Industry News

Copart Reports Revenue Up Over 7% in Fiscal Third Quarter

Industry News - Tue, 05/30/2017 - 10:33am

Copart, Inc. (NASDAQ:CPRT) reported financial results for the quarter ended April 30.

For the three months ended April 30, 2017, revenue of $373.9 million an increase of $26.6 million, or 7.7 percent over the same quarter in the previous year. Gross margin was $172.5 million, an increase of $14.9 million, or 9.4 percent for the quarter. Net income was $90.5 million, an increase of $15.9 million, or 21.3 percent from the same quarter last year.

For the nine months ended April 30, 2017, revenue, gross margin, and net income were $1.1 billion, $464.6 million, and $323.9 million, respectively. These represent

You need to be logged in to see this part of the content. Please Login to access.

The post Copart Reports Revenue Up Over 7% in Fiscal Third Quarter appeared first on CollisionWeek.

Mississippi Attorney General and Auto Repair Task Force Release Consumer Guide to Insurance and Auto Body Repair

Industry News - Tue, 05/30/2017 - 10:29am

Last week, Mississippi Attorney General Jim Hood announced the release of the Consumer’s Guide to Insurance and Auto Body Repair.

According to the Mississippi Attorney General’s Office, it convened the Mississippi Auto Repair Task Force in August 2016 in an attempt to give consumers some guidance on navigating the relationship between the collision repair and insurance industry.  The Consumer’s Guide to Insurance and Auto Body Repair addresses what consumers should expect from their insurance companies and auto body repair shops, how to choose a shop, and the different types of repair costs and warranties.

 “Our Consumer Protection Division receives

You need to be logged in to see this part of the content. Please Login to access.

The post Mississippi Attorney General and Auto Repair Task Force Release Consumer Guide to Insurance and Auto Body Repair appeared first on CollisionWeek.

Insurance Auto Auctions Expands Two Locations in Georgia

Industry News - Tue, 05/30/2017 - 10:21am
Adds over 40 acres to branches in Savannah and Tifton

Insurance Auto Auctions, Inc. (IAA) announced the expansion of its Savannah and Tifton, Georgia facilities. The growth of these facilities extends the company’s footprint across the seven locations in the state and demonstrates IAA’s commitment to responding to the increasing needs of its customers in this growing market.

 “The Savannah and Tifton expansions advance our pace of proactive operational growth in this important marketplace to better serve our loyal base of buyers and sellers,” said John Kett, CEO and president of IAA. “Our ability to provide day-to-day storage and

You need to be logged in to see this part of the content. Please Login to access.

The post Insurance Auto Auctions Expands Two Locations in Georgia appeared first on CollisionWeek.

Boyd Group Acquires Assured Automotive’s 68 Collision Repair Centers in Canada

Industry News - Tue, 05/30/2017 - 10:18am
Acquisition of Canada’s largest non-franchise collision repair company more than doubles Boyd’s footprint in the country.

The Boyd Group Income Fund (TSE:BYD.UN) yesterday announced that it has, through a subsidiary company, acquired Assured Automotive Inc., the largest operator of non-franchised collision repair centres in Canada, based in Ontario. The acquisition is expected to be immediately accretive to earnings per unit and cash flow per unit.

According to Boyd, with the acquisition the company will have 474 locations in North America and over 7,300 employees and over CA$1.5 billion ($1.54 billion) in 2016 pro forma revenue.

The acquisition more than doubles

You need to be logged in to see this part of the content. Please Login to access.

The post Boyd Group Acquires Assured Automotive’s 68 Collision Repair Centers in Canada appeared first on CollisionWeek.

Court Rules in AkzoNobel’s Favor in Suit to Unseat Chairman Over PPG Takeover Bid

Industry News - Tue, 05/30/2017 - 10:03am

AkzoNobel (OTCMKTS:AKZOY)yesterday prevailed in a lawsuit brought by investor Elliott Advisors that sought to unseat AkzoNobel’s chairman over the paint manufacturer’s continued resistance to the takeover bid by PPG Industries (NYSE:PPG) that was launched earlier this year. The decision by Amsterdam Enterprise Chamber rejected Elliott’s request to force AkzoNobel to hold a special shareholder meeting on the dismissal of Antony Burgmans, chairman of the AkzoNobel board.

In a statement, PPG said, “PPG remains willing to meet with AkzoNobel regarding a potential combination of the two companies, but without productive engagement, PPG will assess and decide whether or not to

You need to be logged in to see this part of the content. Please Login to access.

