General Automotive

PGW Auto Glass Premieres New Branding

Retrieved on: 
Tuesday, March 26, 2024
Software, Internet, Aftermarket, Automotive, Data Management, Other Automotive, Technology, General Automotive, Glass, Utility player, ATS, Agility, The Royal Group, Sale, Acquisition, Plough, Equalizer, Senior, Special Recognition Award, Multimedia, SRP, PGW, Video game

PGW Auto Glass has just launched a new logo and brand identity to coincide with the launch of everythingautoglass.com, a VIN decoding and point-of-sale software service focused on getting the correct auto glass solutions quickly and efficiently across the industry.

Key Points: 
  • PGW Auto Glass has just launched a new logo and brand identity to coincide with the launch of everythingautoglass.com, a VIN decoding and point-of-sale software service focused on getting the correct auto glass solutions quickly and efficiently across the industry.
  • The new logo, launched at a company event earlier this month, captures the spirit of the company while reinforcing its commitment to advancing technology in the auto glass space.
  • Awards included the Special Recognition Award, which rewarded seven PGW employees that went above and beyond during the acquisition of American Glass Distributors and Auto Glass Direct and their smooth integration into PGW over the last year, along with the Utility Player of the Year award, which was given to one recipient for their work coordinating Agility Conversions within the American network.
  • Awards were also given to managers from American Glass Distributors new to PGW, recognizing their high performance despite a challenging year of transitions.

Holley Announces Additional $15 Million Debt Paydown

Retrieved on: 
Wednesday, March 27, 2024
Retail, Other Automotive, Supply Chain Management, Recreational Vehicles, Online Retail, Performance & Special Interest, Off-Road Trucks & SUVs, Sports, Other Retail, General Automotive, Aftermarket, Specialty, Motor Sports, Automotive, Vehicle Technology, History, Hand, Bank

Holley Performance Brands (NYSE: HLLY), a leader in automotive aftermarket performance solutions, today announced it paid down an additional $15 million in principal against its first lien term loan facility.

Key Points: 
  • Holley Performance Brands (NYSE: HLLY), a leader in automotive aftermarket performance solutions, today announced it paid down an additional $15 million in principal against its first lien term loan facility.
  • This debt reduction against Holley’s first lien term loan facility was completed through opportunistic repurchases at a discount to par in March and was completed using cash on hand.
  • Combined with the $50 million paydown during 2023, Holley has prepaid the principal amount outstanding under its first lien term loan facility by $65 million since September 2023 allowing Holley to cumulatively recognize up to an estimated $2.5 million in annualized net interest savings.
  • “The prepayment of an additional $15 million of debt demonstrates our continued focus to reduce leverage and improve our balance sheet,” said Jesse Weaver, Chief Financial Officer, Holley.

HSB Introduces Cyber Insurance for Autos

Retrieved on: 
Tuesday, March 26, 2024
Online Privacy, Technology, Professional Services, Automotive, General Automotive, Vehicle Technology, IOT (Internet of Things), Security, Apps, Applications, Software, Other Automotive, Networks, Mobile, Wireless, Hardware, Insurance, Off-Road Trucks & SUVs, Data Management, Cyberattack, Cybercrime, Risk management, Communication, SUV, Internet of things, Risk, Vehicle, Transport, Virus, Computer, Hurricane Ian, Identity theft, Superior, HSB, MEAG, Engineering

HSB Cyber for Auto is designed to cover attacks on personal data that is connected and stored in a vehicle.

Key Points: 
  • HSB Cyber for Auto is designed to cover attacks on personal data that is connected and stored in a vehicle.
  • HSB’s Cyber for Auto will be available1 through an endorsement to the policies of insurance companies that partner with HSB.
  • 1 The Cyber Security for Automobile Insurance offering described above has not been approved by any state insurance departments.
  • HSB insurance offerings include equipment breakdown, cyber risk, specialty liability and other coverages.

Vehicle Management Solutions Strengthens Presence in Texas and Enters Georgia Markets

Retrieved on: 
Tuesday, March 26, 2024
Other Transport, Automotive, Finance, General Automotive, Transport, Law Enforcement, Emergency Services, Professional Services, Public Policy, Government, State, Local, Fleet Management, Growth, VMS, Acquisition, PPI, Police, Lease

Vehicle Management Solutions LLC (“VMS”), a portfolio company of Mill Point Capital LLC, (“Mill Point”) announced the acquisition of Grant Street Companies, LLC (the “Company” or “Grant Street”), a leading provider of police and private property impound (“PPI”) vehicle storage management and a subsidiary of Summit Vehicle Solutions.

