Fenix announces acquisition of Illinois auto recycler. Stellex Capital Management, the private equity firm, announced the final closing of a single-asset continuation vehicle that has acquired interests in Fenix Parts. The transaction provides follow-on capital with the aim of driving organic growth initiatives, supporting the continued execution of Fenix Parts’ aquisition pipeline, and capitalizing on […]
Penske Automotive Expands into Australia
Penske Automotive Group, Inc. (NYSE: PAG), the automotive and commercial truck retailers with operations across four continents and nine countries, intends to expand its retail automotive operations into Australia by acquiring two Porsche dealerships along with a Ducati motorcycle dealership in Melbourne, Australia. The Company has signed an agreement to acquire Porsche Centre Brighton, Porsche […]
I-CAR CEO & President John Van Alstyne to Retire in 2025
John Van Alstyne, I-CAR’s CEO & President, announced his intention to retire at the end of 2025. The I-CAR Board has identified a Selection Committee dedicated to hiring a successor who will continue to uphold I-CAR’s values, drive innovation, and lead the organization into its next chapter of growth. Since joining I-CAR in December 2010, […]
Pennsylvania Issues Guidance On Insurers’ Use Of Artificial Intelligence
The Pennsylvania Insurance Department (PID) is the latest state to announce guidance for insurers on the use of Artificial Intelligence (AI). On April 6, the Department issued Notice 2024-04, which includes recommended best practices for how insurers obtain, develop and use certain AI technologies and systems, and advises insurers on what information PID may request […]
April 25 CIECA Technical Webinar Examines New API Standards
The Collision Industry Electronic Commerce Association (CIECA) announced that the next CIECA Technical Webinar will be held on Thursday, April 25 at 2 p.m. (EDT) to discuss CIECA’s new standards—CIECA API Standards (CAPIS). Registration to attend the webinar is open to non-members of CIECA as well as members. The following will be shared during the […]
McGovern Auto Group Opens 75,000 Square Foot Collision Repair Center in Massachusetts
New facility represents multimillion dollar investment in dealership group’s collision repair business. The McGovern Auto Group (MAG) announced the grand opening of the MAG Collision Center. McGovern’s new flagship body shop located at 420 Boston Turnpike in Shrewsbury, Mass. The 75,000 square foot facility has 40 repair bays. According to the company, the new facility […]
Wholesale Used-Vehicle Prices Down in March
Seasonally adjusted wholesale prices declined on both a month-over-month and year-over-year basis. Wholesale used-vehicle prices on a mix, mileage, and seasonally adjusted basis were down in March compared to February. The Manheim Used Vehicle Value Index (MUVVI) fell to 203.1, a decline of 14.7% from a year ago. The decline in the index was driven […]
Crash Champions Acquires Collision Repair Center in Tampa, Florida Market
Crash Champions announced the acquisition of Buddy Foster Collision and Towing in Zephyrhills, Florida. Buddy Foster Collison and Towing is transferring operations to Crash Champions effective immediately. “Crash Champions is proud to continue growing our service across the state of Florida and the greater Tampa market,” said Matt Ebert, Crash Champions Founder and CEO. “This […]
ASE Education Foundation Seeking Nominations for 2024 Byrl Shoemaker Instructor of the Year Award
Applications are now being accepted for the 2024 Byrl Shoemaker/ASE Education Foundation Instructor of the Year. The award recognizes a high school or college instructor from an ASE accredited automotive, diesel/truck or collision repair program who demonstrates excellence through their personal dedication and commitment to the young men and women who have chosen to pursue […]
CCC Sets Vision to Make Life Just Work for Customers and Millions of Consumers Involved in Auto Claims and Collision Repairs
CCC Intelligent Solutions (NASDAQ: CCCS) announced its technology-backed vision to power the next evolution of the industry, shaping a world where Life Just Works for customers and the millions of their consumers involved in auto claims and repairs each year. CCC is an industry and technology leader with an unmatched history of innovating with and […]
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