.

[myclock]

yeah its coz people buying cheaper copies of good brands because they are cheaper and look almost the same, leaving originals like greddy/trust being unable to sell their parts, and to continue bringing out new designs.

[XlYesterdaYlX]

greddy is gone? damn that sucks.

[youngnottheold1]

They're just going to reorganize. A friend just got off the phone with them. Also, some speculations are that they are moving their main operations to the US.

yep, just reorganizing. not gone.

[some-azn-guy]

see what happens when too many people want to modify their cars but choose to buy chinese knock-offs and/or ebay specials instead of the name brand stuff?

this kind of stuff happens. ironic enough, that if companies like TRUST are eventually forced to close their doors for good; the chinese knock-off makers won't have new products to knock off anymore.

plus chinese knock-off quality standards are sketchy..
i refuse to buy any knock off part for my own car..the way i see it, use something proven to work and pay a premium for it so i know i won't be buying the same part again anytime soon.

[vinn]

They'll still be around

[coreansurfer]

greddy usa is still around and ok, trust japan is in trouble though

[Ringo.]

My boyfriend says "eff the chinese knockoffs--buy real thangs. D: "

He is the sad. D:


[FG2 - I/RH/E + HONDATA reflash soon]

[V12Juice]

Greddy sold mostly POS parts anyways... Only thing good was the profec B. Seriously for the price there are way better parts out there..
Especially since US Companies like AMS BUSCHUR etc. are way cheaper and almost as good quality.

[kelvin6]

Well if there is one positive to this:

It could spawn people to learn how to build their own custom parts. For instance, my Volvo has only one or two tuning company that makes products for them. Since its practically a monopoly, most of us Volvo 'tuners' have to custom build our own parts. I've also learned how to modify parts intended for other cars to work in mine as a upgrade... such as me using the GM Boost Controller (also seen commonly on Subarus). Strut braces for my car are at least $200+ and some us even went was far to machine our own high quality braces and even sway bars (and make several to sell to other owners). Simply, there is very little Volvo aftermarket, so many of us have to make our own parts and come up with our own solutions.

Sure custom parts/work isn't cheap, but its 'educational' and it does give me a more satisfied feel when I built something that my car can use...