According to a report in Bloomberg, Solera Holdings is considering returning to the public markets via a merger with the special purpose acquisition company (SPAC) Apollo Strategic Growth Capital (APSG). SPACs are a type of blank check company created to pool funds in order to finance a merger acquisition. They have become popular as a […]
Axalta Releases Preliminary Fourth Quarter 2020 Earnings Update
Axalta Coating Systems Ltd. (NYSE:AXTA) announced its preliminary results for the fourth quarter of 2020. Fourth quarter net sales of $1,074.5 million decreased 2.2% from $1,098.4 million in Q4 2019, and increased 4.6% sequentially from Q3 2020 with all end-markets showing improvement, given continued recovery from pandemic-related demand impacts. According to the company refinish demand […]
ASA Joins with Other Business Groups Opposing Legislation to Raise the Federal Minimum Wage to $15
The Automotive Service Association (ASA) signed onto a letter sent by the National Federation of Independent Businesses (NFIB) to the U.S. Congress opposing the Raise the Wage Act of 2021. This legislation, if passed, would raise the federal minimum wage to $15 per hour over the next five years. According to the Congressional Budget Office […]
Fix Auto USA Celebrates 10th Anniversary Milestone of Franchise Collision Repair Network
Fix Auto USA is celebrating the 10th anniversary of its collision repair franchise network. Fix Auto USA was founded by collision repair visionaries Erick and Shelly Bickett, who launched their franchise system in 2011, led by Paul Gange. Their goal was to create a national network of high-performing independent body shops and support it with […]
Mitchell International’s Bano Ramirez Passes Away
Bano Ramirez, a member of Mitchell International’s Solution Specialist team, passed away on January 25. Bano touched many lives in his over 40 years in the industry. Bano spent 12 years with Mitchell International and previously owned and operated Bob’s Body and Fender in Van Nuys where he was an active member of the community […]
Insurance Will Face COVID-19 Side-Effects Even After Pandemic Ends
Half of respondents indicate they will continue to work from home all or part of the time after the pandemic ends. A new study from the Insurance Research Council (IRC) finds that two-thirds of respondents worked from home at least part of the time during the COVID-19 pandemic. The survey, conducted in October, also reveals […]
Solera Research Finds More Than Three-Quarters of Consumers Prefer AI-Automated Claim and Collision Repair Experience
Consumers also favor more digital channels to communicate with repair facilities. New research by Solera Holdings, Inc. found 76% of consumers trust automotive claims driven entirely by Artificial Intelligence (AI). A slightly higher percentage, at 78%, would favor a repair shop that provides more digital channels to communicate. The survey also identified barriers to AI […]
Axalta Introduces Cromax XP Solventborne Basecoat in North America
Axalta (NYSE: AXTA) announced the launch of Cromax XP, its latest solventborne basecoat for refinish customers in North America. This new technology delivers outstanding coverage, color match, and final appearance in a simple, easy-to-use system. Cromax XP solventborne basecoat now joins Cromax EZ waterborne basecoat to complete the range of products available in the Cromax […]
Bosch and Mitchell Introduce New ADAS Target System to Improve Collision Repair Workflow
Mitchell and Bosch Automotive Service Solutions announced the availability of the MD-TS21. The new computer-based target system is designed to allow repair facilities to quickly and precisely calibrate front-facing cameras, blind-spot monitors and radar sensors in popular automobile models with ADAS. The MD-TS21 uses Bosch’s vehicle coverage, patented technology and industrial-grade digital cameras to automatically […]
PPG to Invest $20 million to Advance Racial Equity
PPG (NYSE: PPG) and the PPG Foundation announced a commitment to invest $20 million by 2025 to address systemic racism and advance racial equity in the U.S. by funding educational pathways for Black communities and people of color. The commitment strengthens PPG’s focus on education – a priority giving area for PPG and the PPG […]
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