While the Manheim Used Vehicle Value Index was flat compared to December, January Index was down over 9% year-over-year. Wholesale used-vehicle prices on a mix, mileage, and seasonally adjusted basis were unchanged in January compared to December. The Manheim Used Vehicle Value Index (MUVVI) remained at 204.0 but down 9.2% from a year ago. The […]
AASP/NJ to Award $5,000 in Northeast Dollars to Trade Show Attendees
The Alliance of Automotive Service Providers of New Jersey’s (AASP/NJ) announced that 10 lucky NORTHEAST Automotive Services Show attendees will walk away as winners the association once again plans to award a total of $5,000 – $500 to 10 randomly chosen attendees the March 15-17 being held at the Meadowlands Exposition Center (MEC) in Secaucus, […]
U.S. Department of Transportation Urges Protection for Truckers Against Predatory Towing Fees
The U.S. Department of Transportation Federal Motor Carrier Safety Administration (FMCSA) expressed strong support for trucker protections against predatory towing fees in a comment filed on the Federal Trade Commission’s (FTC) proposed rule banning junk fees. FMCSA’s comment outlines concerns with predatory towing junk fee practices that significantly increase costs for commercial motor vehicle owners […]
NCOIL Supports Effort to Inspire Young Professionals to Choose a Career in Insurance
As February marks the eighth annual Insurance Careers Month, the National Council of Insurance Legislators (NCOIL) is proud to join the Insurance Careers Movement (ICM) in highlighting the many important and fulfilling career opportunities the insurance industry has to offer. The ICM is a global network of more than 1,000 insurance carriers, agents, trade associations, […]
Vehicle Dependability Rate of Deterioration Increases
J.D. Power study finds consumers increasingly report annoyance with driver assistance systems, problems with electric vehicles and infotainment features. Vehicle owners are experiencing lower levels of vehicle dependability after three years of ownership, according to the J.D. Power 2024 U.S. Vehicle Dependability Study (VDS). The high number of problems owners encounter indicates a decline in […]
Car ADAS Solutions Announces New Location in Florida
Car ADAS Solutions announced the addition of ADAS Calibrations of Florida. Owned by Bea Bruno, the company recently opened a location in Rivera Beach, Fla., on November 5, 2023 and a second facility is being constructed in Kissimmee. The company’s territory extends from Orlando to North Fort Lauderdale. Plans include opening four additional locations by […]
Canadian Collision Industry Forum Appoints New Steering Committee Members
The Canadian Collision Industry Forum (CCIF) announced the newest members to its Steering Committee. The Steering Committee is responsible for guiding priority areas to ensure that CCIF events continue to be a success. With the goal of representing the collision industry as a whole, members of the committee are chosen from different sectors and serve […]
Simon Zhang Named Chief Data Analytics Officer at Mercury Insurance
Mercury Insurance (NYSE: MCY), a leading provider of property and casualty insurance, has appointed Simon Zhang to the newly-created position of Chief Data and Analytics Officer. The hire continues Mercury’s ongoing effort to utilize advanced data analytics to drive business growth, elevate the carrier’s product offerings, and better meet the needs of its policyholders. “This […]
Collision Claims and Losses in Third Quarter Down Compared to 2022
Quarterly claims were down for the second quarter in a row. The latest available Fast Track Monitoring system data from the Independent Statistical Service Inc. (ISS) showed that the post-pandemic rebound in claims is over as claims on a quarterly basis were down for two consecutive quarters compared to the previous year. Losses were also […]
Axalta Reports Net Sales Up 6.1% in 2023
Fourth quarter net sales up 4.9%. Axalta Coating Systems Ltd. (NYSE:AXTA) announced its fourth quarter net sales increased 4.9% year-over-year to $1.3 billion. The increase in net sales was driven by a 2.3% foreign exchange benefit, 1.7% improvement in volumes, and 0.9% price-mix growth. Net income increased 68% year-over-year to $74 million versus $44 million […]
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