A softer year-ago comparison and a five-weekend selling month lifted the sales pace, but the year-to-date total remained below last year. New light-vehicle sales reached a seasonally adjusted annual rate (SAAR) of 16.1 million units in May 2026, up 3.1% from May 2025, according to the latest National Automobile Dealers Association (NADA) Market Beat report […]
AutoCanada Enters Thunder Bay With Acquisition of Mascarin Collision Centre
AutoCanada Inc. (TSX: ACQ) has completed its acquisition of Mascarin Collision Centre, a collision repair business in Thunder Bay, Ontario, the company said June 10. The deal establishes AutoCanada’s first presence in the Northern Ontario transportation hub and grows the company’s collision network to 36 centers. The acquisition lands two days after AutoCanada closed its […]
U.S. Light Vehicle Aftermarket Forecast to Grow 5.2% in 2026, Top $500 Billion by 2029
The total U.S. light-duty automotive aftermarket is projected to grow 5.2% year over year in 2026, with the market forecast to surpass $500 billion by 2029, according to the 2026 Joint Channel Market Size and Forecast released June 11 by the Auto Care Association and MEMA Aftermarket Suppliers. The report cites rising penetration of advanced […]
IAA Increases Annual CREF Donation to $100,000
Insurance Auto Auctions, Inc. (IAA) is raising its annual contribution to the Collision Repair Education Foundation (CREF) from $75,000 to $100,000 in 2026, the foundation announced. “We increased our donation because the need has grown,” said Mark Helvenston, vice president at IAA and a former CREF board vice chair. “Schools are struggling to keep programs […]
Collision Repair Industry Production Down in April
Production was down in April both month over month and year over year. Wages for all employees reached new records as production hourly wage growth accelerated to 12.5% from a year earlier. An analysis of the latest data released from the U.S. Department of Labor Bureau of Labor Statistics (BLS) covering the preliminary April collision […]
AkzoNobel Issues €750 Million Bond to Support Axalta Merger Financing
AkzoNobel N.V. (AMS: AKZA; OTCMKTS: AKZOY) on June 9 launched a €750 million ($868 million) bond with a three-year maturity and a coupon of 3.625%, with proceeds supporting financing initiatives related to the company’s proposed merger with Axalta Coating Systems Ltd. The bond issue is the latest step toward completing the $25 billion all-stock merger […]
Driven Brands Reports First Quarter Revenue of $484.4 Million
Sees collision repair industry stabilizing in 2026. Driven Brands Holdings Inc. (NASDAQ: DRVN), the parent company of collision repair networks CARSTAR, Abra and Fix Auto USA and paint franchise Maaco, on June 11 reported first quarter 2026 revenue increased 8% to $484.4 million, with same-store sales up 2.1% across the company’s portfolio. The report marks […]
GEICO Names David Foy Chief Financial Officer
Veteran insurance finance executive joins the third-largest U.S. auto insurer effective June 29, reporting to CEO Nancy Pierce. GEICO announced June 10 that David Foy has been appointed chief financial officer, effective June 29. Foy will be based at the insurer’s headquarters in Bethesda, Md., report to chief executive officer Nancy Pierce and oversee all […]
IIHS Launches First Commercial Vehicle Safety Evaluations
Four of nine models meet driver protection criteria. The Insurance Institute for Highway Safety (IIHS) released the results of its first evaluations of commercial vehicles June 9, finding that four of the first nine heavy-duty pickups and cargo vans assessed come with all the features the institute considers essential for driver protection, including standard front […]
Gas Prices Fall for Third Straight Week to $4.13
The U.S. national average price of regular gasoline has fallen for three consecutive weeks, dropping to $4.13 from a May 21 peak of $4.56, AAA reported June 11. The 43-cent decline brings some relief to drivers at the start of the busy summer travel season, aided by West Texas Intermediate crude holding below $100 a […]
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