I will bet dollars to donuts that private equity bought them, ran it into the ground, saddled Recaro with debt, and filed for bankruptcy. Same thing as Red Lobster and Toys R Us.
@@obomasinladen There are 2 chapters of bankruptcy. Chapter 11 and Chapter 7. Chapter 7 is when three business dissolves and all assets sold. Chapter 11 is when the business negotiates with creditors in court, restructuring, and is given an ability to return to business.
@@goshbaby8531 Fairly certain they did Chapter 11 which allows some operations to continue, could be wrong. But mainly, private equity buyouts are toxic and almost always destroy companies
BBS' German division didn't even make aftermarket wheels anymore. Not to mention that this is their 3rd bankruptcy in 4 years time with the last one being only 10 months ago
@@larryc1616 part of their problem is when they shot themselves in the foot by not having cheap oil and other trade with Russia. The inflation over this is high
Recaro needed to sort their pricing out. Their classic seat costs £2000 for one seat whereas cobra make a very similar seat thats around £1000 for a pair. For a few hundred more they’ll custom upholster them with the finest materials. Similar thing with bbs and the wheel industry is so much more competitive.
I checked the other day for the configurator and the seats looked closer to £1500-2000 for the pair, still expensive but deffo seems better value than a Recaro
@@Treaxvourcould be referring to “factory equipped” Recaros, maybe those recaros that originally came with the car when brand new. Not giving out ideas cuz those resold ones will be loaded with 💨
Investment firm buying companies usually means high prices, lower quality. Until the companies death spiral, that the Investment firm can sell for a profit.
Is the German economy currently in the process of imploding? I've never seen so many prominent German companies declare bankruptcy in such a short period of time.
personally i will NEVER buy anything but authentic Enkei RPF1's. if i have to be patient, and discipline myself to SAVE UP for them...? okay then so be it. in the meantime i'll just continue rolling on my stock Honda Factory Rims, which fortunately are pretty nice as OEM which ironically is also UNFORTUNATE in that the theft of stock Honda wheels (because like Audi wheels they're so nicely designed and rival Aftermarket designs) has begun ramping back up. yeah just watched a news reports showing someone's brand new CRV or Passport SUV (not sure which) sitting on milk crates. yes being plastic the milk crates had crushed and collapsed under the weight, but i guess it was just enough to get the jack out from under the pinch weld.
Excellent opportunity to start my own knock off seats. I’ll call them Ricardo’s and I’ll hire a Puerto Rican with a diamond and gold grill to be the poster boy.
Do we think this is a systemic issue? I feel like the car community is dying off. I don't see as many enthusiast vehicles. We have killed off more cars than created. Then we have the median of performance cars ie: the new Z and Mustang Gt is in the 50k mark. Back in 2013 the gt500 was MSRP of 60k i think that we are getting into a weird ass spot in our car history
Cost of living has constanly been going up, while average wages have not. The 90s were full of fun, affordable, enthusiast oriented sport coupes (think Celica, Corolla, MR 2, Del Sol, Eclipse/Talon, Silvia S13/S14/S15, 300ZX, Subaru XT and SVX, Porsche 924 and 944, and so on) that didn't sell, because by that time, most people couldn't afford to have a car with pretty much zero daily usability, and only fun factor. When your salary is such that you can basically only afford to keep 1 car, you want it to be useful for as many things as possible (that's one of the reasons everyone in the US has an SUV) Now, that whole segment is a GR86/BRZ and a Miata. That's it
50k for a mustang gt is pretty cheap…by historical standards. I have a 1971 mustang my father bought new back in 1971 before Nixon got us off gold. He paid 3,319 USD, or as he described roughly 2 years wages if you were at the bottom of the income spectrum. If I look at a modern one same trim and everything well what do you know roughly 2 years wages if you’re making minimum wage in my state. By that metric of 2 years wages for lowest income brackets, prices have not changed at all. The price went up nominally but not on real terms. It’s not so much the car got more expensive but more the fact the money became worth less and less as time goes on. Most people don’t understand compound interest….inflation compounds. A lot of people complain about pricing but seemingly never talked to their parents and grandparents about prices of old and how much time it would take to earn said money. Time is money. Most people just focus on it cost my parents x dollars for a car or a house but don’t take into mind the time.
A lot of the best enthusiast cars in the past could be purchased by a teen working at a burger joint. Most of the younger car guys that aren't into their careers yet are buying base model commuters from 10+ years ago (myself included.) I don't hate my Mazda 3. It has nimbleness and a 5 speed, as well as a 30+ mpg average. I just can't afford to buy a new GR86, and they will probably be only on the used market by the time I can. The 2013 FRS is still averaging 13k+ on the used market for mangled POS's. I payed $2500 cash for my car. You used to be able to get a good s13 for that.
@@Bonanzaking at the same time, in 1970, the average home costed around 25 thousand dollars. That would be 200 thousand in today's money, but the average sales price for a new home (even in 2022) was 540 thousand, according to statista Median income in the 1970s was around 9870 USD, which would be 77 thousand USD in 2023 dollars, in which year the median average income was 48 thousand.
