More than 82 companies, businesses and social organizations, including AkzoNobel (AMS: AKZA; OTCMKTS: AKZOY) are involved in a major Dutch research program focused on developing new technologies that will help solve some of today’s societal challenges. Seven broad consortia have been established as part of the government-funded “Perspectief” program, with AkzoNobel set to play a […]
Insurify Predicts Car Insurance Costs to Increase 7% to $2,160 in 2024
After a year of rate hikes in 2023, car insurance prices will continue to increase well into 2024 but at a slower pace than last year, according to Insurify’s latest Insuring the American Driver report. Data sourced directly from Insurify, America’s top-rated insurance comparison platform, showed the average cost for a full-coverage car insurance policy […]
Hertz to Reduce EV Fleet by 20,000 Vehicles on Soft Rental Demand and High Repair Costs
Hertz Global Holdings (NASDAQ: HTZ) announced today it will sell about 20,000 of the electric vehicles in its fleet. In an interview on CNBC today, Stephen Scherr, CEO of Hertz explained that the rental company was reducing its fleet due to lower demand for EV rentals and the higher costs associated with EV damage repairs. […]
Collision Repair Industry Production Down Slightly in November Compared to Last Year
Year-to-date production up over 7% as production employees and total employment reach new records. An analysis of the latest data released from the U.S. Department of Labor Bureau of Labor Statistics (BLS) covering the preliminary November collision repair employment, hours worked and wages indicated production was down on a year-over-year basis and from the previous […]
SATA Acquires Dan-Am Company
SATA GmbH & Co. KG announced that the acquisition of Dan-Am Company in Spring Valley, Minnesota by SATA USA Inc., its US-based subsidiary. “We are excited about this new chapter in the history of both Dan-Am and SATA. This acquisition will allow us to continue to provide our industry partners and customers in the USA […]
Safelite Group Acquires Auto Glass Company with 3 Locations in New England
Safelite Group announced the acquisition of the auto glass assets of New Hampshire-based Thompson Auto Glass. The transaction was completed on Friday, January 5. “Today is an exciting day in New England,” said Safelite’s President and CEO, Renee Cacchillo. “We’re privileged to be trusted with carrying on Thompson Auto Glass’s great local reputation for quality […]
Ford Pro Insure Expands Commercial Auto Insurance to Indiana and Wisconsin
Insurance joins vehicles, software, charging, service and financing in the suite of products and services available to Ford Pro customers. Ford Pro Insure commercial vehicle insurance is now available in Indiana and Wisconsin. With the addition of Indiana and Wisconsin, Ford Pro Insure is available in five states, including Arizona, Illinois and Tennessee “There are nearly […]
Record 1.2 Million EVs Were Sold in the U.S. in 2023
Tesla captured 55% of the U.S. EV market last year. A record 1.2 million U.S. vehicle buyers chose to go electric last year, according to estimates from Kelley Blue Book, a Cox Automotive company. More specifically, 1,189,051 new electric vehicles (EVs) were put into service as the slow shift to an electrified future continued unabated. […]
Used-Vehicle Values Fell Further in December
Values down 21% from all-time high reached in 2021. Following a downward trend that began in the second half of the year, 2023 ended with the Manheim Used Vehicle Value Index down 0.5% in December from November. The Manheim Used Vehicle Value Index (MUVVI) dropped to 204.0, down 7.0% from the previous year, a larger […]
Ford and I-CAR Announce 4 New Collision Repair Courses
The Inter-Industry Conference on Auto Collision Repair (I-CAR) has collaborated with Ford Motor Company to introduce four new collision repair courses. These online courses were designed in alignment with Ford repair procedures to equip repair professionals with the skills needed to maintain and repair the latest Ford vehicle models. The courses include: Ford 2023 Super […]
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