The Tuesday Ticker for October 20, 2026 reports significant activity in the automotive sector, including a former AutoCanada executive's additional investment, federal funding for Prevost's electric coach development, increased domestic market share for Canadian steelmakers, and major private equity acquisitions of CCC Intelligent Solutions and Penske Automotive Group.
- AutoCanada Investment: Former executive chair Paul Antony purchased an additional 4,636 shares for $111,746, signaling confidence amid the company's strategic review of its collision repair division.
- Prevost Federal Funding: The Quebec coach manufacturer secured $18.5 million in federal funding toward an $87.5-million project for new coach development and electric propulsion technology.
- Canadian Steel Growth: Canadian steelmakers increased their domestic market share to 51% in 2025 from 41% in 2024, despite a 60% decline in U.S. shipments due to tariffs.
- CCC Takeover: Shareholders approved a US$6.1-billion private equity acquisition at US$7.75 per share, representing a 44% premium, with completion expected in Q1 2027.
- Penske-Mitsui Deal: Minority shareholders accepted a US$212-per-share buyout offer valuing the international vehicle retailer at approximately US$16.3 billion, with closing targeted for Q1 2027.
In this week’s Tuesday Ticker, a former automotive executive has increased his investment, a Quebec coach project has secured federal funding and shareholders have received details of two proposed buyouts.
Former AutoCanada chair increases investment
A former executive chair has invested another $111,746 in a Canadian dealership and collision repair operator reviewing the future of its bodyshop division.
Paul Antony, AutoCanada’s executive chair from 2018 until October 2025, purchased 4,636 shares indirectly through MAP Investco, the holding company through which the purchases were registered.
Antony stepped down as executive chair and a director on Oct. 28, 2025. His departure agreement included advisory support for incoming leadership through Dec. 31, 2026. His family office was AutoCanada’s second-largest shareholder when he left.
The purchases occurred on Oct. 7 and Oct. 8 at prices ranging from $24.072 to $24.154 a share. Canadian Insider, a service tracking disclosed insider transactions, reported the purchases on Oct. 14. These transactions are separate from Antony’s previously reported purchase of 20,000 shares on Oct. 2.
Edmonton-based AutoCanada operates 61 franchised dealerships across eight provinces, three independent used-vehicle dealerships and 40 collision repair centres under the ACX brand.
Management began a strategic review of the collision division on Sept. 29. On Oct. 8, executives appointed TD Securities, an investment dealer and financial adviser, to advise on the review.
The same announcement covered two bodyshop acquisitions in Coquitlam and Port Coquitlam, B.C. The facilities added approximately 1,124 m² (12,100 sq. ft.) of repair capacity.
“Over the past 12 months, we have acquired nine collision centres, expanding our network by more than 20%,” said Samuel Cochrane, AutoCanada chief executive officer.
AutoCanada shares closed Oct. 16 at $26.45 on the Toronto Stock Exchange, up 5.09% for the session.
Quebec coach project secures federal funding
Federal officials have committed $18.5 million to an $87.5-million project covering new coach development and electric propulsion in Sainte-Claire, Que.
The Oct. 16 announcement concerns Prevost, a coach manufacturer founded in Sainte-Claire in 1924. Its customers include private coach operators and public transportation agencies in Canada and the United States.
Prevost operates within Volvo Group Canada, a subsidiary of Sweden’s AB Volvo. The parent manufactures commercial trucks, buses, construction equipment, engines and related products.
The One Prevost Platform project will accommodate multiple propulsion technologies, including low- and zero-emission options. Federal officials expect the work to maintain 1,265 full-time equivalent jobs and provide 156 student co-op terms.
François Tremblay, president of Prevost and Volvo Group Canada, said the funding would support a new commuter coach for public-sector customers and electrification of the X-series coach.
“This investment by the Government of Canada marks a decisive milestone for our organization,” Tremblay said.
Volvo’s class B shares closed Oct. 16 at 325.40 Swedish kronor in Stockholm, up 1.78% for the session.
Steelmakers increase domestic market share
Canadian steelmakers have increased their share of domestic consumption while facing a sharp decline in shipments to the United States.
Canadian producers supplied 51% of domestic steel consumption in 2025, compared with 41% in 2024, Reuters reported on Oct. 16. Canadian steel shipments to the U.S. have fallen 60% since the increase in U.S. steel tariffs.
Orders from domestic mining, energy and data-centre projects have provided some relief. Government loans and import controls have also supported producers adjusting to reduced access to the U.S. market.
The Canadian automotive connection includes Algoma Steel, a Sault Ste. Marie, Ont.-based manufacturer of hot- and cold-rolled steel sheet and plate.
Algoma supplies steel for automotive, construction, energy, defence and manufacturing applications. Its automotive products include high-strength steels used in structural components, placing the producer within the vehicle manufacturing supply chain.
Algoma shares closed Oct. 16 at US$4.03 on Nasdaq, down 1.71% for the session.
OCAL details AI dealership platform
Executives at a Vancouver-based digital dealership have outlined how artificial intelligence is being used to process vehicle-finance enquiries and match customers with lenders.
OCAL Financial operates remotely under licences in British Columbia and Alberta. Revenue comes from vehicle sales and related financing and protection products. Consumer loans are held by lenders.
In an Oct. 13 release, management described conversational AI sales agents undergoing final testing. Voice AI has handled incoming calls since 2025. Staff would intervene in conversations requiring human judgment.
After credit approval, a vehicle is sourced through OPENLANE Canada, a wholesale vehicle auction and remarketing business. OCAL carries no owned inventory.
