Off-lease volumes were already going to be a tough hurdle for the Canadian auto market to maneuver this year, even before COVID-19. But the impact of the pandemic certainly heightens the concerns around what is expected to be two “peak years” for off-lease volume, as analysis this week from Canadian Black Book illustrates. Lease terminations […] [Read More]

While the latest overall auto-finance default reading came in at the lowest point in the past 10 years, Agora Data tried to generate more clarity about delinquency specific to the buy-here, pay-here industry. Through which AgoraInsights shared exclusively with BHPH Report this week, Agora Data used its newest feature to track the impact of COVID-19 since […] [Read More]

Responding to the COVID-19 pandemic that they say has impacted the automotive industry worldwide, EDealer and EBlock are waiving all contract, set-up and transactional costs associated with their touchless trade-in product, Guaranteed Trade, until August for every dealer in Canada. EDealer and EBlock chief executive officer Jason McClenahan said that although car sales have seen […] [Read More]

And now we turn to digital retail.  After launching the series earlier this month, Cherokee Media Group has released Part II of a whitepaper series on "A New Age of Digital Buying & Selling" to share trends and best practices for a used-car industry that’s increasingly digital — and even more so in recent weeks. Part II […] [Read More]

Perhaps still reflecting seasonality, S&P Dow Jones Indices and Experian noticed the auto-finance default rate improved in March. In fact, the rate not only improved, but it also dropped to the lowest reading going back 10 years. With other data sets are showing soaring unemployment and plunging used-vehicle values, the auto component of the March […] [Read More]

Kelley Blue Book describes the 2018 Toyota Prius as “smooth and precise.” It also says the vehicle is “comfortable, quiet and easy to drive.” “It’s also agile,” the company writes. For those reasons, Kelley Blue Book has placed the 2018 Prius at the top of its latest list of “10 Best Used Hybrids and Electric Cars […] [Read More]

After car sales, manufacturing, repair and other key pieces of automotive were found to be essential businesses in a guidance update from the Department of Homeland Security’s Cybersecurity & Infrastructure Security Agency on Friday, it begs this question: Would the wholesale and auto auction industry be included? “I think it's still open to interpretation, but […] [Read More]

To help auto dealers and other small businesses continue their sales online during the COVID-19 crisis, consumer engagement technology company Digital Air Strike is partnering with GoDaddy for its #OpenWeStand campaign. To help businesses and consumers do more online and virtually through video, AI, social media and automation, Digital Air Strike is giving away its Virtual […] [Read More]

The second top-level executive move involving AutoNation this month happened on Wednesday morning as the dealer group said executive vice president and chief operating officer Jim Bender has been appointed as president and chief operating officer. The action arrived 10 days after the AutoNation’s board of directors granted the request of Cheryl Miller, chief executive […] [Read More]

Given the unprecedented climate that has taken place resulting from the COVID-19 outbreak and containment efforts, we have received a large number of questions in regard to how this event impacts credit reporting particularly given the recent support from the lending community around payment deferrals, loan modifications, etc. We wanted to share some important resources […] [Read More]