PZU, the largest financial institution in Central and Eastern Europe, is using artificial intelligence (AI) to enhance how it reviews its car insurance claims across Poland. PZU handles nearly 500,000 motor damage claims per year. Before implementing AI, Poland’s largest insurer was performing a detailed review of around 20% of its motor claims that are […]
EU Passenger Car Registrations Up Over 3% in September Compared to Last Year
Even with increase, for the first nine months registrations are down nearly 30%. In another sign of an improving global automotive economy, in September the EU passenger car market registered the first increase of the year compared to 2019. Registrations grew by 3.1% last month to reach 933,987 new cars sold across the European Union. […]
Admiral Seguros To Use Tractable Artificial Intelligence To Assess Vehicle Damage in Spain
For the first time, an insurer in Spain, Admiral Seguros, the Spanish subsidiary of global insurer Admiral, is using artificial intelligence (AI) to create damage valuations and to generate an offer of immediate payment on damaged vehicles. To do this, Admiral Seguros is using an AI solution, developed by the technology company Tractable, which evaluates […]
Alex Gelbcke Named CEO of LKQ’s Fource in Europe
Starting September 1, the management team of LKQ Europe and Fource welcomes Alex Gelbcke, a well-known and highly respected automotive industry veteran. There will be a transition period until the end of 2020, at which time Alex will take over the position of CEO from current CEO, Sinon Galvin. Gelbcke will take over daily management […]
LKQ Europe Reports Continuing Recovery Across Business
LKQ Europe CEO Arnd Franz says that while volume is below pre-pandemic levels, they are seeing continued growth in its business. “After a significant slump in the spare parts business at the beginning of April, the market will not return to its former level so quickly, but we are seeing continuous recovery of the workshop […]
Axalta Breaks Ground on Refinish Facility in the Netherlands
Axalta Coating Systems (NYSE:AXTA) broke ground June 19 on its new, 7,250 square-meter (78,000 sq. ft.) facility to support its refinish business in the Netherlands that was announced last year. The new facility will be equipped with the latest technology and energy-saving features. Construction at the site in Tiel is expected to be completed by […]
EU Passenger car registrations Down 76.3% in April
In April 2020, registrations of new passenger cars in the European Union posted a year-on-year decline of 76.3%. The first full month with COVID-19 restrictions in place resulted in the strongest monthly drop in car demand since records began. The EU was harder hit than the U.S. in April as sales in the U.S. were […]
September Automechanika Frankfurt Event Postponed Until Next Year
The bienniel event in Germany will now be held from September 14-18, 2021. Messe Frankfurt announced that due to conditions resulting from the corona pandemic and measures taken to stem its spread, the organization along with its customers, partners and supporting associations have agreed to postpone the Automechanika Frankfurt event that was originally scheduled to […]
LKQ Completes Sale of Two Czech Distributors
LKQ Corporation (Nasdaq: LKQ) announced that it has closed its previously announced agreement to sell its equity interests in two Czech wholesale automotive parts distributors to Swiss Automotive Group AG. Terms of the transaction were not disclosed. Dominick Zarcone, President and Chief Executive Officer of LKQ, stated, “This divestiture reinforces our ongoing commitment to rationalizing […]
PPG Completes Acquisition of ICR
PPG (NYSE: PPG) today announced that it has completed its acquisition of Industria Chimica Reggiana (ICR) S.p.A., a manufacturer of paints and coatings for the automotive refinish and light industrial coatings industries, that was announced in early January. Financial terms were not disclosed. Founded in 1961, ICR is based in Italy and manufactures automotive refinish […]