@@istvanlorinczi2817 I’m not sure if you noticed, but I did not use the words median or average. I was measuring from the bottom of the income spectrum. It’s why I said minimum wage for a modern mustang not median income. When people use the average it’s skewed upward by the ultra wealthy. When people use the median it’s skewed upward by the middle income more professional jobs and trades. This middle is more affected by inflation on their earnings, the wages of the poorest goes up quicker than in the middle. Like minimum wage doubled over 10 years in my state, a plumber can’t say the same. The vast majority of people are NOT in the middle but the bottom of the pyramid. My father was a mechanic his whole life before retiring. A mechanic’s income is not at the bottom of the totem pole, and his description like many of my other boomer relatives line up for wages at the bottom in terms of time. One last thing when you cite statista, like many other site rely on the government’s figures for inflation….it’s in the government’s interest to underplay the severity of it. To quote Henry Ford “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
1 Timothy 6:10 For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows. James 5:1-8 Rich Oppressors Will Be Judged 1 Come now, you rich, weep and howl for your miseries that are coming upon you! 2 Your riches are corrupted, and your garments are moth-eaten. 3 Your gold and silver are corroded, and their corrosion will be a witness against you and will eat your flesh like fire. *You have heaped up treasure in the last days.* 4 Indeed the wages of the laborers who mowed your fields, which you kept back by fraud, cry out; and the cries of the reapers have reached the ears of the Lord of Sabaoth. 5 You have lived on the earth in pleasure and luxury; you have fattened your hearts as in a day of slaughter. 6 You have condemned, you have murdered the just; he does not resist you. Be Patient and Persevering 7 Therefore be patient, brethren, until the coming of the Lord. See how the farmer waits for the precious fruit of the earth, waiting patiently for it until it receives the early and latter rain. 8 You also be patient. Establish your hearts, for the coming of the Lord is at hand.
re: "but greed only cares about short term profits." see Wiki entry for Elon and Tesla Corp. ref: World's best DCFC team... "YOU'RE FIRED...!!!" (unhinged Elon/Trump The Apprentice mashup)
My 2004 VW Passat (built in Germany) has factory wheels and they carry the BBS mark behind the center cap so BBS is an OEM supplier of wheels which makes it baffling that their German wheel division would go bankrupt.
Wrong, Mitsubishi continues making some of the most capable 4x4 cars around the globe and some pretty reliable middle weight trucks. The USA market for the brand is another ball game.
There’s no question BBS makes quality wheels, but just too expensive. Enkei wheels are my favorite. I noticed the OEM wheels on both my G37 and STI were made by Enkei. I installed RPF1s on my MR2 and they really are awesome wheels👍.
As someone who has been playing the long game on cars, going to school for a STEM degree and has really just been into cars to maintain my chitbox addiction so far, I'm gonna miss some of these companies. I lusted after their products growing up. Once I can finally afford to do it right and be ahead of the cost of it, a lot of them will probably be gone.
1 John 2:15-17 15 Love not the world, neither the things that are in the world. If any man love the world, the love of the Father is not in him. 16 *For all that is in the world, the lust of the flesh, and the lust of the eyes, and the pride of life,* is not of the Father, but *is of the world.* 17 *And the world passeth away, and the lust thereof:* but he that doeth the will of God abideth for ever. 2 Peter 3:3-13 3 Knowing this first, that there shall come in the last days scoffers, *walking after their own lusts,* 4 And saying, Where is the promise of his coming? for since the fathers fell asleep, all things continue as they were from the beginning of the creation. 5 For this they willingly are ignorant of, that by the word of God the heavens were of old, and the earth standing out of the water and in the water: 6 Whereby the world that then was, being overflowed with water, perished: 7 But the heavens and the earth, which are now, by the same word are kept in store, reserved unto fire against the day of judgment and perdition of ungodly men. 8 But, beloved, be not ignorant of this one thing, that one day is with the Lord as a thousand years, and a thousand years as one day. 9 The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance. 10 *But the day of the Lord will come as a thief in the night; in the which the heavens shall pass away with a great noise, and the elements shall melt with fervent heat, the earth also and the works that are therein shall be burned up.* 11 *Seeing then that all these things shall be dissolved,* what manner of persons ought ye to be in all holy conversation and godliness, 12 Looking for and hasting unto the coming of the day of God, wherein the heavens being on fire shall be dissolved, and the elements shall melt with fervent heat? 13 Nevertheless we, according to his promise, look for new heavens and a new earth, wherein dwelleth righteousness. 14 Wherefore, beloved, seeing that ye look for such things, be diligent that ye may be found of him in peace, without spot, and blameless.
Bankruptcy in Germany is handled significantly different in German compared to what us Americans think of in terms of bankruptcy. Recaro and BBS will still survive and the German government will help keep them afloat.
Airlines started refurbishing their old seats with a different company. Many times when you are in a airline seat it may be been used in an older platform jet.
Im not surprised... Im sad but not surprised. Recaro is my favorite as they made a quality product. But the price has gotten beyond out of hand. Where FIA compliant, quality seats come now almost a dime a dozen. With a little extra cash custom, reupholster them, and you have something much happier than the current price of Recaros.
BBS was cool when automakers like Volkswagen and Audi released special edition cars with BBS wheels on them. I feel like I haven't seen that done since the MK4 GTI.
Recaro and BBS were a big deal in the 80’s, but that being said if you had them your car was getting stolen. When they found the car your wheels, seats and Blaupunkt radio were gone.
Kinda funny seeing random Recaro seats being posted for ridiculous amounts already. Saw a set of 2019 GT350 Seats advertised at 2800 per seat...... Just need to find a nice deal on a set of 79 Pacecar Recaros. And I'm golden. Lol 😆
OMG... When guy from US try to talk about european economic xD In Germany... And in couple more European countries, the best way to restart company is going bankrupt. Then - new owner (In BBS case) or company (in Recaro case) can erase part of debt, restructuring the company. New owner can sue old owner (in Fanatec and BBS case) and pump some cash to go back on market. This is not a RIP situation like you talking about. This is way for "fresh" start. And in Recaro case - only Germany branch is going to restructuring... Ah - Recaro is not onlu automotve - they have 4-or 5 branches creating seats for aviation, heavy industries, for home and kids bucket seats.
I LOVE Recaros! I have their 18 way seats in my 16 ATSV, just amazing. I wish they had an option in the new C8s. Tons of wheels I like. Enkie, had Volks on my drift/road race caged 350z. Forgelite in Canada are phenomenal wheels.
