Entry into the largest auto insurance market in the U.S. marks the ninth state where vehicle manufacturer’s insurance product is available. Toyota Auto Insurance, the vehicle manufacturer’s branded insurance product, is now available to customers residing in California. Introduced to select markets in 2021, Toyota Auto Insurance offers customers quality, customizable coverage at affordable rates. […]
GEICO Reports Collision Claim Severity 7-8% Higher in First Quarter Compared to Last Year
Collision frequency was down for the quarter. Berkshire Hathaway reported its first quarter earnings, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. on May 6. The company reported claims frequencies in the first quarter of 2023 were lower for property damage (five to six percent range) […]
Crash Champions Founder & CEO Matt Ebert Named EY Entrepreneur Of The Year Midwest Finalist
Crash Champions announced that founder and CEO Matt Ebert has been named a finalist for the 2023 Ernst & Young (EY) Entrepreneur Of The Year Midwest Award. Now in its 37th year, the EY Entrepreneur Of The Year Award is one of the most competitive and esteemed recognitions, celebrating transformative leaders of high-growth companies building […]
Gary Ferrera Named Executive Vice President and Chief Financial Officer at Driven Brands
Driven Brands Holdings Inc. (NASDAQ:DRVN) announced that Gary W. Ferrera has been appointed Executive Vice President and Chief Financial Officer, effective May 10. Ferrera will report to President and Chief Executive Officer Jonathan Fitzpatrick and succeeds Tiffany Mason. “Gary is a proven leader who brings deep experience leading financial teams, a strong track record in […]
Allstate Reports Loss in First Quarter
Auto insurance written premiums increased over 10%. The Allstate Corporation (NYSE: ALL) total revenue of $13.8 billion in the first quarter of 2023 increased 11.8% compared to the prior year quarter driven by a 10.8% increase in Property-Liability earned premium and net gains on investments and derivatives in the first quarter of 2023 compared to […]
Driven Brands Reports Revenue Up 20% in First Quarter
Paint, collision repair and glass segment same store sales were up 14%. Driven Brands Holdings Inc. (NASDAQ:DRVN) reported revenue of $562.5 million for the first quarter ended April 1, up 20 percent versus the prior year. System-wide sales were $1.5 billion, up 19 percent versus the prior year driven by 9 percent same-store sales growth […]
AirPro Webinar Features IIHS Research on Consumer Experiences with Crash Avoidance Repairs
AirPro Diagnostics will host a webinar at 2 p.m. (EDT) May 17 featuring David Zuby, Executive Vice President and Chief Research Officer for the Insurance Institute for Highway Safety (IIHS), who will examine consumer experiences with crash avoidance feature repairs. In February, IIHS released the results of research showing seven out of ten consumers reported issues […]
ASE Announces New EV Standards and an EV Testing and Certification Program
The National Institute for Automotive Service (ASE) announced the creation of Electric Vehicle Technician/Shop Personnel Electrical Safety Standards. The purpose of the standards is to provide guidance, document, and establish electrical safety requirements, standards, procedures, and safe work practices relating to the development of an electrically safe working area for service professionals in North America […]
US Light Vehicle Market Heats Up in April with Robust Result Above Pre-Pandemic Levels
Sales up over 10% in April even with one fewer selling day compared to last year. US Light Vehicle sales totaled 1.36 million units in April, according to LMC Automotive, a GlobalData Company. This translates to a year-over year (YoY) gain of 10.2%, a result made all the more impressive by the fact that April […]
Uni-Select Reports First Quarter Sales Up Almost 10%
FinishMaster US segment was up 6.7%. Uni-Select Inc. today reported consolidated sales increased by $39.9 million or 9.7% to $449.5 million in the first quarter ended March 31. Excluding the impact of unfavorable fluctuation of the British pound and the Canadian dollar against the US dollar of $21.6 million or 5.3%, consolidated sales increased by […]
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