Business: Page 128

ADAS
Delving into Digital: 3M Announces ‘strategic investment’ in asTech
St. Paul, Minnesota ⁠— 3M has invested in asTech, citing a “continued commitment to advanced the digitization” of the aftermarket supplies giant, the companies announced Tuesday. Terms of the deal were not disclosed.  “The 3M Ventures strategic investment in Repairify [asTech’s parent company] enables us to accelerate our solutions and offerings across the entire automotive […]
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Products
Tuesday Ticker: February 23, 2020
Toronto, Ontario ⁠— In this week’s Tuesday Ticker, Magna shatters Q4 2020 Wall Street expectations, LKQ reports its fourth-quarter results and Toronto-based auto parts maker ABC Technologies makes its trading debut with a thinner-than-expected IPO. Magna makes moves Magna beat Wall Street expectations for its 2020 fourth-quarter net income, reporting a 68 percent increase to […]
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General News
EV/AV Report: February 22, 2021
Toronto, Ontario – In this week’s electric and autonomous vehicle report, Tesla continues to show its dominance in the EV market, Gatik unveiled its first run of electric autonomous box trucks and GM’s Advanced Technology Track is officially open for business in Oshawa, Ontario.   Market Dominance Ten EVs roll up to a traffic light; eight […]
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Collision Repair
Welcomes of the Week: ProColor Collision adds new location in Burlington, Ontario
Burlington, Ontario – The Fix Network family tree just discovered a new branch in Burlington, Ontario, with the addition of the latest shop to join the ProColor banner. Owners Raghbir Rangi and Abhijit “Abhi” Gill have been running their shop independently for the last 18 years and have finally decided to integrate themselves into the […]
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Collision Repair
People Pleasers: Hyundai Canada releases four years of customer reviews
Markham, Ontario – As part of a project four years in the making, Hyundai Canada has compiled nearly 87,000 independently submitted customer reviews of their vehicles and are pretty pleased with what they found. “Of those reviews, 40,985 owners have given their vehicles an overall score of 10/10, while 23,208 owners have scored their vehicles […]
hyundai
Products
Through the Storm: Uni-Select reports 2020 full year financial results, says automotive aftermarket businesses fared better than refinish business
Boucherville, Québec — Uni-Select has reported its financial results for Q4 2020 and the year ended Dec. 31, 2020. According to the company, Sales for 2020 were down 15 percent, with performance largely impacted by the pandemic. Sales for 2020 Q4 were down 11.2 percent compared to the same quarter in 2019—“in line with those […]
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Meeting your Match: CrashBay launches search engine to connect drivers to shops
Oakville, Ontario – Finding the right shop for your vehicle’s repairs is as important a relationship as any, and Oakville, Ontario-based company, Crash Bay, is poised to play matchmaker with the launch of their new collision centre search engine. The automotive e-commerce company first launched CrashBay in 2019, and now with the updated ability to […]
crashbay
Business News – CRM 20#1
DRIVEN TO MARKET Driven Brands, the owners of CARSTAR, Maaco, Meineke, Fix Auto USA and several other auto service companies, is looking to raise up to $760 million through an initial public offering (IPO)—which would value the company at about $3.4 billion (all figures in USD). Driven Brands plans to sell 38 million shares of […]
BUSINESS NIBS
Li-Cycle Listed: Ontario battery recyclers files to go public on NYSE
Mississauga, Ontario – Li-Cycle is raising funds for global expansion by going public on the New York Stock Exchange (NYSE) in a deal that values the battery recycler at US$1.7 billion, the company announced Tuesday. The five-year-old private company has unveiled plans to merge with Peridot Acquisition Corp., an NYSE-listed special acquisition corporation (SPAC). If […]
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COVID-19: Hail repair hurdles
Calgary, Alberta — The pandemic has created some barriers to repairing vehicles and property damage, including a shortage of autobody parts and labour, due to the Canada Emergency Response Benefit (CERB) recipients who are reluctant to return to work, panellists said Wednesday during Canada’s Catastrophe Conference (CATIQ Connect) February webinar.  COVID-19 has made it more […]
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‘Certainty Starts Here:’ GM campaign highlighting the importance of OE parts
Markham, Ontario — General Motors Customer Care and Aftersales has taken the next step in its global rebranding initiative with the launch of a new marketing campaign, designed to strengthen GM Genuine Parts and ACDelco brands.  “This marketing campaign is the next step in our journey to drive a focused, disciplined strategy for GM’s maintenance […]
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Tuesday Ticker: February 16, 2021
Toronto, Ontario ⁠— In this week’s Tuesday Ticker, Toyota continues its record-breaking results for 2020, Uber reports losses offset by food deliveries and Elon Musk’s brother and Tesla board member gives up a portion of his Tesla shares. Toyota at the top Toyota has reported that its quarterly operating profit rose to 987.9 billion yen […]
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