LKQ Corporation (NASDAQ:LKQ) today reported revenue for the fourth quarter of 2021 was $3.2 billion, an increase of 7.9% as compared to $3.0 billion in the fourth quarter of 2020. For the fourth quarter of 2021, parts and services organic revenue increased 6.6% (7.3% on a per day basis), while the net impact of acquisitions […]
U.S. International Trade Commission Launches Investigation into Aftermarket Lamps Patent Infringement
Following complaints from Hyundai and Kia, the Commission launches two Section 337 investigations into aftermarket lamps that vehicle manufacturers say violate their patents The U.S. International Trade Commission (USITC) has voted to institute two Section 337 investigations into aftermarket replacement automotive lamps. The investigations are based on complaints filed by Kia Corporation, of Seoul, Republic […]
LKQ’s Terry Fortner to Retire at End of July
Terry Fortner, Vice President of Sales & Marketing for North America, at LKQ Corporation plans to retire this summer. Fortner joined LKQ in 2009 to lead its insurance and collision repair industry relations, quality assurance and government affairs. He joined LKQ following a 32-year career at Nationwide Insurance. In a message to customers, Justin Jude, […]
Collision Repair Education Foundation Asks for Your Vote to Support School Programs through LKQ Cares Holiday Fundraiser
Up to $400,000 in financial support available to 10 participating charities. The Collision Repair Education Foundation (CREF) is asking for the industry’s support with the launch today of the inaugural LKQ Cares Holiday Vote on Giving Tuesday. The program provides a chance for ten charities to compete for the biggest share of $400,000. CREF will […]
Over 250 Firefighters Trained through LKQ Partnership with Northeastern Illinois Public Safety Training Academy
LKQ Corporation celebrated its three-year partnership with the Northeastern Illinois Public Safety Training Academy (NIPSTA). Since the program began in 2018, LKQ has given access to its facilities across the State of Illinois for NIPSTA to provide technical rescue training to over 250 firefighters. LKQ facilities assisted Illinois Fire Marshalls throughout the Chicagoland area and […]
LKQ Corporation Reports Third Quarter Revenue Up 8.2% to $3.3 Billion
Sales were up compared to 2020 pandemic impact, but key measures that influence its business such as repairable claims remain below 2019 levels. Supply chain crisis creating acquisition opportunities. LKQ Corporation (NASDAQ:LKQ) reported Revenue for the third quarter of 2021 was $3.3 billion, an increase of 8.2% as compared to $3.0 billion in the third […]
Certified Collision Group Announces Strategic Partnership with Elitek for Collision Repair Diagnostic Solutions
Certified Collision Group (CCG) announced a partnership with Elitek Vehicle Services, an LKQ Corporation company, to better serve the diagnostic needs of its more than 575 independent collision repair affiliates in 39 states. “We are thrilled to expand our partnership with LKQ with the addition of Elitek,” said Marty Evans, CCG’s Chief Operating Officer. “This […]
LKQ Reports Second Quarter Revenue of $3.4 Billion
Announces additional $1 billion stock repurchase program. LKQ Corporation today reported revenue for the second quarter of 2021 was $3.4 billion, an increase of 30.8% compared to $2.6 billion in the second quarter of 2020 that had been impacted by the pandemic. For the second quarter of 2021, parts and services organic revenue increased 21.9%, […]
LKQ North America Partners with Tractable to Deploy AI to Optimize Salvage Vehicle Recycling
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 […]
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