Growing Demand for Leisure Travel aids Business Travel Market to grow at a CAGR of 3% by 2024 – A Technavio Exclusive Report

NEW YORK, March 5, 2021 /PRNewswire/ — A latest market research report titled «Business Travel Market by Expenditure (Travel Fare, Lodging, Dining, and Other Expenditure), Age (Above 40 Years and Below 40 Years), Application (Marketing, Internal Meeting, Trade Show, and Product Launch), and Geography (APAC, Europe, MEA, North America, and South America) – Forecast and Analysis 2020-2024″, published by…

NEW YORK, March 5, 2021 /PRNewswire/ — A latest market research report titled «Business Travel Market by Expenditure (Travel Fare, Lodging, Dining, and Other Expenditure), Age (Above 40 Years and Below 40 Years), Application (Marketing, Internal Meeting, Trade Show, and Product Launch), and Geography (APAC, Europe, MEA, North America, and South America) – Forecast and Analysis 2020-2024″, published by Technavio forecasts the market to grow by USD 268.83 billion, at a CAGR of 3% during the forecast period.

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Rising availability of business services in hotels and growing demand for leisure travel catalyze market growth

  • Various hotels are attracting business segment customers by offering free business services such as free Wi-Fi, conference rooms, video conferencing and other facilities.
  • These services enable the guests to stay connected and up to date with their workload and offices, in turn, becoming one of the key drivers for the business travel market.
  • Growing demand for leisure travel is also expected to offer immense growth opportunities for the business travel market.
  • Leisure travel is enabling the employees and business travelers to hold meetings in the hotel premises while integrating leisure time into business trips, in turn, contributing to the business travel market growth.

Get Business Travel Market Overview

Travel fare accounted for the largest expenditure share in the business travel market in 2019.

  • Based on expenditure, the business travel market is segmented into travel fare, lodging, dining, and other expenditure.
  • In 2019, the travel fare expenditure segment accounted for the largest share of the global market due to the steady airfares for flights.
  • Flights have gained popularity among business segments as they offer faster and time-bound travel time for the business travelers.

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Europe is expected to show the highest growth during forecast period.

  • Based on geography, the business travel market is segmented into APAC, Europe, MEA, North America, and South America.
  • By 2024, APAC will account for the 53% of the market growth due to the growing popularity of leisure travel in prominent markets of the region including China and Japan.

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Prominent Player Analysis

  • The business travel market is fragmented with players categorized as pure-play and dominant players in this report.
  • Vendors in the market are focusing on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
  • This market forecast provides information on the competencies and capacities of these companies such as ADTRAV Corp., Airbnb Inc., and BCD Group.
  • In addition, the business travel market report by Technavio provides information on the production, sustainability, and prospects of several leading companies, including Booking Holdings Inc., CWT Global BV, Egencia LLC, FROSCH International Travel Inc., GBT Travel Services UK Limited d/b/a/ American Express Global Business Travel, Ovation Travel Group, and Travel Leaders Group LLC.

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Report:  https://www.technavio.com/report/business-travel-market-industry-analysis

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SOURCE Technavio

GreenPower Announces March Conference Schedule

LOS ANGELES, March 5, 2021 /PRNewswire/ — GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) («GreenPower»), a leading manufacturer and distributor of zero-emission, electric-powered medium and heavy-duty vehicles, today announces its investor conference roadshow schedule for March.

The…

LOS ANGELES, March 5, 2021 /PRNewswire/ — GreenPower Motor Company Inc. (NASDAQ: GP) (TSXV: GPV) («GreenPower»), a leading manufacturer and distributor of zero-emission, electric-powered medium and heavy-duty vehicles, today announces its investor conference roadshow schedule for March.

The GreenPower team will share insights on its business including its recent announcement with Forest River, a Berkshire Hathaway company, as well as mandates pertaining to all-electric school buses.

About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis.  GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in Vancouver, Canada with primary operational facilities in southern California. Listed on the Toronto exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to  www.greenpowermotor.com

Forward-Looking Statements
This document contains forward-looking statements relating to, among other things, GreenPower’s business and operations and the environment in which it operates, which are based on GreenPower’s operations, estimates, forecasts and projections. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as «upon», «may», «should», «will», «could», «intend», «estimate», «plan», «anticipate», «expect», «believe» or «continue», or the negative thereof or similar variations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond GreenPower’s control. A number of important factors including those set forth in other public filings (filed under the Company’s profile on www.sedar.com) could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  © 2021 GreenPower Motor Company Inc. All rights reserved.

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SOURCE GreenPower Motor Company

China Automotive Distribution and Aftermarket Report, 2020-2026 – Focus on Maintenance and Repair, Finance, Used Car, Rental, Accessories, Beauty and Refit, Recycling, and Aftermarket Alliances

DUBLIN, March 5, 2021 /PRNewswire/ — The

DUBLIN, March 5, 2021 /PRNewswire/ — The «China Automotive Distribution and Aftermarket Industry Report, 2020-2026» report has been added to ResearchAndMarkets.com’s offering.

