LGM Financial Services executive vice president of marketing Jeff Schulz acknowledged more Canadians are seeking digital paths toward acquiring their next vehicle.
During this episode of the Auto Remarketing Podcast recorded during Canada’s Used Car Week in Toronto, Schulz highlighted how the F&I is responding and what might be on the horizon in connection with artificial intelligence and other technologies.
Normand Theberge serves as senior vice president and general manager of Cars Commerce Canada.
During this episode of the Auto Remarketing Podcast recorded during Canada’s Used Car Week in Toronto, Theberge recapped the successful blending of D2C Media into the Car Commerce Canada portfolio, the future of Accu-Trade in Canada and more.
Laura Davidson owns and operates Key Auto Approvals in Burlington, Ontario. A portion of Davidson’s customer base has been struggling financially, making reliable transportation even more important.
One of Cherokee Media Group’s Women & Automotive: Profiles in Leadership program selections, Davidson made time for the Auto Remarketing Podcast after appearing on stage during Canada’s Used Car Week in Toronto.
Davidson gave an update about how her customers and dealership are doing and offered future expectations.
J.D. Power’s Mike Buckingham not only was part of the expert speaking faculty at Canada’s Used Car Week, but he also spent time at this year’s event in Toronto for the Auto Remarketing Podcast.
Buckingham described some of the primary differences between the U.S. and Canadian finance markets as well as some ingredients that could help dealers and lenders for the rest of the year and beyond.
National Independent Automobile Dealers Association vice president of dealer development Jeremy Beck shared a new statistic that surprised many executives who have been in the car business for decades.
Hear Beck explain that data point and more during this episode of the Auto Remarketing Podcast recorded in Las Vegas at this year’s NIADA Convention & Expo.
NextGear Capital president Scott Maybee addressed a question that dealerships likely have been wondering, too, as they examine their floorplan expenses and other operational matters.
What if interest rates never drop much below where they currently are?
Maybee shared his response and more for this episode of the Auto Remarketing Podcast recorded in Las Vegas at this year’s NIADA Convention & Expo.
More than 40 new electric vehicles are expected to hit the market by 2025, according to J.D. Power.
Experts think this increase seems to be driven by increased automaker incentives, high interest rates, federal EV tax credit leasing loophole, and concerns about long-term serviceability and battery health.
And they said an increase in leased EVs will equate to an influx of off-lease vehicles entering the secondary EV market in the next 24 to 36 months.
During this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C., a panel of industry experts discussed this emerging market, including sales, service and the importance of preparing for this growing segment.
The panel included:
—Elena Ciccotelli, host and producer, The EVs for Everyone Podcast
—Jimmy Douglas, founder and CEO, Plug
—Dan Saidy, director of sales operations, The CAR Group (Norm Reeves)
—John Foley, co-founder and president, Recharged
With only 13 EVs/PHEVs now qualifying for the full IRA Federal incentive of $7,500 due to sourcing requirements, it is clear that EV/PHEV leasing, with the 45W rule that grants the commercial user the full credit with no sourcing requirements, will inevitably be the preferred “sale” of choice for many OEMs and finance institutions.
However, as values of used EVs have dropped (and continue to drop) dramatically over the last 18 months, it has become increasingly difficult to forecast a residual value, vital to any finance organization’s lease planning.
During this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C., a trio of experts explored the wide-ranging ramifications of the substantial loss in value of used EVs, the continuing evolution of the used EV market, and how technology and digital marketplaces will affect the future of the new and used EV market.
The panel included:
Elena Ciccotelli, host and producer, The EVs for Everyone Podcast
John Possumato, founder and CEO, DriveItAway
Jimmy Douglas, founder and CEO, Plug
Digital auditing is now enabling floorplan and wholesale finance companies to “self-audit” physical auto and equipment inventory, leveraging artificial intelligence, machine learning and API integration.
At this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C.., Marguerite Watanabe of Connections Insights moderated a panel discussion about how these digital audits are progressing, asking for perspectives from a trio of industry executives, including:
—Jeff Bunch of Sopra Banking Software
—Erica Novick of ACV Auctions
—Paul Kramarz of Automotive Finance Corp.
A quartet of industry experts from EY were straightforward with attendees at this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C.
Innovate or else.
During this episode of the Auto Remarketing Podcast, listen to a panel discussion when the EY experts — Courtney Dusseau, Katie Johar, Bryan Chance and Dan Rocklein — explore how direct-to-consumer auto sales and the future of financing presents new opportunities for business leaders to develop robust strategies and foster key partnerships in order to compete.
