A new collision-repair report from the KPMG U.S. Manufacturing Institute Automotive Center warns profits are going to plunge. It predicts the rise of autonomous vehicles will shrink original equipment manufacturer (OEM) collision-repair profits 48% by 2030. Collision parts business will also take a hit because of self-driving cars, according to the report. KPMG projects OEM collision-repair revenue could drop from US$5.6 billion in 2015 to US$2.7 billion by 2030, and dwindle to US$1.4 billion by 2040.
Quebec facility gets a facelift
Wakefield Canada — which manufacturers Castrol lubricants in this country — has made a major investment in its Laval, Que., distribution centre.