New platform by Ontario woman looks to help those feeling overcharged by mechanics siro, 03/09/2024 Finding a trustworthy mechanic that won’t oversell or overcharge you can be a challenge for anyone, but a Waterloo, Ont., woman has launched a new service designed to help women with the challenge. AutoCate is a new platform which has been launched by University of Waterloo graduate and former auto mechanic Stefanie Bruinsma. Bruinsma says women can be charged up to 30 per cent more for auto repairs than men and she believes her service can help anyone who fears being taken advantage of at the mechanic to get a fair price. There have been a number of studies done over the years that go back to her claims, including a recent one which found that women in the US were paying more than $100 extra for car repairs. For Bruinsma, AutoCate is somewhat of a passion project as his love of cars began with the introduction of the Dodge Viper when he was 12 years old. Story continues below advertisement “It was a crazy idea. “A giant truck engine in a frame of a car that doesn’t handle very well,” Bruinsma explained. “I thought this was the most amazing thing ever and was like, I want to be an … Continue Reading
Auto Insurance Costs Climb Due to EVs, ADAS, and Advanced Materials siro, 14/08/2024 Join us… Headlines are screaming about auto insurance increases this year. For example, CNBC reports that auto insurance costs rise by 26% on average in 2024. While inflation is playing a major role, there are many other factors at work that are causing increases in costs on the auto insurance and repair side of the business. Opus IVS is a company that helps shops repair complex vehicles. Its areas of expertise include advanced automotive technology such as Advanced Driver Assistance Systems (ADAS), driver autonomy systems, electric vehicles, telematics, and flash programming. We communicated with Opus IVS CEO Brian Herron, and asked what he felt was the leading cost driver for increases in automotive repair. “ADAS (advanced driver assistance systems) is the driver of the increased repair costs,” said Mr. Herron. Examples of ADAS include Tesla Full Self Driving (FSD), Tesla Autopilot, GM Super Cruise, and Ford’s BlueCruise. While our initial inquiry to Mr. Herron was along the line of how EVs may be driving costs increase in vehicle repairability, he sees the issue in a different light. He told us that “ADAS is more of an ‘end of the world’ issue right now because 100% of vehicles or nearly 100% … Continue Reading
Cox Automotive: Independent repairers gaining market share siro, 20/07/2024 General repair shops are increasingly gaining market share compared to dealership shops in the US, according to Cox Automotive research. In its report, “Under the Hood: Opportunities and Challenges in the Service Industry,” Cox Automotive says franchised dealerships are still the No. 1 preferred service provider, but have lost ground to service chains, such as quick lube locations and tire service centers. During the second half of 2023, Cox Automotive surveyed 2,493 vehicle owners, including 182 electric vehicle (EV) owners, who had at least one vehicle service performed in the past year. Employees with decision-making authority over fixed operations at 525 franchised dealers were also interviewed for the research. Dealership service accounted for 30% of all service visits in the US this year, down from 35% in 2021 (the last time the service study was released). General repair and service stations were a close second this year at 28%. The last 42% are made up of tire repair shops, body shops, and specialists. With inflation still elevated in the US economy, automotive care and service costs have increased by 45% on average per service visit since 2021, according to Cox Automotive. That amount includes warranty costs, however, so the higher … Continue Reading
Straightaway Tire & Auto Acquires 2 Repair Shops in Minnesota siro, 07/07/2024 Accurate Auto & Tire Service and Wayne’s Automotive have a combined experience of more than 60 years in the industry. Straightaway Tire & Auto expanded its reach in Minnesota by acquiring Accurate Auto & Tire Service and Wayne’s Automotivefacilitated by O2 Investment Partnerswhich announced the move. “We’re very excited to welcome the teams at Accurate Auto and Wayne’s to the Straightaway family,” said Jeff Matt, division president of Straightaway. “They have each earned loyal customer bases over their decades in operation, and we look forward to working together to uphold their reputations for great customer experience.” The two well-established businesses have a combined experience of more than 60 years in the automotive repair industry. Accurate Auto has been a cornerstone in the Maple Grove, MN, market for over 25 years, offering comprehensive auto repair services. Similarly, Wayne’s Automotive, with more than 35 years of operation, has been a key player in the Grand Rapids, MN, market. “The addition of Accurate Auto and Wayne’s will further strengthen Straightaway’s already robust presence in Minnesota,” said Joe Vallee of O2 Investment Partners. “Furthermore, the transactions highlight our commitment to support Straightaway’s continued expansion by leveraging platform-wide resources to drive localized … Continue Reading