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Since 4S store model was introduced in China at the end of the 20th century, China’s authorized dealer system has made a shift from single stores to corporate operation and from extensive management to fine management.

For the upstream raw materials, components suppliers provide an array of components to automakers; at the midstream end are automakers which take on design, R&D, manufacture and branding; dealers are downstream players responsible for selling new vehicles and offering aftermarket services. In the whole industry chain, automakers that manage dealers by authorization and rebate policy play a dominant role and have a big say.

In 2019, China produced 25.72 million automobiles and sold 25.77 million units, down 7.5% and 8.2% on the previous year, up 3.3 and 5.4 percentage points, separately, according to the China Association of Automobile Manufacturers (CAAM). China’s automobile circulation industry faces unprecedented challenges as the automobile market is getting through an ever-colder winter. The automotive distribution industry however performs well as a whole.

The data from the China Automobile Dealers Association (CADA) shows that in 2019, the top 100 dealers reported a combined output value of RMB1.74 trillion, up 6.3% compared with RMB1.63 trillion in 2018; their total asset investment was RMB802.4 billion, 5.7% less than in 2018 (RMB851.1 billion). In 2019, there were a total of 6,038 4S outlets in China, down 7.5% versus 2018 (6,529); total employment was 420,000 persons, a reduction of 10.6% from 470,000 in 2018.

Emerging automakers adopt branding sales models and channels differing from the nationwide dealership model of conventional auto brands, changing from dealership model to direct operation of chain stores by auto brands or their cooperation with authorized dealers.

The direct sale model offers totally different brand experience by providing full life cycle services for users, which serves as a solution to drawbacks of the common dealership model, such as non-transparent price and bad user service experience. Yet this model with some disadvantages like enormous investment and complicated operation process does not apply to all new energy vehicle manufacturers. 4S stores still need to shake up their service and profit structures even if they continue to employ the dealership model.

Automobile aftermarket refers to all the car-centric services needed by consumers in the period from post-sale to scrap. The growing aftermarket, especially maintenance and repair segment is accompanied by aging vehicles. That’s because the older the auto parts, the more frequent repairs they need and the more they cost. In current stage, the average vehicle in China is 5 years old, and those aged 4-10 seize over 58%. Vehicle aging, and increasing ownership are dual effective booster to prosperity of the aftermarket, making it a new industrial hotspot. The industry will usher in a boom period.

Automobile aftermarket involves maintenance and repair, auto finance, used car, rental, accessories, beauty and refit, recycling, and aftermarket alliance platform integration/car e-commerce, among which auto finance, maintenance & repair, and used car are the top three segments.

Used Cars

Factors such as household demand, profession, consumer preferences, etc. will prompt car owners to replace or resell their cars in the circulation market through used car dealers, used car e-commerce platforms and other channels. In recent years, the state and local governments will make more efforts to promote automobile consumption with favorable measures which will drive used car consumption and fuel Chinese used car market to grow with larger scale of transactions.

In 2020, China saw approximately 14.34 million used cars transacted, with the estimated value of RMB888.8 billion. Although the annual transaction volume dropped by 3.9% in the entire 2020 due to the epidemic, the domestic used car transaction volume experienced consecutive growth from March to December. In the future, the used car market is expected to occupy more market share in the automotive aftermarket.

Repair and Maintenance
In the context of high ownership, aging of vehicles and changes in the maintenance concept, the auto repair and maintenance market continues to swell. The annual repair and maintenance cost increases year by year as vehicles become older, because the number of repairs and the expenses of each repair for old and worn auto parts jump each year.

Learning from the experience of developed countries, China is about to see the demand for repair and maintenance hit the peak. In the past ten years, automobile sales volume has been impressive while the growth of new car sales volume has slowed down. In the future, the average vehicle age will continue to rise, which will boost the auto repair and maintenance industry into a golden age.

The scale of China’s auto repair and maintenance had reached approximately RMB1,332 billion as of 2019, and is expected to hit RMB2,458 billion by 2026, surpassing the auto finance market to rank first in the aftermarket. Amid the anti-monopoly, independent auto repairers are gradually eroding the market share of traditional 4S stores. With the help of the ‘Internet +’ model, the independent repair model will develop more radically.

Auto Finance

Auto finance refers to a variety of financial products for companies, individuals, governments, automotive operators and other entities. It centers on automotive OEMs, stretching to the upstream and downstream of the industry, and eventually to end consumers. Typical auto finance products include dealer inventory financing, auto consumption loans, auto leasing and auto insurance. In recent years, the overall penetration rate of China’s new car finance has ascended year by year, like 43% in 2019.

