Pent up demand buoys sales. Spending on new vehicles projected to set Q1 record. Total new-vehicle sales for March 2023, including retail and non-retail transactions, are projected to reach 1,330,700 units, a 6.2% increase from March 2022, according to a joint forecast from J.D. Power and LMC Automotive. March 2023 has the same number of […]
Fix Auto USA Adds Collision Repair Center to Network in Tujunga, California
Fix Auto USA announced the opening of Fix Auto Tujunga, the newest collision repair center to join its network. The 4,500 sq. ft. facility is located at 7001 Foothill Boulevard in Tujunga, Calif. Kevin Tarverdyan, owner of Fix Auto Tujunga, joins the auto repair industry with nearly two decades of experience in the insurance industry. […]
LKQ Europe Partners with European Council for Motor Trades and Repairs
LKQ Europe announced its partnership with the European Council for Motor Trades and Repairs (CECRA). This partnership is built on shared objectives and common interests, including access to vehicle data, electric vehicles, green deal, and the ongoing skill development of automotive technicians. By joining forces with CECRA, LKQ Europe looks forward to participating in the […]
Universal Technical Institute Announces Purchase of Primary Buildings for Orlando Campus
Universal Technical Institute (UTI), a division of Universal Technical Institute, Inc. (NYSE:UTI), announced the purchase of the three buildings it fully occupies at its Orlando, Fla. campus, which offers technician training programs in automotive, diesel, motorcycle and marine. In February 2022, UTI completed the consolidation of its UTI-Orlando and MMI-Orlando campuses into the current location, […]
Legislation to Limit Length of Automotive Design Patents Re-Introduced in U.S. House of Representatives
Bill seeks to reduce collision repair costs by limiting the length of time vehicle manufacturer exterior parts would be protected from competition. The Save Money on Auto Repair Transportation (SMART) Act was reintroduced yesterday in the U.S. House of Representatives. The bill proposes to reduce the length of time exterior collision repair parts are protected […]
Coalition of 23 State Attorneys General Urge Kia and Hyundai to Address Vehicle Theft Issues
A nationwide coalition of 23 attorneys general is calling on Kia America (Kia) and Hyundai Motor Company (Hyundai) to take swift and comprehensive action to help remedy the crisis of car thefts that has occurred due to the companies’ failure to equip vehicles with anti-theft immobilizers. Alarmingly high theft rates for Kia and Hyundai models […]
GHSA, Ford Fund Provide Grants to States to Advance Safe, Equitable Mobility for Teens
The Governors Highway Safety Association (GHSA) and Ford Motor Company Fund, the philanthropic arm of the Ford Motor Company, are celebrating a 20-year partnership dedicated to youth traffic safety by awarding grants totaling $94,000 to four states to advance access to safe mobility for teens in underserved and socioeconomically disadvantaged communities. Vehicle crashes are the […]
Consumer Group Concerned California Insurance Commissioner Approved Over $1 Billion in Auto Insurance Rate Hikes
Consumer Watchdog says Insurance Commissioner Lara’s approval last week of a $263.7 million rate hike by California’s largest insurer, State Farm, marks the latest in a flurry of approvals of unjustified 2023 auto insurance rate hikes by the top 6 auto insurers, collectively totaling over $1 billion. These companies insure approximately 48% of the state’s […]
Boyd Group Reports Sales Up Nearly 30% in 2022
Same-store sales up nearly 20%. Demand for collision repair services exceeded capacity. Boyd Group Services Inc. (TSE:BYD) today announced the results for the the fourth quarter and full year ended December 31. For the year, sales increased by 29.9% to $2.4 billion from $1.9 billion in the same period of 2021, including same-store sales increases […]
U.S. Property/Casualty Insurance Industry Projected to Suffer $26.5 Billion Underwriting Loss in 2022
The U.S. property/casualty (P/C) industry recorded a $26.5 billion net underwriting loss in 2022, a slide of $21.5 billion from the prior year’s underwriting loss, according to a new AM Best report. These preliminary results are detailed in a new Best’s Special Report, titled, “First Look: 12-Month 2022 US Property/Casualty Financial Results,” and the data […]
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