The Sherwin-Williams Company (NYSE: SHW) announced consolidated net sales increased 4.1% for 2023 to a record $23.05 billion from $22.15 billion in 2022. Adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) increased 17.5% in the year to $4.24 billion or 18.4% of net sales. “Sherwin-Williams delivered solid fourth quarter results, with positive sales […]
ASA, OEMs, and SCRS Offer to Serve as Resource to Congress, Constituents on Locating Vehicle Diagnostic and Repair Data
The Automotive Service Association (ASA), the Alliance for Automotive Innovation (Alliance), and the Society of Collision Repair Specialists (SCRS) sent a joint letter to Congress yesterday offering to assist constituents who are encountering difficulties locating vehicle diagnostic and repair data. “We recognize that technological innovation across the auto industry can sometimes be a source of […]
Stellantis Acquires Artificial Intelligence Technologies to Advance Vehicle Features
New technology can be used to enhance predictive maintenance and diagnostics to proactively identify and schedule maintenance needs and provide alerts. Stellantis N.V. announced the acquisition of the artificial intelligence framework, machine learning models and intellectual property rights and patents of CloudMade, a developer of smart and innovative big data-driven automotive solutions. The acquisition – […]
Progressive Personal Auto Policies in Force Up Over 9% in December Compared to 2022
Total personal auto policies in force were also up month-over-month. The Progressive Corporation (NYSE:PGR) reported its total personal auto insurance policies in force were 19,525,900 in December, up 84,000 or 0.4% from 19,441,900 in November. December’s policies in force represent an increase of over 1.6 million or 9.1% from 17,897,300 in December 2022. While up […]
Hawaii Bill Would Lower Thresholds for Mandatory Overtime Pay
According to the Automotive Service Association (ASA), a bill introduced in Hawaii’s legislature on January 19 would lower the working hours thresholds for an employee to be legally entitled to overtime compensation. If passed, Senate Bill (SB) 2610 – which was introduced by State Senator Henry Aquino (D) – would mandate: At least 1.5x pay […]
IBIS USA Announces Dave Smith Stage Partnership for March 19-21 Event in California
IBIS Worldwide announced Dave Smith is joining the on-stage delivery team for IBIS USA 2024, one of its flagship events in the collision repair industry. Smith brings a wealth of expertise to lead discussions at this highly anticipated event. Dave Smith graduated from Cal State Long Beach with a bachelor’s degree in finance in 1989 […]
Brian Blouin Appointed to Executive Committee of MEMA Aftermarket Suppliers Supply Chain & Operations Forum
The MEMA Aftermarket Suppliers Supply Chain & Operations Forum announced the appointment of Brian Blouin, Group Leader – Supply Chain Management at Schaeffler Group USA, Inc., as its newest Executive Committee member. In his role, Blouin will serve as a representative of the general membership of the council, actively contributing to the development of solutions […]
Consumer Sentiment Jumps in Early January
University of Michigan index preliminary January results up over 13% versus December and more than 20% versus last year. Consumer sentiment soared 13% in January to reach its highest level since July 2021, showing that the sharp increase in December was no fluke. According to University of Michigan Surveys of Consumers Director Joanne Hsu, consumer […]
Fix Auto UK Adds Collision Repair Facility to Network in South Wales
Fix Auto UK announced the expansion of its network in South Wales with the appointment of Select Accident Repair Centre which will now operate as Fix Auto Neath. Founded by Kevin Joseph and Kevin Davies, the duo signed papers to join the network shortly before Christmas following a period of major investment which also involved […]
Length of Rental Down 1 Day in Fourth Quarter of 2023 Compared to Previous Year
Overall length of rental (LOR) for collision-related rentals in Q4 2023 was 17.7 days, a one-day decline from Q4 2022 according to the latest data from Enterprise Rent-A-Car. In Q4 2022, LOR (18.7 days) was up one-half day from Q4 2021, so the trend of declining year-over-year LOR we’ve been tracking since Q2 2023 continues. […]
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