Business: Page 69

Business
Tuesday Ticker: Tesla’s tearful earnings call; Toyota adopts standard
Toronto, Ontario ⁠— This week we look at automakers and economics as Tesla marks a tumultuous earnings call; Toyota adopts a standard and Hyundai breaks records with its plans to break ground.  Tears for Tesla Tesla’s Q3 earnings call last week did not entirely go as planned, according to reports that CEO Elon Musk was […]
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Collision Repair
Driving Demand: Vehicle complexity, aging cars among factors contributing to ‘robust’ aftermarket demand
Washington, D.C. ⁠— An aging car parc, ever-increasing miles-travelled and greater vehicle complexity will continue to drive robust demand across the automotive aftermarket through 2024, according to the recently-released Capstone Partners Automotive Aftermarket M&A Coverage Report October 2023. Capstone’s report states that an “aging [U.S.] car parc, growing miles travelled and increased vehicle complexity have […]
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Business
BUSINESS NEWS
POLYGLOT PLATFORM Arslan Automotive is currently finalizing the Korean translation of its Accuvision 3D measuring system and its associated software, company owner Arman Gurarslan told Collision Repair. Gurarslan hosted a team of Korean automotive professionals at Performance Collision Brampton, managed by Gary Dunn, in mid-August. The Korean team had the chance to receive training on […]
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EV
Tuesday Ticker: Tesla misses targets, Rivian marks delivery records
Toronto, Ontario ⁠— Analysts were off in their estimates in predictions for both Tesla and Rivian’s delivery numbers–but for different reasons. See the ups and downs in this weekly Tuesday Ticker. Tesla misses targets–but still delivers Tesla missed market estimates for its Q3 2023 deliveries, which analysts believe is due to mass production halts and shutdowns […]
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Business
Tuesday Ticker: 54 percent votes in favour of Unifor-Ford deal; CADA teases progress in ZEV mandate talks with government
Toronto, Ontario — In this weekly Tuesday Ticker economics report, we delve into some of the details of Ford and Unifor’s recently ratified agreement, while the Canadian Automobile Dealers Association teases potential progress in conversations with the federal government re: ZEV mandates. Fifty-four percent in favour The tentatively struck agreement made between Unifor and Ford […]
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Collision Repair
Tuesday Ticker: AutoCanada settles outstanding litigation; Volvo plans to lay off 10 percent of workforce
Toronto, Ontario ⁠— In this weekly Tuesday Ticker economics report, AutoCanada resolves a four-year dispute with its former CEO and chairman, while Volvo announces extensive job cuts in North America. Resolution reached AutoCanada and CanadaOne Auto Group announced today that they have agreed to resolve the legal proceedings between AutoCanada, Patrick Priestner and CanadaOne Auto […]
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Tuesday Ticker: VinFast drops, Rivian hires seasoned pro
Toronto, Ontario ⁠— In this weekly Tuesday Ticker, VinFast’s share prices dropped almost as much as they grew when the stock first dropped; while Rivian hires a seasoned OEM exec as it buckles down for a busy few months. They rise, they fall VinFast shares exploded when the electric automaker began trading on Nasdaq in […]
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Welcome to the Week: CSN Carrosserie Nordique joins the CSN Collision network
Québec City, Québec– CSN continues its expansion in Quebec by adding CSN Carrosserie Nordique–located in Saint-Isidore-de-Laprairie, Quebec–to its growing network of leading collision centres. Sébastien Tremblay, owner of CSN Carrosserie Nordique, says: “Having always been passionate about cars, both their mechanics and their bodywork, we found ourselves in a field that we’re passionate about, and […]
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Four Stores: CARSTAR franchisees quadruple store count with purchase of Piedmont, Lafontaine, St-Jérôme locations
Hamilton, Ontario – CARSTAR, North America’s premier network of independently owned collision repair facilities, has announced the resale of CARSTAR Lafontaine, CARSTAR St-Jérôme and CARSTAR Piedmont to recent franchisees and owners of CARSTAR St. Eustache, Simon Anderson and Stéphane Roussy. Stéphane Roussy, now a CARSTAR MSO, stated that he is “very pleased to continue working […]
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Open in Ottawa: Copart Inc. opens new facility in Ottawa, Ontario
Ottawa, Ontario – Copart Inc., a global leader in online auto auctions, has announced that it is opening a new location in Ottawa, Ontario. The newly built facility, 300 Somme St., provides 44 acres of vehicle storage space. The site is conveniently located 15 minutes from downtown Ottawa. “Copart continues to invest in Canada by expanding […]
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Tuesday Ticker: Unifor union workers prepare for potential strike; Driven Brands to repurchase US$50m in shares
Toronto, Ontario — In this weekly Tuesday Ticker, Unifor holds a strike vote for its 18,000 auto workers, while Driven Brands plans a share repurchase. Uh oh, Unifor could strike Unifor union members have voted to strike if they cannot reach an agreement with the Detroit Three—Ford, Stellantis and General Motors—before 11:59 p.m. on Sept. […]
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Driving Retail: Canadian June retail sales growth led by increases in auto, auto parts sales
Ottawa, Ontario — Canadian retail sales grew ever so slightly in June (0.1 percent from the previous month), and that growth was mostly driven by car sales, according to data released by Statistics Canada last Wednesday. The gain was led by increases at motor vehicle and parts dealers (2.9 percent gain and 2.5 percent gain, […]
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