According to the proportion of cars involved with financial products, the loan penetration rate is about 35% and the financial leasing penetration rate 8%, meaning loans still lead by a high margin. Compared with mature markets in Europe and America, China’s auto finance market for new cars has enormous potentials. As terminal consumption upgrades and credit is widely accepted, auto finance will witness further growth.

The car sales volume has fluctuated and the growth rate of the auto finance market has slowed down (about 20%) since 2017, but the momentum of auto finance is more robust than the trend of the car sales volume. In 2019, the overall scale of China’s auto finance market reached approximately RMB1.58 trillion, of which licensed auto finance companies accounted for approximately 50%.

China Automotive Distribution and Aftermarket Industry Report, 2020-2026 sheds light on the followings:

  • Introduction to the automotive distribution industry and aftermarket, including definition, classification, industrial chain, business models, etc.;
  • Global and Chinese automotive distribution market scale and forecast, including total automobile sales volume, dealer networks, dealers’ automobile sales volume, competitive landscape, new energy vehicle sales models, etc.;
  • Automotive aftermarket segments, including market size and forecast, competitive landscape, industry trends, etc. of auto finance, used cars, repair & maintenance, beauty, etc.;
  • Profile, business analysis, brand agency, business networks and marketing of major auto dealers in China.

Companies Mentioned

  • China Grand Auto
  • Sinomach
  • Zhongsheng Group
  • Dah Chong Hong
  • PANGDA
  • ZhengTong
  • Yongda
  • Grand Orient
  • Grand Baoxin
  • Harmony Auto
  • Guangwu Automotive Trade
  • Yuantong Automobile
  • LSH Auto

For more information about this report visit https://www.researchandmarkets.com/r/uwctn2

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
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SOURCE Research and Markets

Continued Population Growth in Polk County Prompts Action Gator Tire To Open New Location in Davenport, FL

DAVENPORT, Fla., March 5, 2021 /PRNewswire-PRWeb/ — Today, Action Gator Tire, a tire, and auto repair company, announced that they are opening a new facility in the Reunion community in Davenport, FL.

«This city is experiencing rapid growth and we have the opportunity to provide affordable tires and quality automotive service to the community,» says Action Gator Tire Vice president and COO Freddy…

DAVENPORT, Fla., March 5, 2021 /PRNewswire-PRWeb/ — Today, Action Gator Tire, a tire, and auto repair company, announced that they are opening a new facility in the Reunion community in Davenport, FL.

«This city is experiencing rapid growth and we have the opportunity to provide affordable tires and quality automotive service to the community,» says Action Gator Tire Vice president and COO Freddy Christensen. «With close proximity to Walt Disney World theme park, tourists will also be able to enjoy quality car care allowing them to focus on their vacation and not on car troubles».

For over 50 years Action Gator Tire has been family-owned and operated while keeping Central Florida safe. To continue to keep its valued customers safe, this new location will offer night drop, curbside-service, and pick-up & delivery.

The new facility will be located at 8002 Osceola Polk line Rd. It features

Comfortable, socially distanced waiting room
Free wi-fi internet connection
Free water and coffee
View of workshop area

The company can be contacted online at http://www.actiongatortire.com. Customers can schedule their next tire or auto service appointment at the new Reunion location at http://www.actiongatortime.com/davenport or if they prefer may contact the new location by phone at 407-888-2929. Directions to the new shop can be found here

About Action Gator Tire:
This third-generation family business was founded in 1964 in Orlando, Florida. Since its founding, Action Gator Tire has expanded to more than 21 locations throughout Central Florida. They are the local shop that knows that customers count on their vehicles and they need a mechanic that they can count on.

Media Contact

Action Gator Tire Team, Action Gator Tire, +1 919-346-7447, Marketing@3ve.com

 

SOURCE Action Gator Tire

Celebrity Cruises’ History-Making All-Female Bridge And Leadership Team Reunite

MIAMI, March 5, 2021 /PRNewswire/ — On March 8, 2020, Celebrity Cruises set sail with the <a target="_blank"…

MIAMI, March 5, 2021 /PRNewswire/ — On March 8, 2020, Celebrity Cruises set sail with the first ever all-female bridge and onboard leadership team and made history. Just days later, the pandemic suspended sailings indefinitely. Now, on International Women’s Day 2021, one year after their glass ceiling-shattering achievement, the women behind this maritime first are reuniting to reflect on the historic sailing, discuss the challenging year that followed, share their stories of joy and heartbreak and why it’s more important than ever to #choosetochallenge.

In a sign of the times, the team will gather virtually, coming together from homes across the globe and even from onboard Celebrity Edge stationed in the Bahamas. Powerful voices contributing to this unique, industry-leading conversation include Captain Kate McCue, the first American female cruise ship captain, and Lisa Lutoff-Perlo, the first female President & CEO of Celebrity Cruises.

