The final October results indicate consumers continued to have inflation frustration. Consumer sentiment fell back about 6% this October after inching down slightly for two consecutive months, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index fell to 63.8 in the October 2023 survey, down from 67.9 in September and above […]
Caliber Collision Acquires Two Repair Centers in Maryland
FOCUS Investment Banking, the middle market investment banking firm providing merger, acquisition, divestiture, and corporate finance services, announced that Auto Body Innovations (ABI), with locations in Upper Marlboro and Owings, Md., has been acquired by Caliber Collision. FOCUS represented Auto Body Innovations in the transaction. ABI’s owners, brothers Keith and Kevin Dick, started out as […]
DCR Systems Announces CollisionClarity Documentation Software
DCR Systems announced the launch of CollisionClarity, cloud-based software for the collision industry that can be used with any management or estimating software. CollisionClarity displays all photos and documents related to a vehicle’s damage and required repairs in sequence with the line operation of the estimating software, so it’s easy to understand and trust. The […]
asTech Announces Support for Tesla Vehicles
asTech, a Repairify company, announced an expansion of its remote OEM solutions to now include remote OEM scanning support for Tesla vehicles. asTech diagnostic devices are now able to complete authentic Remote OEM Scans for virtually every Tesla vehicle with over 99% coverage. “The industry is changing rapidly, and a major part of that is […]
Auto Insurers Improve Customer Satisfaction with Claims Process
Insurers managed customer expectations as repair cycle times double in two years according to J.D. Power. Amica Mutual ranks highest for second consecutive year. Long repair shop backlogs and lingering parts shortages have caused the average auto insurance repair cycle time to reach 23.1 days in 2023, up 6.2 days from 2022 and more than […]
LKQ Reports Revenue of $3.6 Billion for Third Quarter 2023
LKQ Corporation (NASDAQ:LKQ) today reported revenue for the third quarter of 2023 was $3.6 billion, an increase of 15.0% compared to $3.1 billion for the third quarter of 2022. Parts and services organic revenue increased 3.0% during the quarter and 4.3% on a per day basis. Foreign exchange rates increased revenue by 3.6% and the […]
UAW Reaches Tentative Agreement with Ford Motor Company
The UAW has announced a tentative agreement with Ford Motor Company after 41 days on strike. The strike continues at Stellantis and GM. In a video address by UAW President Shawn Fain and UAW Vice President Chuck Browning, the union leaders gave some details of the agreement, while outlining next steps in the ratification process. […]
Phillip Gallimore Named Director of Franchising at ProColor Collision U.S.
ProColor Collision announced the addition of Phillip Gallimore as director of Franchising. Reporting to Scott Bridges, senior vice president USA Fix Network, Gallimore oversees the ProColor Collision Business Development and Franchise Support teams. Together, these teams create opportunities for prospective ProColor Collision franchisees to join the network and receive ongoing training, branding and operational excellence […]
Troy Mason Named Senior Vice President at Caliber Auto Glass
Former TechnaGlass executive to lead auto glass operations and expansion. The Caliber family of brands, including Caliber Collision, Caliber Auto Glass and Caliber Auto Care, welcomed Troy Mason as the new SVP for Caliber Auto Glass. In this role, Mason will oversee all brand operations, including business expansion, go-to-market strategies and customer experience. Caliber Auto […]
LKQ Completes Divestiture of GSF Car Parts to Epiris
LKQ Corporation (NASDAQ:LKQ) today announced that it has sold GSF Car Parts to Epiris Fund III, a private equity fund based in the United Kingdom. The divestiture fulfills LKQ’s undertaking to the UK’s Competition and Markets Authority to sell the GSF business in connection with LKQ’s acquisition of Uni-Select Inc. that was completed August 1. […]
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