Big at Boyd: Boyd Group added 21 collision centres in Q3 2023, according to financial results
Winnipeg, Manitoba — Winnipeg, Manitoba-based Boyd Group Services reported its Q3 results on Friday, where the network said it added 21 locations to its portfolio during the quarter–17 via acquisition and four start-ups. The company reported 17.9 percent growth in sales, reaching $737.8 million compared to $625.7 million in the same period of the previous […]
Tuesday Ticker: Magna blows analysts’ minds; Toyota potentially seeks financial assistance
Toronto, Ontario — In this weekly Tuesday Ticker, Magna blows analyst expectations out of the water and sees shares jump almost 15 percent; while a government source teases that Toyota could soon seek Ottawa’s assistance in its shift to EV assembly. Magna’s shares move Magna saw its shares surge last Friday as the Aurora, Ont.-based […]
Tuesday Ticker: Tesla’s tearful earnings call; Toyota adopts standard
Toronto, Ontario — This week we look at automakers and economics as Tesla marks a tumultuous earnings call; Toyota adopts a standard and Hyundai breaks records with its plans to break ground. Tears for Tesla Tesla’s Q3 earnings call last week did not entirely go as planned, according to reports that CEO Elon Musk was […]
Driving Demand: Vehicle complexity, aging cars among factors contributing to ‘robust’ aftermarket demand
Washington, D.C. — An aging car parc, ever-increasing miles-travelled and greater vehicle complexity will continue to drive robust demand across the automotive aftermarket through 2024, according to the recently-released Capstone Partners Automotive Aftermarket M&A Coverage Report October 2023. Capstone’s report states that an “aging [U.S.] car parc, growing miles travelled and increased vehicle complexity have […]
Tuesday Ticker: Tesla misses targets, Rivian marks delivery records
Toronto, Ontario — Analysts were off in their estimates in predictions for both Tesla and Rivian’s delivery numbers–but for different reasons. See the ups and downs in this weekly Tuesday Ticker. Tesla misses targets–but still delivers Tesla missed market estimates for its Q3 2023 deliveries, which analysts believe is due to mass production halts and shutdowns […]
Tuesday Ticker: 54 percent votes in favour of Unifor-Ford deal; CADA teases progress in ZEV mandate talks with government
Toronto, Ontario — In this weekly Tuesday Ticker economics report, we delve into some of the details of Ford and Unifor’s recently ratified agreement, while the Canadian Automobile Dealers Association teases potential progress in conversations with the federal government re: ZEV mandates. Fifty-four percent in favour The tentatively struck agreement made between Unifor and Ford […]
Tuesday Ticker: AutoCanada settles outstanding litigation; Volvo plans to lay off 10 percent of workforce
Toronto, Ontario — In this weekly Tuesday Ticker economics report, AutoCanada resolves a four-year dispute with its former CEO and chairman, while Volvo announces extensive job cuts in North America. Resolution reached AutoCanada and CanadaOne Auto Group announced today that they have agreed to resolve the legal proceedings between AutoCanada, Patrick Priestner and CanadaOne Auto […]
Tuesday Ticker: VinFast drops, Rivian hires seasoned pro
Toronto, Ontario — In this weekly Tuesday Ticker, VinFast’s share prices dropped almost as much as they grew when the stock first dropped; while Rivian hires a seasoned OEM exec as it buckles down for a busy few months. They rise, they fall VinFast shares exploded when the electric automaker began trading on Nasdaq in […]
Welcome to the Week: CSN Carrosserie Nordique joins the CSN Collision network
Québec City, Québec– CSN continues its expansion in Quebec by adding CSN Carrosserie Nordique–located in Saint-Isidore-de-Laprairie, Quebec–to its growing network of leading collision centres. Sébastien Tremblay, owner of CSN Carrosserie Nordique, says: “Having always been passionate about cars, both their mechanics and their bodywork, we found ourselves in a field that we’re passionate about, and […]
Four Stores: CARSTAR franchisees quadruple store count with purchase of Piedmont, Lafontaine, St-Jérôme locations
Hamilton, Ontario – CARSTAR, North America’s premier network of independently owned collision repair facilities, has announced the resale of CARSTAR Lafontaine, CARSTAR St-Jérôme and CARSTAR Piedmont to recent franchisees and owners of CARSTAR St. Eustache, Simon Anderson and Stéphane Roussy. Stéphane Roussy, now a CARSTAR MSO, stated that he is “very pleased to continue working […]
