In a statement, the Motor & Equipment Manufacturers Association (MEMA) announced its opposition to the latest round of tariffs announced by the Trump Administration on July 31 on products imported from China. “MEMA has repeatedly called for China and the United States to work together to reach a trade agreement that works for both countries. […]
Consumer Sentiment Up in July
The University of Michigan survey was up both on a month-over-month and year-over-year basis. Consumer confidence in July increased slightly during the month as consumers indicated positive job and income prospects remain though they are more cautious about home and auto purchases. The Index of Consumer Sentiment stood at 98.4 for the month of July, […]
Boyd Group Adds Collision Repair Centers in Florida and Manitoba
The Boyd Group Inc. announced the July 31, opening of a collision repair center in Destin, Fla. Located in the Panhandle of Florida, Destin is the principal city on Florida’s Emerald Coast, with approximately 4.5 million visitors annually. “This new location fills a void between our Fort Walton Beach and Panama City Beach repair centers,” […]
Genstar Capital Acquires Majority Stake in OEConnection
OEConnection LLC (OEC) Providence Equity Partners L.L.C. and Genstar Capital, announced an agreement for Genstar to acquire a majority stake in OEC from funds advised by Providence. As part of the transaction, current investors Ford Motor Company and General Motors will each retain their minority investments in the Company. Financial terms of the transaction were […]
Novelis Launches New High-Strength Automotive Aluminum for Automotive Body Designs
Novelis Inc., the aluminum rolling and recycling company, announced the launch of Advanz 6HS-s650, a precisely engineered aluminum automotive body sheet product that exceeds industry standards for strength, lightweighting, formability, performance and structural integrity. It is the strongest 6xxx series product with a 15 to 25 percent in-service strength advantage over incumbent high strength aluminum […]
Drew Technologies Diagnostics Approved for Honda’s ProFirst Certified Network
DriveCRASH, Drew Technologies’ collision-focused diagnostic platform, has been accepted by American Honda’s ProFirst Certified Collision Network for complete vehicle scanning. DriveCRASH utilizes Honda’s Diagnostic Software (HDS/i-HDS) in conjunction with DrewTech’s CarDAQ-Plus3 J2534 vehicle communication hardware interface to accurately provide the following vehicle data through remote scanning services: All modules DTC scans using HDS/i-HDS Passenger Seat […]
Collision Repair Education Foundation and I-CAR Release Snapshot Survey on Technician Base
Industry needs nearly 14,000 new technicians each year just to replace those that left the trade. The Collision Repair Education Foundation and I-CAR announced the release of an updated executive summary of the Snapshot of the Collision Repair Industry survey. The survey provides data on both the business environment and the technician workforce. Over 675 […]
IAA Acquires DDI Technology
IAA, Inc. (NYSE:IAA) announced today its acquisition of DDI Technology, an electronic lien and title technology firm directly integrated with over 5,370 financial institutions as well as DMVs in 25 states. DDI’s technology solutions are focused on several key areas of the title and lien release management including electronic vehicle registration, electronic lien and title […]
Fenix Parts Completes Acquisition of Cox Truck and Van
Fenix Parts, Inc. announced today the closing of the previously announced transaction to acquire Cox Truck and Van, Inc. (CTV). This is the first acquisition completed to the Fenix Parts platform since the company was acquired by affiliates of Stellex Capital Management LP in April 2018. CTV, founded in 1977, operates a full service auto […]
ASE Announces Conference on ADAS Technician Assessment
ASE announced it will conduct a conference in mid-September to determine how technicians can be accurately and fairly assessed for competency in diagnosing, repairing, replacing and calibrating Advanced Driver Assist Systems (ADAS) and components. In its announcement, ASE said that the structure of different manufacturers’ advanced driver assistance systems, the procedures to calibrate the systems, […]
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