Equifax Canada looked to provide some clarity as auto-finance providers continue to navigate the challenges created by the coronavirus pandemic. The credit bureau recently released a whitepaper that reviewed credit-based insights for lenders to keep in mind as both dealers and consumers approach what Equifax Canada classified as a “new normal” for the Canadian auto-finance […] [Read More]

The number of potential buyers simply walking through the showroom doors already was declining even before the coronavirus pandemic arrived. Now dealers are using as many tools as possible — especially technology-powered solutions — to keep their retail operations going. “We find that when we jump in and chat with our guests online, the rapport […] [Read More]

As provider of predictive analytics and marketing automation solutions for dealerships and manufacturers, automotiveMastermind announced on Monday that the IHS Markit division has hired two new executives and promoted one to add to its leadership team. According to a news release, Charity Taylor joined the team as vice president of data analytics, while Matt Leone […] [Read More]

A big crop of off-lease volumes this summer could spell opportunity for many dealers to offer consumers attractive deals on certain 3-year-old vehicles coming back into the market. Through its research, automotive search engine iSeeCars.com has compiled a list of top 10 deals on off-lease cars, based on which models had the highest 3-year depreciation […] [Read More]

America’s Car-Mart is looking to show that COVID-19 won’t deter the chain of buy-here, pay-here dealerships. Coming off a new company record for annual revenue, Car-Mart opened another dealership on Monday after beginning the current fiscal year by relocating its corporate headquarters. Now based in Rogers, Car-Mart currently operates 149 dealerships after opening the 38th […] [Read More]

The world has witnessed drastic changes in just a few short months. The economic fallout from the COVID-19 pandemic has impacted nearly 50 million workers since the end of February, according to Mark Zandi, chief economist at Moody’s Analytics in a recent CNBC report. While Moody’s also believes “the COVID-19 recession is over,” automotive dealers […] [Read More]

Fisker is going public by way of merging with a special purchase acquisition company. The e-mobility and tech company said Monday it entered an agreement with Spartan Energy Acquisition Corp., an SPAC sponsored by Apollo Global Management affiliate, to merge Spartan and Fisker. Fisker would then be a publicly traded company on the New York […] [Read More]

Manheim added 13 locations to its in-lane bidding pilot on Monday, meaning 30 locations are now included, the company said in operational updates. Dealers at the pilot locations are able to bid in-lane through Digital Block sales, which include in-lane bidding on site at Manheim auctions with a live auctioneer and simulcast. Vehicles remain stationary […] [Read More]

Here’s an encouraging sign for the Canadian used-car market from June: at least two automaker programs had their strongest months ever for certified pre-owned, and a third, is gaining ground. Starting with Hyundai, it reported its strongest certified pre-owned sales month of all time, selling 1,246 certified vehicles in June. That’s a 26% year-over-year hike […] [Read More]

The International Automotive Remarketing Alliance (IARA) finalized the agenda for its 2020 IARA Virtual Summer Roundtable, which is scheduled for Aug. 20. Set to bring viewpoints from consignors and dealers, the agenda includes nine segments. According to an update from IARA sent to Auto Remarketing over the weekend, the schedule is as follows: 9-9:20 a.m.: […] [Read More]