Investing in Quality Auto Glass Restores Your Vehicle’s Value

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Just like dents and dings happen on the doors, hood, and body of your vehicle, mishaps also affect the auto glass. Damaged auto glass detracts from the vehicle’s aesthetic appeal, and it also impacts safety while driving. If you plan to sell your vehicle, investing in quality auto glass restores its value in several key ways. What Dealers Consider When Valuing Your Vehicle No matter whether you engage in a private sale or you plan to sell your vehicle to a used car dealer, several factors go into its value. According to Consumer Reports, fixing auto glass defects helps restore…
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Snap-on (SNA) Q2 Earnings & Sales Surpass Estimates, Rise Y/Y

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Snap-on Inc. SNA reported second-quarter 2023 results, wherein both earnings and revenues beat the Zacks Consensus Estimate. Moreover, sales and earnings advanced year over year. Results have benefited from continued positive business momentum and contributions from its Value Creation plan. Shares of this Zacks Rank #2 (Buy) company have gained 13.7% in the past three months compared with the industry’s 7.5% growth. Q2 Highlights Snap-on’s earnings of $4.89 per share in second-quarter 2023 surpassed the Zacks Consensus Estimate of $4.53. The figure also improved by 14.5% from earnings of $4.27 reported in the prior-year quarter. Net sales grew 4.8% year…
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Toyota’s factory-installed accessories push could cost dealers

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Toyota has been focusing on its accessories/customization business since 2017 and has seen those revenues more than double in that period, said Chris Nielsen, executive vice president of product support and chief quality officer for Toyota Motor North America. “I think we realized that we really weren’t doing everything we could to support the customers” and their desires for customization before the push began, Nielsen explained. “Most of the accessories that we develop are sold as dealer-installed options or were things that we would add to the vehicle, sometimes removing the OE parts and adding accessory parts at the end…
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Magna to build three plants to supply Ford Blue Oval City

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Magna’s project is the latest example of a major supplier investing to alter its manufacturing footprint with an eye toward winning EV-related businesses as the industry’s electrification push continues. This is the third significant investment Magna has made in its battery enclosure manufacturing footprint in the past year. In that time, the company also committed about $700 million to build or expand battery enclosure plants in Michigan and Ontario, the latter of which supplies Ford for F-150 Lightning production. Battery enclosures are a significant “target area” for Magna as it positions itself for EV production in the coming years, said…
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Automakers agree to right-to-repair deal covering telematics data

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Under the new deal, the groups said independent repair shops will continue to have access to the same diagnostic and repair information automakers make available to their authorized dealer networks even as technology evolves. That access also applies to telematics data needed to diagnose and repair a vehicle, if not otherwise available. It also covers all vehicle technologies and powertrains, including battery-electric, plug-in hybrid and fuel cell vehicles. The parties also have pledged to work together on education and training, with additional resources available to independent repair shops such as through an automaker’s repair website or via third-party information providers,…
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When will car prices drop?

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If you’re like many would-be vehicle shoppers, you may be wondering when prices will finally drop. For the past two years, the high cost of new and used vehicles has repelled many Canadians who may have otherwise considered trading their vehicle in or buying a new one. The good news is that the vehicle market seems to be finally stabilizing, which means that the cost of used and new vehicles could drop significantly in the coming months. Today, I’ll explain why vehicle prices might drop and outline some driving forces behind the current cost of vehicles in Canada. THE DRIVING…
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Stellantis releases details of the STLA Medium EV platform

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Stellantis’ STLA Medium platform will underpin at least 2 million EVs a year and offer a range of up to 700 km (435 miles) on vehicles starting with the Peugeot 3008 SUV by the end of this year. The platform — which Stellantis says is “BEV by design” — is one of four electric architectures that Stellantis announced in 2021 when the group was formed after the merger of PSA and Fiat Chrysler Automobiles. The others are STLA Small, STLA Large and STLA Frame. Stellantis released the first details of STLA Medium on Wednesday, with executives emphasizing that it is…
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EV, battery plants flock to the South without consumer incentives

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South Carolina, which has received $10 billion in EV investment from Volkswagen, BMW, Mercedes-Benz and others, and Kentucky, which has received $10 billion in EV investments from Ford, SK On and AESC, fell below the level required to be included in the ranking. South Carolina earned 14 of the 100 points available. Kentucky earned 5.5. California, at the top of the list, earned 88. “I definitely think that the southern states, or the states that are receiving a lot of this new investment, are missing out,” Huether said. “It would be great if the drivers in those states could actually…
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