Understanding the challenges the auto repair industry is facing with COVID-19, the Automotive Service Association (ASA) is holding a free one-hour, online Virtual Industry Professional Forum at Noon (EDT) on Wednesday, May 6. Registration for the event is available online. According to Ray Fisher, ASA President and Executive Director, the discussion will include: A review […]
Independent Auto Damage Appraisers Association Launches Certification Program
The Independent Auto Damage Appraisers Association (IADA) announced the launch of its new IADA Appraiser Certification Program. Not just a certificate for completing a certain number of courses, this program judges if an appraiser has the professionalism, experience, mastery, and dedication to be counted among the most skilled appraisal professionals in the world. Three certification […]
Auto Care Association Signs Letter Urging President Trump to Delay All Import Duties
The Auto Care Association joined hundreds of businesses and associations in the Americans for Free Trade coalition, signing on to a letter urging President Trump to delay the collection of all duties and fees on imports for March through June 2020. While thanking the president for his leadership on delaying payment of certain taxes to […]
New Vehicle Sales Continue Downward Slide in April
Edmunds forecasts April will be the worst auto sales month in at least 30 years due to the coronavirus pandemic. As can be expected given the number of dealership sales department closures due to being deemed non-essential businesses, Edmunds say that April will be a record down month for the auto industry due to the […]
Gulf States Toyota Selects CCC for Collision Repair Parts Marketing Program
CCC Information Services Inc. (CCC) announced today that Gulf States Toyota, Inc. will leverage CCC Promote technology to provide its dealers with a new marketing solution to price and promote parts to thousands of collision repair facilities while estimates are being written. CCC Promote is powered by the CCC ONE platform used by 25,000 repairers […]
LKQ Reports First Quarter Revenue Down Versus Prior Year on Coronavirus Impact
LKQ Corporation (NASDAQ:LKQ) today announced revenue for the first quarter of 2020 was $3.0 billion, a decrease of 3.2% as compared to $3.1 billion in the first quarter of 2019. For the first quarter of 2020, parts and services organic revenue decreased 3.5% and 4.7% on a per day basis. Net income for the first […]
Axalta to Expand Waterborne Production in China
Axalta (NYSE:AXTA) broke ground on the newest phase of its Jiading plant in Shanghai, China to expand its waterborne coatings capacity in the country. Expected to be operational by early 2021, this expanded facility will position Axalta to meet rising demand for sustainable coatings from automotive and industrial customers across southern and eastern China. “This […]
Nationwide to Close Offices in Five States in Permanent Shift in Workplace and Work-from-Home Strategy
Employees at five locations in the U.S. will shift to work-at-home permanently. Nationwide announced a plan to permanently transition to a hybrid operating model where staff will be primarily working-from-office in four main corporate campuses and working-from-home in most other locations. “We’ve been investing in our technological capabilities for years, and those investments really paid […]
Boyd Group Reports First Quarter Results Up 12.5% Versus 2019
Same store sales decreased 1.5%. Company raises CA$200 million to fund future acquisitions and improve balance sheet. Boyd Group Services Inc. (TSE:BYD) announced its preliminary first quarter financial results and that it raised approximately CA$200 million ($143.6 million) through a bought deal share issuance under an agreement with CIBC Capital Markets, Cormark Securities Inc., Goldman […]
PPG Reports Lower First Quarter Sales as Pandemic Impacts Results
PPG (NYSE:PPG) reported first quarter 2020 net sales of about $3.4 billion, down approximately 7% versus the prior year. Selling prices increased more than 1%. Sales volumes were down 8% versus the prior year, in aggregate, including an estimated impact of the COVID-19 pandemic of $225 million, or about 6%. Unfavorable foreign currency translation impacted […]
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