Generous incentives and Memorial Day weekend sales expected to boost new vehicle sales in Edmunds Forecast. The car shopping experts at Edmunds say that generous financing offers and incentives during Memorial Day weekend helped give the auto industry a much-needed boost in May, forecasting that 1,074,542 new cars and trucks will be sold in the […]
Uni-Select Completes Refinancing with New $565 Million Credit Facilities
Uni-Select Inc. (TSE:UNS), the parent of FinishMaster, today announced that it has successfully secured new credit facilities providing access to additional liquidity on more flexible financial terms and conditions. The new $565 million secured credit facilities, which will mature on June 30, 2023, consist of a $350 million revolving credit facility and $215 million term […]
Consumer Confidence Up Slightly in May After Record Decline in April
Consumers expect the economy to improve but remain distressed. Following April’s record one-month decline, consumer confidence inched upward in May by an insignificant amount, according to the University of Michigan Surveys of Consumers. The Sentiment Index fell 27.7% below last May’s level, with the falloff in evaluations of current conditions and future prospects posting declines […]
NHTSA Issues Warning on Recalled Harbor Freight Jack Stands
Harbor Freight Tools is recalling more than 1.7 million Pittsburgh Automotive 3 Ton and 6 Ton Heavy Duty Steel Jack Stands. The jack stands may collapse under load, which can increase the risk of injury to people near or under a lifted vehicle. Owners of these jack stands are asked to immediately discontinue use due […]
Toyota and Lexus Employees Team Up for Virtual Food Drive
As the world grapples with the coronavirus pandemic, Toyota and Lexus employees didn’t let the stay-at-home orders stop them from giving back to the communities in which they serve. Employees unleashed their creativity and tapped other colleagues to execute an unprecedented initiative: a virtual food drive. How, though, to get around the basic fact that […]
Doug Middleton, Longtime I-CAR Staff Member and Volunteer, Passes Away Aged 97
World War II Navy vet, who had long career in the auto insurance industry, supported industry training activities into his 90s. Lemuel Douglas “Doug” Middleton, a long-time staff member and volunteer at the Inter-Industry Conference on Auto Collision Repair (I-CAR), passed away May 19 at the age of 97. Middleton was born January 27, 1923 […]
Universal Technical Institute Students Receive Higher Education Emergency Relief Fund CARES Act Grants
Funding will help more than 10,000 students impacted by the COVID-19 crisis. Universal Technical Institute (NYSE:UTI) announced it started distributing $17.6 million in Higher Education Emergency Relief Fund (HEERF) CARES Act stimulus grants to more than 10,000 students training for careers as technicians, welders and computer numerical control (CNC) machinists. The cash grants help students […]
Axalta Launches Color Retrieval Software Enhancement with 3D Modeling
Axalta Coating Systems (NYSE:AXTA) announced the launch of Advanced Color Proofing, the latest enhancement to their proprietary color retrieval software, ColorNet. “Advanced Color Proofing allows collision customers to view paint colors and digitally rotate them on 3D vehicle renderings to determine color match and blendability across panels,” said Troy Weaver, Vice President of Axalta, Global […]
CCC Reports Accelerated Growth of Photo Estimate and AI-Supported Claims
CCC Information Services Inc. (CCC) reported today that photo estimates and artificial intelligence (AI) supported claims have expanded at a record pace exceeding double-digit growth since the beginning of the year. The rapid adoption of digital technology is in direct response to social distancing and work-from-home protocols initiated to combat COVID-19. CCC industry data shows […]
I-CAR Announces 2020 Volunteer and Instructor Award Recipients
The Inter-Industry Conference on Auto Collision Repair (I-CAR) announced the 2020 recipients of its Johnny Dickerson Welding Award, Lon Baudoux Instructor of the Year Award and I-CAR’s Founders and Committee Awards. The awards were scheduled to be announced at I-CAR’s Annual Volunteer & Instructor Conference planned for earlier this year. Due to COVID-19, the conference […]
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