News: Page 54

Tuesday Ticker: Ford to pay near-record $165-million penalty on recall failure; Northvolt considers possibility of bankruptcy protections

Toronto, Ontario — In this weekly Tuesday ticker, Ford Motor Company has agreed to pay a near-record $165-million penalty to the National Highway Traffic Safety Administration (NHTSA) for allegations of failing to quickly respond to recall measures; while Northvolt is reportedly considering the possibility of bankruptcy protections in the United States. Fine finds Ford Motor […]

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Repair Recommendations: Senate gives final approval for right-to-repair laws in Ontario

Ottawa, Ontario – On Friday, the Canadian government gave final approval to Bill C-244 and Bill C-294, which amend copyright laws to enable businesses and consumers the right to fix their own equipment. Bill C-244 was originally introduced in the Commons by British Columbia Liberal MP Wilson Miao in February 2022, with Bill C-294 being […]

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Departure Diagnostics: Fewer drivers are opting out of lane departure prevention, says IIHS report

Toronto, Ontario — A new study from the Institute for Highway Safety (IIHS) reveals that almost nine out of 10 drivers of vehicles equipped with lane departure warning and prevention systems now keep them switched on. The study, which surveyed drivers with the technology, further notes that seven out of 10 drivers of vehicles that […]

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EV/AV Report: Emergency respondents raise concerns over Tesla safety; while Toyota teaches self-driving vehicles to do doughnuts

Toronto, Ontario — In this weekly electronic and autonomous vehicle report, emergency respondents raise concerns over the safety of Tesla vehicles in a collision after a collision in Toronto last month; while Toyota teaches self-driving vehicles to do doughnuts in the name of improved road safety. Tesla trials Emergency respondents have voiced concerns over the […]

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Financial Falls: AutoCanada announces third quarter financial results; reports a revenue decrease of $29.6 million

Toronto, Ontario — On November 13, AutoCanada announced its third quarter financial results, citing a revenue decrease of $29.6 million. Other highlights from the report indicate that net income for the period was $7.1 million as compared to $22.8 million in the prior year—a decrease of $15.7 million. Additionally, adjusted EBITDA was $53.2 million as […]

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New and Used Vehicle Markets Stabilizing, According to Open Lending Analysis

Automotive lending enablement provider releases data on national and regional vehicle registrations in the near- and non-prime market for Q2 2024 AUSTIN, Texas–(BUSINESS WIRE)–Open Lending Corporation (NASDAQ: LPRO) (“Open Lending” or the “Company”), an industry trailblazer in automotive lending enablement and risk analytics solutions for financial institutions, just released a new Near- and Non-Prime Consumer […]

Can You Believe This?! Cars pull crazy U-turns; road-side stunts and more

Toronto, Ontario — Friday again, and with it another Can You Believe This?! video to bring some warmth to your weekend. Winter may be almost here, but the giggles from this video are sure to fuel some weekend funnies. From cars pulling crazy U-turns to road-side stunts, we’re certain you’ll have a ball.

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Record Reports: Axalta releases third quarter 2024 results; reports record net sales of $1.32 billion

Toronto, Ontario — Axalta Coatings has now released its third quarter financial results, noting a record net sales of $1.32 billion. According to a press release of the results, other highlights from the company’s third quarter include net income increases of 40 percent year over year to $102 million and a record adjusted EBITDA of […]

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Rising Repair Rates: Vehicle repair costs have increased by 28 percent over past three years, says Wall Street Journal

Toronto, Ontario — The cost of vehicle maintenance and repair has increased by an average of 28 percent over the past three years due to rising vehicle technification, says a new article from The Wall Street Journal. The article specifically notes that among parts costs, “another culprit is the cost and labour required for all […]

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Throwback Thursday: Return to SEMA 2011 with archival photos

Toronto, Ontario — This year’s SEMA show may have come and gone, but Collision Repair is prepared to take you all the way back to 2011 with these archival photos from our very own photo collection. Check out the products of yesteryear and vehicles that even 13 years later, still shine. Click here to see […]

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Skilled Statistics: Canadians consider auto repair fifth most valuable trade career, says recent Leger survey

Toronto, Ontario — A recent Leger survey commissioned by Classic Fire + Life Safety to evaluate Canadian attitudes toward the skilled trades indicates that for citizens, automotive repair is the fifth most valuable trade for a career. The study—“Measuring up the Trades”—specifically surveyed 1,626 Canadians aged 18 years or older from September 27 to 29, […]

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Quarter Comprehension: Boyd releases Q3 results; CEO Tim O’Day says ‘disappointed’ with results

Toronto, Ontario — On Wednesday, Boyd Group Services Inc. announced that sales increased by two percent to $752.3 million from $737.8 million in its third quarter results. Additionally, the financial quarter report noted that “the third quarter of 2024 recognized one additional selling and production day when compared to the same period of 2023, which […]

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