Key Points: 
  • Vehicle Management Solutions LLC (“VMS”), a portfolio company of Mill Point Capital LLC, (“Mill Point”) announced the acquisition of Grant Street Companies, LLC (the “Company” or “Grant Street”), a leading provider of police and private property impound (“PPI”) vehicle storage management and a subsidiary of Summit Vehicle Solutions.
  • The acquisition fortifies VMS’ position as the leading player in vehicle management services in Texas and marks its entry into the high-growth Georgia market.
  • "We are thrilled to welcome Grant Street Companies into the Vehicle Management Solutions family," said Kevin Corcoran, Chief Executive Officer of VMS.
  • "We firmly believe Vehicle Management Solutions is the right partner for Grant Street Companies," added Trevor Forbes, Chief Executive Officer of Summit Vehicle Solutions.

Haig Partners releases the Q4 2023 Haig Report®, which tracks trends and their impact on dealership values

Retrieved on: 
Tuesday, March 26, 2024
Retail, Commercial Building & Real Estate, Automotive Manufacturing, Construction & Property, Manufacturing, Finance, Banking, Accounting, Professional Services, Trucking, Other Retail, General Automotive, Transport, REIT, Automotive, Logistics, Supply Chain Management, Partner, Original equipment manufacturer, Mercedes-Benz, Life, Sale, J.D. Power, Record, Toyota, Pleasure, Kia, BMW, Cox Enterprises, ATP, Multimedia, Lithia, Car dealership

Haig Partners LLC , released its closely followed Haig Report® for Q4 2023, which tracks trends in auto retail and their impacts on dealership values.

Key Points: 
  • Haig Partners LLC , released its closely followed Haig Report® for Q4 2023, which tracks trends in auto retail and their impacts on dealership values.
  • (Graphic: Business Wire)
    In 2023, Haig Partners advised on two record-setting deals, fetching the highest price for Toyota and Stellantis dealerships.
  • Average estimated profits per dealership were 78% higher in Q4 2023 compared to Q4 2019, before the pandemic hit.
  • Alan Haig , President of Haig Partners, shared, “We are seeing mixed trends in auto retail today, which are pushing down dealership profits and dealership values.

CFO Lawler to Affirm Full-Year 2024 Operating Guidance, Review Ford+ Growth Plan at BofA Auto Summit Today

Retrieved on: 
Tuesday, March 26, 2024
EV, Electric Vehicles, Alternative Vehicles, Fuels, Automotive, Automotive Manufacturing, General Automotive, Performance & Special Interest, Vehicle Technology, Manufacturing, Ford Models, Tax, Ford Motor Company, Growth, Public expenditure, Ford

That’s the summary of what Ford CFO John Lawler will say today (Tuesday) during fireside-chat remarks at the BofA Securities Auto Summit.

Key Points: 
  • That’s the summary of what Ford CFO John Lawler will say today (Tuesday) during fireside-chat remarks at the BofA Securities Auto Summit.
  • Lawler will speak at 12:10 p.m.
  • His comments will be webcast “live” and on replay and a transcript of them will be available afterward, all via shareholder.ford.com .
  • Ford plans to report first-quarter 2024 financial results on Wednesday, April 24.

CCC Crash Course Report Reveals How Labor Pressures and Increasing Vehicle Complexity Are Reshaping Auto Insurance and Collision Repair Industries

Retrieved on: 
Tuesday, March 26, 2024
Software, Vehicle Technology, EV, Electric Vehicles, Hardware, Data Management, General Automotive, Technology, Automotive, Automotive Manufacturing, Other Automotive, Other Technology, Manufacturing, PIP, Injury, Crash, Pressure, Urbanization, EVS, Electric vehicle, Crash course, ADAS, Radiology, AI, Weather, P&C, Multimedia, CCC, Report, Road

CCC Intelligent Solutions Inc. (CCC), a leading cloud platform powering the P&C insurance economy, today published its 2024 Crash Course Report highlighting the latest data, insights, and trends impacting the auto claims and collision repair industries.

