In another sign that the projections on when autonomous vehicle technology would hit the market were overly optimistic, Ford and Volkswagen announced October 26 that their Argo AI autonomous vehicle joint venture will be wound down to allow the companies to focus on other advanced driver assistance system (ADAS) technologies. According to Ford, in 2017 […]
J.D. Power Reports Auto Claims Process Satisfaction Declines as Repair Times Increase
Amica Mutual Ranks Highest in Auto Insurance Claims Satisfaction. The volume of vehicle collisions is returning to pre-pandemic levels and, when combined with all-time-high repair costs, historic backlogs in repair shops and limited replacement parts availability, it is costlier and more time-consuming than ever to get customers’ vehicles back on the road after a collision. […]
LKQ Corporation Reports Revenue of $3.1 Billion in Third Quarter
LKQ Corporation (NASDAQ:LKQ) today reported Revenue for the third quarter of 2022 was $3.1 billion, a decrease of 5.9% as compared to $3.3 billion in the third quarter of 2021. On a constant currency basis1, third quarter revenue grew by 1.0% to $3.3 billion. Parts and services organic revenue increased 4.8% on a reported basis […]
U.S. Real Gross Domestic Product Up in Third Quarter
Real gross domestic product (GDP) in the U.S., that is adjusted for inflation, increased at an annual rate of 2.6 percent in the third quarter of 2022, according to the “advance” estimate released by the Bureau of Economic Analysis. The third quarter results are a turnaround from the second quarter when real GDP had decreased […]
Mid-Atlantic Auto Care Alliance Hosts All-New ADAS Experience at November 11-12 Event in Pennsylvania
Super Saturday, a 2-day event hosted by the Mid-Atlantic Auto Care Alliance, formerly ASA-Pennsylvania, has added an all-new ADAS Experience to their 2022 lineup. Hosted at the Radisson Hotel in Trevose, Pa., this new interactive feature will give attendees the opportunity to witness and participate in live walk-throughs from five different manufacturers on the same […]
Fix Auto USA Announces Recipients of Arrow Award, Community Award and Top LOR Award
Fix Auto USA announced the top performers in the Fix Auto family during the final day of the Fix Auto USA conference, naming three store owners and their teams with the honors. Vatche Derderian, a second-generation owner who has multiple Fix Auto USA locations in the Los Angeles-area, received the Arrow Award for his long-term […]
Driven Brands Revenue Increased 39% in Third Quarter
Reports 9% net store growth and same-store sales up nearly 12%. Driven Brands Holdings Inc. (NASDAQ:DRVN) today reported financial results for the third quarter ended September 24. For the third quarter, revenue increased 39% versus the prior year to $516.6 million. System-wide sales increased 22% versus the prior year to $1.5 billion, with 9% net […]
IAA Expands in Arizona
IAA, Inc. (NYSE: IAA) announced that construction has been completed on a significant expansion to the IAA Phoenix branch. This continued investment has increased IAA’s footprint in the Phoenix, Ariz. area by nearly 30%, helping to support growing customer demand. “The added capacity from this expansion will significantly increase IAA’s presence in the Phoenix market […]
Opus IVS Announces Grand Opening of New Global Headquarters
Opus IVS, the global diagnostics, ADAS calibration, programming, and remote services provider, announced today the relocation and expansion of its global headquarters to Dexter, Mich. “Our recent significant growth and expansion of our technology team required state-of-the-art facilities and simply more space. We are excited to build on our foundation in the Metro Detroit area […]
ASE Encourages School Instructors to Offer ASE Entry-Level Tests in the Fall
As the new school year commences, the ASE Education Foundation is encouraging instructors to offer their students the ASE Entry-Level Certification tests to assess their knowledge now. Geared toward students completing a program of technical study, ASE Entry-Level Certification tests are available for the automobile, collision repair/refinish and medium/heavy truck segments. The tests are designed […]
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