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Toyota Launches New $100 Million Venture Fund to Invest in Autonomous Mobility and Robotics Startups

May 7, 2019 By CollisionWeek Editor

Silicon Valley-based venture capital firm Toyota AI Ventures (TAIV) announced its Fund II, a new $100 million fund dedicated to investing in early-stage startups developing disruptive technologies and business models in the autonomous mobility and robotics markets. Led by founding managing director Jim Adler, who also serves as executive advisor at the Toyota Research Institute […]

Filed Under: News Tagged With: Autonomous Vehicles, Toyota, Toyota Research Institute

Thatcham Research Automotive Academy Report 92% Completion Rate on Apprenticeship Program

May 7, 2019 By CollisionWeek Editor

At a time when the UK’s National Audit Office’s (NAO) report reveals apprenticeship starts have fallen substantially, Thatcham Research apprenticeship results are growing. The UK Education and Skills Funding Agency (ESFA) confirmed that the Thatcham Research Automotive Academy has recorded 92 percent for its apprenticeship training Qualification Achievement Rates (QAR).  This result is remarkable given […]

Filed Under: News Tagged With: Apprentice Program, Thatcham Research, United Kingdom, Workforce Development

AASP/NJ to Address Collision Repair Labor Rates and Procedure Issues in Seminars May 22-23

May 6, 2019 By CollisionWeek Editor

The Alliance of Automotive Service Providers of New Jersey (AASP/NJ) will host two seminars focused on addressing labor rates and procedure issues through the Variable Rate System (VRS) by National AutoBody Research. AASP/NJ will host the seminars at locations in both the north and south of New Jersey. The North event will be held Wednesday, […]

Filed Under: News Tagged With: AASP/NJ, Labor Rates

USAA Expands Phoenix Campus

May 6, 2019 By CollisionWeek Editor

USAA Phoenix Expansion

USAA announced the expansion of its Phoenix operations with the opening of a new three story, 147,000 square foot building located at 25700 Norterra Parkway. Adjacent to USAA’s current campus, the building brings the total occupied space to more than 1.1 million square feet. The expansion is driven by USAA’s growth in Phoenix and its […]

Filed Under: News Tagged With: Arizona, Openings, USAA

More than 125 Suppliers Convene in Washington DC for 2019 MEMA Legislative Summit

May 6, 2019 By CollisionWeek Editor

More than 125 members and affiliates of the Motor & Equipment Manufacturers Association (MEMA) and its four divisions — Automotive Aftermarket Suppliers Association (AASA), Heavy Duty Manufacturers Association (HDMA), MERA – The Association for Sustainable Manufacturing, and Original Equipment Suppliers Association (OESA) — participated in the annual MEMA Legislative Summit in Washington, D.C. on April […]

Filed Under: News Tagged With: legislation, Motor & Equipment Manufacturers Association

Nashville I-CAR Committee and Collision Repair Education Foundation Award Full Scholarship to Technician

May 3, 2019 By CollisionWeek Editor

The surprise award erased a young technician’s student debt. A fundraiser and a surprise scholarship benefited Tennessee collision students in April. With collision professionals from across the country in Nashville for industry meetings, the local I-CAR Committee used the opportunity to surprise one hard-working collision student, Zac Stephens, with a full scholarship. During the scholarship […]

Filed Under: News Tagged With: Collision Repair Education Foundation, I-CAR, Scholarships, Workforce Development

Allstate Reports Revenue Up 12.5% in First Quarter

May 3, 2019 By CollisionWeek Editor

Auto Insurance Profitability Measures by Brand Q1 2019

The Allstate Corporation (NYSE: ALL) reported revenue of $10.99 billion for the first quarter of 2019, up 12.5 percent from $9.77 billion in the first quarter of 2018. Net income was $1.261 billion, up 29.1 percent from 2018. Adjusted net income was $776 million, due to a better than expected property and liability insurance underlying […]

Filed Under: News Tagged With: Allstate Insurance, Earnings

Tesla Adds Lane Keeping Functionality to Supplement Autopilot

May 3, 2019 By CollisionWeek Editor

Tesla Lane Departure Avoidance

Tesla announced on its blog that it was introducing two new safety features designed to help prevent drivers from inadvertently departing their lane, which the company says its data shows is a common cause of accidents when Autopilot feature is not engaged. The new features, Lane Departure Avoidance and Emergency Lane Departure Avoidance, help drivers […]

Filed Under: News Tagged With: Advanced Driver Assistance Systems, Collision Avoidance, Tesla

National AutoBody Research Launches Massachusetts Labor Rate Survey

May 3, 2019 By CollisionWeek Editor

National AutoBody Research (NABR) announced the launch of its VRS Labor Rate Survey in the state of Massachusetts, sponsored by AASP-Massachusetts. The online survey is free for all Massachusetts collision repair centers and can be found on NABR’s survey website. Through the VRS Standardized Labor Rate Survey, NABR provides Massachusetts body shops with an independent, […]

Filed Under: News Tagged With: AASP/MA, Labor Rates, National AutoBody Research

Uni-Select Reports 2019 First Quarter Sales of $420 Million

May 2, 2019 By CollisionWeek Editor

Finishmaster US reports organic growth of 3.1 percent. Uni-Select Inc. (TSE:UNS) today reported sales of $420 million for the first quarter ended March 31, down from $422 million in the first quarter of 2018 but up 2.5 percent organically. The company reported earnings before interest, taxes, depreciation and amortization (EBITDA) of $21.356 million, down from […]

Filed Under: News Tagged With: Earnings, FinishMaster, Uni-Select

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