Toyota announced an additional $90 million investment for two of its U.S. manufacturing facilities. Toyota West Virginia (TMMWV) will receive $73 million. This investment comes on the heels of the $240 million investment announced last November and will increase hybrid transaxle production capacity to 600,000 units per year. With this funding, TMMWV will also begin […]
Consumer Sentiment Down to 2011 Levels
Preliminary results for February show sentiment down over 8% from January and nearly 20% from last year. Consumer sentiment continued its downward descent in early February, reaching its worst level in a decade, falling a stunning 8.2% from last month and 19.7% from last February according to preliminary results released this morning by the University […]
Service King Reported in Talks to Restructure Debt
The Wall Street Journal reported that Service King Collision Repair Centers, the consolidator with over 330 collision repair centers in the U.S. in more than 20 states, has begun talks with creditors to restructure its debt. According to the article, Service King is in talks with lenders seeking to restructure a $775 million term loan […]
Richard Goode Named Automotive Refinish Director, UK & Ireland at PPG
PPG Refinish UK & Ireland announced the retirement of Mark Clarke, Automotive Refinish Director, UK & Ireland and the appointment of Richard Goode to the position. After 45 years in the Vehicle Aftermarket, Clarke informed PPG of his intention to retire. Clarke joined PPG in 2006 and has since held a series of successful business […]
Javier Vargas Named Director of Operations for California, Surrounding Areas at ProColor Collision
ProColor Collision announced Javier Vargas as its new director of operations for California and surrounding states as of January 24. As the director of operations, Vargas will be responsible for providing direction and support for all operational components including financial profitability, growth and compliance for ProColor Collision franchisees. In addition, he will be accountable for […]
USDOT and USDOE Announce $5 Billion over Five Years for National EV Charging Network
The U.S. Departments of Transportation and Energy announced nearly $5 billion that will be made available under the new National Electric Vehicle Infrastructure (NEVI) Formula Program established by the Bipartisan Infrastructure Law, to build out a national electric vehicle charging network, an important step towards making electric vehicle (EV) charging accessible to all Americans. The […]
Small Business Owner Optimism Down in January
Inflation reported as biggest problem, highest since 1981. The National Federation of Independent Business (NFIB) Small Business Optimism Index decreased slightly in January to 97.1, down 1.8 points from December. Inflation remains a problem for small businesses as 22% of owners reported that inflation was their single most important business problem, unchanged from December when […]
Fix Auto UK Adds Collision Repair Center to Network in Midlands
Fix Auto UK announced the expansion of its collision repair network in the Midlands with the appointment of Four Ways Accident Repair Centre in Atherstone. The repairer, who will operate as Fix Auto Atherstone, strategically fills a void in the region for the network between Fix Auto UK repair centers in Birmingham, Lichfield, Coalville, Coventry […]
Hearing Scheduled on Illinois Aftermarket Collision Repair Parts Bill February 15
Legislation introduced in January in the Illinois House of Representatives that seeks to amend the state’s insurance code to regulate aftermarket collision repair parts and glass is scheduled to be included an Illinois House Insurance Committee hearing on February 15. Illinois House Bill 4719 (HB 4719), introduced on January 21 by Illinois State Rep. Elizabeth […]
American Family Insurance Announce Raise in Minimum Pay to $23 per Hour
The increase in minimum wage, the second in two years, will result in raises for more than 2,000 employees at American Family group companies. American Family Insurance group announced it is raising its minimum hourly wage to $23 per hour – its second increase in two years – to draw and retain talent to serve […]
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