Key Points: 
  • CCC Intelligent Solutions Inc. (CCC), a leading cloud platform powering the P&C insurance economy, today published its 2024 Crash Course Report highlighting the latest data, insights, and trends impacting the auto claims and collision repair industries.
  • Crash Course Q1 2024 found that increasing vehicle complexity, combined with rising labor costs and shortages, are placing persistent pressure on carriers and repairers.
  • “CCC has shifted to a quarterly publication of Crash Course to support the growing needs of our customers and the industry.
  • Previously published annually, Crash Course will be published quarterly in 2024 to provide more frequent updates on key trends and insight.

InfoSum and Experian launch groundbreaking innovation that enables automotive advertisers to improve audience strategy

Retrieved on: 
Wednesday, March 27, 2024
Retail, Security, Data Management, Technology, Marketing, Advertising, Communications, Professional Services, Online Privacy, Online Retail, General Automotive, Specialty, Automotive, Software, Digital Marketing, Data Analytics, Intelligence, Data science

This groundbreaking innovation gives businesses the power to connect directly to consumers with a high propensity to purchase a vehicle in a secure and privacy-compliant manner.

Key Points: 
  • This groundbreaking innovation gives businesses the power to connect directly to consumers with a high propensity to purchase a vehicle in a secure and privacy-compliant manner.
  • “This new initiative from InfoSum and Experian furthers our shared commitment to deliver private collaboration solutions to meet the needs of marketers.
  • In the highly-dynamic automotive industry, this collaboration enables brands to enrich data sets and execute campaigns using continuous updates,” said Lauren Wetzel, COO at InfoSum.
  • Experian is deeply committed to privacy-compliant and future-proofed targeting," said Erik Hjermstad, Vice President of Automotive Product Management at Experian.

Home Charging Satisfaction a Bright Spot among Electric Vehicle Owners, J.D. Power Finds

Retrieved on: 
Tuesday, March 26, 2024
Vehicle Technology, EV, Electric Vehicles, Professional Services, Alternative Vehicles, Fuels, General Automotive, Apps, Applications, Technology, Aftermarket, Automotive, Data Analytics, Automotive Manufacturing, Other Technology, Manufacturing, Bev, Benchmarking, EVX, Chemical oxygen demand, Wi-Fi, EVS, Level 2, Internet, Research, J.D. Power, Level 1, Multimedia, Electric battery

Power 2024 U.S. Electric Vehicle Experience (EVX) Home Charging Study,SM released today.

Key Points: 
  • Power 2024 U.S. Electric Vehicle Experience (EVX) Home Charging Study,SM released today.
  • Power 2024 U.S. Electric Vehicle Experience (EVX) Home Charging Study (Graphic: Business Wire)
    “In contrast to public charging, home charging is the ultimate convenience for owners to charge their EV,” said Brent Gruber, executive director of the EV practice at J.D.
  • Charging speed remains a key differentiator: Charging speed is the most substantial differentiating factor of owner satisfaction between Level 1 and Level 2 chargers.
  • For more information about the U.S. Electric Vehicle Experience (EVX) Home Charging Study, visit https://www.jdpower.com/business/automotive/electric-vehicle-experience-... .

OSI Systems Receives $100 Million Contract for Cargo and Vehicle Inspection Solutions

Retrieved on: 
Tuesday, March 26, 2024
Trucking, Automotive, General Automotive, Other Automotive, Transport, Other Transport, Security, Trust, OSI Systems, OSI, Safety

OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) announced today that its Security division, a premier global provider of security and inspection systems, has secured an international contract award valued at approximately $100 million to provide cargo and vehicle inspection systems, as well as ongoing maintenance services and training.

Key Points: 
  • OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) announced today that its Security division, a premier global provider of security and inspection systems, has secured an international contract award valued at approximately $100 million to provide cargo and vehicle inspection systems, as well as ongoing maintenance services and training.
  • Deepak Chopra, OSI Systems’ Chairman and CEO, commented, "This award is a testament to the trust and confidence that our partners have in our technology expertise and customer service.
  • We are excited to further contribute to the safety and security of nations with our advanced inspection systems.
  • We are committed to delivering excellence and innovation in all our projects."