BBS are always out of stock, so you couldn’t buy them off the shelf if you wanted. Recaro seats are always nice too, but lines by other brands make them seem limited to consumers by either being too expensive or too fitment limited. I’d love some BBS and Recaro options for my Miata, they are not available off the shelf in fitments that suit my desires
I haven't sat my butt in a legit Recaro since 2002 when I had a 1990 Nissan Sentra hatchback (similar to a Sunny RZ1 just a lot slower lol). Engine mods weren't really available unless you could fabricate and adapt universal components and parts for other cars...which at that time I could not lol. I was pretty broke working at KFC so my options were limited. I bought some fairly nice looking wheels from a neighbor for 150 bucks which actually turned out to be a set of 15" Volk wheels. They had 6-squared off spokes similar to the TE37 but I remember them specifically not being those, and then a friend of mine gave me some 13" Volk Racing AV's cuz he was swapping his S13 to 5-lug lol. It got Tokico HP struts, H&R springs, 13" Grant GT steering wheel, generic Quest pedal covers/shift knob, Ractive strut braces, 2.5" catback to a Flowmaster 44. That same friend who had given me the Volk AV's also had a pair of all black Recaro seats with yellow fishnet in the headrests I was able to buy for 100 bucks cuz he had ordered a pair of Sparco Torino's after watching F&F lol. To their credit those Torino's felt great, but I absolutely loved having those old Recaro's in my boxy maroon colored Sentra lol.
Let's think about cars that had Recaro as standard in the last decade.. Fiesta & Focus ST, Focus RS, Renault Clio & Megane RS - just to name a few and they are all gone :/
I have 2 BBS subaru wrx sti wheels that smacked a curb from someone pretending to be ken block in the winter, it ate a chunk of the curb and broke the suspension of the car but the wheels are fine and still round with just a minor scratch
Someone who isn't me* likely story, lmao jk. This is why I was taught to never let anybody drive my cars. I didn't listen, and learned the hard way as well.
Recaro and BBS are top of the pack, though not for what they charge. BBS owned motorsports for many decades - especially Porsche for at least 50 years.
The HVAC splits in my barndominium are made by Mitsubishi. They are the only splits you can buy that you can get parts for. And they cool a lot of data centers.
Rising materials costs = BULL$HlT!!! It's the private equity firms and/or hedge funds that purchase these brands and loot them just like they did in 2020 to recaro. Here are some notable PE and hedge acquisitions CDK- (remember auto dealers software crash a few weeks ago) Toy-R-US Recaro Bed bath and beyond Hostess/wonder bread TWA airlines Sears Hertz
Actually Mitsubishi Fuso Canter 4x4 is highly desirable but now gone and missed. Recaro Automotive was acquired by a private equity company 4 years ago so only the automotive entity has gone bankrupt.
BBS has their iconic RS Mesh wheel, as used on countless BMWs in the 80’s. Unfortunately that wheel has fallen out of mainstream fashion. Demand for lightweight quality wheels has decreased as cars have gotten larger and heavier.
They were the jam in the 80’s and 90’s saleen mustangs , even then I did a fox body build in the 90’s and couldn’t afford them then , so bought leather “flow fit “copycat recaro’s back then! The flow fits are still solid and nice shape today . I can only imagine the Chinese made companies are slaughtering the custom seat market.
What's weird about Mitsubishi cars is they are/were huge in Texas. I find it funny that the state with the most 'Merica attitude is the only state I have seen them regularly and the only state I have seen a large dealership that sold only Mitsubishi cars. Outside of Texas I've only seen Mitsubishi dealers that were paired with Subaru dealers and it's normally not well advertised and just kind of a back of the lot deal. Like 'Oh I guess we sell those too' sort of thing.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Sonia
I really think a company with so much time and reputation should always have a sidekick company with a bit lower quality but lower prices too; that would ensure an income. I’m not sure if this was the case of Recaro and OMP.
Fanatec is in the same spot. Also a German company. I think something like 20 000 German businesses are estimated to go bankrupt this year. 5500 in the first quarter.
Private equity today is what corporate raiders did in the 70s and 80s. Buy a company, strip its valuable parts, saddle the rest withountains of debt, step back and watch it burn.
I never purchased aftermarket wheels or seats, but I also like to look/touch big purchases before I buy. I always thought it would be cool to have a contract with a company to have a small stock of product so you could test it out. of course people would mess it up by doing something stupid, but I honestly might order a seat or wheels if I could walk into autozone and get a look at them(maybe a row on the top shelf like walmart does with tires)
Only the automotive, and only the part that builds the seats is going down. Same for BBS. Both had leveraged buy outs and the money was due for it. The IP and licensing are both safe
So…. Cute video but… BBS has been in bankruptcy since 2019. KW bought them in 2021. BBS has been making a lot of wheels for many OEMs including Porsche. As far as aftermarket wheels are concerned, BBS has had some hits such as CH-R and more recently FI-R. German bankruptcies are mainly re-structuring type designed to make the corporate debt to go away.
For me when I think of bbs it's the snow flack style on 80's porsches and the double 5 spke style( kinda) on 6 Series bmw in 90's. I always want Recaros like the thumbnail for my foxbody
Saw an Ad for the new Mitsubishi Colt… my first reaction was why..what have they done with the badges on that (Renault) Clio? Then I realized what the ad was for and that led me to wonder why you would badge engineer a now old Renault Clio model… I wonder what Mitsubishi techs will think about Renault making the hole for the cabin air filter, half the height of the filter so you have to “rotate” it in, in a very particular way…
The US is not the only country that buys cars. Mitsubishi sells car around the world, and their cars get bought. Mirage is popular in Asia, their SUVs and pickup trucks are also popular in Asia.
Yeh if someone like Volkswagen group said we won't be using you any more I would imagine that could sink a lot of companies. Like how Boeing is really going to be in a bad spot if the US government cancels all their contracts with them.
WAIT, WHAT!! They went Bankrupt! HOW TF DID THIS HAPPEN. Those are two VERY Integral brands in the auto industry. Also, Mitsubishi Blows. Without the Pre 2000's Eclipse, Evo's, and 3000GT, Mitsubishi is just a Zombie Brand.
