Collision-Related Rentals: Canada’s overall LOR down 1.2 days over Q3 2023; P.E.I. marks six-day drop, says Enterprise report
Ottawa, Ontario — Canada’s overall length of rental (LOR) for collision-related rentals in Q3 2024 was 15.1 days—a 1.2-day decline from Q3 2023, according to a new report from Enterprise Rent-a-Car. This mirrors the U.S. LOR decline also seen in Q3 2024, which also observed a 1.2-day decline to 16.3 days. When it comes to […]
Fraud Frenzy: Canadian auto fraud up 54 percent thanks to ID theft, fake credit applications, says Equifax Canada
Ottawa, Ontario — Identity theft and fake credit applications have caused Canadian auto fraud to surge 54 percent compared to a year ago, according to a recent report from Equifax Canada. Ontario is the province that has experienced the most significant increase in auto fraud, with rates doubling since Q2 2023, said Equifax. First-party fraud, […]
Boyd’s Books: Boyd reports Q2 2024 financials; Internalization of scanning and calibration, repair-first strategy drive improved margins despite softening sales
Winnipeg, Manitoba — Boyd Group Services, which operates the Boyd Autobody and Glass and Assured collision networks, reported its second-quarter financials on Thursday. For the quarter ended June 30, 2024, Boyd Group Services posted net earnings of US$10.8 million, compared to US$26.3 million in the same period of 2023. Factors impacting net earnings, according to […]
Tuesday Ticker: Volkswagen’s investment pushes Rivian shares; report claims Chinese vehicles will claim 33 percent market share by 2030
Toronto, Ontario – This weekly Tuesday Ticker covers Volkswagen’s recent partnership with Rivian and its impact on the latter’s stock. Meanwhile reports claim Chinese-made cars will claim 33 percent of the global market share by 2030. Volkswagen throws a vine Last week, Volkswagen and the electric vehicle startup Rivian announced a new joint venture partnership. […]
Good Results in All Regions: AkzoNobel publishes 2022 report with financial results
Amsterdam, The Netherlands — AkzoNobel unveiled its 2022 report on Wednesday, which details the company’s activities last year, including financial results and key business developments. High energy costs and labour shortages continued to impact AkzoNobel’s vehicle refinish customers in 2022 while presenting the company with opportunities to support customers’ sustainability ambitions. Nonetheless, director of automotive […]
Steady Markets: AutoTrader predicts stable vehicle purchases despite changing economic outlooks for Q3, 2022
Toronto, Ontario — AutoTrader has released its latest “vehicle purchase intentions” study with one particularly surprising result—24 percent of Canadians polled expect to buy a vehicle in the third quarter of 2022, 6 percent higher than the 18 percent who expected to buy a vehicle in the third quarter of 2021. According to the study, […]
It Could Be Costly: ICBC reports distracted driving on the rise
Victoria, British Columbia — The Insurance Corporation of British Columbia (ICBC) has released new statistics regarding a rise in distracted driving amongst BC drivers. The survey reports that 43 percent of respondents have used their phones while driving at least one time over the past ten trips. This represents a rise from 33 percent of […]
Welcome to the Danger Zone: CAA South Central Ontario study finds unsafe driving prevalent within Ontario
Thornhill, Ontario– A new study by market research company DIG Insights has confirmed what a lot of drivers already know. It’s dangerous out there! The report indicates that 98 percent of drivers surveyed reported that they had seen unsafe driving within the last year. This number is up three percent from the previous year. This […]
Axalta’s Eye: White continues to top Global Automotive Color Popularity, but gray makes gains
Glen Mills, Pennsylvania — If you bought a grey vehicle in the last year thinking you’d stand out from the typical black or white-coated car, we’ve got some bad news for you. Axalta released its 69th annual Global Automotive Color Popularity Report, revealing the majority of cars on today’s roads are white (35 percent), black […]
Tuesday Ticker: December 21, 2021
Toronto, Ontario — In this Tuesday Ticker, Rivian reports its Q3 highlights; dreams of Uber are dashed in Kelowna and the Boyd Group announces its Q4 2021 cash dividend. Highs and lows Rivian reported its earnings for the third quarter of 2021 last week, reporting profits of US$1 million—thanks to its first customer deliveries of […]
