Toronto, Ontario -- August 6, 2019
Well Aged and Better Waged: Average U.S. repairer now over 40, earning $72k CDN
According to I-CAR’s Snapshot on the Collision Repair Industry, which was updated this week, U.S. auto repair workers are older and better paid than ever.
According to the report, the average age of U.S. collision employees is above 40 for the first time. There are also now record numbers of over-65s still working in U.S. facilities.
Traditionally, the auto repair sector was an industry that attracted primarily young employees. In 1995, the average age for an industry employee was just 33. Today it is 41.
The report also notes that just 32 percent of employees had some level of pre-employment education.
Employees earned an average of close to $55,000—about $72,000 Canadian. More than three in ten employees reported annual earnings above $70,000 USD—$92,000 Canadian.
European Aftermarket Ailments: Auto sector dips after Trump announces new tariffs.
In what must seem like proof of the butterfly effect to investors, the European auto aftermarket is in financial free-fall thanks—it appears—to statements made in the United States about China.
The value of European auto sector stocks have dropped after U.S. President Donald Trump issued a warning that his country would be placing new tariffs on China.
Among the worst-hit businesses was Pirelli, an Italian tire manufacturer, which saw more than 4.5 percent of its trading value disappear.
AutoCanada Appraised: AutoCanada's stock drops
In the days before it releases its latest quarterly report, which will be released on August 8, AutoCanada’s stock slipped below $9.
The company’s debt-to-equity ratio of 361.91, meaning it owes 3.6 times as much as it owns—a point mentioned in several recent financial stories covering its stock.
Trading at just $8.96 the time of publication, AutoCanada’s value is less than ten percent of its $90.45 trading high, which happened in June 2014.
At the time of publication, the stock’s value has peaked above $9.