Aftermarket Strong: DesRosiers reports 5.6 percent repair price increase in 2022; says aftermarket in for ‘another strong year’
Toronto, Ontario — DesRosiers Automotive Consultants (DAC) has released its latest Automotive Aftermarket scorecard, reporting increased repair costs and increased retail sales figures to auto parts in 2022, as well as expectations for “strong [aftermarket] growth” in 2023. With parts shortages “widespread throughout the year,” writes DAC, the customer price index for passenger vehicle maintenance […]
Tuesday Ticker: Bullish analyst downgrades Rivian; Mercedes-Benz opens Canadian raw materials office
Toronto, Ontario — In this weekly Tuesday Ticker, Rivian sees a 76 percent downgrade from a known bullish market analyst; an advocacy group questions Uber’s average pay in Toronto and Mercedes-Benz opens a raw materials office to pursue EV battery mineral sources. Reluctant on Rivian Shares of Rivian Automotive have fallen 10 percent since Mar. […]
Tuesday Ticker: PPG says first-quarter EPS will be higher than previous guidance; Rivian maintains annual production expectations
Toronto, Ontario — PPG raises its guidance for Q1 2023 earnings thanks to stronger automotive OEM coatings sales performances, while Rivian reassures investors and analysts in this weekly Tuesday Ticker. PPG pumps it up PPG upped its guidance for first-quarter adjusted profit to between US$1.52 per share and US$1.58 per share, thanks to “stronger sales […]
Drive Yourself: Ford withdraws request to develop fully autonomous cars
Detroit, Michigan — Ford has withdrawn its petition to develop Level 4 autonomous driving systems with it National Highway Traffic Safety Administration (NHTSA), the legacy automaker announced on March 30. The automaker told the NHTSA said the decision to cancel the request coincides with the closure of its Argo AI self-driving venture last summer. “As […]
A Shocking Trio: Tesla, GM, Ford top three in first-quarter American EV sales
Detroit, Michigan —Tesla knocked the second- and third-best-selling EV makers out of the water when it came to Q1 2023 sales numbers. Tesla says it delivered a record 422,875 units in Q1 2023. General Motors, with record-setting Chevy Bolt numbers, posted 19,700 unit sales—hot off 2022 recalls. The Cadillac Lyriq and Hummer EVs were less […]
Tuesday Ticker: Tesla breaks record for most quarterly deliveries; AutoCanada and Kijiji expand partnership
Toronto, Ontario — In this weekly Tuesday Ticker, Tesla beats Wall Street’s expectations for its Q1 2023 results, while AutoCanada and Kijiji announce and expansion of their partnership. Tesla beats expectations Tesla reported Q1 2023 production and delivery results Monday morning, beating analyst expectations and setting new records Tesla says it produced 440,808 new vehicles […]
Tuesday Ticker: No profit in Ford EV unit until 2026; Tesla shares rise amid Wall Street predictions
Toronto, Ontario — This weekly Tuesday Ticker is electric, as Ford bares all on its Model e EV unit and Tesla sees a Monday morning boost, courtesy of Wall Street predictions. Ford’s future flub Ford does not expect its electric vehicle (EV) unit to be profitable until 2026, the OEM said last Thursday. Known as […]
Up and At ’Em: Boyd Group reports 23.4 percent profit growth in Q4 2022
Winnipeg, Manitoba — The Boyd Group reported its Q4 2022 results earlier this week, stating net earnings of US$14.2 million during the fourth quarter, up from US$4.9 million a year earlier. Profit for Q4 2022 amounted to 66 cents (USD) per diluted share, up from 23 cents per diluted share in Q4 2021. For the […]
Enrolment Inefficiency: SAAQ sees glitches and significant delays following digital transformation
Quebec City, Quebec — The Société de l’assurance automobile du Québec (SAAQ) has been in the grips of a crisis following the provincial insurance board’s digital transition on Feb. 20, 2023. SAAQClic was supposed to move most transactions online, like renewing licenses or paying for driving exams. The transition has not been as smooth as […]
Tuesday Ticker: Volkswagen to build St. Thomas, Ont. battery plant; Rivian and Amazon reconsider deal
Toronto, Ontario — In this weekly Tuesday Ticker, we’re covering Volkswagen’s announcement for a Canadian-bound battery plant, plus Rivian’s rumoured reconsideration regarding exclusivity agreements with retail giant Amazon. Setting up in St. Thomas Volkswagen has chosen St. Thomas, Ont. as the site of its first-ever North American battery cell manufacturing plant. The company and its […]
