General Motors Canada announced this week that it has been awarded a mandate to build a fleet of self-driving 2017 Chevrolet Volts at its Canadian Engineering Centre in Oshawa, Ontario. This was confirmed by Steve Carlisle, the president and managing director of GM Canada, while speaking to the Economic Club of Canada in Ottawa on […] [Read More]

The November certified pre-owned sales total fell more than 4 percent from year-ago figures, according to Autodata Corp., but year-to-date sales are moving nearly 9 percent higher with 2.33 million CPO sales through 11 months. There were 184,080 CPO sales in November, which was off 4.7 percent year-over-year and down 13.8 percent month-over-month, Autodata said […] [Read More]

It was announced this afternoon that Sudbury Auto Auction has changed hands. Impact Auto Auctions — a subsidiary of Insurance Auto Auctions and a business unit of KAR Auction Services — has purchased the assets of the facility, a move that will serve to give Impact Auto Auction’s Remarketing Division a chance to expand into northern […] [Read More]

After gathering its third-quarter data, Experian Automotive spotted the highest percentage of vehicles leased since the company began tracking the data publicly in 2006. While leasing is immensely popular with consumers who want a shiny, new ride at a more affordable price, one national analyst acknowledged there are “some risk factors to keep an eye […] [Read More]

Digital marketing intelligence company Netsertive highlighted on Wednesday that it raised an additional $9 million to complete its $24 million Series C financing. This announcement comes on the heels of the company’s recognition by Deloitte Fast 500 as one of North America’s fastest-growing companies, with 668 percent growth over the past three years. “We are […] [Read More]

Car Harmony, founded this year as part of the Hankey Group, announced the launch of its new online car-shopping service on Tuesday. The company is backed by fellow Hankey Group members, which includes well-known auto industry companies such as Westlake Financial Services, Nowcom Corp. and Midway Car Rental. The company, co-founded by the 2014 SubPrime […] [Read More]

Dealers, have you had to try to fit cars, car or auto into your URLs, perhaps producing an unwieldy or hard-to-remember Web address? Well, the latest announcement from Cars Registry — a joint venture between domain companies XYZ and Unregistry — might come in handy, then. The team at Cars Registry announced on Wednesday the availability […] [Read More]

As captive activity also registered gains, Experian Automotive highlighted on Wednesday that what it classifies as finance companies — institutions that don’t hold customer deposits but get most of their business from consumers with subprime and deep-subprime credit — gained a healthy amount of market share year-over-year during the third quarter. According to the Q3 2015 […] [Read More]

Fitch Ratings analysts used the terminology “minor cracks” to describe the auto ABS loss trends they continue to see emerging in both the U.S. prime and subprime markets. Analysts spotted that subprime annualized net losses rose for the fifth consecutive month to 8.05 percent in October, further diverging from prime annualized net loss trends. “Despite […] [Read More]

Seen as the raw material to generate more originations, Consumer Portfolio Services announced this week that it has entered into a new two-year revolving credit agreement with Credit Suisse AG and Ares Agent Services. Executives indicated loans under the new credit agreement will be secured by automobile receivables that CPS now holds or will purchase […] [Read More]