May brought with it another record month of certified pre-owned sales for two automakers. This past month, Mazda Canada, whose CPO program launched a short two years ago, notched its best month ever for CPO sales. The company sold 613 certified vehicles in May, up from 554 sold during the same period of 2013. Year-to-date, […] [Read More]

The Ford F-150 has been ousted from its spot as most appraised vehicle in Canada — a spot which it held from January through April. This May, the Honda Civic Sedan rose to the No. 1 spot, according to the results of the latest TradeTracker Used Vehicle Market report. The Mazda3 came in at No. […] [Read More]

After tax-season kept prices strong in the lanes earlier this spring, May depreciation rates showed signs of the seasonal “summer slowdown.” Average prices fell by 0.4 percent last month when compared to April rates, according to Black Book data. On top of normal seasonal changes, a softening in the lanes is also being spurred by […] [Read More]

EFG Companies announced Wednesday it has been awarded the Blue Seal of Excellence by the National Institute of Automotive Service Excellence (ASE), based upon the required certification level of  its claims organization. Officials explained this certification exemplifies EFG’s commitment to customer service excellence while also enhancing the company’s ability to negotiate quality vehicle repairs on […] [Read More]

This week, Paymaxx Pro integrated its payment processing services with Cars Plus DMS, operated by Radiant Concepts. The alliance is aimed at giving dealers the ability to efficiently provide consumers with more options for payments while simultaneously reducing costs and fees for operators using this dealer management system. Cars Plus DMS is a management software […] [Read More]

For dealers and finance companies that specialize in working with consumers with credit scores below 550, May turned out to be a pretty good month for used-vehicle sales. CNW Research found that turns to buyers in this credit segment increased by more than 9 percent year-over-year as the industry posted 734,165 retail used sales to […] [Read More]

Driven in part by the increasing retail price for vehicles, the latest Equifax National Consumer Credit Trends Report showed the total outstanding balance of current auto loans reached a new record high in April. Equifax determined outstanding balances closed April by rising 10.8 percent from the same time a year earlier to come in at […] [Read More]

More — and more relevant — used-car information to simplify the buying process: That’s the aim of new technology from PureCars. On Wednesday, the company announced the launch of its all-new Value Intelligence Platform, or VIP. Using PureCars' proprietary algorithm, which pulls from more than 1 billion data points of reference, the platform organizes and […] [Read More]

Internet Brands, an online media and software services organization that includes such automotive players as CarsDirect, Chrome Data and Autodata Solutions, announced earlier this week that it will be purchased by global investment firm KKR. The two companies signed a definitive agreement in which KKR will purchase Internet Brands from Hellman & Friedman and JMI […] [Read More]

Without giving specific figures, Copart chief executive officer Jay Adair described salvage vehicle prices as “what we would expect,” when the company discussed the financial performance of the third quarter of its fiscal year. Reflecting on the span that wrapped up on April 30, Adair indicated that pricing for salvage units “tends to peak in […] [Read More]