The post Court Rules in AkzoNobel’s Favor in Suit to Unseat Chairman Over PPG Takeover Bid appeared first on CollisionWeek.

Memorial Day Travel at Highest Level Since 2005

Industry News - Thu, 05/25/2017 - 11:05am
AAA projects 39.3 Million Americans are expected to travel during Memorial Day weekend. Automobile travel will grow by 2.4 percent.

AAA projects that 39.3 million Americans will travel 50 miles or more away from home this Memorial Day weekend. That is one million more travelers than last year taking to the roads, skies, rails and water, creating the highest Memorial Day travel volume since 2005.

“The expected spike in Memorial Day travel mirrors the positive growth seen throughout the travel industry this year,” said Bill Sutherland, AAA senior vice president, Travel and Publishing. “Higher confidence has led to more consumer

You need to be logged in to see this part of the content. Please Login to access.

The post Memorial Day Travel at Highest Level Since 2005 appeared first on CollisionWeek.

Career and Technical Education Faces Cuts in President’s FY18 Budget

Industry News - Thu, 05/25/2017 - 10:59am
Cuts, if approved by Congress, could impact collision repair training programs at high schools.

Collision repair training programs in high schools would possibly face cuts under the budget proposed by the Trump Administration this week for Fiscal Year 2018 that begins in October 2017.

The Administration is requesting $976.9 million to support career and technical education (CTE) programs under the Carl D. Perkins Career and Technical Education Act (Perkins Act). The request represents a 15 percent reduction from the $1.12 Billion that was approved by Congress for FY 2017.

The Perkins Act provides federal support in the form of grants for CTE programs in all 50 states and the territories.

The Administration explained that overall budget priorities make the cuts necessary.

“Although a decrease is necessary to align with overall Budget priorities, the request would continue to provide significant flexible formula grant funds that support State and local efforts to implement high-quality CTE programs, such as programs of study (non-duplicative CTE courses that progress from the secondary to the postsecondary level and lead to a credential, certificate, or an associate or baccalaureate degree), dual enrollment programs, and career pathways that help students attain the credentials or certificates they need to gain employment in high-skill and high-demand occupations,” the Administration said in the budget proposal to explain the decreased funding. “ The Administration plans to work with Congress to reform and improve this program through the upcoming Perkins Act reauthorization.”

The budget request includes a $27.4 million request for CTE National Programs, an increase of $20 million that would support a competition to promote the development of, “…innovative CTE programs in science, technology, engineering, and mathematics (STEM) fields.” The remaining funds would continue to support State and local implementation of CTE programs under the Act.

Impact on Collision Repair Training Programs

Clark Plucinski, executive director of the Collision Repair Education Foundation, explained that the proposed budget cuts are a serious concern for the collision industry. Collision repair programs have faced declining funding for many years, resulting in a significant number of school collision repair program closures. The Foundation has been working to help schools realign there programs to industry needs and provide financial support from the industry to support those programs.

“Over the last several years the Foundation has been focused on establishing the needs of school collision programs, from continuous education for instructors, tools and equipment to necessary to achieve accreditation by the National Automotive Technicians Education Foundation (NATEF), to consistency in their curriculum using I-CAR’s PDPEE for schools,” explained Pluciniski. “Working with over 500 of the 1100 schools teaching collision repair, last year we developed the Career Readiness Benchmark, tiering schools to pinpoint their current status toward achieving the top level, tier one status.  The top tiered schools differentiate themselves in that 63 percent of their students find their way into the industry and embrace higher levels of education versus the 20 percent that are not involved. Our research tells us that to move 300 schools to tier one status to meet the pre-employment training needs of the industry will cost $35 million over five years.”

The Foundation recognized the first 121 schools included in the Career Readiness Benchmark program in April. 

Plucinski continued, “Cutting Perkins Grant dollars is guaranteed to cause hardships for the schools, especially with diminished focus on CTE, the collision programs could be eliminated.  Since 2009, the number of high school and college collision repair programs has shrunk from 1454 to 1100 across the U.S.  Clearly, this is the time for the industry to take a more active role to partner with the schools, administration and the state and local legislators to show our support.”

“The Foundation, with strong industry support, can be the vehicle to not only influence the states and local schools boards, but to show through our rigor, our ability to not only save, but to improve the current status of their collision repair programs,” said Plucinski. “Over the last two years, using the theme of adopting a schools, the local I-CAR committees have raised millions of dollars to support their local high Schools and college collision repair programs.”