Management reported an approximately seven-day median period from lead to signed contract. Repeat and referral customers accounted for approximately 17.6% of funded transactions. The figures cover the preceding 12 months and are unaudited.
“The value comes from running them together on one data set,” said Mehdi Moghareh, chief executive officer, referring to the technologies used in the platform.
OCAL shares last traded Oct. 15 at $0.11 on the TSX Venture Exchange, unchanged for the session.
Automotive landlord declares distribution
Trustees of an automotive property investment trust have declared an October cash distribution of $0.0699 a unit.
Automotive Properties Real Estate Investment Trust announced the payment on Oct. 15. Unitholders of record on Oct. 30 will receive payment on Nov. 16. The monthly amount represents $0.839 a unit annually.
The Toronto-based trust owns buildings leased to automotive dealerships and service businesses in Canada and the United States. Its income comes from property ownership and leasing.
The portfolio includes 95 income-producing properties. Tenants operate businesses representing 33 global automotive brands. The weighted average remaining lease term was 8.1 years at June 30.
Collision repair premises are included alongside showrooms and mechanical service facilities. The portfolio therefore provides exposure to the property costs underlying automotive retail and repair operations.
Units closed Oct. 16 at $12.19 on the Toronto Stock Exchange, up 0.66% for the session.
Paint suppliers unveil Axanzo name
Executives at two automotive paint manufacturers have selected a name for their proposed combined business while seeking competition approval for the merger.
AkzoNobel and Axalta announced the Axanzo name on Oct. 15. The planned ticker is AXZ on the New York Stock Exchange and Euronext Amsterdam.
Amsterdam-based AkzoNobel manufactures decorative paints and industrial coatings, including automotive refinish products. Philadelphia-based Axalta supplies coatings for vehicle manufacturing, collision repair and industrial applications.
Axalta’s bodyshop paint brands include Cromax, Spies Hecker and Standox. The proposed combined business would include approximately 100 brands across more than 160 countries.
Reuters reported Oct. 16 that concessions had been submitted to European competition officials reviewing the proposed US$25-billion merger. Details were not disclosed. Reuters cited sources indicating that a sale of AkzoNobel’s vehicle refinish business was under consideration.
“Axanzo signals a bold new start for a company which will be stronger in every way,” said Greg Poux-Guillaume, AkzoNobel chief executive officer.
Poux-Guillaume would lead the combined business. Axalta chief executive officer Chris Villavarayan would become deputy chief executive. Completion is expected in early 2027, subject to approvals. Existing customer teams and brands will remain in place before closing.
Axalta shares closed Oct. 16 at US$33.44 on the New York Stock Exchange, down 0.86% for the session.
CCC takeover carries US$6.1-billion value
Shareholders in an automotive claims and estimating software provider have been offered US$7.75 a share under a proposed private equity takeover.
CCC Intelligent Solutions disclosed the agreement on Oct. 15. The transaction has an enterprise value of approximately US$6.1 billion. The offer represents a 44% premium to the July 9 closing price, before media speculation about a sale.
Chicago-based CCC supplies software connecting insurers, collision repairers, automakers and parts suppliers. More than 35,000 businesses use its network for claims and repair processes.
The buyer group is led by GTCR, a Chicago-based private equity firm investing in sectors including technology and financial services. Elliott Investment Management, a Florida-based investment manager with a technology buyout business, is also participating.
“Together, we will accelerate the AI and agentic capabilities our customers want from us,” said Githesh Ramamurthy, CCC chairman and chief executive officer.
Completion is expected in the first quarter of 2027, subject to shareholder and regulatory approvals. Financing is not a closing condition. CCC shares would be delisted after completion.
CCC shares closed Oct. 16 at US$7.61 on Nasdaq, down 0.26% for the session.
Penske and Mitsui agree to buyout
Minority shareholders in an international vehicle retailer have been offered US$212 a share under an agreement to take the business private.
Penske Automotive Group disclosed the agreement on Oct. 15. The offer represents an 8.84% premium to the previous session’s closing price. The transaction has an enterprise value of approximately US$16.3 billion.
The Michigan-based dealership operator sells passenger vehicles and commercial trucks in seven countries, including Canada. Its businesses also include vehicle parts, maintenance and other services.
The buyers are Penske Corporation, a privately held transportation group with automotive retail, truck leasing and logistics businesses, and Mitsui, a Japanese trading and investment company active in mobility, energy, metals and other sectors.
“Mitsui has been a shareholder for 25 years, and we have had a productive relationship over the past quarter-century,” said Roger Penske, chairman and chief executive officer of Penske Automotive Group.
After completion, Penske Corporation would own approximately 64% and Mitsui approximately 36%. Closing is expected in the first quarter of 2027, subject to approvals. Shares would then be delisted.
Penske Automotive shares closed Oct. 16 at US$212.42 on the New York Stock Exchange, up 0.20% for the session.
PPG directors declare dividend
Directors of an automotive paint supplier have declared a quarterly dividend of US$0.74 a share.
PPG disclosed the dividend on Oct. 14. The Pittsburgh-based manufacturer supplies coatings for automotive manufacturing, collision repair and other industrial markets.
Its collision repair products include waterborne basecoats, solventborne paint systems, primers and clearcoats. Refinish product lines include Envirobase High Performance and Deltron NXT.
Those systems are used to match vehicle colours and restore painted surfaces after repairs. The dividend announcement provides a shareholder-payment update, without new automotive refinish sales or volume figures.
PPG shares closed Oct. 16 at US$107.39 on the New York Stock Exchange, down 0.39% for the session.
