Annual sales volume of 13.7 million units in 2022 is the worst performance since 2011. US Light Vehicle sales totaled 1.28 million units in December, according to LMC Automotive, a GlobalData Company. This translates to a year-over-year (YoY) gain of 7.2%, with the same number of selling days as in December 2021. However, the results […]
Archives for 2023
Northeast Trade Show Recognized by Trade Show Executive Magazine
The Alliance of Automotive Service Providers of New Jersey’s (AASP/NJ) flagship event, the NORTHEAST Automotive Services Show, has been named to the prestigious Top 100 Trade Shows in the US list by Trade Show Executive magazine. More information and free attendee pre-registration for the Northeast Trade Show is available online. Trade Show Executive magazine’s Gold […]
Meyer Distributing Expands Warehouses in Colorado, Pennsylvania and Texas
Meyer Distributing, Inc. announced the addition of three new warehouses. Carlisle, Pa. at 205,090 sq. ft. will service the Northeast. Coppell, Texas at 165,105 will be an expansion to Meyer’s existing Texas warehouses bringing the total square footage to 650,000 sq. ft. servicing the region. Denver, Colo. at 88,771 sq. ft. brings the regional total […]
FTC Proposes Rule to Ban Employee Noncompete Clauses
The Federal Trade Commission proposed a new rule that would ban employers from imposing noncompetes on their workers, a practice that the Commission states is widespread and often exploitative that suppresses wages, hampers innovation, and blocks entrepreneurs from starting new businesses. By stopping this practice, the agency estimates that the new proposed rule could increase […]
Bill Davidson Named Chief Human Resources Officer at Crash Champions
Crash Champions today announced Bill Davidson has joined the senior leadership team as Chief Human Resources Officer. Davidson joins Crash Champions after serving as Senior Vice President and Chief People Officer at Insurance Auto Auctions (IAA), (NSYE: IAA). “Welcoming Bill to our senior leadership team is a tremendous addition for Crash Champions as we continue […]
Easing Inflation Pressures Lifted Consumer Sentiment in December
While up, sentiment remains at levels near the lows of the early 1980s. Consumer sentiment rose 5% in December, recovering the declines from November, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index rose to 59.7 in the December 2022 survey, up from 56.8 in November and below last December’s 70.6. […]
Carousel Motor Group Enters Wisconsin Market with Hudson Ford Acquisition
Carousel Motor Group announced today that it has acquired Hudson Ford, the number one selling Ford dealership in Wisconsin for the last 5 years. The acquisition of the Hudson Ford dealership, located at 2020 Crest View Drive, in Hudson, Wisc., near I-94 and Carmichael Road, marks Carousel Motor Group’s first Ford dealership in its portfolio […]
Ritchie Bros. and IAA Receive Regulatory Clearances for Proposed Merger
Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSE: RBA) and IAA, Inc. (NYSE: IAA), announced December 20 the expiration of the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976 and receipt of a no-action letter from the Canadian Commissioner of Competition with respect to the pending acquisition of IAA by Ritchie Bros. The […]
Root Insurance Investigating $9.5 Million in Marketing Payments by Former Employee
In a filing with the Securities and Exchange Commission, Root Inc. (NASDAQ: ROOT), the parent company of Root Insurance, announced the Audit, Risk and Finance Committee of its Board of Directors has engaged outside counsel to conduct an internal investigation into a series of marketing services transactions that a former senior marketing employee entered into […]
Allstate Announces Net Zero Emissions Commitment
The Allstate Corporation (NYSE:ALL) announced it has committed to achieve net zero emissions for direct, indirect and value-chain greenhouse gas emissions by 2030. It will also set a target year for achieving a net zero investment portfolio by the end of 2025. The pledge by Allstate, the fourth largest private passenger auto insurer in the […]