Porsche Canada announced today it has broken ground on the site that will be home to a new Porsche Center as well as the company’s new headquarters. The new dealership will be the fourth greater Toronto area Porsche Center, and will house the brand’s first training center in Canada. The training center will feature two […] [Read More]

Really, anywhere that Howard Segal has gone, there have been cars. His job as a youth at the gas station, pumping fuel at age 13. Following the footsteps of his older brother, the southern New Jersey native then became a mechanic in his late teens. That eventually led to the dealership world, auto finance and […] [Read More]

To borrow from “Sesame Street,” one of these things is not like the others. Surrounded by mostly trucks and larger vehicles, the model at the top of the heap of auction price strength in the third quarter was the Nissan LEAF, according to Kelley Blue Book. Its latest Blue Book Market Report indicates that KBB […] [Read More]

In the last seven years, the average age of vehicles on the road in the U.S. increased by 15 percent to 11.5 years. How will that rate change in the next five years? According to Mark Seng, the global aftermarket practice leader for IHS Automotive, the company’s prediction is an increase in overall average age […] [Read More]

Since humble beginnings in the early-to-mid 1990s, the certified pre-owned business has picked up steam in the past decade or so, particularly in the last five years. Autodata Corp. data indicates that 2011, 2012, 2013 and 2014 were each record-breaking years for CPO, and 2015 is on pace to be an all-time high, as well. So, […] [Read More]

Wholesale prices were on the way up last month, and that marks the fifth month in a row auction prices have spiked. This increase brought the Manheim Used Vehicle Value Index up to 125.3, which is exactly where it started 2015, and up 2.9 percent from October of 2014, on a mix-, mileage- and seasonally adjusted […] [Read More]

AutoCanada Inc. announced its third quarter results late Thursday, reporting an increase in revenue and gross profit. The company also shared with the investment community that it will be turning its sites on Eastern Canada in regards to acquisitions, as the oil-heavy Western economy continues to struggle. Among the company’s third-quarter highlights was an increase […] [Read More]

The AFC unit of KAR Auction Services enjoyed a solid third quarter, with volumes climbing 13 percent and profitability remaining strong. According to the parent company’s quarterly earnings information, AFC had 405,116 loan transactions in Q3, up from 358,800 in the same period of 2014,  pushing the year-to-date sum above 1 million (1,198,473). AFC revenue […] [Read More]

EFG Companies, partnered with Northwood University, this week announced the judging panel for the first annual F&I Innovator of the Year Award competition. According to EFG, the eight-member panel collectively touts over 100 years of F&I experience at auto dealerships and has experience at all of the major brands. “Each judge selected for this panel […] [Read More]

Xcira has obtained a strategic equity investment from Ritchie Bros., an international industrial auctioneer company. Xcira, which is a technology supplier for the traditional auction business, has had a relationship with Ritchie Bros. for 14 years. However,  this equity stake changes the game a bit. The company said the investment will allow it to invest […] [Read More]