Shifting Gears: Advance Auto Parts looking to sell Worldpac in Q2, says CEO
Toronto, Ontario — During the fourth quarter and full-year results call for 2023, Advance Auto Parts CEO Shane O’Kelly provided information on the potential sale of its Worldpac and its Canadian business, operating as Carquest Canada. O’Kelly specifically emphasized in an official release that Advance is still officially referring to the Worldpac and Canadian business […]
Tuesday Ticker: Fisker pauses production, aims to raise US$150 million in funds; while Ont. Premier teases ‘banner year’ for auto industry
Toronto, Ontario — In this weekly economics report, Fisker announces its plan to pause EV production amid bankruptcy rumours and other financial decisions from the company, while Ontario Premier Doug Ford teases a “banner year” for the industry, thanks to jobs in the EV supply chain. Fisker’s finances Electric vehicle maker Fisker is pausing EV […]
Signed and Sealed: SATA completes Dan-Am integration
Spring Valley, Minnesota — A recent LinkedIn post made by SATA notes the successful integration of the Dan-Am Company into SATA USA Inc. This integration was legally completed on March 1, and with this successful signing, the employees of the former importer for the USA and Puerto Rico are now officially a part of the […]
Tuesday Ticker: Elon Musk disagrees with attorneys; Martinrea marks Q4 2023 numbers
Toronto, Ontario — In this weekly Tuesday Ticker, Elon Musk is told he does not deserve a share payout for his work with Tesla, while Martinrea reports its financials for the quarter ended Dec. 31, 2023. Touchy topics at Tesla A Tesla shareholder argued last week in a Delaware, U.S., court that Elon Musk does […]
Magnate Moves: Domenic Ieraci featured in Business Magnate magazine
Toronto, Ontario — Domenic Ieraci, President of Simplicity Car Care, has been featured in Business Magnate Magazine as one of Canada’s Most Influential Entrepreneurs Establishing a Strong Global Presence in 2024. Ieraci’s journey into the automotive industry began at a young age, growing up within a family deeply entrenched in the collision repair business. After […]
Tuesday Ticker: Rivian hits new low; Stellantis vows to never buy regulatory emissions credits
Toronto, Ontario — In this weekly Tuesday Ticker, Rivian disappoints analysts and investors with Q4 and full-year 2023 results, while Stellantis execs discuss the OEM’s vow to never buy a single regulatory credit to meet emissions regulation goals. Rough waters for Rivian Shares of Rivian reached new lows last Thursday after the EV maker reported […]
Up, Up and Away: LKQ reports full-year 2023 revenues up 8.4 percent; Uni-Select acquisition ‘ahead of schedule’
Chicago, United States — LKQ has reported its Q4 2023 and full-year 2023 financial results, with annual revenues up 8.4 percent over 2022, ringing in at US$13.9 billion. Fourth-quarter revenues were US$3.5 billion, a 16.6 percent increase compared to Q4 2022. For the full year 2023, parts and service organic revenue increased 4.7 percent; foreign […]
Tuesday Ticker: Tesla rakes in regulatory credit cash from other automakers; Stellantis sees significant profit drops
Toronto, Ontario — It’s eyes on automakers in this weekly Tuesday Ticker as Tesla rakes in cash from other automakers, while Stellantis reveals that profits fell 10 percent in the latter half of 2023 due to United Auto Workers strike action. Regulatory revenues Tesla continues to earn funds in regulatory credit revenue, despite the OEM’s […]
Collision Kings launches sale and investment solicitation process to sell all or part of Alberta-based MSO
Calgary, Alberta — Alberta-based multi-shop operator (MSO) Collision Kings has launched a sale and investment solicitation process after the company sought and obtained protection under the Companies’ Creditors Arrangement Act (CCAA) pursuant to an order granted by the Court of King’s Bench of Alberta. FTI Consulting Canada was appointed as Monitor for the CCAA proceedings, […]
Tuesday Ticker: PPG, Axalta, AkzoNobel report Q4 and full-year 2023 results
Toronto, Ontario — This weekly Tuesday Ticker is focused on coatings performance for Q4 and full-year 2023. Check out earnings and reports from PPG, Axalta and AkzoNobel in this week’s feature. PPG marks more records PPG reported record fourth-quarter sales for 2023, with net sales of $4.4 billion, up four percent year-over-year. For the full […]