They will be joined by Chief Officer Rachel Arnold (UK); 2nd Officer Elizabeth Marami (Kenya); Chief Security Officer Mor «Mia» Segev (Israel); Hotel Director Niina Huataniemi; Assistant Hotel Director Milana Dortangs; Guest Relations Director Julie Sherrington (UK); and Cruise Director Sue Denning (UK).

«Making history with these women was quite extraordinary for our industry and an honor for me. It was a dream come true for all of us,» said Celebrity Cruises President and CEO Lisa Lutoff-Perlo. «Our mantra has been to use this time away from the water to come back stronger than ever and reuniting these incredible trailblazers is a sign of that. Together, we will continue to sail beyond conventional thinking and wisdom into a new world of opportunity.»

Around the world, only 2 percent of mariners are women. Celebrity Cruises catalzyed the maritime industry, leading it into a more diverse future and growing the number of women on their bridge teams from 3 percent to 28 percent, ultimately, making 2020’s historic WOMANned sailing onboard the award-winning Celebrity Edge possible. Now, as the company prepares to return to service this year, it is looking again to set new standards across the seven seas.

Join the conversation with these incredible leaders on International Women’s Day by tuning into Celebrity Cruise’s Facebook Watch Party at Noon ET on Monday March 8, 2021. During the airing of the conversation, Captain Kate will take over Celebrity Cruises’ Facebook page to take specific questions from the public and offer additional commentary.

About Celebrity Cruises:
Celebrity Cruises’ iconic «X» is the mark of a fleet of 14 award-winning ships redefining luxury cruise travel with cool, contemporary design and accommodation; dining, spa and entertainment experiences for modern tastes; and culturally rich and diverse destination experiences, all complemented by warm, personalized service. Celebrity has pioneered many industry firsts at sea, including: the first use of solar panels on a cruise ship; the first to eliminate use of plastic water bottles; the first American female Captain of a cruise ship; the first-ever all-female bridge and officer team sailing; the first West African woman to work on the bridge of a cruise ship; and one of the first legal same-sex weddings performed at sea. Driven by wanderlust and a passion for opening the world, Celebrity journeys to all seven continents, visiting nearly 300 destinations in more than 70 countries. Celebrity Cruises is one of six cruise brands operated by global cruise company Royal Caribbean Group. (NYSE: RCL).

Celebrity Cruises is applying the recommendations of its Healthy Sail Panel of public health and scientific experts to provide a safer and healthier cruise vacation on all of its sailings. Health and safety protocols, regional travel restrictions and clearance to visit ports of call, are subject to change based on ongoing evaluation, public health standards, and government requirements. U.S. cruises and guests: For more information on the latest health and travel alerts, and U.S. government travel advisories, please visit CelebrityCruises.com/travel-alert or consult travel advisories, warnings or recommendations relating to cruise travel on applicable government websites.

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SOURCE Celebrity Cruises

Kia Telluride Wins 2021 Kelley Blue Book Best Resale Value Award

IRVINE, Calif., March 5, 2021 /PRNewswire-HISPANIC PR WIRE/ — The Kia Telluride has won the 2021 Kelley Blue Book Best Resale Value Award in the 3-Row Midsize SUV category.  The award recognizes models with the lowest depreciation among competitors during the first five years of vehicle ownership.  Depreciation is often the most significant yet unexpected cost incurred during ownership of a vehicle and can impact overall value.

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IRVINE, Calif., March 5, 2021 /PRNewswire-HISPANIC PR WIRE/ — The Kia Telluride has won the 2021 Kelley Blue Book Best Resale Value Award in the 3-Row Midsize SUV category.  The award recognizes models with the lowest depreciation among competitors during the first five years of vehicle ownership.  Depreciation is often the most significant yet unexpected cost incurred during ownership of a vehicle and can impact overall value.

Kia Telluride Wins 2021 Kelley Blue Book Best Resale Value Award.

«It is an honor that our Telluride has received a Best Resale Value Award from Kelley Blue Book, a trusted resource for consumers looking to make the right buying decisions,» said Sean Yoon, president & CEO, Kia Motors North America, Kia Motors America. «The Telluride delivers world-class design, quality, and technology, but is also the embodiment of the value proposition Kia delivers across our entire model line.»

Kelley Blue Book’s Best Resale Value Awards are established through the analysis of statistical models built upon millions of purchase transactions. Vehicles that earn the highest five-year residual values, expressed as a percentage of their original Manufacturer’s Suggested Retail Price (MSRP), are selected for these prestigious awards.

«Since its arrival in 2019, the Kia Telluride has triggered a flood of interest from consumers due to its attractive styling and standard features,» said Eric Ibara, director of residual values for Kelley Blue Book. «The high demand for this SUV, combined with low incentives and competitive prices contributed to the Telluride’s highest-in-segment 60-month residual forecast.»

