Axalta Coating Systems (NYSE: AXTA) has been named exclusive supplier for BMW Group’s private paint label, ColorSystem, in currently 15 European countries plus South Africa. The agreement includes BMW Group’s network of 730 dealerships and collision repair partners. The agreement runs through December 2028 and adds to existing supplier agreements with BMW Group. “The BMW […]
CCC Introduces Integrated Website Builder for Collision Repair Facilities
CCC Intelligent Solutions Inc. (NASDAQ:CCCS) today announced the launch of CCC Amplify, an easy-to-use digital solution that helps collision repair facility operators build and launch customized websites in minutes. Available through the CCC ONE platform, CCC Amplify simplifies the process of creating and maintaining a website by integrating CCC ONE shop information. The solution is […]
Consumer Sentiment Declined in October
The final October results indicate consumers continued to have inflation frustration. Consumer sentiment fell back about 6% this October after inching down slightly for two consecutive months, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index fell to 63.8 in the October 2023 survey, down from 67.9 in September and above […]
Caliber Collision Acquires Two Repair Centers in Maryland
FOCUS Investment Banking, the middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced that Auto Body Innovations (ABI), with locations in Upper Marlboro and Owings, Md., has been acquired by Caliber Collision. FOCUS represented Auto Body Innovations in the transaction. ABI’s owners, brothers Keith and Kevin Dick, started out as […]
New-Vehicle Sales Projected to Increase Over 6.6% in October
Record consumer spending is supporting vehicle sales. Total new-vehicle sales for October 2023, including retail and non-retail transactions, are projected to reach 1,201,800 units, a 6.6% increase from October 2022, according to a joint forecast from J.D. Power and GlobalData. October 2023 has 25 selling days, one fewer than October 2022. Comparing the same sales […]
DCR Systems Announces CollisionClarity Documentation Software
DCR Systems announced the launch of CollisionClarity, cloud-based software for the collision industry that can be used with any management or estimating software. CollisionClarity displays all photos and documents related to a vehicle’s damage and required repairs in sequence with the line operation of the estimating software, so it’s easy to understand and trust. The […]
asTech Announces Support for Tesla Vehicles
asTech, a Repairify company, announced an expansion of its remote OEM solutions to now include remote OEM scanning support for Tesla vehicles. asTech diagnostic devices are now able to complete authentic Remote OEM Scans for virtually every Tesla vehicle with over 99% coverage. “The industry is changing rapidly, and a major part of that is […]
Auto Insurers Improve Customer Satisfaction with Claims Process
Insurers managed customer expectations as repair cycle times double in two years according to J.D. Power. Amica Mutual ranks highest for second consecutive year. Long repair shop backlogs and lingering parts shortages have caused the average auto insurance repair cycle time to reach 23.1 days in 2023, up 6.2 days from 2022 and more than […]
LKQ Reports Revenue of $3.6 Billion for Third Quarter 2023
LKQ Corporation (NASDAQ:LKQ) today reported revenue for the third quarter of 2023 was $3.6 billion, an increase of 15.0% compared to $3.1 billion for the third quarter of 2022. Parts and services organic revenue increased 3.0% during the quarter and 4.3% on a per day basis. Foreign exchange rates increased revenue by 3.6% and the […]
UAW Reaches Tentative Agreement with Ford Motor Company
The UAW has announced a tentative agreement with Ford Motor Company after 41 days on strike. The strike continues at Stellantis and GM. In a video address by UAW President Shawn Fain and UAW Vice President Chuck Browning, the union leaders gave some details of the agreement, while outlining next steps in the ratification process. […]
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