Loss ratio was 81% in 2023, down 12.1 percentage points from the previous year when the company reported a $1.88 billion pre-tax underwriting loss. Berkshire Hathaway reported its 2023 earnings on February 24, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. GEICO’s pre-tax underwriting earnings in […]
ProColor Collision Adds New Location in Fontana, California
ProColor Collision announced the opening of ProColor Collision Fontana, located at 17855 Foothill Blvd in Fontana, Calif. After opening ProColor Collision Rialto in June 2022, shop co-owner Eddy Samawi searched for opportunities to open a second location and serve additional Inland Empire communities. The new Fontana facility was formerly a smog inspection station that leased […]
Chiltern Capital Invests in UK’s Rapid Repair Network
Chiltern Capital LLP announced it has completed an investment in Rapid Repair Network, a leading provider of same-day accident repairs in the United Kingdom. Rapid Repair Network has grown strongly since its foundation in 2018, developing a strong market position that underpins its ambitious growth plans. Rapid Repair Network has successfully grown its customer base […]
White Paper Says Collision Repair Technician Satisfaction Higher than Dealer Service Technicians
The Inter-Industry Conference on Auto Collision Repair (I-CAR), in collaboration with the Society of Collision Repair Specialists (SCRS), engaged with Ducker Carlisle, a global consulting firm, released a white paper detailing the results of their technician satisfaction survey researching opinions on compensation, culture and career opportunities. This survey, which was conducted in 2023 and involved […]
Honda Introduces First Production Plug-in Hydrogen Fuel Cell Electric Vehicle in the U.S.
Honda today revealed America’s first production plug-in hydrogen fuel cell electric vehicle, the 2025 Honda CR-V e:FCEV. A compact CUV that received a 270-mile EPA driving range rating, CR-V e:FCEV combines an all-new U.S.-made fuel cell system along with plug-in charging capability designed to provide up to 29 miles of EV driving around town with […]
New-Vehicle Sales Projected to Increase in February
Cox Automotive forecasts sales up month-over-month and year-over-year. February new-vehicle sales, when announced next week, are expected to show gains over last year and improvement from January, which came in slower than expected. Cox Automotive projects February sales volume is expected to reach 1.22 million units, an increase of 6.3% over February 2023, when the […]
Pennsylvania College of Technology Receives Nearly $1.5 Million NSF Grant to Aid Transportation and Collision Repair Workforce
Pennsylvania College of Technology announced it is the recipient of a nearly $1.5 million federal grant to support students majoring in a transportation-related field. The National Science Foundation awarded $1,498,465 (grant No. 2221107) as part of its S-STEM program, which funds scholarships for academically talented low-income students. Dubbed Transportation Scholars, the program will provide up […]
NSC Estimates Traffic Crashes Took More Than 44,000 Lives in 2023
A preliminary analysis from the National Safety Council shows motor vehicle fatalities in the United States remain at a high level, as an estimated 44,450 people died in traffic crashes in 2023. While it marks a 4% decline from 2022, compared to pre-pandemic 2019, it’s a 13.6% uptick, further demonstrating the seriousness of this public […]
GM Launches Online Training for EV First Responders
General Motors announced the launch of free online training content at GMEVfirstrespondertraining.com. While specifically geared towards first responders, the information on the website is also valuable to the towing and collision repair industries. According to a bulletin released by GM the site includes several videos and other information about additional resources available to build continued awareness […]
Driven Brands Reports Revenue Up 13% to $2.3 Billion for 2023
Revenue increase result of 7% same-store sales growth and 4% net store growth. Paint, Collision & Glass segment same store sales up 6.4%. Driven Brands Holdings Inc. (NASDAQ: DRVN) announced revenue the fiscal year ended December 30, 2023 of $2.3 billion, up 13% versus the prior year. System-wide sales were $6.3 billion, up 12% versus […]
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