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 […]
Collision Repair Education Foundation Announces Six New Board Members
The Collision Repair Education Foundation (CREF) announced the appointment of six new members to its Board of Trustees. The six Board of Trustees members who joined in 2020 include: Tom Brown, 3M Paul Folino, LKQ Corporation Brenda Hogen, PartsTrader Ken Hudson, Farmers Insurance Scott Kohl, Liberty Mutual Insurance Sandee Lindorfer, Allstate Insurance Company Tom Wolf, […]
LKQ Parts Donation Benefits Collision Repair School in Southwestern New York State
Students in the Collision Repair and Auto Body Technology programs at CA BOCES in Belmont, Ellicottville, and Olean, N.Y. recently benefitted from a donation from LKQ Corporation. Several times a year, the LKQ location in Cheektowaga donates outer body panels and various automotive parts that are delivered to CA BOCES centers for student hands-on learning […]
LKQ Reports Revenue Down 3.2% in Third Quarter Compared to Last Year
LKQ Corporation (Nasdaq: LKQ) today reported third quarter 2020 revenue was $3.0 billion, down 3.2% year-over-year. The company’s overall parts and services organic revenue declined 4.5% year-over-year during the quarter. The net impact of acquisition and divestitures revenue was -1.0% and foreign exchange rates was 2.1%, for a total parts and services revenue decline of […]
Alex Gelbcke Named CEO of LKQ’s Fource in Europe
Starting September 1, the management team of LKQ Europe and Fource welcomes Alex Gelbcke, a well-known and highly respected automotive industry veteran. There will be a transition period until the end of 2020, at which time Alex will take over the position of CEO from current CEO, Sinon Galvin. Gelbcke will take over daily management […]
Jacob Welch Joins LKQ Board of Directors
LKQ Corporation (NASDAQ: LKQ) announced that it has appointed Jacob H. Welch of ValueAct Capital to its Board of Directors effective today. Joseph Holsten, Chairman of LKQ Corporation stated, “We are delighted to welcome Jake to LKQ’s Board. Jake’s investment management track record and public market experience will further complement the diverse skills and experience […]
LKQ Reports Sales Down 19.1% in Second Quarter Compared to 2019
Company reports its improved performance in April and May continued in June as economy reopened. LKQ Corporation (NASDAQ:LKQ) today reported second quarter 2020 revenue of $2.6 billion down 19.1% from $3.2 billion in the second quarter of 2019. For the quarter, parts and services organic revenue decreased 16.8% year-over-year, while the net impact of acquisition […]
LKQ Europe Reports Continuing Recovery Across Business
LKQ Europe CEO Arnd Franz says that while volume is below pre-pandemic levels, they are seeing continued growth in its business. “After a significant slump in the spare parts business at the beginning of April, the market will not return to its former level so quickly, but we are seeing continuous recovery of the workshop […]