For more information about Kelley Blue Book’s Best Resale Value Awards, visit https://www.kbb.com/best-cars/best-resale-value-cars-trucks-suvs/.

About Kia Motors America
Headquartered in Irvine, California, Kia Motors America continues to top quality surveys and is recognized as one of the 100 Best Global Brands. Kia serves as the «Official Automotive Partner» of the NBA and offers a complete range of vehicles sold through a network of more than 750 dealers in the U.S., including cars and SUVs proudly assembled in West Point, Georgia.*

For media information, including photography, visit www.kiamedia.com. To receive custom email notifications for press releases the moment they are published, subscribe at www.kiamedia.com/us/en/newsalert.

*The Telluride, Sorento and K5 are assembled in the United States from U.S. and globally sourced parts.

# # #

Kia Motors America Logo

Photo – https://mma.prnewswire.com/media/1450767/KIA___Telluride_Nightfall_Edition.jpg

Logo – https://mma.prnewswire.com/media/812837/Kia_Motors_America_Logo.jpg

SOURCE Kia Motors America

Kia Telluride Wins 2021 Kelley Blue Book Best Resale Value Award

IRVINE, Calif., March 5, 2021 /PRNewswire/ — The Kia Telluride has won the 2021 Kelley Blue Book Best Resale Value Award in the 3-Row Midsize SUV category.  The award recognizes models with the lowest depreciation among competitors during the first five years of vehicle ownership.  Depreciation is often the most significant yet unexpected cost incurred during ownership of a vehicle and can impact overall value.

IRVINE, Calif., March 5, 2021 /PRNewswire/ — The Kia Telluride has won the 2021 Kelley Blue Book Best Resale Value Award in the 3-Row Midsize SUV category.  The award recognizes models with the lowest depreciation among competitors during the first five years of vehicle ownership.  Depreciation is often the most significant yet unexpected cost incurred during ownership of a vehicle and can impact overall value.

Highest-in-segment 60-month residual value forecast makes Telluride more attractive than ever to those shopping for a new SUV.

«It is an honor that our Telluride has received a Best Resale Value Award from Kelley Blue Book, a trusted resource for consumers looking to make the right buying decisions,» said Sean Yoon, president & CEO, Kia Motors North America, Kia Motors America. «The Telluride delivers world-class design, quality, and technology, but is also the embodiment of the value proposition Kia delivers across our entire model line.»

Kelley Blue Book’s Best Resale Value Awards are established through the analysis of statistical models built upon millions of purchase transactions. Vehicles that earn the highest five-year residual values, expressed as a percentage of their original Manufacturer’s Suggested Retail Price (MSRP), are selected for these prestigious awards.

«Since its arrival in 2019, the Kia Telluride has triggered a flood of interest from consumers due to its attractive styling and standard features,» said Eric Ibara, director of residual values for Kelley Blue Book. «The high demand for this SUV, combined with low incentives and competitive prices contributed to the Telluride’s highest-in-segment 60-month residual forecast.»

For more information about Kelley Blue Book’s Best Resale Value Awards, visit https://www.kbb.com/best-cars/best-resale-value-cars-trucks-suvs/.

About Kia Motors America
Headquartered in Irvine, California, Kia Motors America continues to top quality surveys and is recognized as one of the 100 Best Global Brands. Kia serves as the «Official Automotive Partner» of the NBA and offers a complete range of vehicles sold through a network of more than 750 dealers in the U.S., including cars and SUVs proudly assembled in West Point, Georgia.*

For media information, including photography, visit www.kiamedia.com. To receive custom email notifications for press releases the moment they are published, subscribe at www.kiamedia.com/us/en/newsalert.

*The Telluride, Sorento and K5 are assembled in the United States from U.S. and globally sourced parts.

# # #

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SOURCE Kia Motors America

United States Electric Commercial Vehicle Market Report 2021: Medium/Heavy-Duty truck and Bus Markets to Recover Following a Major Dip in 2020 Due to COVID-19

DUBLIN, March 5, 2021 /PRNewswire/ — The «Technology Innovation Driving the…

DUBLIN, March 5, 2021 /PRNewswire/ — The «Technology Innovation Driving the Transformation of the US Electric Commercial Vehicle Market» report has been added to ResearchAndMarkets.com’s offering.

Research and Markets Logo

The medium-duty and heavy-duty truck and bus markets in the US are expected to show strong recovery following the major dip in 2020 due to the dire impacts of the COVID-19 crisis on production and sales.

However, the crisis is forecast to have a relatively lower impact on the electric truck and bus markets. The electric bus segment shows a slight decline, whereas the electric truck market reflects a slight increase. The increase in electric truck sales can be attributed to the nascent market stage and previous orders.

