Tuesday Ticker: Magna lowers 2024 guidance; Ford to hit the ‘lower end’ of 2024 earnings forecast, automaker warns
Toronto, Ontario — In this weekly Tuesday Ticker, Magna reports better-than-expected Q3 financials—yet still lowers its guidance amid global vehicle production slumps. Meanwhile, Ford warns investors that it will hit the ‘lower end’ of predicted earnings in 2024. Production problems Shares of Magna International rose 7.8 percent following better-than-expected Q3 2024 results—though the Ontario-based auto […]
Tuesday Ticker: Waymo earns US$5.6 billion in latest investment round; Boyd to release Q3 results Nov. 5
Toronto, Ontario — In today’s Tuesday Ticker, autonomous ride service Waymo marks US$11 billion in total capital raised following its latest investment round. Plus, Boyd Group Services sets the date for its Q3 2024 financial results. Woohoo for Waymo Self-driving robotaxi company Waymo has closed a US$5.6 billion funding round—the largest investment in the company’s […]
Tuesday Ticker: Tesla unveils its robotaxi; while Polestar announces plans to ‘actually sell cars’
Toronto, Ontario — In this weekly Tuesday Ticker, Tesla unveils its fully autonomous robotaxi and leaves investors wanting more; while electric vehicle manufacturer Polestar plans to begin selling more vehicles via dealerships. Here comes the Cybercab Last Thursday, the launch of Tesla’s long-promised driverless taxi reportedly left investors with a desire for more details about […]
CrashBay Collaboration: Turo and Crashbay form partnership
Toronto, Ontario – Turo and CrashBay, the premier digital marketplace revolutionizing collision and car repair solutions for fleets and carriers, today announced their partnership aimed at streamlining the auto claims repair process for Turo hosts across the United States and Canada. This collaboration highlights both companies’ shared goal to simplify vehicle ownership and enhance the […]
Tuesday Ticker: EV demand influencing Volkswagen sales; Rivian misses Q3 delivery expectations, cuts production guidance
Toronto, Ontario — In this weekly Tuesday Ticker, Volkswagen mulls reasons for its decreased passenger car sales, while Rivian seeks loans and reduces its full-year production forecasts. Volkswagen on a tightrope Volkswagen’s passenger car sales are down more than one full percentage point, and EVs could have something to do with it. In early September, […]
Throwback Thursday, Circa 2010: Assured Automotive delivers Habitat for Humanity home to deserving family
Toronto, Ontario — It’s time for another heartwarming Throwback Thursday segment! Collision Repair magazine has been bringing you industry-leading news for more than 20 years, and we have a photo archive with more than 40,000 images to showcase our time spent serving the industry. In this Throwback Thursday segment, we toss it back to 2010, […]
Lost at Sea: United States dockworkers strike expected to impact auto industry shipments
Washington D.C., United States — A strike at ports on the United States East and Gulf coasts could result in auto care industry losses of up to US$340 million per day. The strike involves 45,000 dockworkers across 36 American ports. The U.S.-based Auto Care Association is advising that the strike will make it difficult for […]
Regional Round-up: Fix Network hosts Ontario franchisees for regional meeting
Toronto, Ontario — Following successful regional meeting stops in Alberta and Quebec, Fix Network enjoyed two days with its Ontario franchise partners last week for its regional meeting in the province. The event kicked off Thursday, Sept. 26 at the Hilton Toronto Hotel, where guests indulged in a fantastic dinner and participated in an impactful […]
Tuesday Ticker: AutoCanada restructures RightRide division; Stellantis cuts profit outlook
Toronto, Ontario — In this weekly Tuesday Ticker, we look into AutoCanada’s decision to shutter more than half of its RightRide used vehicle sales and service locations. At the same time, Stellantis issues an altered profit guidance amid industry oversupply. Restructuring RightRide AutoCanada is restructuring its RightRide division, closing seven locations—more than half of the […]
Aubry and Arnott Advance: CCS announces leadership transition for Charles Aubry, Jason Arnott
Toronto, Ontario — Consolidated Collision Services (CCS), a division of Consolidated Dealers Co-Operative Inc. has announced that, going forward, Charles Aubry will assume the role of General Manager for the company, with Jason Arnott further assuming the role of Business and Operations Director for the West. “We are beyond excited to be able to promote […]
