Business: Page 57

Industry Conferences
Meet Mat: Incoming OARA Executive Director Mathieu Dagonas introduces himself to members
Toronto, Ontario – Mathieu Dagonas, the newly appointed executive director of the Ontario Association of Automotive Recyclers (OARA), recently hosted a virtual Meet and Greet via Zoom, drawing approximately 15 members from across the province. The event provided a platform for Dagonas to connect with OARA members in an informal setting, allowing him to share […]
Network
Welcoming Wilbert: ARA announces Eric Wilbert of Wilbert’s Premium Auto Parts as new president
Toronto, Ontario — The Automotive Recyclers Association (ARA) has announced the naming of Eric Wilbert of Wilbert’s Premium Auto Parts, Rochester, New York, as the new president of the association. Wilbert was formally confirmed as president during the association’s 81st annual convention and exposition in Reno, Nevada on October 24, 2024. According to reports from […]
Business
Record Reports: Axalta releases third quarter 2024 results; reports record net sales of $1.32 billion
Toronto, Ontario — Axalta Coatings has now released its third quarter financial results, noting a record net sales of $1.32 billion. According to a press release of the results, other highlights from the company’s third quarter include net income increases of 40 percent year over year to $102 million and a record adjusted EBITDA of […]
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Business
Quarter Comprehension: Boyd releases Q3 results; CEO Tim O’Day says ‘disappointed’ with results
Toronto, Ontario — On Wednesday, Boyd Group Services Inc. announced that sales increased by two percent to $752.3 million from $737.8 million in its third quarter results. Additionally, the financial quarter report noted that “the third quarter of 2024 recognized one additional selling and production day when compared to the same period of 2023, which […]
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Business
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 […]
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General News
Electric Losses: Ford projects a 2024 $5 billion loss for Model E in recent Q3 earnings results, among other EV challenges
Toronto, Ontario – Ford is reporting a 25 percent decrease in net income for Q3 2024, largely due to losses in its EV segment. The automaker reported net income of US$892 million for the quarter ended Sept. 30, 2024. This decline follows a previously anticipated US$1 billion charge to the automaker for its cancellation of […]
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Freshly Skilled: Tropicana celebrates 2020, 2021, 2022 collision repair pre-apprenticeship classes with lavish graduation
Toronto, Ontario — Tropicana Employment Services hosted its long-anticipated Collision Repair and Auto Body pre-apprenticeship graduation, where the not-for-profit honoured three classes of now-working apprentices. The celebration honoured three graduating classes—the classes of 2020 and 2021 had their originally scheduled ceremonies cancelled due to the pandemic—and was held at Centennial College’s event centre. The night […]
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 […]
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Metrics Matter: CARSTAR Canada hosts exclusive educational event at CARSTAR Downsview
Toronto, Ontario ⁠— On Wednesday, October 16, CARSTAR Canada hosted an exclusive educational event at CARSTAR Downsview, the latest location under the ownership of MGM Auto Group’s Mike Cherneta and Kapi Komera. Bill Davidge, CARSTAR Canada’s Director of Innovation and Technology, led a session focused on understanding metrics. Around 80 attendees joined, including personnel from collision […]
CARSTAR
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 […]
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Continental Connections: ARC and Auto Recycling World host latest global automotive recycling webinar under IRT banner
Toronto, Ontario — The Automotive Recyclers of Canada (ARC) and Auto Recycling World hosted the latest global auto recycling webinar under the International Roundtable on Auto Recycling (IRT) banner this week. During the event, 50 delegates from 14 countries gathered online to hear about automotive recycling and innovations in Australia, Japan and Asia. The webinar […]
Farewell to Fletcher: Matthieu P. Dagonas to take over as next OARA Executive Director
Toronto, Ontario — The Ontario Automotive Recyclers Association (OARA) has announced that after an exhaustive search, the organization has selected Mathieu P. Dagonas to serve as the next Executive Director. Dagonas will begin on October 7, 2024, working beside current Executive Director, Steve Fletcher. Prior to OARA, Mathieu served in the government for nearly 10 […]
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