3M (NYSE: MMM) today reported second-quarter 2020 results sales of $7.2 billion, down 12.2% compared to last year. Organic local-currency sales declined 13.1 percent, while acquisitions, net of divestitures, increased sales by 2.4 percent. Foreign currency translation reduced sales by 1.5 percent year-on-year. The company noted improving sales trends with July month-to-date sales up low-single […]
Average Age of Cars and Light Trucks in the U.S. Near 12 Years
New research from IHS Markit (NYSE:INFO) shows that the average age of light vehicles in operation (VIO) in the US has risen to 11.9 years this year, about one month older than in 2019. Though slight, the increase can generate new business opportunities for companies operating in the aftermarket and vehicle servicing sector in the […]
CIECA August 11 Webinar Examines OEM Certification Programs
The Collision Industry Electronic Commerce Association (CIECA) announced today that Connor Smith, senior manager of OEM for CARSTAR, will present during the next CIECAST webinar. Smith will discuss “The Importance of OEM Certifications,” on Tuesday, August 11, at 12 p.m. EDT. All industry segments, including CIECA members and non-members, are invited to attend. Registration for […]
Woodland Capital Holdings Acquires The Doan Group
National appraisal company acquired by investment group owned by the Davis Family, founders and owners of SCA Appraisal. The Doan Group, the 40 year old auto, property and heavy equipment appraisal firm, has been acquired by Woodland Capital Holdings. “The Doan Group has a well-established franchise network, dedicated people, efficient systems, and a solid brand […]
LexisNexis Launches Telematics OnDemand with Root Insurance
LexisNexis Risk Solutions launched LexisNexis Telematics OnDemand, a solution that seamlessly integrates telematics-based driving behavior data into insurer rating and underwriting workflows. Root Insurance is the first to adopt Telematics OnDemand. The solution enables U.S. auto insurers to access a consumer’s existing telematics data in near-real time at point of quote in order to more […]
Nick Daurio Nominated to Join Automotive Recyclers Association Executive Committee
The Automotive Recyclers Association (ARA) announced that professional automotive recycler Nick Daurio of Daurio Auto Truck Inc. in Pueblo, Colo. has been nominated to join the Association Executive Committee as Secretary for 2020-2021. “It is my extreme pleasure to be nominated to serve ARA as incoming Secretary,” said Daurio. “I am very humbled and honored […]
ASE to Offer Enhanced myASE Portal on August 10
Existing portal will be closed July 31 for updates. ASE will be deploying an updated myASE portal for test registering, scheduling and viewing technician information. The portal will be more intuitive and improve the level of service ASE provides. The current portal will be closed end of day July 31. Between August 1 and August […]
Claim Genius Raises $5.5 Million in Series A Funding
Claim Genius, a provider of instant vehicle damage assessment solutions using computer vision and artificial intelligence (AI) technology, announced the closing of its $5.5 million Series A funding round, following its earlier $2.3 million seed round in 2018. The latest round is backed by a diversified mix of strategic investors including Malaysia-based Financial Link, a […]
PSA Aftermarket Acquires Amanhã Global to Enter Used Parts Market
PSA Aftermarket, part of Peugeot S.A. (Group PSA), announced it has acquired a majority stake in Amanhã Global, the Porto, Portugal-based company and its e-commerce platform B-Parts.com for used parts. The acquisition aims to complete PSA Aftermarket’s conquest strategy in the circular economy, promoting recycled parts, providing repair parts needed to fix broken components, and […]
Steve Field New Chairman of UK’s NBRA
The UK’s National Body Repair Association (NBRA) announced Steve Field as its new chairman, replacing Roger Collings, who stepped down some months ago. Field is the CEO of Page Automotive Group and has been involved in the repair industry for 40 years. NBRA director Chris Weeks said, “I would like to welcome Steve into the […]
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