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 […]
Tuesday Ticker: Stellantis shuts down merger speculation; EV automakers continue to drop
Toronto, Ontario — In this weekly automotive economics report, Stellantis shuts down merger rumours, while EV stocks continue to slip, keeping up with the 2024-thus-far trend. Stellantis slices down rumours Stellantis chairman John Elkann has commented on press speculation that the automaker was considering a merger with French OEM Renault, saying there is “no plan […]
Champs of Karting and Collision: CCS treats Collision Centre of the Year team to night of go-kart racing
Toronto, Ontario — A good team is hard to find—and when you do find one, it’s important to celebrate achievements. Consolidated Collision Services has taken note of this—the company hosted its 2024 Collision Centre of the Year winners, Mercedes-Benz Collision Oakville, at K1 Speed Karting last week to celebrate the team’s achievement. According to a […]
Tuesday Ticker: Rivian hires longtime Apple hardware designer
Toronto, Ontario — In this weekly Tuesday Ticker, Rivian goes Apple picking for new hires, while AutoCanada marks a date for its Q4 2023 and full-year 2023 results call. AutoCanada’s annuals Edmonton-based dealer group, AutoCanada, will release its financial results on Thursday, March 7, 2024, before the markets open, the company announced this past Monday […]
Saputo on the Small Screen: Saputo Collision Group featured on local TV network
Hamilton, Ontario — Joe Saputo, owner of CARSTAR Ancaster, CARSTAR Ancaster West and CARSTAR Guelph, was recently visited by Hamilton, Ont. news network CHCH, where he delved into the inner workings of the shop to promote his services in the local market. In the segment, Saputo shows off the floor at CARSTAR Ancaster, showing reporter […]
Tuesday Ticker: Electric vehicle stocks suffer in the first weeks of 2024
Toronto, Ontario — The first few weeks of 2024 have brought major losses for some electric vehicle stocks, like Tesla, Rivian and Fisker. Tesla stock has dropped more than 14 percent since the start of 2024. Analysts believe the plunge is largely driven by rental car company Hertz’s decision to pull 20,000 Tesla models from […]
Calling on Keith: Keith E. Jones named collision strategy and program manager, DEKRA North America
Victoria, British Columbia — Keith E. Jones has been named collision strategy and program manager for DEKRA North America. This new role will see Jones support the BMW Canada Certified Collision Repair Centre program. Previously, Jones served as a regional development specialist for DEKRA, supporting various OEM certification programs, including BMW, Mercedes-Benz, Audi, Volkswagen and […]
