|A move outside of Auto Indutry|
|Tiny cameras replace side mirrors, cutting fuel consumption by 2% at highway speeds|
Gentex Corporation (NASDAQ: GNTX) is the world's largest manufacturer of auto-dimming, glare-reducing rear-view mirrors, with over 12 million mirrors sold annually and a total capacity 25 million mirrors. Nearly all of the company's sales are made to auto manufactures, indicating the company's performance is tightly correlated to the overall health of the automotive industry. In addition to making rear-view mirrors, the company also makes fire protection products and dimmable aircraft windows.
Only 18% of the nearly 60 million vehicles sold worldwide annually, have an interior self-dimming mirror. The company estimates that the potential market for automatic dimming mirrors is 50% of the light vehicles produced each year (approximately 30 million) which represents a $3 billion potential market. Both houses of Congress have passed an automotive safety bill that sets higher rearview mirror visibility standards. Given that Gentex controls 83% of the market for auto dimming rear view mirrors, a large increase in demand due to the proposed legislation will disproportionately affect the company.(Read more at Wikinvest )