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 […]
New report says insurance rates are climbing in Alberta and falling in Ontario
By CRM Staff Toronto, Ontario — March 20, 2018 — A new insurance report from LowestRates.ca shows the latest trends coming out of 2017, in its Auto Insurance Price Index. “The car insurance industry can be a bit of a mystery to consumers, and that’s the main reason we created the Auto Insurance Price […]
Manheim UVVI: used vehicle prices slumps after hurricaines pass
Atlanta, Georgia — January 10, 2018 — Used vehicles prices have softened in the wake fierce hurricane season. The Manheim Used Vehicle Value Index—which accounts for wholesale pieces adjusted for mix, mileage and season—came to a reading of 132.0 last December. While a 5.6 pointover last year, is also marks the lowest levels seen since […]
Tuesday Ticker: stock markets off to a good start, oil prices rise
By Jeff Sanford Toronto, Ontario — January 9, 2017 — In this week’s Tuesday Ticker, some of the big trends for 2018, a good start to the year for stock markets, the meltdown in sub-prime auto-lending, and much, much more! Stock markets have started 2018 with a bang. Last week the Dow Jones Industrial Average […]
Recent increase in global scrap steel prices
Toronto, Ontario — March 9, 2016 — Good news for automotive recyclers: there’s been an unexpected upturn in ferrous scrap prices recently. A number of experts have weighed in on whether the price bump will last. The price increase is quite recent and follows numbers in January that showed a decline in world steel production. […]
Cheapest gas since 2004 drives good times for auto industry
By Jeff Sanford Toronto, Ontario — November 17, 2015 — Anecdotal evidence suggests that the collision repair industry is doing relatively well this fall of 2015, as is the rest of the auto industry. Sales of new cars are at record levels. The recent Scotiabank Global Auto report released last week said conditions were the […]
Low oil prices fuel driving boom—will the good times continue?
By Jeff Sanford Toronto, Ontario — September 7, 2015 — The low price of oil has fallen this summer to a multi-year low of just $40 a barrel. The low price of crude has taken the price of gasoline to the lowest price its been in many years. No wonder the auto industry as a […]
