The Specialty Equipment Market Association (SEMA) launched Drive The Vote, a campaign to mobilize voters among its 7,000 member companies and the millions of American automotive enthusiasts, with resources to enable their participation in the 2024 general election. “Voting is an essential activity for our nation and for ensuring the automotive aftermarket industry has a […]
U.S. Consumers Less Likely to Purchase an EV Than Last Year
An increase in interest for hybrid vehicles, however, shows a new pathway to EV adoption. The fifth iteration of the EY Mobility Consumer Index (MCI), a global survey of almost 20,000 consumers from 28 countries, found that despite record U.S. consumer interest in electric vehicles (EVs) in 2023, only 34% of U.S. consumers intend to […]
Classic Collision Acquires Seven Locations in North Carolina
Classic Collision, LLC announced the acquisition of Absolute Collision Center, a regional MSO based in North Carolina. Absolute Collision Center has 50 years of experience and serves the cities of Charlotte, Hampstead, Forest City, Leland, Shelby and Wilmington. “We have been committed to service that is true, honest, and done with integrity. We believe in […]
UK’s Steer Automotive Acquires Seven Rye Street Group Collision Repair Centers
Steer Automotive Group, the UK-based collision repair facility consolidator, announced the acquisition of Rye Street Group that manages a network of seven collision repair centers holding 23 manufacturer approvals and 24 insurer approvals. Both Rye Street Group Managing Directors, Bill Duffy and Lee McNaughton will be exiting the business as part of this transition. Nick […]
ProColor Collision Franchisee Adds Third Location in Southern California
ProColor Collision franchise owner Eddy Samawi has opened a third ProColor Collision facility to serve residents and businesses in the greater Inland Empire area. ProColor Collision Lake Elsinore, located at 18357 Pasadena St. in Lake Elsinore, Calif. joins Samawi’s ProColor Collision locations in Rialto and Fontana as another state-of-the-art repair facility. “I am pleased to […]
Mitchell Partners with PAVE for AI-Enabled Vehicle Inspections
Mitchell, an Enlyte company, today announced that it is teaming up with PAVE to automate vehicle inspections and conditioning. Using Mitchell’s cloud-based appraisal solution, comprehensive data and open platform with PAVE’s proprietary artificial intelligence (AI) and guided image capture application, U.S. and Canadian organizations will be able to generate graded condition reports from uploaded photos. […]
New Light Vehicle Sales Rate Lower in August Despite Volume Increasing
The National Automobile Dealers Association (NADA) reported new light-vehicle sales in August totaled a SAAR of 15.1 million units, down 1.1% from August 2023’s 15.3 million. According to Patrick Manzi, NADA Chief Economist, the August 2024 sales calendar included Labor Day weekend this year, which led to a raw sales volume totaling 1.42 million units, […]
Military Veteran New Maaco Owner in San Antonio
Maaco announced that Jubrail Abassi, who operated the Maaco location at 126 Clarence Street in San Antonio, Texas, has passed on his legacy to new shop owner, Matthew Moreno, who has signed on for a 15-year term. Before joining the Maaco franchise family, Moreno served eight years the U.S. Military as a Calvary Scout where […]
Copart Reports Fiscal 2024 Full Year Revenue Up 9.5% to $4.2 Billion
Copart, Inc. (NASDAQ: CPRT) reported financial results for the quarter ended July 31, revenue, gross profit, and net income attributable to Copart, Inc. were $1.1 billion, $454 million, and $323 million, respectively. These represent an increase in revenue of $71.4 million, or 7.2%; a decrease in gross profit of $(4.0) million, or (0.9)%; and a […]
Semiconductor Shortage May Impact Auto Industry Later this Year
S&P Global Mobility warns automotive chip supply could be low by the end of the year. Key companies in the automotive and semiconductor industries have expressed concerns about a potential semiconductor shortage in the second half of 2025 or 2026, but automotive chip supplies will be low by the end of 2024. According to S&P […]
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