Plucinski is urging the industry to contact their legislators to ask for support of continued Perkins funding. “Please take the time to write your local politicians and help us with your generous donations,” concluded Plucinski.

Career and Technical Educator Concern

A joint statement from the Association for Career and Technical Education (ACTE) and Advance CTE raised concerns about the impact of the proposed cuts.

According to the statement by LeAnn Wilson, executive director of ACTE, and Kimberly Green, executive director of Advance CTE, “While the Trump Administration talks about supporting workforce and skills development, this dramatic cut is nothing short of an attack on CTE and the students and employers who benefit from it. At a time when millions of job openings go unfilled every year due to shortages in the skilled, technical workforce, President Trump should double-down on an investment in CTE, not propose drastic cuts.

 “This proposed $168 million cut from state grants for CTE significantly reduces states’ abilities to use these resources to improve and expand CTE programs based on their specific needs. It’s incredulous that an Administration that wishes to devolve authority to the states proposes to increase its own funding at the federal level by $20 million; this essentially equates to taking funds out of the pockets of states, colleges and schools to a create a new, untested program run by the Secretary of Education,” the statement continued. “As a businessman who has employed a range of employees – from engineers to computer programmers – the president is well-positioned to appreciate the importance of a skilled workforce that meets the demands of today’s economy. Unfortunately, this budget falls woefully short in its commitment to students, employers, and the next generation American workforce. We urge the President to review the far-reaching impact CTE has on all facets of the economy, and to make investing in CTE a priority.

ACTE has a web page set up where people concerned about the cuts can contact their legislators.

The post Career and Technical Education Faces Cuts in President’s FY18 Budget appeared first on CollisionWeek.

Service King Hired 250 Veterans through Mission 2 Hire Initiative

Industry News - Thu, 05/25/2017 - 10:15am

Service King Collision Repair Centers announced it eclipsed another milestone by surpassing 250 successful hires through its ongoing veterans initiative – Mission 2 Hire.

Mission 2 Hire is Service King’s official veterans outreach campaign actively recruiting and hiring U.S. Armed Forces veterans, military spouses and active duty personnel. The initiative continues to outpace its original goal of 500 hires in five years after launching in May 2015. Service King is currently more than six months ahead of schedule to meeting its goal and now officially beyond the halfway mark of completing its mission.

“Mission 2 Hire continues to be a

You need to be logged in to see this part of the content. Please Login to access.

The post Service King Hired 250 Veterans through Mission 2 Hire Initiative appeared first on CollisionWeek.

P.B.E. Jobbers Warehouse Adds Location in the Orlando

Industry News - Thu, 05/25/2017 - 10:06am

P.B.E. Jobbers Warehouse, Inc. (P.B.E.) announced that the grand opening of its newest location in Orlando, Fla. will be June 19. The new facility will be P.B.E.’s seventh. The new 39,000 sq. ft. facility is located at 11205 Satellite Blvd, and will serve distributors throughout the market.

“P.B.E.’s success can be attributed to the philosophy of providing legendary customer service and inventory that match our customers’ needs,” said Paul Monroe, President. “P.B.E.’s Customer Service Department sets us apart by putting our time-tested, specific product knowledge to work for you and your customers every day.  Our experience and industry insight mean

You need to be logged in to see this part of the content. Please Login to access.

The post P.B.E. Jobbers Warehouse Adds Location in the Orlando appeared first on CollisionWeek.

Collision Repair Labor Rates for Aluminum Show Wide Variation by Market in the U.S.

Industry News - Wed, 05/24/2017 - 11:00am
Our comparison of average steel body and structural labor rates to cosmetic aluminum and structural rates shows wide variations by Metropolitan Statistical Area.

As collision repair facilities have invested in aluminum repair capabilities, by far one of the most common questions we get from readers on both the repair and insurance side of the industry, is how aluminum labor rates compare to steel and how they vary across the U.S.

A key challenge for repairers is that estimating system have been challenged by the proliferation in materials and the need to charge and track for multiple rates based upon those

You need to be logged in to see this part of the content. Please Login to access.

The post Collision Repair Labor Rates for Aluminum Show Wide Variation by Market in the U.S. appeared first on CollisionWeek.

US Department of Labor Announces Insurance Claim Apprenticeship Program at The Hartford

Industry News - Wed, 05/24/2017 - 10:34am

The U.S. Department of Labor announced that The Hartford welcomed the first cohort of apprentices to its newly launched insurance apprenticeship program at a ceremony in Hartford, Conn.

