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- Category: Industry News
The American Bus Association (ABA), an organization dedicated to North America’s motorcoach, charter bus, group travel, and tourism industries, recently released its Third Quarter 2024 Motorcoach Builders Survey with positive and some mixed news. The quarterly report, compiled by the American Bus Association Foundation (ABAF) in conjunction with analytics firm Oxford Economics from data received from North American motorcoach manufacturers, revealed that the sale of new coaches is up nearly 15 percent over the same quarter in 2023, while pre-owned coach sales have slipped sharply, down nearly 55 percent over Q3 2023.
Data show that 389 new and 47 pre-owned coaches were sold during the quarter, according to participating manufacturers, which is consistent with sales over the past two years. According to the report, both the private and public sectors’ buying is higher than a year ago, increasing by 14.4 percent and 24.0 percent, respectively.
ABA and ABAF President & CEO Fred Ferguson
“The motorcoach, charter bus, and group travel industries continue to build momentum, highlighted by a 15 percent increase in new motorcoach sales over last year’s quarter,” said ABA and ABAF President & CEO Fred Ferguson in the report. “This growth underscores the critical role motorcoaches play in connecting people with places nationwide, whether for leisure, business, or travel. Looking ahead, our industry is dedicated to delivering safe, reliable, and sustainable transportation options that connect communities and strengthen the group travel and mobility sectors.”
The full report is available here.
Visit buses.org for more information.
[11.19.24]
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- Category: Industry News
CTANJ President Mike Rose
On Monday, November 11, the Chauffeured Transportation Association of New Jersey (CTANJ), formerly the Limousine Association of New Jersey, held a Zoom webinar entitled Insurance Renewals: Best Practices and Market Trends for their membership. Attracting dozens of members from around the Tri-State Region, the online session addressed the current rise in fleet insurance rates and the reasons behind it, as well as some ways that operators can save money. CTANJ President Mike Rose of My Limousine Service kicked off the event and said that it’s the association’s intention for this to be the first of many webinars designed to educate the industry.
The proceedings got off to a prompt start as a panel of insurance experts was introduced by Rose, including Ken Lucci of Driving Transactions (who served as moderator), Tim Delaney of Lancer Insurance, Mike Marroccoli of EPIC Insurance, and John Arone of Acrisure. Lucci set the stage by stating that insurance prices are firmly placed among the top three reasons that operators are looking to get out of the industry. He offered an overview explaining why fleet insurance is so pricey and detailed solutions for how to plan for and manage insurance increases.
Moderator Ken Lucci of Driving Transactions
In his segment called A Carrier’s Perspective, Delaney further elucidated on the why rates are increasing, making note of the fact that the industry is seeing more (and costlier) accidents. He then advised operators to “choose your partners wisely,” whether it’s insurance brokers, affiliates, or even chauffeurs. Delaney recommended that fleet owners take action to prevent claims, namely always remaining in compliance.
Tim Delaney of Lancer Insurance
Next, Marroccoli and Arone offered a number of insurance buying tips for operators. They stressed the importance of finding the right broker, and carefully reviewing loss runs. The pair suggested that fleet operators begin the search process for the best rates 60-90 days before renewal. They also advised operators to consider higher deductibles and expanded on Delaney’s point that it’s imperative to make certain that you’re in compliance with all safety regulations. Marroccoli and Arone also discussed best practices for maintaining rates and changing your company culture to appeal to insurance companies.
Mike Marroccoli of EPIC Insurance
Before closing with a Q&A session, Rose provided an overview of the recently drafted National Limousine Association Best Practices for Commercial Auto Liability Insurance guidelines. Created by a team of association leaders and distributed during the Association Summit at the Fall CD/NLA Show, this guide offers a detailed initiative to prepare for insurance renewal while also advocating for insurance reform. Rose highlighted some of the document’s most useful elements for operators, including creating and maintaining a culture of safety and robust tips to address when prepping your renewal.
Visit ctanj.org or their previous website, lanj.org, for more information.
[11.12.24]
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- Category: Industry News
The Florida Limousine Association has announced its recently elected board members, who will serve terms through the end of 2026. They include:
- Rick Versace of A1A Global Ground
- Larry Greene of Emerald Coast Luxury Transportation
- Tim Rose of Dolphin Transportation Specialists
- Dave Shaw of Olympus Limousine
- Cliff Wright of Royal Transportation Group
- Oz Akgun of Limo Miami (new FLA director)
- Tom Holden of Transportation Advisors (Vendor Director)
They join current board members (terms to expire at the end of the 2025) Ray Garcia of Prestige Limousine, Nour Elotmani of Destination MCO, Randy Smith of Naples Transportation & Tours, Eli Thrift of Atlantic Coach, Mariah Corriveau of Sunshine Limousine, Tom Halsnik of Walsh Chauffeured Transportation, Larry Janowitz of Larry’s Private Car, Frank Cornelisse of OD Transportation, and Andres Hernandez of Icon Chauffeured Services. Additionally, Tim Guldin of TEMSA and Joseph Madiedo of Professional Insurance Center are vendor directors, while Matt Daus of Windels Marx is the association’s council.
FLA is also accepting nominations from members for Operator of the Year and Chauffeur of the Year, which will be announced at their upcoming FLA Leadership Summit & Awards Gala in Orlando this November 21-22. Click the following links to complete nominations for Operator of the Year and Chauffeur of the Year.
Visit floridalimousine.com for more information.
[11.12.24]