Another 4% increase projected before the end of the year. The average annual cost of a car insurance policy surged $240 to $1,668 in the first six months of 2023, up from $1,428 in 2022. Prices will increase another 4% before the end of the year, according to Insurify’s latest auto insurance report. The report […]
Jeff McFadden Partners with Jeremy Lennox at Harvey’s Collision Centers
Dallas, Texas-based Harvey’s Collision Centers announced the addition of Jeff McFadden as their new partner, assuming the role of CEO and co-owner. With a career spanning 37 years in the industry, McFadden previously served as president of Service King Collision. “We are thrilled to welcome Jeff McFadden as our partner,” said Jeremy Lennox, owner of […]
Sherwin-Williams Reports Record $6.24 Billion Sales in Second Quarter
Automotive refinish sales up high-single digit percentage. The Sherwin-Williams Company (NYSE:SHW) announced consolidated net sales increased 6.3% in the second quarter to a record $6.24 billion. Net sales from stores in U.S. and Canada open more than twelve calendar months increased 9.5% in the quarter. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 31.4% […]
EV Battery Safe Handling and Storage Guidance Developed by Automakers and Suppliers
In a collaborative effort to enhance safety measures and promote responsible handling of electric vehicle (EV) batteries, at its 2023 Innovation Summit in Columbus, Ohio, the Suppliers Partnership for the Environment (SP) announced the publication of a new guidance document on Electric Vehicle (EV) Battery Safe Handling and Storage. The guide is available to download. […]
UK Competition Regulator Says Solutions Offered to Address Competition Concerns in LKQ Acquisition of Uni-Select
LKQ had previously announced its intention to divest Uni-Select’s GSF Cark Parts UK business as part of acquisition. A fast-track Phase 1 investigation by the UK Competition and Markets Authority (CMA) confirmed July 21 that LKQ Corporation’s purchase of Uni-Select Inc. could raise competition concerns in the UK. LKQ, through Euro Car Parts, and Uni-Select, […]
Toyota Motor North America Selects CCC Collision Repair Parts Promotion Solution
CCC Intelligent Solutions (NASDAQ:CCCS) announced today that Toyota Motor North America will use CCC Promote to support Toyota and Lexus dealers across the United States in their parts marketing efforts. CCC Promote enables parts suppliers to offer promotional pricing on parts to collision repairers as estimates are being written within the CCC ONE platform. CCC […]
AkzoNobel Reports Second Quarter Sales of €2.741 Billion
Sales were down 4% compared to last year, but up 3% in constant currencies. Company increases financial guidance for full year. Akzo Nobel N.V. (AKZA; AKZOY) reported revenue of €2.741 billion ($3.023 billion) in the second quarter, down 4% on unfavorable exchange rates but up 3% in constant currencies compared to the second quarter of […]
Driven Brands Wraps Inaugural Combined Canadian Conference with Celebration
Franchise Partners from CARSTAR Canada and Driven Glass Canada raised more than CA$150,000 to benefit charitable partners across Canada. Driven Brands closed out its inaugural Driven Brands Canadian joint conference in the same spirit with which it began – excitement, conviviality and a commitment to evolving and growing together. The celebration, Evolution 2023, was held […]
Parker-Hannifin Corporation Executive Chairman Thomas Williams Joins Sherwin-Williams Board
The Sherwin-Williams Company (NYSE:SHW) announced that its Board of Directors elected Thomas L. Williams to the Board, effective July 18. Williams also was appointed to the Compensation and Management Development Committee of the Board. Sherwin-Williams’ Board now consists of ten members, including nine independent directors. Williams, 64, currently serves as Executive Chairman of Parker-Hannifin Corporation […]
Kinderhook Industries Acquires Continental Auto Parts
New Jersey based aftermarket collision repair parts distributor has ten hubs in four states. Kinderhook Industries, LLC announced today the acquisition of Continental Auto Parts, L.L.C. in partnership with management. Continental Auto Parts is a is a Newark, New Jersey based distributor of aftermarket collision automotive parts to multi-shop operators (MSOs) and independent collision repair […]
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