In guest article, David Roberts, Founder and Managing Director, Focus Advisors Automotive M&A, details recent activity, predicts more private equity firms will enter industry. In the last five months, more than $9 billion in capital has been invested into the collision repair industry by private equity firms. The biggest chunk of this new capital was […]
AkzoNobel Italy Site Achieves Highest Automotive Industry Quality Certification
AkzoNobel announced it has been rewarded with automotive industry recognition for the company’s powder coatings site in Como, Italy. The site – which recently completed a major capacity expansion – has received International Automotive Task Force (IATF) 16949 certification. Awarded following an extensive third-party audit, it recognizes the highest levels of product quality and customer […]
Copart Reports Fiscal Third Quarter Fiscal Revenue of $1.13 Billion
Copart, Inc. (NASDAQ: CPRT) reported financial results for its fiscal third quarter ended April 30, 2024. Revenue was $1.13 billion, up $105.4 million or 10.3% from the same period last year. Gross profit and net income attributable to Copart, Inc. were $525.5 million, and $382.3 million, respectively. These represent an increase in gross profit of […]
ASE Spring Testing Underway
Registration ends June 30. The National Institute for Automotive Service Excellence (ASE) reminds service professionals that spring testing is underway. Those who register by June 30 will have 90 days to schedule an appointment to take their selected ASE tests. ASE offers three test-taking options. In-person testing is available for all tests and is held […]
China Motor Insurance Industry Projected to Surpass $158 Billion by 2028
The Chinese motor insurance industry is set to grow at a compound annual growth rate (CAGR) of 5.4% from CNY912.2 billion ($127.4 billion) in 2024 to CNY1,125.7 billion ($158.9 billion) in 2028, in terms of gross written premiums (GWP), forecasts GlobalData, a leading data and analytics company. GlobalData’s Insurance Database reveals that the Chinese motor […]
Purchasers Considering EV for Next Vehicle Down Year-Over-Year for First Time in U.S.
J.D. Power says purchase consideration ebbs as charging concerns grow. Consumer demand for electric vehicles (EVs) has cooled as the industry grapples with persistent growing pains, according to the J.D. Power 2024 U.S. Electric Vehicle Consideration (EVC) Study, released May 16. For the first time since the study’s inception in 2021, new-vehicle buyer consideration has […]
BASF Supporting WorldSkills Finals Car Painting Competition
From September 10–15, over 1,500 participants from more than 65 countries will compete in 62 skill competitions at WorldSkills Lyon 2024. In 2022, BASF signed a multi-year global industry partnership as the exclusive sponsor of the Car Painting category of WorldSkills International and will be the global silver partner of the 47th WorldSkills Competition in […]
U.S. Consumers Continue to Switch Auto Insurance at Higher Rates
Leading carriers to continue focus on renewal and retention. According to the LexisNexis Insurance Demand Meter, high demand for new policies in the first quarter showed consumers are still not resigned to higher rates as insurers continue to adjust strategies to retain customers for long-term growth. Key findings of the most recent report include: S. […]
ProColor Collision Adds Repair Facility to Network in Ontario, Canada
ProColor Collision announces the grand opening of its newest location, ProColor Etobicoke South in the Toronto, Ontario market in Canada. Owner Tony Le is a seasoned automotive enthusiast, traces his journey back to his high school days. “When I bought my first car, taking it to a mechanic when it needed repairs was not feasible […]
Collision Engineering Program Expands to North Carolina
Enterprise Mobility, through the Enterprise Mobility Foundation, today announced Sandhills Community College in Pinehurst, N.C., will offer the innovative Collision Engineering program as part of its existing Collision Repair and Refinishing Technology program. Partnering with schools across the country, the Collision Engineering program aims to help fill the more than 110,000 collision technician job openings […]
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