Post-2021, the electric bus and electric truck segments in the US are expected to record significant growth owing to government initiatives aimed at reviving the economy from the crisis. The electric truck and bus markets are expected to grow at a CAGR of 148.5% and 44.9%, respectively, from 2020-2026.

The establishment of low-emission zones, stringent emissions norms, the ultra-low NOx regulations will aid this growth. Technology developments effectively reducing the total cost of ownership (TCO) of electric commercial vehicles are among the key factors driving the exponential growth and adoption of these vehicles. Volatility in crude oil prices and the need for clean transportation solutions, especially in the urban environment, will propel the transit bus and medium-duty truck segments in the US.

The electric commercial vehicle market also faces serious competition from alternative fuel-powered vehicles, which are gaining prominence. Natural Gas (CNG and LNG) commercial vehicles are projected to witness higher adoption in the short and medium terms; however, this will have a much lower impact on electrification with the growth in charging infrastructure and reduction in the acquisition costs of electric commercial vehicles.

Commercial vehicle OEMs in the US are moving toward electrification in a big way because of the increased presence of other global manufacturers in the market. The US electric commercial market is also home to innovative startups challenging established OEMs, creating a flourishing competitive environment.

Key Topics Covered:

1. Strategic Imperatives

  • Why is it Increasingly Difficult to Grow?
  • The Strategic Imperative
  • The Impact of the Top Three Strategic Imperatives on the Electric Commercial Vehicle Industry
  • Growth Opportunities Fuel the Growth Pipeline Engine

2. Growth Opportunity Analysis – Electric Commercial Vehicle Market

  • US Electric Commercial Vehicle Market Scope of Analysis
  • Research Background – Electric Commercial Vehicle Market
  • Research Methodology – Electric Commercial Vehicle Market
  • US Electric Commercial Vehicle Market Segmentation
  • Powertrain Technology Segmentation – Electric Commercial Vehicle Market
  • Key Competitors for the US Electric Commercial Vehicle Market
  • Growth Drivers for the Adoption of Electric Commercial Vehicles
  • Growth Restraints for the Adoption of Electric Commercial Vehicles

3. Market Overview – Electric Commercial Vehicle Market

  • 2019 Market Snapshot – Electric Trucks: Electric Commercial Vehicle Market
  • Sales by Model and OEM – Electric Trucks: Electric Commercial Vehicle Market
  • 2019 Market Snapshot – Electric Buses: Electric Commercial Vehicle Market
  • Sales by Model and OEM – Electric Buses: Electric Commercial Vehicle Market
  • Unit Shipment Forecast by eCV Type – Electric Commercial Vehicle Market
  • Unit Shipment Forecast by xEV Type – Electric Commercial Vehicle Market

4. Incentives and Subsidies – Electric Commercial Vehicle Market

5. Charging Infrastructure Analysis – Electric Commercial Vehicle Market

  • Factors Driving EV Infrastructure – Electric Commercial Vehicle Market
  • Types of Charging Solutions – Electric Commercial Vehicle Market
  • Charger Socket Types – Electric Commercial Vehicle Market
  • Charging Capacity vs Time – Electric Commercial Vehicle Market
  • Technology Roadmap – Electric Commercial Vehicle Market
  • Charging Infrastructure Standards Comparison – Electric Commercial Vehicle Market
  • Overview of US Charging Infrastructure Incentives – Electric Commercial Vehicle Market
  • Overview of Charging Infrastructure Programs – Electric Commercial Vehicle Market
  • Use Case Analysis for Charging Types – Electric Commercial Vehicle Market
  • Charging Infrastructure Demand Forecast Assumptions – Electric Commercial Vehicle Market
  • Supply Equipment Demand Forecast – Electric Commercial Vehicle Market
  • Charging Stations – Demand Forecast by Charging Type and Region: Electric Commercial Vehicle Market

6. Growth Opportunity Analysis – Electric Trucks

  • Key Growth Metrics for Electric Trucks
  • Medium-Duty and Heavy-Duty Electric Trucks – Current Models
  • Medium-Duty and Heavy-Duty Electric Trucks – Future Models
  • Unit Shipment Forecast – Medium-Duty Electric Trucks
  • Unit Shipment Forecast – Heavy-Duty Electric Trucks
  • Unit Shipment Forecast Analysis – Electric Trucks
  • Competitive Environment – Electric Trucks
  • Market Share Forecast – Electric Trucks

7. Growth Opportunity Analysis – Electric Buses

  • Key Growth Metrics for Electric Buses
  • Medium-Duty and Heavy-Duty Electric Buses – Current Models
  • Medium-Duty and Heavy-Duty Electric Buses – Future Models
  • Unit Shipment Forecast – Medium-Duty Electric Buses
  • Unit Shipment Forecast – Heavy-Duty Electric Buses
  • Unit Shipment Forecast Analysis – Electric Buses
  • Competitive Environment – Electric Buses
  • Market Share Forecast – Electric Buses

8. Growth Opportunity Universe – Electric Commercial Vehicle Market

  • Growth Opportunity 1: Widening the Electric Commercial Vehicle Product Portfolio to Compete with Conventional Fuel-Powered Commercial Vehicles

9. Next Steps

For more information about this report visit https://www.researchandmarkets.com/r/zetbdz

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

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SOURCE Research and Markets

MVHS Receives $50 Million Gift from the Wynn Family Foundation

UTICA, N.Y., March 5, 2021 /PRNewswire/ — The Mohawk Valley Health System (MVHS) today announced that it has received a $50 million major gift from the Wynn Family Foundation that will further transform healthcare in the Mohawk Valley.

