In this week’s Tuesday Ticker, collision acquisition activity led the Canadian news, while aftermarket suppliers, service brands and automakers reported delayed filings, year-end results, divestitures and vehicle technology investments.
EV price drop
Mazda Canada is cutting the cost of two of its EV models.
Earlier this month, the Richmond Hill-based subsidiary of Mazda Motor Corp., announced it is lowering the price of the 2026 CX-70 PHEV and CX-90 PHEV.
The 2026 CX-70 PHEV GS-SC now starts at $48,999, a reduction of $4,000. The 2026 CX-90 PHEV GS now starts at $49,999, a reduction of $5,000.
Mazda Canada stated both models now qualify for federal EV incentives of up to $2,500 under Canada’s Electric Vehicle Affordability Program.
The pricing update adds lower-priced plug-in hybrid models to Mazda’s Canadian lineup. Plug-in hybrids include high-voltage components, battery systems and additional repair procedures.
Following the announcement, Mazda Motor shares rose 0.5% to ¥1,126.0 from ¥1,120.5.
Collision expansion
AutoCanada Inc., an Edmonton-based dealership and collision repair group, announced two collision repair acquisitions in June.
On June 8, AutoCanada announced the acquisition of Contemporary Coachworks, a Calgary-based collision repair business with two locations and with OEM certifications that include Tesla, BMW, Mercedes-Benz, Lexus, Volvo and Acura. Two days later, the company also announced the acquisition of Mascarin Collision Centre in Thunder Bay, the only General Motors-certified collision repair facility in Northwestern Ontario.
The acquisitions bring AutoCanada’s collision network to 36 collision centres. AutoCanada also operates 64 franchised dealerships across Canada. Its collision platform is supported by 26 OEM certifications covering 37 vehicle brands.
In a June 10 press release, Samuel Cochrane, chief executive officer and interim chief financial officer of AutoCanada, stated, “Mascarin Collision Centre is an excellent addition to our growing collision platform. The business has built a trusted reputation over decades of serving customers and maintaining strong relationships with insurers and OEM partners.”
Following the June 10 announcement, AutoCanada shares fell 2.8% to $21.72 from $22.34.
Filing notice
Driven Brands Holdings Inc., a Charlotte, N.C.-based automotive services company whose brands include CARSTAR, Maaco, Auto Glass Now, Take 5 Oil Change and Meineke, announced June 5 that it received an expected Nasdaq notice related to its delayed first-quarter filing.
The notice relates to Driven Brands’ delayed Form 10-Q for the quarter ended March 28. The filing delay is connected to previously announced financial restatements and the delayed 2025 Form 10-K, which was filed May 19.
The notice does not immediately affect the listing or trading of Driven Brands shares. Driven Brands has until July 31 to submit a plan to regain compliance. Nasdaq may grant an extension until Nov. 25.
Following the announcement, Driven Brands shares rose 3.6% to US$13.47 from US$13.00.
Parts rebound
A leading parts manufacturer is reporting a surge in sales in its latest quarterly report.
Motorcar Parts of America Inc., a Los Angeles-based manufacturer and distributor of automotive aftermarket replacement parts, reported fiscal 2026 fourth-quarter and year-end results June 8.
Fourth-quarter net sales rose 9.9% to US$212.3 million. Gross profit rose 30.9% to US$50.4 million and gross margin increased to 23.7% from 19.9%. Net income was US$9.7 million, compared with a net loss of US$722,000 a year earlier.
Motorcar Parts also repurchased 286,136 shares for US$3 million during the quarter, at an average price of US$10.48. The company supplies aftermarket alternators, starters, wheel bearings, brake parts and other replacement components used in vehicle repair and service.
In a June 8 earnings release, Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, stated the company ended fiscal 2026 with “a strong quarter” and “significant new business commitments and opportunities.”
Following the earnings release, Motorcar Parts shares rose 34.6% to US$14.25 from US$10.59.
