On a year-over-year basis, the rate of increase in auto body repair prices is down from recent months and the all-time high in July but continues above the rate of inflation. The most recent government figures on inflation through April, released May 10, show the rate of growth of auto body repair prices continues to […]
LexisNexis Auto Insurance Trends Report Says Collision Severity Was Up 9% in 2022
LexisNexis Risk Solutions released its 2023 U.S Auto Insurance Trends Report, which aggregates annual market data about driving behaviors, consumer auto insurance shopping, underwriting and claims to help insurance carriers better understand the evolving trends impacting the U.S. auto insurance industry. This year’s report analyzes 2022 data and tracks macro-market conditions such as volatile shopping […]
National Auto Body Council Opens Bidding for Exclusive Ticket Package to Sold-Out NASCAR All-Star Race
The National Auto Body Council and Speedway Children’s Charities are offering race fans a chance to bid on tickets for the sold-out 2023 NASCAR All-Star Race at the Historic North Wilkesboro Speedway May 19 – 21. The event, part of NASCAR’s 75th anniversary season, will feature the All-Star Open, All-Star Race and live performances by […]
AASP-MN 28th Annual Golf Outing June 21
The Alliance of Automotive Service Providers – Minnesota (AASP-MN) announced its 28th Annual Golf Outing will be held on Wednesday, June 21 at Majestic Oaks Golf Club, in Ham Lake, Minn. Over 150 AASP-MN members, their employees, industry vendors, and insurance representatives are expected to enjoy the day of golf and socializing. Play will begin […]
Focus Advisors Reports Private Equity More Committed to Collision Repair Than Ever
According to a report released May 10 by David Roberts and Chris Lane of Focus Advisors Automotive M&A, private equity investment in the collision repair industry is more extensive than it has even been. Below is their latest report on the history, current state and future of private equity investment in collision repair consolidation: Private […]
Boyd Group Reports Sales Up Over 28% in First Quarter Compared to Last Year
Same-store sales up over 25%. Boyd Group Services Inc. (TSE:BYD) today announced sales for its first quarter ended March 31 increased by 28.4% to $714.9 million from $556.8 million in the in the first quarter of 2022. The growth included same-store sales increases of 25.2%. The first quarter of 2023 recognized the same number of […]
CARSTAR Adds Two New Collision Repair Centers in New Jersey
CARSTAR announced the opening of two CARSTAR locations, CARSTAR Proline Auto Body of Pinebrook and CARSTAR Proline Body & Chassis, both located in New Jersey. Todd Fontana, owner of CARSTAR Proline Auto Body of Pinebrook and CARSTAR Proline Body & Chassis, has decades of experience in the automotive repair industry and is the owner of […]
Universal Technical Institute Reports Revenue of $163.8 Million in Fiscal Second Quarter
Universal Technical Institute, Inc. (NYSE:UTI) reported revenue was $163.8 million with UTI increasing 5.4% versus the prior year period with Concorde Career Colleges, that it acquired last year, contributing $56.3 million for its fiscal 2023 second quarter ended March 31. Net income was $3.5 million, adjusted net income of $6.3 million, and adjusted earnings before […]
LKQ Senior Vice President of Human Resources Dombrowski Honored with Diversity Award
LKQ Corporation announced that Genevieve L. Dombrowski, Senior Vice President of Human Resources, was recently honored at MOVES Magazine Annual Diversity Awards Event. Ms. Dombrowski was recognized for her outstanding work in the Diversity, Equity, and Inclusion (DEI) space, which has positively impacted LKQ employees and the broader community. Ms. Dombrowski was joined by other […]
CCC and Verisk Form Strategic Partnership
Initial collaboration will work to prevent auto insurance fraud. CCC Intelligent Solutions Inc. (NASDAQ:CCCS) and Verisk Analytics, Inc. (NASDAQ:VRSK) announced today a strategic partnership that will leverage the two providers’ technologies to bring new innovations to P&C insurance claims. CCC provides a cloud platform for the P&C insurance economy and Verisk is a global data […]
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