LKQ North America is using Tractable’s Artificial Intelligence (AI) to accelerate and optimize the recycling of the salvage vehicles LKQ procures across their North America segment. The AI uses computer vision, a technology that allows algorithms to reason based on images, to assess the specific damage on each vehicle and determine which parts can be […]
LKQ’s Elitek Vehicle Services Expands into Remote Automotive Diagnostics and Programming
Effective today, Elitek Vehicle Services is expanding its services beyond on-site mobile diagnostics and repair to also include remote automotive diagnostics and remote programming. Repair facilities can now call one company, Elitek, to service all their diagnostic service needs. Since 2019, under the Elite Electronics and VeTech Automotive Electronics brands, LKQ’s diagnostic services business, now […]
LKQ Acquires Hybrid Battery Reconditioner Green Bean Battery
LKQ Corporation (NASDAQ: LKQ) today announced that it has acquired the business and assets of Green Bean Battery, LLC. Founded in 2016, Green Bean is a hybrid battery reconditioner and installer, which has developed a proprietary hybrid battery reconditioning process that creates a more reliable battery while simultaneously extending its useful life. Green Bean acquires […]
FTC Report to Congress Examines Anti-Competitive Repair Restrictions
Report recommends ways to expand consumers’ repair options, including more enforcement, and use of voluntary agreements between manufacturers and independent repairers. In a new report to Congress, the Federal Trade Commission identifies numerous types of repair restrictions across industries such as mobile phones and automobiles. Concerns raised in the report and by proponents of an […]
LKQ Reports First Quarter Revenue of $3.2 Billion, Up 5.7% from Last Year
Parts and services organic revenue increased 0.6% overall and 2.2% on a per day basis during the quarter. March was up 15.7% on per day basis. LKQ Corporation (NASDAQ:LKQ) today reported first quarter 2021 revenue was $3.2 billion, an increase of 5.7% as compared to $3.0 billion in the first quarter of 2020. For the […]
LKQ Aftermarket Parts Considerations Online Training Course Available Through I-CAR
LKQ Corporation announced the availability of a new online training course hosted within I-CAR’s virtual training library, Aftermarket Collision Replacement Parts Considerations. LKQ has been supporting the collision repair industry through the I-CAR Sustaining Partner program since 2018. The Aftermarket Collision Replacement Parts Considerations course was released March 2 and is designed to educate the […]
LKQ Acquires Nebraska-Based Mobile Diagnostics Company
LKQ Corporation announced that it is acquiring Greenlight Automotive, a Nebraska-based automotive mobile diagnostic services business. Initially, until all systems are converted, Greenlight will continue to operate under its current branding. By year end, Greenlight will officially migrate to Elitek Vehicle Services branding. Through Greenlight, Elitek continues to expand its national coverage to include the […]
LKQ Opens Central Distribution Center in the Netherlands
After a construction time of just one year, LKQ Fource has opened a new 50,000 square meter (538,000 sq. ft.) warehouse that will play an important role as a part of LKQ’s European logistics footprint. “Our principle regarding parts availability is ‘Logistics without Borders’ to seamlessly serve our customers. Digitalization gives us the opportunity to […]
LKQ Reports Fourth Quarter Revenue Down 1.9% Compared to 2019
LKQ Corporation (Nasdaq:LKQ) reported evenue for the fourth quarter of 2020 was $2.95 billion, a decrease of 1.9% as compared to $3.01 billion in the fourth quarter of 2019. For the fourth quarter of 2020, parts and services organic revenue decreased 5.2% (6.1% on a per day basis), while the net impact of acquisitions and […]
LKQ Brings Services Business Under Elitek Vehicle Services Brand
LKQ Corporation today announced that it is bringing its two mobile automotive services businesses together under a single brand, known as Elitek Vehicle Services. Since acquiring Elite Electronics and VeTech Automotive Electronics in 2019, LKQ organically grew to become the largest U.S. provider of mobile, on-site vehicle services to automotive collision repair facilities, mechanical repair […]