<a href="https://mma.prnewswire.com/media/1450752/Mohawk_Valley_Health_System_Rendering_1.html" target="_blank"…

UTICA, N.Y., March 5, 2021 /PRNewswire/ — The Mohawk Valley Health System (MVHS) today announced that it has received a $50 million major gift from the Wynn Family Foundation that will further transform healthcare in the Mohawk Valley.

The gift – the largest in MVHS’s history – will directly support services for the new regional medical center in downtown Utica and allow MVHS to invest in innovation, technology and services beyond what was originally possible. In recognition of the Wynn family’s contribution, the regional medical center will be named The Wynn Hospital.

«This is an incredibly generous gift – one that will make an impact on thousands upon thousands of Mohawk Valley residents each year,» said Darlene Stromstad, FACHE, president and CEO of MVHS. «The funds will elevate The Wynn Hospital to greater heights and result in important service enhancements and lifesaving outcomes. I can’t thank the Wynn family enough for making this level of investment in the region, its people, its local families and its crucially important healthcare. This gift will have a lasting legacy on the Mohawk Valley.»

This momentous gift is intended to improve upon the healthcare services in the broader community, to include those within the new hospital, enhancements that would otherwise not be possible. It was the intention of the Wynn family to leave a lasting legacy of state-of-the-art healthcare on the community where it all started for Steve Wynn.

«Our family has deep roots in Utica,» said Steve Wynn. «I have everlasting and fond memories of my childhood in the community, which provided a strong foundation for the rest of my life. This is my way of thanking the community and recognizing my parents.» The Wynns are frequent visitors to this region of New York State. Andrea Wynn is president of The Wynn Family Foundation.

«This is our way of giving back to the people of the Mohawk Valley,» said Steve Wynn. «At the same time, we are committed to advancing healthcare through philanthropy. MVHS has a bold plan for The Wynn Hospital – a plan that we believe in. We are proud to make this gift to advance the project even further and help ensure better health outcomes and an enhanced quality of life for the community.»

Expected to open in 2023, The Wynn Hospital will provide:

  • State-of-the-art care. The Wynn Hospital will bring to the region a new level of surgical services through the Center for Surgical Innovation; cardiac care at the leading edge of medicine through the new Heart Center; integrated medical and surgical services for brain and spine care through the Neurosciences Institute; and a program that meets the needs of women and children through the Women’s and Children’s Center.
     
    Additionally, The Wynn Hospital’s new emergency room will include 63 treatment rooms and specialized care for trauma, behavioral health, and other emergent and lifesaving needs; its new ER design will support 90,000 visits per year. The hospital throughout will feature an innovative team-station approach to nursing; nurses at each team station will oversee the needs of just four patients, fostering stronger connections and allowing for more individualized care.
     
  • A better experience for patients and families. The healing environment will be greatly improved at The Wynn Hospital: every patient will have a private room with a window and technologies to minimize sound, offering more comfort, natural light and confidentiality. Separate patient, visitor and service elevators will also ensure privacy and dignity for patient transport.
     
  • More – and more specialty – physicians in the Mohawk Valley. MVHS will expand its graduate medical education and residency programs at the new The Wynn Hospital. By developing a medical school affiliation with Lake Erie College of Osteopathic Medicine, expanding the existing primary care residency program, and establishing residencies in psychiatry, OB/GYN, emergency medicine, and general surgery, MVHS will significantly increase its capacity to recruit physicians to the region. More than 130 medical students and resident physicians are expected to study and practice at The Wynn Hospital each year.
     
  • Benefits to the greater community, including an estimated $115 million economic impact on the Mohawk Valley region during construction. MVHS expects to employ 3,000 to 3,500 healthcare professionals at the hospital when it is completed. Already, the project has brought infrastructure improvements to the area, contributing to the redevelopment and revitalization of downtown Utica.

MVHS was awarded a $300 million grant from New York State in 2017 to create an integrated healthcare delivery system in Oneida County and broke ground on the downtown Utica site in December 2019. The 25-acre campus of The Wynn Hospital – which consolidates the area’s two aging acute-care hospitals – will include a 703,000-square-foot, 10-story facility; a central utility plant; and a parking garage.

