Net income shows small decline, but industry has record Surplus of over $70 billion. The private U.S. property/casualty insurance industry saw its net underwriting gains increase to $5.4 billion in the first nine months of 2019 from $4.7 billion a year earlier, bolstered by growth in premiums and a drop in catastrophe losses, and its […]
New Mountain Capital Invests in Classic Collision
Classic Collision, Inc., the Atlanta, Ga.-based multi-store operator (MSO) of 34 collision repair facilities in the Southeastern U.S., announced that it has partnered with New York-based New Mountain Capital, a growth-oriented investment firm with over $20 billion in assets under management. Terms of the transaction were not disclosed. Founded in 1983, Classic is currently the […]
Auto Body Parts Association to Appeal Ford Design Patent Lawsuit to U.S. Supreme Court
The Automotive Body Parts Association (ABPA) said it is continuing its efforts to challenge the validity and enforceability of design patents directed toward automotive body repair parts. In July 2019, the United States Court of Appeals for the Federal Circuit published its public opinion rejecting arguments by the ABPA that design patents covering a hood and […]
PPG Reports Fourth Quarter Sales Up Versus 2018
Reports above market refinish performance in U.S. and Canada. PPG (NYSE:PPG) reported fourth quarter 2019 net sales of nearly $3.7 billion, up approximately 1% versus the prior year. Net sales in constant currencies grew about 2% year-over-year, aided by higher selling prices of almost 2%. Sales volumes declined nearly 3% versus the prior year. Unfavorable […]
Business Groups Applaud Senate Passage of USMCA
Automotive and general business groups are applauding the passage of the the U.S.-Mexico-Canada Agreement (USMCA) that was negotiated in 2018 to replace the existing North American Free Trade Agreement (NAFTA). In a rare display of bi-partisanship in the face of the impeachment trial of President Trump, the Senate voted 89-10 yesterday in support of the […]
U.S. Auto Body Repair Prices Up Over 4.3% in December Compared to 2018
For the 17th straight month, the increase in body repair prices was above the rate of inflation. Auto insurance prices increased below inflation for the past ten months. The most recent government figures on inflation through December 2019 indicate the rate of growth of auto body repair prices continues above the rate of inflation, marking […]
NABC Day Features Recycled Rides Presentation
The National Auto Body Council (NABC) presented three refurbished vehicles to deserving Palm Springs residents during its golf tournament held as part of its second annual NABC Day festivities on Tuesday at the Tahquitz Creek Golf Club in Palm Springs, Calif. Recipients in the NABC Recycled Rides included: Maryjane Cano-Cruz, an 18-year-old student at California […]
Porsche Cars Canada Selects DB Schenker to Operate New Parts Distribution Center
Porsche Cars Canada, Ltd., has selected DB Schenker Canada to operate its new parts distribution center in Mississauga, Ontario, Canada. Expected to ship about 282,000 orders during its first year in operation, the new facility joins two other DB Schenker-Porsche parts distribution centers that are already operating in China and Korea “The faster we can […]
NASTF Announces 2020 Board Election Results
The National Automotive Service Task Force (NASTF) announced the approval of the 2020 NASTF Board of Directors and officer election slate. The approved members for 2020 are: For DIRECTOR Terms expiring 12/31/2022 Locksmith: Claude Hensley – Tampa Keys Parts: Chris Gardner – Automotive Aftermarket Supplier Association At-Large Category: Mark Saxonberg At-Large Category: Bob Augustine – […]
U.S. Department of Transportation Announces New Road Safety Initiatives
U.S. Department of Transportation (USDOT) Secretary Elaine L. Chao today spoke at the 99th Annual Meeting of the Transportation Research Board (TRB) where she announced new transportation initiatives aimed at harnessing new and existing technologies to improve safety for the traveling public and first responders. Among the initiatives was an endorsement of a call by […]