Recaro from 1906 till 2024 is amazing regardless, when ya said they had seats in the airlines and lost a big contract, I immediately thought of Boeing😂😂😂
Try making a cheap comfortable seat and sell them to car companys I loved my Recaros in my C4 corvette it was the best seats I ever had. For BBS do the same but a big focus on carbon fiber the first company to come out with a cheap carbon fiber wheel will make millions
I find it interesting how they are both the german automotive branch and fanatec a German sim racing company is also in trouble. Is something going on in Germany that we dont know about?? On the bbs and Recaro part i certainly think part of their issue recently has been price. With the rise of inflation people are struggling to afford the things they need so when they manage to same a bit to get new seats or wheels brands like BBS and Recaro that are charging a premium get ignored and they look at more affordable options. I can spend 1k usd on a pair of entry level FIA certified sparcos from sparcos website or over 1k on 1 Recaro from a reputable retailer cause you cant order recaros from their site. Sparco has done the seat market right they offer seats down in the 300-400 usd range to 3k+ seats. Where as recaro doesnt have any budget friendly.
There is a common denominator here - both made in Germany and I don't think either of them have farmed their production out to China. Germany is a very high cost country to manufacture in. That's the reason that the 3 German car makers all make high priced but unreliable cars - they cut every corner and hide it behind brand recognition and bling.
Both German subsidiaries have filed for bankruptcy. Not the entire brand, only in Germany. Btw, It is the 5th time that BBS has file for bankrupt since 2007. There's no need for this drama.😅
Recaros are nice, but i havent really been in them long enough to form a solid opinion. Nothing bad to say about them. The recaros in the 03-04 focus svt are very nice
What is your favorite wheel and seat brand?
The ones my vehicle came with.
Those one brands that currently went on bankruptcy
Thrash racing seats and work wheels
Rays and Recaro!
Work and Sparco
I will bet dollars to donuts that private equity bought them, ran it into the ground, saddled Recaro with debt, and filed for bankruptcy. Same thing as Red Lobster and Toys R Us.
Red lobster is bankrupt? Bro were i live we got a red lobster
@@goshbaby8531 bankruptcy doesn't mean dissengrated. To my knowledge you can work through bankruptcy, I could be wrong tho
@@obomasinladen There are 2 chapters of bankruptcy. Chapter 11 and Chapter 7. Chapter 7 is when three business dissolves and all assets sold. Chapter 11 is when the business negotiates with creditors in court, restructuring, and is given an ability to return to business.
It's always private equity. 110% of the time you can blame it on private equity and you'd be right.
@@goshbaby8531 Fairly certain they did Chapter 11 which allows some operations to continue, could be wrong. But mainly, private equity buyouts are toxic and almost always destroy companies
It’s BBS and Recaro Germany divisions though, not the entire organization.
This needs to be higher. So much misinformation.
BBS' German division didn't even make aftermarket wheels anymore. Not to mention that this is their 3rd bankruptcy in 4 years time with the last one being only 10 months ago
The German Auto industry will also go bankrupt to Tesla and Chinese ev manufacturers
@@larryc1616 part of their problem is when they shot themselves in the foot by not having cheap oil and other trade with Russia. The inflation over this is high
@@briangriffith3985
What are you talking about ..... this is nuts
Lemme guess : not enough people could afford their products?
While that may be part of it. The car scene isn’t what it used to be
The car scene not being what it used to be is likely because cars too expensive these days
@@acid2824
Prolly because everything related to them, like seats and wheels, are too expensive lol.
@@Clockwork0nions Good isn't cheap and cheap isn't good. There is a reason that classic Recaro seats and wheels maintain their value.
@@ExhumedToConsume
Maybe related to the reason they’re no longer in business. There is such a thing as pricing yourself out of a market.
Recaro needed to sort their pricing out. Their classic seat costs £2000 for one seat whereas cobra make a very similar seat thats around £1000 for a pair. For a few hundred more they’ll custom upholster them with the finest materials. Similar thing with bbs and the wheel industry is so much more competitive.
I checked the other day for the configurator and the seats looked closer to £1500-2000 for the pair, still expensive but deffo seems better value than a Recaro
100% right
Lemme guess.. everyone with recaro seats are now going to say "I know what I have so lemme price them 5x as they normally are.
That would be dumb because you can still buy them from Recaro at regular price. They aren't out of business. That's not what bankrupt means.
Already like that for mk4 gli vw seats
@@Treaxvourcould be referring to “factory equipped” Recaros, maybe those recaros that originally came with the car when brand new. Not giving out ideas cuz those resold ones will be loaded with 💨
🤣🤣🤣🤣 💯
Testing waters I know what I have
@Treaxvour I know that but others I'm sure somewhere won't know that
Recaro prices 📈
my sr3s 🫶
And Recaro quality which nowadays is garbage. All made in Mexico crap, at least it's not made in China I guess.
Nah
I have a pair “focus RS” style in my NISMO apparently in the states they want 3500 bucks 😮
Both Recaro and BBS refused to adjust their prices in the face of increasing competition.
Investment firm buying companies usually means high prices, lower quality. Until the companies death spiral, that the Investment firm can sell for a profit.
Many other German companies are currently facing the same fate. Fanatec is another one 😢
It's because fanatec sucks and has horrible customer service
@@brodyhanna7443 I’ve not used any of their products so couldn’t comment, but they’re not alone as insolvencies are up over 25% this year in Germany.
Is the German economy currently in the process of imploding? I've never seen so many prominent German companies declare bankruptcy in such a short period of time.
Because german gov is garbage.
Thats because they had over 60000 orders in 1 day and have like 10 ppl working there lol.@@brodyhanna7443
think you forgot the counterfeit market hurting these brands
Honestly - great point as well.
