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LKQ Corporation Reports Revenue of $3.3 Billion in First Quarter

April 28, 2022 By CollisionWeek Editor

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% […]

Filed Under: News Tagged With: Earnings, LKQ Corporation

Consumer Federation Says Top 4 U.S. Auto Insurance Executives Received $196.8 Million in 2020-2021 Compensation

April 28, 2022 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: Auto Insurance, Consumer Federation of America, Executive Compensation

Insurify Research Indicates 96% of American Drivers Don’t Understand Their Car Insurance Policies

April 28, 2022 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: Insurify

Caliber Launches 11th Annual Summer Food Drive

April 28, 2022 By CollisionWeek Editor

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 […]

Filed Under: News Tagged With: Caliber

Driven Brands Reports Revenue of $468.3 Million in First Quarter

April 27, 2022 By CollisionWeek Editor

Revenue up 42% compared to last year. System-wide revenue was $1.3 billion. Driven Brands Holdings Inc. (NASDAQ:DRVN) today reported revenue was $468.3 million, an increase of 42% versus the prior year for its first quarter ended March 26. For the first quarter, system-wide sales were $1.3 billion, an increase of 26% versus the prior year, […]

Filed Under: News Tagged With: Driven Brands, Earnings

Crash Champions Acquires Collision Repair Center in Montana

April 27, 2022 By CollisionWeek Editor

Crash Champions, LLC announced today the addition of Collision Pro to its growing Montana footprint. Collision Pro has two locations in Helena, at 420 Dorothy Street and 700 River Rock Drive, and the acquisition gives Crash Champions eight collision repair centers across the Big Sky state. This transaction follows Crash Champions’ earlier acquisitions of American […]

Filed Under: News Tagged With: Acquisitions, Crash Champions, Montana

Southeast Toyota Distributors and JAXPORT Announce $210 Million Agreement to Relocate and Expand Vehicle Processing Operations

April 27, 2022 By CollisionWeek Editor

The Jacksonville Port Authority (JAXPORT) Board of Directors unanimously approved a $210 million long-term lease and relocation agreement with Southeast Toyota Distributors (SET), the world’s largest independent distributor of Toyota vehicles. SET is a subsidiary of Deerfield Beach, Florida-based JM Family Enterprises. The company distributes vehicles, parts and accessories to 177 Toyota dealerships in Alabama, […]

Filed Under: News Tagged With: Florida, Openings, Southeast Toyota Distributors

Aviva UK Partners with Tractable to Bring AI to Auto Claims

April 27, 2022 By CollisionWeek Editor

Aviva, one of the largest insurers in the UK, has signed an agreement with Tractable to improve the accuracy and efficiency of UK motor claims by using artificial intelligence (AI). Tractable develops visual AI to aid in the repair of cars and homes by using photos to assess damage enabling the accurate calculation of repair […]

Filed Under: News Tagged With: Agreements Signed, Artificial Intelligence, Aviva UK, Tractable, United Kingdom

PPG Reports First Quarter Net Sales of $4.3 billion

April 26, 2022 By CollisionWeek Editor

Overall sales up 11% over 2021. Inflation drives raw material costs up 25% year-over-year. PPG (NYSE:PPG) reported April 21 that it had record first quarter net sales of $4.3 billion for the first quarter 2022. The result was 11% higher than the previous year. Sales were up due to higher selling prices (+10%), lower sales […]

Filed Under: News Tagged With: Earnings, PPG Industries

U.S. EPA Announces $1.5 Million Penalty for Schnitzer Steel Over Release of Refrigerants from Auto A/C Systems and Appliances

April 26, 2022 By CollisionWeek Editor

The United States, on behalf of the U.S. Environmental Protection Agency, has reached a proposed settlement with Schnitzer Steel Inc. of Portland, Oregon, to resolve alleged violations of the Clean Air Act and regulations designed to protect stratospheric ozone at 40 scrap metal recycling facilities throughout the United States. Schnitzer operates Pick-n-Pull, the self-service used […]

Filed Under: News Tagged With: Lawsuits, Schnitzer Steel, U.S. EPA

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