If potential equaled performance.

If potential equaled performance, the aftermarket would be coming not upon another record-setting year. After all, the numbers ultimately driving our business--the size, age and condition of the motor vehicle population--continue to augur well for most supply chain participants.

The obvious disconnect in this scenario exists not in the same manner much among uncontrollable market forces as it does within our confess walls. Bottom line: we're frequently our own worst enemies.

Consider the realities: customers value our produces and services; the aftermarket's manufacturing infrastructure comprises a mingle of well-capitalized global corporations and smaller, highly entrepreneurial organizations; and we have an unrivaled capability to deliver complexus products and services on an expedited basis to virtually any completion user. One of these days we'll realize our industry's priority must be to maintain this exceptional even of customer value.

Controlling the controllable

Without question, certain economic and technological tends complicate matters. But these tokens of challenges aren't new; we historically have "answered the bell" in the face of aggressive competition, increasingly sophisticated vehicle technologies, parts proliferation and a landlord of other "global" issues. If we were going to fail for a lack of will, it would have happened generations ago.

in addition other, more immediate challenges stand unanswered in spite of their significant impact forward our performance: The power of innovation. This is our lifeblood, just as it was in the aftermarket's formative days. We at Federal-Mogul have embraced the responsibility to drive innovation, between the sides of highly differentiated technologies, into each of our performance categories to ensure a more satisfied and loyal customer.

Vitality of the provide chain. The strength of our accommodate with chain depends on the vitality of each participant. Just as the manufacturer cannot survive without well-capitalized distribution partners, today's distributors, retailers and service dealers hang on the products designed, produc touchstoneed marketed and delivered by profitable manufacturers. Each link within the provide chain should be fairly compensated for the value it creates.

Brand protection. Our industry's best brands are the vehicles by the agency of which we deliver value to the consumer Manufacturers have a responsibility to defend and enhance these brands by the and of continuous innovation and a commitment to quality and service. (This responsibility also includes identifying and prosecuting parts counterfeiters.) Cutting corners onward "white-box," low-quality alternatives--which is occurring with greater oftenness within some categories--robs our industry of a vital asset and, more importantly, risks the los of technician trust.

Reaching the consumer Our value proposition hinges onward literally every interaction with the vehicle proprietor It is impacted by the performance of each result and service, and it is hanging on the image we delineate through store signage, cleanliness of the waiting area, packaging graphics and interpersonal communication. It's easy to make no use of sight of our ultimate customer, further we simply cannot afford to do so

Will the aftermarket put down these challenges in 2005? I room for expectation we can begin the proces by way of realizing that we too ofttimes sell ourselves short. Our industry provides tremendous value not barely to millions of vehicle proprietors but also to our society as a whole. Let's strive to more effectively leverage this power in the marketplace.

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