Automaker-sponsored affordability study ties premium growth in part to the cost of repairing ADAS-equipped vehicles. Vehicle insurance has become the fastest-growing cost of owning and operating a vehicle, driven in part by the higher cost of repairing technologically advanced vehicles, according to a white paper the Center for Automotive Research (CAR) published in October. The […]
Copart Completes $1.9 Billion Acquisition of ACV Auctions
ACV will operate as an independent Copart subsidiary under its existing leadership team. Copart, Inc. (NASDAQ: CPRT) has completed its acquisition of ACV Auctions Inc. for $10.50 per share in cash, closing the approximately $1.9 billion deal Oct. 15 after its tender offer expired with about 68.43% of ACV’s outstanding shares tendered. ACV’s stock has […]
Fix Auto UK Reaches 150 Repair Centers as Founding Franchise Partners Add Fifth Site
Stephen and Sam Smith, who joined the network in 2005, will convert a former cotton mill in Darwen, England, into Fix Auto Blackburn. Fix Auto UK has signed its 150th repair center, a former cotton mill in Darwen, England, that father-and-son franchise partners Stephen and Sam Smith will develop as their fifth location, Fix Auto […]
ADAS Assist Launches Calibration Verification Platform for Shops and Calibration Providers
ADAS Assist, an Omaha, Nebraska-based software company started by collision repair and calibration professionals, has launched a platform that reads a collision repair estimate, identifies the advanced driver assistance system (ADAS) calibrations the repair requires and links each result to the governing OEM procedure. The platform, announced Oct. 19, also includes a module for running […]
GM, Ford and Rivian Engineers to Close SCRS OEM Summit With Session on Restoring Vehicle Safety Systems
The Nov. 5 panel at the SEMA Show will examine sensors, calibration and how automakers turn engineering requirements into repair procedures. The Society of Collision Repair Specialists (SCRS) will close its 2026 OEM Collision Repair Technology Summit with a panel of General Motors, Ford Motor Company and Rivian engineers examining what it takes to restore […]
CCC Intelligent Solutions to Be Taken Private by GTCR, Elliott in $6.1 Billion Deal
Private equity firm and activist investor agree to buy the claims and repair software provider after a months-long sale process. CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCC) has agreed to be acquired by a consortium of private investment firms led by GTCR and including Elliott Investment Management L.P. in an all-cash transaction with an enterprise […]
Penske Corp. and Mitsui to Take Penske Automotive Group Private in $16.3 Billion Deal
Penske Automotive Group Inc. (NYSE: PAG) has agreed to be taken private by its two largest shareholders, Penske Corp. and Mitsui & Co. Ltd., which will pay $212 per share in cash for the stock they do not already own. The deal, announced Oct. 15, values the Bloomfield Hills, Michigan-based dealership group at an enterprise […]
AkzoNobel and Axalta Choose Axanzo as Name for Combined Company
AkzoNobel N.V. (AMS: AKZA; OTCMKTS: AKZOY) and Axalta Coating Systems Ltd. (NYSE: AXTA) will operate under the name Axanzo once their planned merger closes, the companies announced Oct. 15. The combined company expects to trade under the ticker symbol AXZ on the New York Stock Exchange and Euronext Amsterdam after closing. The companies said closing […]
Personal Auto Premium Volume Forecast to Decline in 2026
Personal auto insurance net written premiums are forecast to decline 0.6% in 2026, the line’s second-lowest annual growth rate in more than 15 years behind only 2020, according to the latest members-only Insurance Economics and Underwriting Projections: A Forward View webinar from the Insurance Information Institute (Triple-I) and Milliman. The 2026 forecast is 4.6 percentage […]
Progressive Reports Personal Auto Policies in Force Up 7.4% in September Compared to 2025
While up year-over-year, the personal auto policy count declined compared to the previous month for the first time since late 2023. The Progressive Corporation (NYSE: PGR) reported its total personal auto insurance policies in force were 28,195,000 in September 2026, an increase of 1,946,000, or 7.4%, from 26,249,000 in September 2025. September extended the moderation […]
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