Crash Champions today announced that the company has finalized the acquisition of Autobahn Collision Center, a 13,000 sq. ft. collision repair center located at 11511 Ventura Boulevard in Studio City, California. The deal closed Friday, July 28 and the location will begin operating as part of the Crash Champions network effective immediately. “The Crash Champions […]
Repairify Partners with Capricorn on ADAS Joint Venture in Australia and New Zealand
Repairify Australia Holdings Pty Ltd and Capricorn Society Limited announced today they have entered into a joint venture agreement that will deliver remote automotive repair solutions to repairers across Australia and New Zealand. Repairify and Capricorn have equal ownership of the joint venture, which will be branded as Repairify and distributed across Australia and New […]
Consumer Sentiment Improved in July
Improving personal finances and business conditions lift consumer sentiment. Consumer sentiment lifted 11% in July compared to the previous month, reaching its highest level since October 2021, a sign of greater optimism as inflation continued to ease and stock market performance strengthened. The Consumer Sentiment Index rose to 71.6 in the July 2023 survey, up […]
Lincoln Electric CEO Christopher Mapes to Retire at Year End
Steven Hedlund, the current Chief Operating Officer, to be named President and Chief Executive Officer. Lincoln Electric Holdings, Inc. (NASDAQ: LECO) announced that Christopher L. Mapes, Chairman, President and Chief Executive Officer (CEO), who has served as President and CEO since 2012, will retire as President and CEO on December 31, and will be designated […]
CSN Collision Centres Adds New Collision Repair Facility to Network in Quebec
CSN continues its expansion in Quebec by adding CSN Carrosserie Nordique, a 6,400 sq. ft. collision repair facility located in Saint-Isidore-de-Laprairie, Quebec, to its growing network of leading collision centers. Sébastien Tremblay, owner of CSN Carrosserie Nordique, says, “Having always been passionate about cars, both their mechanics and their bodywork, we found ourselves in a […]
ASA Announces New Board of Directors and Award Winners
The Automotive Service Association (ASA) announced changes to its Board of Directors following its Annual Business Meeting July 17 at the Hilton Indianapolis Hotel & Suites in Indianapolis, Ind. ASA Chairman Scott Benavidez, AMAM, from Mr. B’s Paint & Body Shop Inc., is looking forward to working with the new leadership team. “As I look […]
Gross Domestic Product Increased at Higher Rate in Second Quarter
U.S. real gross domestic product (GDP) increased at an annual rate of 2.4 percent in the second quarter of 2023 according to the advance estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP had increased 2.0 percent. The GDP result was better than analysts expected and has reduced fears that […]
New-Vehicle Sales Projected Up 21.5% in July
Will mark fourth consecutive month of double-digit percentage growth. Total new-vehicle sales for July 2023, including retail and non-retail transactions, are projected to reach 1,320,982 units, a 21.5% increase from July 2022, according to a joint forecast from J.D. Power and GlobalData. Total sales of new vehicles this month are expected to reach 1,320,982 units, […]
Main Street Tax Certainty Act Introduced in U.S. House Seeks to Preserve Pass-Through Business Deductions
U.S. Congressman Lloyd Smucker (PA-11) introduced the Main Street Tax Certainty Act, H.R. 4721, legislation which would permanently extend Section 199A of the Internal Revenue Code, which is slated to expire in 2025. Smucker’s legislation is cosponsored by 92 Members and is supported by all Republican Members of the Ways & Means Committee. Section 199A, […]
LKQ Corporation Waives UK Merger Clearance Condition for Uni-Select Acquisition
August 1 targeted completion date for acquisition. Uni-Select Inc. (TSE:UNS) announced today that LKQ Corporation (NASDAQ:LKQ) has elected to formally waive the closing condition relating to the receipt of UK merger clearance for the previously announced acquisition of Uni-Select by LKQ and its subsidiaries. LKQ also stated in its second quarter earnings announcement today that […]
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