USAA announced that Wayne Peacock plans to retire as President and CEO after a 36-year career at the company, including nearly five as CEO. He will retire in the first half of 2025. “Wayne has always answered the call to serve and the Board is thankful for his leadership,” said USAA Board Chairman, retired Navy […]
Wholesale Used-Vehicle Prices Increased in First Half of August
Prices were up month-over-month, but remain below last year. Wholesale used-vehicle prices, on a mix-, mileage-, and seasonally adjusted basis, increased 0.5% from July in the first 15 days of August. The mid-month Manheim Used Vehicle Value Index increased to 202.6, which was down 4.5% from the full month of August 2023. The seasonal adjustment […]
Classic Collision Acquires Repair Center in Mesa, Arizona
Classic Collision, LLC announced the acquisition of Roadrunner Collision Center in Mesa, Ariz. “We have made it our everyday goal to provide top-notch customer service and superior collision repair for every customer. We look forward to becoming part of the Classic Collision family,” stated Brent Vanderpol, former owner of Roadrunner Collision Center. “We are excited […]
Southeast Toyota Distributors Opens Parts Distribution Center in Georgia
Southeast Toyota Distributors, the world’s largest independent distributor of Toyotas, announced the company’s expansion in Atlanta with the addition of a state-of-the-art parts distribution center (PDC). The new PDC, located in Norcross, Ga., will house about 120 jobs, and represents more than $41 million in capital investment for Gwinnett and the state of Georgia. Southeast […]
ASE Expands Customer Service Options with New Chat Feature
The National Institute for Automotive Service Excellence (ASE) has added a new chat feature to the customer service section of its website. This new option will provide a more personalized and text-based experience for the convenience of service professionals needing assistance with their ASE accounts. “In the age of digital interaction, great customer service isn’t […]
MSO Symposium November 4 in Las Vegas
The 13th annual MSO Symposium will take place in Las Vegas, Nev. on Monday, November 4th from 9 a.m. to 7 p.m. in advance of the SEMA/AAPEX show. Annually, MSO leadership comes together to network, discuss industry matters, and learn about issues impacting their businesses now and in the foreseeable future. “A few of the […]
Distribution Solutions Group Closes Source Atlantic Acquisition, Expands Credit Facility
Distribution Solutions Group, Inc. (NASDAQ: DSGR) announced the closing on its previously announced agreement to acquire Source Atlantic Limited which was funded by the Company’s senior secured credit facility. Additionally, on August 14 the Company entered into an amendment to its Amended and Restated Credit Agreement, dated April 1, 2022, increasing the borrowing capacity from […]
Texas Instruments to Receive Up to $1.6 Billion in Funding for Semiconductor Manufacturing in Texas and Utah
Texas Instruments (TI) (NASDAQ: TXN) and the U.S. Department of Commerce have signed a non-binding Preliminary Memorandum of Terms for up to $1.6 billion in proposed direct funding under the CHIPS and Science Act to support three semiconductor wafer fabrication facilities already under construction in Texas and Utah. In addition, TI expects to receive an […]
US Department of Transportation Release National Plan to Deploy V2X Communication Technologies to Reduce Crashes and Traffic Fatalities
U.S. Department of Transportation (USDOT) today introduced Saving Lives with Connectivity: A Plan to Accelerate V2X Deployment. This plan will guide the implementation of vehicle-to-everything (V2X) technologies across the nation and support USDOT’s commitment to pursue a comprehensive approach to reduce the number of roadway fatalities to zero. The plan, initially released in draft form […]
U.S. Auto Insurers’ Strong Performance Recovery to Continue Through 2025
Fitch Ratings says premium increases and moderating claims severity benefiting auto insurance companies. The improving, more favorable mid-year 2024 results of U.S. personal auto insurers are likely to continue through the end of 2024 and into 2025, Fitch Ratings says. Several rounds of material price increases and a moderation of claims severity trends has vastly […]
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