LOR up nearly five days compared to last year. According to the latest data from Enterprise Rent-A-Car, the first quarter of 2022 saw average Length of Rental (LOR) for collision replacement-related rentals increase 4.9 days when compared to 2021. This nearly five-day increase continues the trend of unprecedented industry increases, including an almost four (3.9) […]
Wren’s Collision Group Acquires Ninth Collision Repair Center
Wren’s Collision Group announced the acquisition of a new 15,000 sq. ft. collision repair center on Monday, April 18, located at 1852 Josh Pirkle Road in Braselton, Ga. Established by Ray Wren, Wren’s Body Shop of Douglasville, Georgia first opened its doors to the public in 1954. With the latest acquisition, third-generation owners Phil and […]
1Collision Adds Collision Repair Center to Network Southern California
1Collision announced the addition of VIP Auto Body, located in Chatsworth, Calif, a suburb of Los Angeles, to its network. Established more than 30 years ago, the business prides itself on delivering high-quality repair work and exceptional customer service. It is owned by cousins Chris Serobyan and Andy Seropian. “We’re excited to join 1Collision and […]
Ford Begins Production of Electric F-150
Ford (NYSE:F) began production of its all-new, electric F-150 Lightning pickup this week at the Rouge Electric Vehicle Center within Ford’s historic Rouge Complex. “Today we celebrate the Model T moment for the 21st Century at the Rouge Electric Vehicle Center,” said Ford Executive Chair Bill Ford. “The Rouge is where Ford perfected the moving […]
IAA Appoints Michael Sieger to Board of Directors
Board forms operations committee. IAA, Inc. (NYSE:IAA), a leading global marketplace connecting vehicle buyers and sellers, today announced that it has appointed Michael Sieger to its Board of Directors, effective immediately as of the conclusion of the Company’s 2022 annual meeting of stockholders. As a result of the appointment, IAA’s Board will expand to 10 […]
Axalta Reports Sales Up 10.4% in First Quarter Compared to Last Year
Refinish sales up 15.6% compared to 2021 and volume up 4%. Axalta Coating Systems Ltd. (NYSE:AXTA) reported net sales of $1,174.1 million for its first quarter ended March 31, an increase of 10.4% year-over-year, including a 3.0% foreign currency offset. The year-over-year growth was driven by 8.8% higher average price-mix, a 3.6% M&A benefit, and […]
LKQ Corporation Reports Revenue of $3.3 Billion in First Quarter
LKQ Corporation (NASDAQ:LKQ) today reported revenue for the first quarter of 2022 was $3.3 billion, an increase of 5.6% as compared to $3.2 billion in the first quarter of 2021. Parts and services organic revenue increased 6.9% (5.6% on a per day basis), while the net impact of acquisitions and divestitures increased revenue by 1.7% […]
Consumer Federation Says Top 4 U.S. Auto Insurance Executives Received $196.8 Million in 2020-2021 Compensation
Group says insurance departments should collect executive compensation data and prevent companies from including executive bonuses and other “Excess Compensation” in insurance rates. As U.S. drivers face a raft of auto insurance premium hikes from several of the nation’s largest insurers, company CEOs have been collecting what the Consumer Federation of America (CFA) says are […]
Insurify Research Indicates 96% of American Drivers Don’t Understand Their Car Insurance Policies
Insurify, the car insurance comparison site, released its The 5 Biggest Car Insurance Myths: What Most Americans Get Wrong About Their Policies report that investigates the average American’s car insurance literacy. The research found that 96% of American drivers don’t understand fundamental aspects of their car insurance policy, including what damages it covers them against and what […]
Caliber Launches 11th Annual Summer Food Drive
The Caliber family of brands, including Caliber Collision, alongside Caliber Auto Care and Caliber Auto Glass, launches its 11th annual Restoring You Food Drive on May 2. This food drive helps demonstrate Caliber’s commitment to its purpose of Restoring the Rhythm of Your Life. Non-perishable food and monetary donations can be made at any Caliber […]
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