The Inter-Industry Conference on Auto Collision Repair(I-CAR) announced that it has been awarded accreditation by the International Accreditors for Continuing Education and Training (IACET). I-CAR is now the first organization within the collision repair industry to achieve this accreditation. “I-CAR’s IACET accreditation is another symbol of our commitment to top-quality industry technical education and the […]
PartsTrader Launches SurePart Instant Parts Pricing Platform
PartsTrader today launched SurePart, their new instant parts pricing platform. “SurePart’s a real game changer. Inaccurate initial estimates have been a significant cost to the industry” SurePart allows appraisers to write more accurate estimates by providing instant market pricing and leveraging industry-leading filtering to remove invalid parts. The result is a more accurate estimate […]
U.S. Light Vehicle Sales Declined 22% in March Compared to Last Year
First quarter ends with 3.3 million units sold. LMC Automotive cuts annual forecast to 15.3 million in U.S. With inventories still at critically low levels, a strong 2021 base also contributed to a steep decline in Light Vehicle sales last month. March was the strongest month in 2021. US volumes fell by 22% from a […]
AAA Says Plan to Tap Strategic Petroleum Reserve Takes Pressure Off Gasoline Prices
President Biden’s announcement to release one million barrels of oil per day for six months (180 million barrels) from the Strategic Petroleum Reserve (SPR) helped send the global oil price tumbling to near $100 bbl. The release is intended to stem rising energy prices. The national average for a gallon of gas has fallen to […]
PPG Delivers 1,000th MoonWalk Automotive Refinish Mixing System
PPG (NYSE:PPG) announced that it has completed the 1,000th installation of its PPG MoonWalk automated refinish paint mixing system. The installation at Group Perez Rumbao’s facility in Vigo, Spain, was celebrated at a special event attended by representatives of both companies. The PPG MoonWalk system saves labor, reduces waste and transforms the refinish mixing room […]
Amica Mutual Insurance CEO DiMuccio to Retire at End of 2022
Amica Mutual Insurance Company’s Board of Directors announced that Robert A. “Bob” DiMuccio, Chairman, President and Chief Executive Officer, plans to retire at the end of 2022, following 31 years of distinguished service to the Company, including 17 as CEO. Amica is the 23rd largest private passenger auto insurer in the U.S. With the benefit […]
US Department of Transportation Sets 49 MPG Fuel Economy Standard for 2026 MY Vehicles
The U.S. Department of Transportation’s National Highway Traffic Safety Administration announced new, Corporate Average Fuel Economy standards that require an industry-wide fleet average of approximately 49 mpg for passenger cars and light trucks in model year 2026, the highest fuel efficiency standards to date. The new standards will increase fuel efficiency 8% annually for model […]
Top 10 U.S. Auto Insurers Had Over 75% Market Share in 2021
NAIC reports auto insurance premiums earned up over 3% in 2021. Total direct premiums earned on private passenger auto insurance were $257.7 billion in the U.S. in 2021, up over $7 billion, or 3.1% from $250 billion in 2020 according to final data released March 28 by the National Association of Insurance Commissioners (NAIC). The […]
Penske Automotive Group Acquires Three BMW MINI Dealerships and a Collison Repair Center in the UK
Penske Automotive Group, Inc. (NYSE:PAG) today announced that its U.K. subsidiary, the Sytner Group, has acquired three BMW MINI dealerships and a collision repair center in the U.K. The acquired dealerships are located in South East England, north of London, complementing the existing presence of 32 BMW MINI franchises operated by the company in the […]
Olympus Partners Acquires Omega Environmental Technologies
Olympus Partners, a Stamford, Conn. based private equity firm, has acquired Omega Environmental Technologies, the aftermarket distributor of climate control products and other components across the light and heavy-duty automotive sectors, from AEA Investors, which will remain a minority equity investor and retain a board position in the Company. Omega serves thousands of customers globally […]
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