Cites increasing parts prices, cycle time, and technician shortage driving higher repair costs. “Doubles down” on its relationships with parts suppliers and direct repair program to help control costs. The Allstate Corporation (NYSE: ALL) reported total revenues of $12.2 billion in the second quarter of 2022 decreased 3.4% compared to the prior year quarter as […]
Registration Open for October 31 MSO Symposium
The Automotive Service Association (ASA) and the MSO Symposium advisory board announced the 11th annual MSO Symposium will be held October 31st, the Monday before SEMA/AAPEX, in Las Vegas, Nev. Created by and for multiple collision repair shop owners, the event will begin at 10 a.m. (PDT) with a light breakfast, networking, and vendor displays. […]
CCC Intelligent Solutions Reports Revenue of $192.8 Million in Second Quarter, Up 16% from Last Year
CCC Intelligent Solutions Holdings Inc. (NYSE: CCCS), announced total revenue was $192.8 million for the second quarter of 2022 ended June 30, an increase of 16% from $166.8 million for the second quarter of 2021. GAAP gross profit was $139.9 million, representing a gross profit margin of 73%, for the second quarter of 2022, compared […]
Uni-Select Reports Sales Up 6.7% in Second Quarter
FinishMaster US second quarter sales were $186.5 million, up 8.9%. Uni-Select Inc. (TSE: UNS) today reported consolidated sales of $444.3 million, up $27.9 million or 6.7%, for the second quarter ended June 30. Sales were up 10.8% excluding the impact of unfavorable fluctuation of the British pound and the Canadian dollar against the US dollar […]
Collision Claims Were Up Nearly 17% in First Quarter Compared to Last Year
First quarter claims remain over 4% below 2019 level. Losses up nearly 35% compared to 2019. The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that claims and losses in the first quarter of 2022 continued to rebound with claims nearing pre-pandemic levels and losses far above historic […]
CARSTAR Adds Collision Repair Center to Network in Fairport Harbor, Ohio
CARSTAR announced the opening of CARSTAR Jeff’s Garage, a 10,500 square foot facility home to a team of seven employees at 1199 East Street in Fairport Harbor, Ohio. Jeff McKinney, owner of CARSTAR Jeff’s Garage, is a second-generation collision repair industry leader. The location itself was owned by Jeff’s father and was opened over 50 […]
CHIPS Act Signed Into Law
On August 2, President Biden signed the CHIPS and Science Act (CHIPS Act) into law, allocating $280 billion in funding and tax incentives to boost domestic production and innovation in the semiconductor industry and broader science and technology-related industries. The bill, which passed the Senate by a vote of 64-33, aims to make the United […]
CREF Raises $100,000 for Collision Repair Students and Schools at 20th Annual Golf Fundraiser
The Collision Repair Education Foundation’s (CREF) 20th Annual Golf Fundraiser, co-hosted by PPG Automotive Finishes, on July 19 at the Edgewood Country Club in Pittsburgh, PA, raised over $100,000 to support collision repair programs, schools and students around the country. “PPG is honored to continue partnering with the Foundation in this premier event,” said Tom […]
One Month Left to Enter Copart Rebuild Challenge
Potential participants in the 2022 Copart Rebuild Challenge only have until September 1 to submit before and after images of their project cars for a chance to win up to $7,500, Copart announced. “The Rebuild Challenge has become quite a tradition for Copart and our Members over the years,” said Scott Booker, Chief Marketing & […]
Collision Industry Foundation Presents Injured Collision Repair Technician with $15,000 to Help with His Recovery
Donation during successful 11th Gala in Pittsburgh in July will help technician injured in fire last year. On July 20, at its annual fundraising gala at Howl at the Moon in Pittsburgh, Pa., Collision Industry Foundation (CIF) Trustee Jim Ocampo of Axalta Coatings System presented Bryan Miller, an Ohio-based technician and painter, a $15,000 check […]
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