«This community deserves forward-looking healthcare,» said Bonnie Woods, chair of the MVHS Board of Directors. «After years of planning, a world-class medical campus is just around the corner. I am proud of everyone who has made this project a reality and grateful to the Wynns for recognizing the transformational impact of our future regional medical center.»

«The Wynn Family and our capital campaign co-chairs, Linda Romano and Larry Gilroy, share a simple, yet powerful, vision: philanthropy changes lives,» said John Forbes, Vice President, MVHS Foundation. «This partnership with the Wynns will do that and more. It will help attract and retain skilled physicians, set a new standard for excellence in healthcare, and inspire others to give back in service of our mission.»

President of the MVHS Foundation Board, Terry Mielnicki, says, «This is truly a remarkable time for this community and this gift will help us provide exceptional healthcare in this region for many years to come.»

MVHS and the Wynn Family Foundation plan to unveil branding for the new The Wynn Hospital in early-to-mid 2021.

About MVHS
MVHS is an integrated, non-profit healthcare delivery system that includes St. Elizabeth Medical Center (SEMC), Faxton St. Luke’s Healthcare (FSLH), MVHS Rehabilitation and Nursing Center, Visiting Nurse Association of Utica and Oneida County and Senior Network Health. MVHS primarily serves the geographic area of Oneida, Herkimer and Madison counties in New York State and is an integrated delivery system with more than 4,200 full-time equivalent employees. The Wynn Hospital will be joining these other affiliates as part of MVHS. For more information, visit mvhealthsystem.org and find us on Facebook, LinkedIn and Instagram.

Contact:

Caitlin McCann
Vice President
315-624-5433
cmccann@mvhealthsystem.org

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SOURCE Mohawk Valley Health System

Miami Seaquarium Kicks Off The Spring Break Season With More Days To Learn & Play

MIAMI, March 5, 2021 /PRNewswire-PRWeb/ — Miami Seaquarium, South Florida’s best aquarium and favorite family visitor attraction, will extend operating days for three weeks during spring break, starting March 11.

Miami Seaquarium has safely welcomed guests back since early November despite the ongoing COVID-19 pandemic. Beginning Thursday, March 11, MSQ will be open daily until <span…

MIAMI, March 5, 2021 /PRNewswire-PRWeb/ — Miami Seaquarium, South Florida’s best aquarium and favorite family visitor attraction, will extend operating days for three weeks during spring break, starting March 11.

Miami Seaquarium has safely welcomed guests back since early November despite the ongoing COVID-19 pandemic. Beginning Thursday, March 11, MSQ will be open daily until April 4, to provide an educational yet fun experience for families look to explore during the spring break period. Miami Seaquarium continues to focus on health and safety through a series of measures aligned with recommendations from the Centers for Disease Control and Prevention. The Seaquarium has seen steady crowds since reopening, an encouraging sign after being closed for more than half of 2020.

«We are so thankful for the support from the local Miami community over the last several months, said General Manager Bill Lentz. «With conditions improving locally, we can expand our operating hours to provide more opportunities to visit while schools are out for spring break.»

Visitors can learn about Miami Seaquarium’s historic animal rescue and rehabilitation program, viewing recently rescued manatees and sea turtles receiving attention from the Animal Care team. There’s also baby Mia, the dolphin calf born in October and named after her hometown!

Easter celebrations will also begin in March. This year guests will find a new, health-conscious scavenger hunt around the Seaquarium! Explorers will receive a treasure map that will lead them on an educational yet very fun adventure throughout the park. Sea explorers will then have to follow each egg-citing clue which will lead them to the biggest treasure of all, «Salty’s Easter Goodies.» Scavenger hunt is included with park admission. Complimentary goodie bag will be given to children 12 and under who complete the scavenger hunt.

For more information, please visit www.MiamiSeaquarium.com or call 305-361-5705.

About Miami Seaquarium & Palace Entertainment
Miami Seaquarium is a marine life park, located on the beautiful Biscayne Bay in South Florida that provides visitors with a greater understanding and appreciation for marine life through educational presentations and exhibits. The Park is an accredited member of the Alliance of Marine Mammal Parks and Aquariums and has been awarded the coveted Humane CertifiedTM certification, reinforcing Miami Seaquarium’s commitment to exceeding the standards of excellence for marine mammal care, husbandry, conservation and education. Miami Seaquarium is owned and operated by Palace Entertainment, one of the leading US leisure park operators

Palace Entertainment is one of the leading leisure park operators in the United States and is owned by Parques Reunidos. Palace Entertainment owns and operates 21 major entertainment and educational venues across 10 different states, offering a wide range of family friendly rides, attractions and educational experiences.

Media Contact

Alexa Login, Miami Seaquarium, 305-365-2525, alogin@msq.cc

 

SOURCE Miami Seaquarium