Scholarship through its SEMA Memorial Scholarship Fund to help 104 individuals pursuing a career in the automotive aftermarket industry. The winners include 87 students who received scholarships ranging from $1,000 to $5,000 and 17 employees of SEMA-member companies who received loan forgiveness awards to help pay off student loans. “SEMA receives a large number of […]
Wholesale Used-Vehicle Prices See Smaller Decline in July
Prices were down over 11% year-over-year. Wholesale used-vehicle prices on a mix, mileage, and seasonally adjusted basis decreased 1.6% in July from June. The Manheim Used Vehicle Value Index (MUVVI) declined to 211.7, down 11.6% from a year ago. Lower used vehicle prices increase pressure on the number of total losses impacting the collision repair […]
Kemper Exiting Preferred Auto Insurance Business
The Kemper Corporation (NYSE:KMPR) announced that it is exiting the preferred home and auto insurance market, sold through its Kemper Personal Insurance brand, and will actively reduce the business immediately, with all policies being non-renewed or canceled in accordance with applicable state regulations. Kemper was the 11th largest private passenger auto insurer in the U.S. […]
Stellantis Announces New Aftermarket Parts Brand in North America
Stellantis announced a new competitively priced, private-label replacement parts brand- bproauto. The new parts line is designed to enhance and expand its replacement parts and service business in North America. The new brand complements Mopar, the company’s global original-equipment parts and authentic accessories brand for Stellantis. The launch of bproauto helps address a key pillar […]
Former Massachusetts Auto Glass Employee Charged with Alleged Embezzlement of More Than $1.3 Million
Holbrook, Mass. Police Department Chief William Smith reported the arrest and charging of a former employee of a local auto glass business after an extensive investigation showed that she had allegedly embezzled more than $1.3 million from the business. Ashley Sumner of Weymouth, Mass. was charged with: Larceny Over $1,200 (Felony) Improper Use of a […]
ASA August 30 Webinar Will Examine New Ways to Find Future Techs for Your Shop
The Automotive Service Association (ASA) announced it will hold a webinar August 30 at 1 p.m. (EDT) featuring Jennifer Maher, Executive Director of TechForce Foundation. The topic for the webinar is New Ways to Find Future Techs for Your Shop. Registration for the webinar is available online. The TechForce Foundation mission is to champion all […]
GEICO Reports Collision Claims Severity 7-9% Higher in First Half of 2023 Compared to Last Year
Frequency was down for first half. Policies in force down 14.4% as company reduces advertising and focuses on profitability. Berkshire Hathaway reported its second quarter earnings, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. on August 5. GEICO’s pre-tax underwriting earnings in the first six months of […]
Auto Club of Southern California Acquires US Subsidiary of Wawanesa Mutual
The Wawanesa Mutual Insurance Company announced August 1 that it has entered into a definitive agreement to sell Wawanesa General Insurance Company, its U.S. subsidiary, to the Automobile Club of Southern California’s affiliated insurer, subject to regulatory approval and other customary closing conditions. “It’s the right time to focus our efforts on our home market […]
Crash Champions Acquires Collision Repair Center in Hollywood, Florida
Crash Champions today announced that the company has expanded its Florida footprint with the successful acquisition of Ideal Auto Collision, a more than 17,500 sq. ft. collision repair facility that has been serving Hollywood, Fla. for more than four decades. The acquisition officially closed on Friday, August 4, with operations transitioning to Crash Champions effective […]
PPG Inaugurates Automotive Color Development Center in Italy
Innovative facility uses AI tools for color development and quality control. PPG (NYSE:PPG) announced that it has inaugurated a center of excellence at its Quattordio, Italy site that will increase the efficiency for automotive color development and application. The $2.6 million (€2.3 million) investment combines color development and application in a single process, reducing the […]
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