Higher used car prices and parts shortages increasing costs of claims. Berkshire Hathaway reported its third quarter 2022 earnings, including details about its GEICO subsidiary, the second largest private passenger auto insurer in the U.S. on November 5. According to the company, GEICO’s pre-tax underwriting losses in 2022 reflected increased claims severities, primarily due to […]
Classic Collision Acquires Collision Repair Centers in North Carolina and Texas
Classic Collision, LLC announced two new closings Friday, including the acquisition of Smitty’s Collision in Mooresville, N.C. and a CARSTAR Franchise in Houston, Texas. Smitty’s Collision opened their doors 20 years ago with a commitment to bring quality repairs to the Mooresville area. “We used the most up to date technology to return vehicles to […]
Collision Repair Education Foundation Announces 69 Schools Receive $436,000 in Benchmark Grants Funded by Industry
Thanks to the generosity of a multitude of industry partners, both small and large, the Collision Repair Education Foundation (CREF) announced that 69 collision schools will receive $436,000 in Benchmark Grant funding to financially support their efforts to educate the collision industry’s future workforce and making a difference in the lives of the students training […]
AkzoNobel Named Global Refinish Partner for Electric Vehicle Manufacturer BYD
AkzoNobel (OTCMKTS: AKZOY) announced has become the global refinish partner for new energy vehicle manufacturer BYD Auto Sales Company Ltd., the world’s leading seller of electric vehicles. The company has been a recommended supplier of vehicle refinish products and services to BYD in China since 2017. The new deal means that agreement will continue, while […]
Longtime Pennsylvania Collision Repair Shop Owner Franny Monaghan Passes Away
Francis X. “Franny” Monaghan, who owned and operated Monaghan’s Collision Service in Abington and Willow Grove, Pa. passed away November 1 at the age of 79. Franny was active in the Delaware Valley Collision Specialists association for many years and active at the state and national level. He was a frequent participant for many years […]
Uni-Select Inc. Reports 2022 Third Quarter and Nine-Month Highlights and Financial Results
FinishMaster U.S. segment reported sales of $189.1 million, with organic growth of 8.1%. Uni-Select Inc. (TSE:UNS) today reported Consolidated sales of $452.7 million for the third quarter ended September 30, up $26.6 million or 6.2% from last year. The results were up 11.6% when the impact of the unfavorable fluctuation of the British pound and […]
CCC Reports Third Quarter Revenue Increased 13% from 2021
CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) today announced total revenue was $198.7 million for the third quarter of 2022 that ended September 30, an increase of 13% from $176.6 million for the third quarter of 2021. “CCC delivered strong third quarter results, highlighted by 13% revenue growth and 39% adjusted EBITDA margin. Our solid performance […]
Allianz Says Increased Part Repairs, Recycled Parts Use Would Significantly Lower Collision Repair Industry CO2 Emission in Europe
Company also forms partnerships to help repairers source recycled parts. Seeks to create sustainable repair facility certification program. Sustainable car insurance was the focus of the 10th Allianz Motor Day on October 19. Discussions at the international event hosted by global insurer Allianz centered on electric mobility as a key lever for decarbonization, as well […]
United Auto Selects Solera Qapter Solution
The United Automobile Insurance Company is championing a digital-first approach for its customers using Qapter Intelligent Estimating with Visual Intelligence, an AI-powered solution from Solera. By utilizing Qapter, United Auto reports that customers are seeing reduced wait times while appraisers have significantly improved their production. “As customers increasingly seek a self-service digital option for their […]
I-CAR Announces Annual Award Recipients
The Inter-Industry Conference on Auto Collision Repair (I-CAR) announced the 2021 recipients of its annual Jeff Silver and Russ Verona I-CAR Awards that recognize one individual and one collision repair shop for advancing technical education and professionalism in the collision repair industry. The Awards were presented at SEMA 2022 in Las Vegas. The Jeff Silver […]
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