"And when everyone has BBS LMs, muahahahahah, 𝗻𝗼 𝗼𝗻𝗲 𝗮𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝘄𝗶𝗹𝗹. " - the rep wheel market, probably
@@CyanRooper also especially interesting that Apex released their lightweight "affordable solution to the BBS E88" to the market recently hermmmmm
yes but those people were never bbs customers anyway, they'd get hotwheels branded wheels instead
personally i will NEVER buy anything but authentic Enkei RPF1's. if i have to be patient, and discipline myself to SAVE UP for them...? okay then so be it. in the meantime i'll just continue rolling on my stock Honda Factory Rims, which fortunately are pretty nice as OEM which ironically is also UNFORTUNATE in that the theft of stock Honda wheels (because like Audi wheels they're so nicely designed and rival Aftermarket designs) has begun ramping back up. yeah just watched a news reports showing someone's brand new CRV or Passport SUV (not sure which) sitting on milk crates. yes being plastic the milk crates had crushed and collapsed under the weight, but i guess it was just enough to get the jack out from under the pinch weld.
The bbs LM and mesh wheels are their bread and butter. The LM is cloned by most of the big wheel brands
Excellent opportunity to start my own knock off seats. I’ll call them Ricardo’s and I’ll hire a Puerto Rican with a diamond and gold grill to be the poster boy.
Do we think this is a systemic issue? I feel like the car community is dying off. I don't see as many enthusiast vehicles. We have killed off more cars than created. Then we have the median of performance cars ie: the new Z and Mustang Gt is in the 50k mark. Back in 2013 the gt500 was MSRP of 60k i think that we are getting into a weird ass spot in our car history
Cost of living has constanly been going up, while average wages have not. The 90s were full of fun, affordable, enthusiast oriented sport coupes (think Celica, Corolla, MR 2, Del Sol, Eclipse/Talon, Silvia S13/S14/S15, 300ZX, Subaru XT and SVX, Porsche 924 and 944, and so on) that didn't sell, because by that time, most people couldn't afford to have a car with pretty much zero daily usability, and only fun factor. When your salary is such that you can basically only afford to keep 1 car, you want it to be useful for as many things as possible (that's one of the reasons everyone in the US has an SUV)
Now, that whole segment is a GR86/BRZ and a Miata. That's it
50k for a mustang gt is pretty cheap…by historical standards. I have a 1971 mustang my father bought new back in 1971 before Nixon got us off gold. He paid 3,319 USD, or as he described roughly 2 years wages if you were at the bottom of the income spectrum. If I look at a modern one same trim and everything well what do you know roughly 2 years wages if you’re making minimum wage in my state. By that metric of 2 years wages for lowest income brackets, prices have not changed at all.
The price went up nominally but not on real terms. It’s not so much the car got more expensive but more the fact the money became worth less and less as time goes on. Most people don’t understand compound interest….inflation compounds.
A lot of people complain about pricing but seemingly never talked to their parents and grandparents about prices of old and how much time it would take to earn said money. Time is money. Most people just focus on it cost my parents x dollars for a car or a house but don’t take into mind the time.
A lot of the best enthusiast cars in the past could be purchased by a teen working at a burger joint. Most of the younger car guys that aren't into their careers yet are buying base model commuters from 10+ years ago (myself included.) I don't hate my Mazda 3. It has nimbleness and a 5 speed, as well as a 30+ mpg average. I just can't afford to buy a new GR86, and they will probably be only on the used market by the time I can. The 2013 FRS is still averaging 13k+ on the used market for mangled POS's. I payed $2500 cash for my car. You used to be able to get a good s13 for that.
@@Bonanzaking at the same time, in 1970, the average home costed around 25 thousand dollars. That would be 200 thousand in today's money, but the average sales price for a new home (even in 2022) was 540 thousand, according to statista
Median income in the 1970s was around 9870 USD, which would be 77 thousand USD in 2023 dollars, in which year the median average income was 48 thousand.
@@istvanlorinczi2817 I’m not sure if you noticed, but I did not use the words median or average. I was measuring from the bottom of the income spectrum. It’s why I said minimum wage for a modern mustang not median income.
When people use the average it’s skewed upward by the ultra wealthy. When people use the median it’s skewed upward by the middle income more professional jobs and trades. This middle is more affected by inflation on their earnings, the wages of the poorest goes up quicker than in the middle. Like minimum wage doubled over 10 years in my state, a plumber can’t say the same. The vast majority of people are NOT in the middle but the bottom of the pyramid. My father was a mechanic his whole life before retiring. A mechanic’s income is not at the bottom of the totem pole, and his description like many of my other boomer relatives line up for wages at the bottom in terms of time.
One last thing when you cite statista, like many other site rely on the government’s figures for inflation….it’s in the government’s interest to underplay the severity of it.
To quote Henry Ford “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
Greed ruins everything, including passions. Even though passion can make more money in the long run, but greed only cares about short term profits.
1 Timothy 6:10
For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows.
James 5:1-8
Rich Oppressors Will Be Judged
1 Come now, you rich, weep and howl for your miseries that are coming upon you! 2 Your riches are corrupted, and your garments are moth-eaten. 3 Your gold and silver are corroded, and their corrosion will be a witness against you and will eat your flesh like fire. *You have heaped up treasure in the last days.* 4 Indeed the wages of the laborers who mowed your fields, which you kept back by fraud, cry out; and the cries of the reapers have reached the ears of the Lord of Sabaoth. 5 You have lived on the earth in pleasure and luxury; you have fattened your hearts as in a day of slaughter. 6 You have condemned, you have murdered the just; he does not resist you.
Be Patient and Persevering
7 Therefore be patient, brethren, until the coming of the Lord. See how the farmer waits for the precious fruit of the earth, waiting patiently for it until it receives the early and latter rain. 8 You also be patient. Establish your hearts, for the coming of the Lord is at hand.
re: "but greed only cares about short term profits." see Wiki entry for Elon and Tesla Corp. ref: World's best DCFC team... "YOU'RE FIRED...!!!" (unhinged Elon/Trump The Apprentice mashup)
🎶ITS THE END OF AN ERA AS WE KNOW IT 🎶
When I was a teenager in the late 90s I helped an old lady at my church move. She had a huge big screen tv and to my surprise it was a Mitsubishi lol.
