Crystal Ball: No break in insurance, repair cost inflation coming in 2023, Ratehub.ca predicts
Toronto, Ontario — The insurance experts at Ratehub.ca published their predictions for 2023 in late December, with results showing little reprieve on the way for an already strained insurer-repairer ecosystem, as inflated repair costs have trickled downward to increased premiums for customers. Statistics Canada’s October Consumer Price Index report for passenger vehicle insurance premiums shows […]
Yearly Review: AIA Canada releases Outlook Study 2022 covering past year’s aftermarket trends
Toronto, Ontario — As the calendar winds down toward the close of 2022, the Automotive Industries Association of Canada (AIA) is looking on the past year with the release of the association’s Outlook Study 2022, now available to AIA members. The association’s findings for the past year show that despite the aftermarket’s “strong recovery” in […]
Strategic Planning: AkzoNobel adjusts prices to counter shipping crisis, sees 19 percent revenue increase
Amsterdam, Netherlands — AkzoNobel has released its Q3 2022 financial results, reporting strong revenue gains thanks to price hikes outpacing expected losses from lower volume, higher material costs and global inflation. Specifically, the company has increased its revenue by 19 percent by increasing prices by 13 percent, justified as a way to offset increases in […]
Taking the Backseat: Taxi drivers highlight increases in insurance premiums as reason for loss of jobs, company closures
Kitchener, Ontario — Taxi Drivers in the Kitchener-Waterloo area are speaking out against heightened insurance rates causing many drivers to put their taxis in park, permanently. Insurance rates in the area are said to have nearly quadrupled, causing drivers and company owners alike to quit the business. “We were paying approximately $3,000 a year, now […]
Petroleum Payout: Alberta announces tax relief on fuel, gas prices continue to rise
Edmonton, Alberta — Despite a provincial announcement for gas tax relief on Mar. 7, prices continue to rise in Alberta. According to Alberta’s premier Jason Kenny, Albertans would enjoy tax relief on fuel by 13 cents per litre in addition to a $150 electricity rebate. This is aimed to “provide much-needed relief to everyday Albertans,” […]
Tuesday Ticker: June 22, 2021
Toronto, Ontario — This week, the Tuesday Ticker covers the Boyd Group’s upcoming dividend; Hyundai’s plan to conquer the air-taxi market in just four years and Statistics Canada’s reports of fast-paced inflation rates. Bucks for Boyd Boyd Group Services last week announced a cash dividend for the second quarter of 2021 of $0.141 per common […]
Sticking up for B-Town: Brampton city council fights ‘postal code discrimination’ in auto insurance
Brampton, Ontario — Ontario’s Flower City is standing up for it’s rep and fighting back against what of a term that many Bramptonians are far too familiar with—postal code discrimination. According to a January report from Rates.com, Brampton tops the province in auto insurance rates at an average of $2,698 per year. Now, Brampton city […]
British repairers call for insurers to pay up
By CRM staff London, U.K. — June 6, 2018 — British collision repairers are standing behind a call to increase the rates paid by insurers to British repairers. In a recent statement from the National Body Repair Association (NBRA), Britain’s largest industry advocacy group for the nation’s collision repairers, director Chris Wreks wrote, “This […]
