Tuesday Ticker: Paint providers mark Q3 gains
Toronto, Ontario — In this weekly Tuesday Ticker, we’re looking at the Q3 performance of two paint giants—Axalta and PPG—both of which reported strong performances for the three months ending Sept. 30, 2023. Plus, shout out to Sherwin Williams for marking some significant net sales from U.S. and Canadian storefronts. Axalta aces Q3 Axalta said […]
Precise Painting: Axalta embarks on paint technology partnership with inkjet company
Pennsylvania, United States — Axalta has announced a new venture with an inkjet manufacturer, in which the coatings company plans to provide a “next generation sustainable digital paint technology for the transportation industry.” More specifically, this planned technology could contribute up to a 30 percent reduction in CO2 emissions for two-toned vehicle manufacturers, according to […]
Motor Manicure: Viral hack has drivers painting cars with nail polish
London, United Kingdom — A U.K. news source is reporting that a “genius tip” gone viral on TikTok is encouraging drivers to repair unsightly body scratches with nail polish. TikTok user @happywifehappylifehaha is to blame. “I will show you a trick that dealership workers use,” she captioned the video. “Just use the cheapest nail polish […]
Let it Mellow: Yellow cars depreciate slower than other hues, says car colour study
Toronto, Ontario — When life gives you lemons, keep hold of them; they might still hold a pretty significant chunk of their original value after three years. According to a colour study by iSeeCars, yellow vehicles depreciate by approx. 13.5 percent—or US$3,000, on average—after three years. For comparison, iSeeCars states that the typical car loses […]
Money Moves: Axalta appoints Carl Anderson as CFO, SVP
Toronto, Ontario — A changing of the guard is underway at Axalta, as the global coatings developer announced Wednesday that Carl Anderson will be taking over for Sean Lannon in the position of senior v-p and CFO, effective Aug. 14. Having most recently served as CFO at XPO Inc., one of North America’s largest freight […]
Orange You Glad: Fiat to stop producing grey cars
Turin, Italy — Fiat will no longer produce grey cars, the Italian automaker announced earlier this week. The automaker said that, as of June 2023, Fiat “stops producing grey cars,” referring to the move as “Operation No Grey.” “The decision was made to enhance the importance of colours in life, embodying the Italian way of […]
Defects-B-Gone: Toronto-based startup uses AI-driven tech to scan for paint defects
Toronto, Ontario — A Toronto-based startup says it’s using tech innovations to detect slight changes in the automotive spraying process to avoid defects and reworks caused by changing colours or poor surface finishes. According to an article from Swagger Magazine, Mazlite’s cloud-based sensors measures assembly line spray patterns every few minutes to ensure thickness levels […]
Three’s Company: BASF appoints three heads of global coatings business units
Toronto, Ontario — The coatings division at BASF is due for a bit of a shake-up this coming August, as the auto paint manufacturer appointed three individuals to head up the new global units for its automotive coatings and refinish businesses. Effective August 1, Patrick Zheng Yu Zhao will be tasked with overseeing BASF’s Global […]
Tuesday Ticker: PPG says first-quarter EPS will be higher than previous guidance; Rivian maintains annual production expectations
Toronto, Ontario — PPG raises its guidance for Q1 2023 earnings thanks to stronger automotive OEM coatings sales performances, while Rivian reassures investors and analysts in this weekly Tuesday Ticker. PPG pumps it up PPG upped its guidance for first-quarter adjusted profit to between US$1.52 per share and US$1.58 per share, thanks to “stronger sales […]
Colourful Competition: PPG and Tasca Racing announce sponsorship for 2023 hot rod season
Strongsville, Ohio — PPG recently announced that it will extend its sponsorship of the Tasca racing team for the 2023 National Hot Rod Association, while unveiling a new look at the cars the team will bring to tracks shortly. The paint scheme is designed to match PPG’s INDYCAR layout and took seven people a total […]