My grandma also had one. I’ve also seen the ac units he’s talking about and thats when I started researching
Ya my friends dad had this huge I think 24 inch monitor for his computer in his little workshop in late 90s early 2000s I was blown away
My family’s old living room TV was a Mitsubishi. Great TV but heavy af!
My 2004 VW Passat (built in Germany) has factory wheels and they carry the BBS mark behind the center cap so BBS is an OEM supplier of wheels which makes it baffling that their German wheel division would go bankrupt.
My 04 vw Jetta gli has the oem bbs and factory recaro seats
My 1983 911 turbo has BBS wheels as a d factory option.
Wrong, Mitsubishi continues making some of the most capable 4x4 cars around the globe and some pretty reliable middle weight trucks. The USA market for the brand is another ball game.
Yup. Fuso is Mitsubishi I think.
He specified that he was talking about the American market.
That might be true but what they offer in the US is crap.
@@allwellbudMitsubishi Fuso is owned by mercedes benz trucks since a couple of years
I must have met over 200 people in the car world in my years, only 12 of them had genuine BBS or Recaro products
There’s no question BBS makes quality wheels, but just too expensive.
Enkei wheels are my favorite. I noticed the OEM wheels on both my G37 and STI were made by Enkei. I installed RPF1s on my MR2 and they really are awesome wheels👍.
As someone who has been playing the long game on cars, going to school for a STEM degree and has really just been into cars to maintain my chitbox addiction so far, I'm gonna miss some of these companies. I lusted after their products growing up. Once I can finally afford to do it right and be ahead of the cost of it, a lot of them will probably be gone.
Good thing there are millions of them in the secondary market.
Bankruptcy doesn't necessarily mean the end of the company.
1 John 2:15-17
15 Love not the world, neither the things that are in the world. If any man love the world, the love of the Father is not in him.
16 *For all that is in the world, the lust of the flesh, and the lust of the eyes, and the pride of life,* is not of the Father, but *is of the world.*
17 *And the world passeth away, and the lust thereof:* but he that doeth the will of God abideth for ever.
2 Peter 3:3-13
3 Knowing this first, that there shall come in the last days scoffers, *walking after their own lusts,*
4 And saying, Where is the promise of his coming? for since the fathers fell asleep, all things continue as they were from the beginning of the creation.
5 For this they willingly are ignorant of, that by the word of God the heavens were of old, and the earth standing out of the water and in the water:
6 Whereby the world that then was, being overflowed with water, perished:
7 But the heavens and the earth, which are now, by the same word are kept in store, reserved unto fire against the day of judgment and perdition of ungodly men.
8 But, beloved, be not ignorant of this one thing, that one day is with the Lord as a thousand years, and a thousand years as one day.
9 The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance.
10 *But the day of the Lord will come as a thief in the night; in the which the heavens shall pass away with a great noise, and the elements shall melt with fervent heat, the earth also and the works that are therein shall be burned up.*
11 *Seeing then that all these things shall be dissolved,* what manner of persons ought ye to be in all holy conversation and godliness,
12 Looking for and hasting unto the coming of the day of God, wherein the heavens being on fire shall be dissolved, and the elements shall melt with fervent heat?
13 Nevertheless we, according to his promise, look for new heavens and a new earth, wherein dwelleth righteousness.
14 Wherefore, beloved, seeing that ye look for such things, be diligent that ye may be found of him in peace, without spot, and blameless.
This is the 4th or 5th time Recaro has filed for bankruptcy and it was only their German division. They aren't going anywhere.
RIP. Donut and Hoonigan
Donut really sucked. It was like Sesame Street for younger car enthusiasts.
@@rabidrabiesracing hmmm Interesting comparison
Loved the Recaro's in my 17 Shelby GT350
bingo, loved the Recaros in a 2018 Camaro 1LE.
@@phillyphil1513 Nice!
These info rundown videos are awesome David!
Bankruptcy in Germany is handled significantly different in German compared to what us Americans think of in terms of bankruptcy. Recaro and BBS will still survive and the German government will help keep them afloat.
Airlines started refurbishing their old seats with a different company. Many times when you are in a airline seat it may be been used in an older platform jet.
my grandfather had a 1982 vw westfalia with Recaro's in it. That thing was sick.
Im not surprised... Im sad but not surprised.
Recaro is my favorite as they made a quality product. But the price has gotten beyond out of hand. Where FIA compliant, quality seats come now almost a dime a dozen.
With a little extra cash custom, reupholster them, and you have something much happier than the current price of Recaros.
Bbs has that wheel LMS are bbs's bread and butter. The issue is depending on the spec. They cost anywhere from 3 to 10 grand which no one can afford
Your audio is straight jacked 😵💫
BBS was cool when automakers like Volkswagen and Audi released special edition cars with BBS wheels on them. I feel like I haven't seen that done since the MK4 GTI.
Recaro and BBS were a big deal in the 80’s, but that being said if you had them your car was getting stolen. When they found the car your wheels, seats and Blaupunkt radio were gone.
Kinda funny seeing random Recaro seats being posted for ridiculous amounts already. Saw a set of 2019 GT350 Seats advertised at 2800 per seat......
Just need to find a nice deal on a set of 79 Pacecar Recaros. And I'm golden. Lol 😆
OMG... When guy from US try to talk about european economic xD
In Germany... And in couple more European countries, the best way to restart company is going bankrupt. Then - new owner (In BBS case) or company (in Recaro case) can erase part of debt, restructuring the company. New owner can sue old owner (in Fanatec and BBS case) and pump some cash to go back on market. This is not a RIP situation like you talking about.
This is way for "fresh" start. And in Recaro case - only Germany branch is going to restructuring...
Ah - Recaro is not onlu automotve - they have 4-or 5 branches creating seats for aviation, heavy industries, for home and kids bucket seats.
its a rip situation until we get a financial reset which might not happen in an few years
@@iPlatano07 its not rip because US and Japan branch is fully operative.
