AutoCanada Inc. (TSE:ACQ), a multi-location North American automobile dealership group, announced that it has acquired Kavia Auto Body, a collision repair center located in Saskatoon, Saskatchewan. Kavia Autobody is an SGI Elite collision center and has provided superior collision services to Saskatoon and the surrounding area for nearly 40 years. The store also maintains certifications […]
U.S. Length of Rental Up Three Days in Third Quarter from 2021
Latest data from Enterprise Rent-A-Car shows average length of rental is up nearly six days in two years. Average Length of Rental (LOR) for collision replacement-related rentals in Q3 2022 was 18.2 days, representing a three-day increase from Q3 2021 (15.2 days). Last year, when we compared Q3 2021 to Q3 2020, the results showed […]
Patrick Crome Receives AASP/NJ’s Russ Robson Scholarship Award
As part of the Alliance of Automotive Service Providers of New Jersey’s (AASP/NJ) Annual Meeting held October 19 at Gran Centurions in Clark, N.J., Patrick Crome, a Mercer County Vocational School student employed by Compact Kars (Clarksburg), was named the recipient of the 2022 Russ Robson Scholarship Award. “Russ was a big supporter of training, […]
Opus IVS Acquires Auto Techcelerators
Opus IVS today announced the completion of the acquisition of Auto Techcelerators, the provider of ADAS identification, calibration and ADAS safety system verification software through their popular ADAS CoPilot , Calibration CoPilot and Test Drive CoPilot product suites. According to Opus IVS, Auto Techcelerators counts many leading automotive repair shops and organizations among their customers […]
Axalta Reports Sales Up 13.8% in Third Quarter
Reports year-over-year market gains and continued recovery in Refinish and Mobility coatings segments. Axalta Coating Systems Ltd. (NYSE:AXTA) reported third quarter net sales of $1,238.7 million increased 13.8% year-over-year, after the negative 6.3% foreign currency impact. The strong year-over-year growth was driven by 9.7% higher average price-mix, a 1.6% M&A benefit and 8.8% better volumes. […]
Bosch ADS Software Adds Photo Feature, 2023 Vehicle Coverage
Bosch, the global supplier of technology and services, released the 5.1, 5.2 and 5.3 software updates for the ADS and ADS X series scan tools. These updates further improve user experience by introducing a ‘Manage Photo’ feature, allowing technicians to launch the camera or upload existing photos to Scan Reports, Special Test and Calibration reports. […]
Ford and VW to Wind Down Argo AI Autonomous Vehicle Joint Venture
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 […]
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