Part of the U.S. Department of Labor’s ApprenticeshipUSA program, The Hartford is partnering with the Connecticut Department of Labor, Arizona Department of Economic Security, Capital Community College in Hartford and Rio Salado College in metro Phoenix to offer an insurance-specific curriculum, paid on-the-job training and mentoring to help students gain the skills needed to work in The Hartford’s claims operation.

U.S. Secretary of Labor Alexander Acosta and President Trump are committed to

You need to be logged in to see this part of the content. Please Login to access.

The post US Department of Labor Announces Insurance Claim Apprenticeship Program at The Hartford appeared first on CollisionWeek.

Australia’s Capital S.M.A.R.T. Adds Collision Repair Center in New South Wales

Industry News - Wed, 05/24/2017 - 10:30am

Capital S.M.A.R.T announced it our newest site in Ingleburn, New South Wales . The new site is the company’s 11th collision repair center  in New South Wales and over 40 locations in  Australia and New Zealand.

Group Operations Director of S.M.A.R.T, Jim Vais, stated that he was excited about the customer benefits that the new Ingleburn site will bring to the overall NSW operations and wider S.M.A.R.T group, and looked forward to the output that the team will generate under the leadership of the newly appointed Ingleburn Repair Centre Manager, Alan Hickey.

The new site is located at 1 Austool

You need to be logged in to see this part of the content. Please Login to access.

The post Australia’s Capital S.M.A.R.T. Adds Collision Repair Center in New South Wales appeared first on CollisionWeek.

ASA’s Connected CARS Provides High-Level Look at New Vehicle Technology

Industry News - Wed, 05/24/2017 - 10:24am

The Automotive Service Association (ASA) held its first Connected CARS event May 18-19 in Detroit. The event provided an in-depth look at the technical aspects of the Advanced Driver Assistance Systems (ADAS).

The event featured 108 attendees, including shop owners, technicians, educators, engineers and industry VIPs interested in rapidly evolving vehicle technology and testing. Trainers included:

  • Greg Potter, ETI, and Bob Gruszczynski, VW, scan-tool protocols
  • Mohan Sethi, Mahle Aftermarket, secure diagnostics
  • Debra Bezinna, Ann Arbor Connected Vehicle Test Environment, University of Michigan (interviewed by Robert L. Redding Jr., ASA’s Washington, D.C., representative), vehicle-to-vehicle communications
  • Dave Hobbs, Delphi, Radar, Lidar, Sonar
You need to be logged in to see this part of the content. Please Login to access.

The post ASA’s Connected CARS Provides High-Level Look at New Vehicle Technology appeared first on CollisionWeek.

Mike Black Named President and COO at Dent Wizard

Industry News - Wed, 05/24/2017 - 10:21am

Dent Wizard International announced the promotion of Mike Black to president, in addition to his current position as chief operating officer. Black replaces Terry Koebbe as president. Koebbe retains his position as chief executive officer.

Mike Black added the title of president to his current position as chief operating officer at Dent Wizard.

In this role, Black will have more comprehensive responsibility and authority over Dent Wizard’s domestic and international operations, and will take a more active role in new product development and geographic expansion.

 “Mike has done a phenomenal job as COO over the past six years,” said Koebbe.

You need to be logged in to see this part of the content. Please Login to access.

The post Mike Black Named President and COO at Dent Wizard appeared first on CollisionWeek.

Service King Acquires Collision Repair Center in Colorado

Industry News - Tue, 05/23/2017 - 10:18am
New location is Service King’s sixth in the state and its 324th in the U.S.

Service King Collision Repair Centers announced the acquisition of Wilson’s Auto Collision Inc., located at 4365 E. Platte Ave. in Colorado Springs, Colo. The facility is Service King’s sixth location in state. Wilson’s Auto Collision joins the Service King organization with 22-years of I-CAR Gold Class certification to its name.

“This is another proud moment for the Service King team as we continue to provide high-quality, consistent collision repair service to our Colorado customers and business partners,” said Clayton Geisendorff, Service King Director of Operations. “We

You need to be logged in to see this part of the content. Please Login to access.

The post Service King Acquires Collision Repair Center in Colorado appeared first on CollisionWeek.

Uni-Select Appoints Brent Windom President and COO of Canadian Automotive Group

Industry News - Tue, 05/23/2017 - 10:09am
Current president and COO Gary O’Connor will retire at the end of 2017.