Probably in 4-6 weeks from yesterday, Recaro Germany will be back :)
@@Zwirz_ It's the same here in the US... The other 2 and the video maker are just stupid and don't understand basic business practices.
@@Zwirz_ well financial numbers dont look good overall right now. Not in Japan, not in the US. It will take alot for them to recover.
This is the same in the US.
What if the big automotive client was stellantis? Their announcement things are going poorly might mean they are cutting back on some suppliers.
BBS wheels are the pressure cast CH and forged LM wheels both of which are iconic! I have the CH and have never had problems with them!
I LOVE Recaros! I have their 18 way seats in my 16 ATSV, just amazing. I wish they had an option in the new C8s. Tons of wheels I like. Enkie, had Volks on my drift/road race caged 350z. Forgelite in Canada are phenomenal wheels.
BBs rs’s were the go to wheel…also the BBs e88’s
I was thinking the LM or the mesh wheels
BBS are always out of stock, so you couldn’t buy them off the shelf if you wanted. Recaro seats are always nice too, but lines by other brands make them seem limited to consumers by either being too expensive or too fitment limited. I’d love some BBS and Recaro options for my Miata, they are not available off the shelf in fitments that suit my desires
I haven't sat my butt in a legit Recaro since 2002 when I had a 1990 Nissan Sentra hatchback (similar to a Sunny RZ1 just a lot slower lol). Engine mods weren't really available unless you could fabricate and adapt universal components and parts for other cars...which at that time I could not lol. I was pretty broke working at KFC so my options were limited. I bought some fairly nice looking wheels from a neighbor for 150 bucks which actually turned out to be a set of 15" Volk wheels. They had 6-squared off spokes similar to the TE37 but I remember them specifically not being those, and then a friend of mine gave me some 13" Volk Racing AV's cuz he was swapping his S13 to 5-lug lol. It got Tokico HP struts, H&R springs, 13" Grant GT steering wheel, generic Quest pedal covers/shift knob, Ractive strut braces, 2.5" catback to a Flowmaster 44. That same friend who had given me the Volk AV's also had a pair of all black Recaro seats with yellow fishnet in the headrests I was able to buy for 100 bucks cuz he had ordered a pair of Sparco Torino's after watching F&F lol. To their credit those Torino's felt great, but I absolutely loved having those old Recaro's in my boxy maroon colored Sentra lol.
Maybe Recaro could charge 50% less for their seats.
There seats had low quality. The seat covers never lasted that long and always needed repairs.
Saw something on the Cobra, be cool to see more. I hope Recaro lives on... had a few in my time and I have a set sitting in my garage. Odd days.
Let's think about cars that had Recaro as standard in the last decade.. Fiesta & Focus ST, Focus RS, Renault Clio & Megane RS - just to name a few and they are all gone :/
I have 2 BBS subaru wrx sti wheels that smacked a curb from someone pretending to be ken block in the winter, it ate a chunk of the curb and broke the suspension of the car but the wheels are fine and still round with just a minor scratch
Someone who isn't me* likely story, lmao jk. This is why I was taught to never let anybody drive my cars. I didn't listen, and learned the hard way as well.
Recaro and BBS are top of the pack, though not for what they charge. BBS owned motorsports for many decades - especially Porsche for at least 50 years.
The HVAC splits in my barndominium are made by Mitsubishi. They are the only splits you can buy that you can get parts for. And they cool a lot of data centers.
Rising materials costs = BULL$HlT!!! It's the private equity firms and/or hedge funds that purchase these brands and loot them just like they did in 2020 to recaro.
Here are some notable PE and hedge acquisitions
CDK- (remember auto dealers software crash a few weeks ago)
Toy-R-US
Recaro
Bed bath and beyond
Hostess/wonder bread
TWA airlines
Sears
Hertz
You can put the Hooters franchise on that list too.
Actually Mitsubishi Fuso Canter 4x4 is highly desirable but now gone and missed. Recaro Automotive was acquired by a private equity company 4 years ago so only the automotive entity has gone bankrupt.
BBS has their iconic RS Mesh wheel, as used on countless BMWs in the 80’s. Unfortunately that wheel has fallen out of mainstream fashion. Demand for lightweight quality wheels has decreased as cars have gotten larger and heavier.
They were the jam in the 80’s and 90’s saleen mustangs , even then I did a fox body build in the 90’s and couldn’t afford them then , so bought leather “flow fit “copycat recaro’s back then! The flow fits are still solid and nice shape today . I can only imagine the Chinese made companies are slaughtering the custom seat market.
What's weird about Mitsubishi cars is they are/were huge in Texas. I find it funny that the state with the most 'Merica attitude is the only state I have seen them regularly and the only state I have seen a large dealership that sold only Mitsubishi cars. Outside of Texas I've only seen Mitsubishi dealers that were paired with Subaru dealers and it's normally not well advertised and just kind of a back of the lot deal. Like 'Oh I guess we sell those too' sort of thing.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Wow you give me hope
Please how's that possible, I'm curious
Please how do i go about it, am still a newbie on investment trading and how can I make profit?
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Sonia
Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading
Private equity firms have their fingers in EVERY industry and are actively destroying all of them.
I really do not think it mattered. In this crushing economy who can afford $2500\ea seats?
I really think a company with so much time and reputation should always have a sidekick company with a bit lower quality but lower prices too; that would ensure an income. I’m not sure if this was the case of Recaro and OMP.
Recaro made the driver and passenger seats in the 3rd gen Honda Prelude! Still to this day..they are some of the best seats offered in any Honda IMO!
Fanatec is in the same spot. Also a German company. I think something like 20 000 German businesses are estimated to go bankrupt this year. 5500 in the first quarter.
Private equity today is what corporate raiders did in the 70s and 80s. Buy a company, strip its valuable parts, saddle the rest withountains of debt, step back and watch it burn.
