The Collision Industry Foundation (CIF) announced that CCC Information Services Inc. (CCC) has donated $100,000 to the CIF COVID-19 fund to support collision repair professionals impacted by the COVID-19 pandemic, matching the initial $100,000 funded by CIF. CIF is the charitable arm of the collision repair industry and is dedicated to raising, managing and donating […]
Outlook for National Economy in Wake of COVID-19 Response Weighs on March Consumer Sentiment
Consumer sentiment tumbled 11.9 index points in March, the fourth-largest one-month decline in nearly a half century, according to the University of Michigan Surveys of Consumers. The University of Michigan Consumer Sentiment Index fell to 89.1 in the March 2020 survey, down from 101.0 in February and 98.4 in last March’s survey. The Expectations Index […]
New Vehicle Sales Projected Down Over 35% in March Compared to 2018
With many dealership sales departments closed due to essential businesses restrictions, Edmunds analysts forecast a SAAR of 11.9 million in March. Associations push to reopen sales as essential services. Edmunds projects that March will be a down month for the auto industry due to the coronavirus (COVID-19) pandemic, forecasting that 1,044,805 new cars and trucks […]
Boyd Group Reports All Locations Open, Demand Down 40-50% as Result of Pandemic Response
The Boyd Group Services Inc. (TSE: BYD) provided an update on the impact of the COVID-19 pandemic on its business. According to today’s update, all of its locations continue to be open, though demand is down from normal levels. According to the company statement, “In order to continue to offer the quality service customers, insurance […]
NADA Launches Online Training and Regulation Resource To Help Dealers Navigate COVID-19 Crisis.
The National Automobile Dealers Association (NADA) announced the launch of a new initiative, the Dealership Lifeline Series, to help local dealerships navigate business and regulations in the coronavirus environment. The Dealership Lifeline Series is a collection of webinars, white papers, reports, best practices, and blog posts – all in NADA’s Coronavirus Hub, to provide dealers, […]
Hertz Provides Free Rentals to New York City Healthcare Workers
Hertz (NYSE:HTZ) announced March 25 that it will start providing free vehicle rentals to New York City healthcare workers through April 30. Healthcare workers can reserve a vehicle at 19 New York City-area Hertz locations so they can continue providing critical care to the community during the coronavirus pandemic. “With New York City having the […]
FCA Says Plants Will Remain Closed Until April 14, Parts Distribution Centers Remain Open with Volunteer Staff
Fiat Chrysler Automobiles (FCA) announced that its plants across the U.S. and Canada, as well as headquarters operations and construction projects, are intended to remain closed until April 14, dependent upon the various states’ stay-in-place orders and the readiness of each facility to return to production. Mopar Parts Distribution Centers, which have been deemed essential […]
Collision Industry Foundation Announces $100,000 Fund for COVID-19 Victims
The Collision Industry Foundation (CIF) announced the formation of a fund to assist those within the industry impacted by the new coronavirus, COVID-19. The CIF has committed to initially fund $100,000 in assistance to help individual collision repair professionals and their immediate families dealing with the effects of the virus. “Our hearts go out to […]
U.S. Senate Passes $2 Trillion Coronavirus Stimulus Package
U.S. House of Representatives expected to consider proposal Friday that provides support for individuals and small businesses. The U.S. Senate has passed the third Coronavirus stimulus package, H.R. 748, the Coronavirus Aid, Relief & Economic Security Act (CARES Act). According to the Automotive Service Association (ASA), after extensive negotiations with the Administration, the package includes […]
Ford, Honda Announce Updated Plans to Restart U.S. Production in Early April
Both Ford and American Honda announced updated plans to restart production in the U.S. Last week, several vehicle manufacturers announced temporary production plant closures. GM, Ford and Fiat Chrysler parts distribution centers have been running with volunteer staff since last Friday. According to Ford, it is aiming to restart production at select plants in North […]
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