Uni-Select Inc. (TSE:UNS) announced the appointment, effective July 3, of Brent Windom to the position of President and Chief Operating Officer, Canadian Automotive Group and the retirement of Gary O’Connor, President and Chief Operating Officer, Canadian Automotive Group, at the end of 2017.

Windom has 30 years of experience in the automotive aftermarket industry. During his career, he has held various leadership positions and served as President and Chief Operating Officer of Uni-Select USA, Inc. His previous experience includes the positions of Senior Vice President, Sales and

You need to be logged in to see this part of the content. Please Login to access.

The post Uni-Select Appoints Brent Windom President and COO of Canadian Automotive Group appeared first on CollisionWeek.

CARSTAR Adds Collision Repair Center to Network in Florida

Industry News - Tue, 05/23/2017 - 9:59am

CARSTAR Auto Body Repair Experts announced the opening of CARSTAR St. Petersburg Collision Center at 1819 11th Ave. North, St. Petersburg, Fla. CARSTAR St. Petersburg is locally owned and operated by Tampa-based Impact Auto Holdings II.

“We are thrilled to be opening a CARSTAR location in our local area,” said Scott Robertson, Vice President of Operations at Impact Auto Holdings II.  “Partnering with CARSTAR was an easy decision for us.  CARSTAR is not only a respected brand, but it makes the process seamless.  The networking, training and vendor partnerships they provide ensure we will provide quality repairs to customers by

You need to be logged in to see this part of the content. Please Login to access.

The post CARSTAR Adds Collision Repair Center to Network in Florida appeared first on CollisionWeek.

BASF Names VisionPLUS Performance Groups’ Collision Repair Shops of the Year

Industry News - Tue, 05/23/2017 - 9:56am

At the 2017 VisionPLUS Performance Group Business Conference held recently in Litchfield Park, AZ, BASF awarded  2016 Shop of the Year designations to seven collision repair shops. The winners were selected based on overall improvement and gross profit improvement from the previous year, along with excellent Performance Group preparedness and participation.

Performance Group winners were:

  • Wenzel’s Auto Body, Pocasset, Massachusetts – Group I
  • Marshall’s Auto Care, Billerica, Massachusetts – Group II
  • Frank’s Auto Body, Vernon, British Columbia – Group III
  • Herb’s Paint and Body, Richardson, Texas – Group IV
  • Quanz Auto Care, Albuquerque, New Mexico – Group V
  • Mercedes Benz
You need to be logged in to see this part of the content. Please Login to access.

The post BASF Names VisionPLUS Performance Groups’ Collision Repair Shops of the Year appeared first on CollisionWeek.

Women’s Industry Network Thanks Sponsors

Industry News - Tue, 05/23/2017 - 9:38am

The Women’s Industry Network (WIN) would like to thank all of the organizations that provided their generous support through sponsorships for 2017.  There are three categories of sponsorships:  Corporate Sponsors; MIW Sponsors; and WIN Educational Conference Sponsors.   Each sponsorship supports key initiatives for WIN throughout the year.

2017 sponsors include:

Platinum Sponsors ($25,000)

AkzoNobel

Gold Sponsors ($10,000)

Axalta Coating Systems

BASF

Enterprise Holdings, Inc. PPG Industries, Inc.

Silver Sponsors ($5,000)

3M

Allstate Insurance Company Audatex, a Solera company Caliber Collision

Gerber Collision & Glass

Insurance Auto Auctions, Inc. (IAA) Nationwide

Service King Collision Repair Centers

State Farm Insurance

Valspar Corporation

You need to be logged in to see this part of the content. Please Login to access.

The post Women’s Industry Network Thanks Sponsors appeared first on CollisionWeek.

Wholesale Used Vehicle Prices Up in April

Industry News - Mon, 05/22/2017 - 11:26am
According to ADESA Analytic Services report April prices were up both versus the previous month and previous year. Mid-size cars and SUV/CUVs see decreases.

According to the ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices, average wholesale prices in April were up on both a month-over-month and year-over-year basis.  As has been stated repeatedly in previous months, however, much of these supposed increases in used vehicle values are the result of strength in truck prices and growth in off-lease volumes.

An analysis of sales prices by sale type, model-year age, mileage and model class segment reveals that prices

You need to be logged in to see this part of the content. Please Login to access.

The post Wholesale Used Vehicle Prices Up in April appeared first on CollisionWeek.

Syndicate content