The Maverick was a mini mustang/ muscle car back in the day. Ford runined the Maverick name just like Mitsubishi did to the Eclipse.
BBS could do lightweight monoblocks to still cater towards their racing heritage but keep pricing down to appeal to middle market wheel buyers.
I never purchased aftermarket wheels or seats, but I also like to look/touch big purchases before I buy. I always thought it would be cool to have a contract with a company to have a small stock of product so you could test it out. of course people would mess it up by doing something stupid, but I honestly might order a seat or wheels if I could walk into autozone and get a look at them(maybe a row on the top shelf like walmart does with tires)
That's very common in Japan, they have tons of shops with seats you can sit in, etc. A local shop to me has some but they're hung up on the wall.
BBS is always declaring bankruptcy smh. I vaguely remember the one in 2011 but apparently there was one in 2020 and 2023.
They used to make the seats for midwest airlines, which went bust years ago sadly. Miss those warm chocolate chip cookies.
Only the one of the 3 company are affected.
Just because a brand is everywhere doesn't mean they're doing good
Only the automotive, and only the part that builds the seats is going down. Same for BBS. Both had leveraged buy outs and the money was due for it. The IP and licensing are both safe
Not me watching this in my Outlander Sport... which I love.
The price of NRG seats make more sense today.
Only way they go under is people in the company making too much money and not doing enough, most high level corporate jobs
Being bought out by an investment firm is certain death for said company
So…. Cute video but…
BBS has been in bankruptcy since 2019. KW bought them in 2021. BBS has been making a lot of wheels for many OEMs including Porsche. As far as aftermarket wheels are concerned, BBS has had some hits such as CH-R and more recently FI-R. German bankruptcies are mainly re-structuring type designed to make the corporate debt to go away.
For me when I think of bbs it's the snow flack style on 80's porsches and the double 5 spke style( kinda) on 6 Series bmw in 90's. I always want Recaros like the thumbnail for my foxbody
Little known fact about Mitsubishi. They actually make shafts for golf clubs too. The more you know lol
The Recaro seats in my Focus ST were great!
Saw an Ad for the new Mitsubishi Colt… my first reaction was why..what have they done with the badges on that (Renault) Clio?
Then I realized what the ad was for and that led me to wonder why you would badge engineer a now old Renault Clio model… I wonder what Mitsubishi techs will think about Renault making the hole for the cabin air filter, half the height of the filter so you have to “rotate” it in, in a very particular way…
The US is not the only country that buys cars. Mitsubishi sells car around the world, and their cars get bought. Mirage is popular in Asia, their SUVs and pickup trucks are also popular in Asia.
Yeh if someone like Volkswagen group said we won't be using you any more I would imagine that could sink a lot of companies. Like how Boeing is really going to be in a bad spot if the US government cancels all their contracts with them.
The E30 I bought had stock BBS wheels, so at one time they were a BMW supplier.
The rumor is that BBS USA has been doing the same thing that Tomei USA did back in 2019.
WAIT, WHAT!!
They went Bankrupt!
HOW TF DID THIS HAPPEN. Those are two VERY Integral brands in the auto industry.
Also, Mitsubishi Blows.
Without the Pre 2000's Eclipse, Evo's, and 3000GT, Mitsubishi is just a Zombie Brand.
They priced themselves out of the market. No matter how quality your product is, if it’s too expensive, people just can’t afford it.
Recaro from 1906 till 2024 is amazing regardless, when ya said they had seats in the airlines and lost a big contract, I immediately thought of Boeing😂😂😂
Aftermarket Brands should Partner with OEM manufacturers to make all their seats to get their name out there more to the mainstream
FUN FACT: in 1995 Mitsubishi was the largest company in the world by market cap.
Don’t forget German sim racing equipment company Fanatec which has also just filed for bankruptcy…
With BBS I think of the CH-R. Not whatever you mentioned lol.
The BR275 Snowcat I operated back in 2005 had legit Recaro's.
May: Breaking news recaro and bbs have filed for bankruptcy
Clarkson: Oh no! Anyways
It doesn’t help that all these rep companies are so big now. Kids trying to build a car see the low price and choose reps over reals.
Try making a cheap comfortable seat and sell them to car companys I loved my Recaros in my C4 corvette it was the best seats I ever had. For BBS do the same but a big focus on carbon fiber the first company to come out with a cheap carbon fiber wheel will make millions
The Problem with BBS ist the price a set of wheels is like 2500€ without tires and it can get more expensive
I find it interesting how they are both the german automotive branch and fanatec a German sim racing company is also in trouble. Is something going on in Germany that we dont know about??
On the bbs and Recaro part i certainly think part of their issue recently has been price. With the rise of inflation people are struggling to afford the things they need so when they manage to same a bit to get new seats or wheels brands like BBS and Recaro that are charging a premium get ignored and they look at more affordable options. I can spend 1k usd on a pair of entry level FIA certified sparcos from sparcos website or over 1k on 1 Recaro from a reputable retailer cause you cant order recaros from their site.
Sparco has done the seat market right they offer seats down in the 300-400 usd range to 3k+ seats. Where as recaro doesnt have any budget friendly.
Many car manufacturers have their own seat production now.
Mitsubishi Ute’s are one of the best recognised brands in the world.
There is a common denominator here - both made in Germany and I don't think either of them have farmed their production out to China.
Germany is a very high cost country to manufacture in.
That's the reason that the 3 German car makers all make high priced but unreliable cars - they cut every corner and hide it behind brand recognition and bling.
Happy to see mini trucks making a comeback even if some of them look kinda dumb 🤷🏻♂️
Well done, Mr. Patterson.
Both German subsidiaries have filed for bankruptcy. Not the entire brand, only in Germany.
Btw, It is the 5th time that BBS has file for bankrupt since 2007. There's no need for this drama.😅
Recaros are nice, but i havent really been in them long enough to form a solid opinion. Nothing bad to say about them. The recaros in the 03-04 focus svt are very nice