Companion research shows consumer purchase sentiment migrates toward hybrid vehicles. Extreme temperatures sharply reduce the efficiency of electric vehicles and hybrids and drive up operating costs, with cold weather hitting both powertrains harder than heat, according to research released May 1 by AAA. AAA’s automotive engineering team, working with the Automobile Club of Southern California’s […]
Axalta Reports Sales of $1.25 Billion in First Quarter
Axalta Coating Systems Ltd. (NYSE: AXTA) reported first quarter net sales of $1.25 billion, down 1% year-over-year, as the global coatings company beat its own guidance on revenue, adjusted earnings and adjusted earnings per share while delivering record first quarter cash generation. The company posted net income of $91 million, down 8% from the prior […]
I-CAR Opens Call for 2026 Board of Directors Candidates
I-CAR is accepting applications for its 2026 Board of Directors election, with a June 2 deadline for candidates seeking one of four open seats, the organization announced May 1. The 2026 cycle is the first election conducted under bylaw amendments approved by I-CAR Regular Members in August 2025 that clarified eligibility rules for collision repair […]
California Volkswagen Dealers File State Protests Over Scout Motors Direct Sales
Fourteen California Volkswagen dealers have filed protests at the state’s New Motor Vehicle Board challenging Volkswagen and its Scout Motors subsidiary over plans to sell Scout vehicles directly to consumers, opening a second legal front against the automaker’s direct-to-consumer strategy. The California New Car Dealers Association announced the filings May 1. The protests allege Volkswagen […]
GEICO First-Quarter Underwriting Earnings Fall 34.8% as Claim Frequency Declines Reverse
Private passenger auto claim frequencies and severity climbed across all coverages in the first quarter, reversing recent favorable trends. GEICO’s pre-tax underwriting earnings fell to $1.416 billion in the first quarter of 2026, down $757 million, or 34.8%, from $2.173 billion in the first quarter of 2025, Berkshire Hathaway disclosed in its quarterly report filed […]
Caliber Names Jason Monaco Chief Financial Officer
Caliber, the parent of Caliber Collision and Caliber Auto Glass, has named Jason Monaco chief financial officer effective May 4, the company said. Monaco succeeds Tom Springfield, who has served as interim CFO since late February. The appointment fills a permanent finance role that has been vacant since former CFO Judd Nystrom resigned for personal […]
I-CAR Plans Mixed Reality Repair Planning Series for Estimators
The Inter-Industry Conference on Auto Collision Repair (I-CAR) will launch a Mixed Reality Repair Planning Training Series for estimators and repair planners, with enrollment opening in early 2027 and completion required for Gold Class and Platinum recognition renewals beginning July 2027. The new series, designed for professionals pursuing ProLevel 2 recognition in the Estimator/Repair Planner […]
AASP/NJ Sets Sept. 15 for 19th Annual Lou Scoras Memorial Golf Outing
The Alliance of Automotive Service Providers of New Jersey (AASP/NJ) will hold its 19th annual Lou Scoras Memorial Golf Outing on Sept. 15 at Knob Hill Golf Club in Manalapan, N.J. A portion of proceeds from the outing supports a collision industry scholarship fund. The event honors the late Lou Scoras, a former shop owner […]
Collision Coverage Claims Were Down Over 11% in Fourth Quarter of 2025 Compared to the Previous Year
While the rate of decline ticked up slightly from the third quarter, it remained better than the first and second quarter results. Quarterly collision claim counts have been down versus the previous year for eleven consecutive quarters. The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that the […]
LKQ Reports Q1 Revenue of $3.5 Billion as North America Outperforms Repairable Claims Decline
Used car price gains, near-record alternative parts utilization and easing insurance premiums signal recovery. LKQ Corporation (NASDAQ: LKQ) reported first-quarter revenue of $3.47 billion, up 4.3% from the year-ago quarter, as foreign currency tailwinds and growth in its Specialty segment offset organic declines in North America and Europe. Total parts and services revenue increased 3.6%, […]
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