AutoCanada announced this week it has increased its existing syndicated credit agreement by $60 million, bringing total availability to $190 million.  The facility now includes HSBC Bank Canada, Alberta Treasury Branches, and Royal Bank of Canada with HSBC acting as administrative agent to the Credit Agreement.  "We very much appreciate the support and continued confidence […] [Read More]

Toyota is recalling more than 6 million vehicles worldwide in five actions covering nearly 30 different models. Of those actions, two impact the U.S. According to a statement from Toyota Motor Corp. posted to Bloomberg.com, the five recalls tally up to 6.76 million vehicles spanning 27 Toyota models, the Pontiac Vibe and Subaru Trezia. The […] [Read More]

A few surprises top the winners list in the Kelley Blue Book 2014 Brand Image Awards, announced today and based on annual new-car buyer perception data.  Earning Best Overall Brand with the highest average scores among all 12 Brand Watch factors is Honda, for the second year in a row. Brand Watch factors include affordability, […] [Read More]

Subaru of America recently announced its 2013 Auction of the Year — an award based on sales effectiveness and service quality — and taking this year’s honors is Manheim New Jersey. Subaru determines the winning auction by tracking and measuring three key components: total sale percentage, retention to goal price and number of unique buyers. […] [Read More]

For every iteration of smartphone products to hit the market, it seems as if consumer demand to replace their current device is moving just as fast as the technology. In fact, a study from Swapalease.com cites data from Recon Analytics indicating that Americans, on average, change their phones after about 22 months — and this […] [Read More]

Copart launched its first-ever competition on Tuesday called the Copart Rebuild Challenge, a contest designed for car enthusiasts and auto rebuilders to show how they restored, customized or rebuilt a vehicle. From April 14 to July 6, enthusiasts and rebuilders can enter the Copart Rebuild Challenge by submitting a video less than three minutes in […] [Read More]

Though many were expecting used prices to decline toward the end of March, rates remained high, and they aren't expected to drop until later this month. According to NADA Used Car Guide’s latest Guidelines report, this indicates prices won’t fall off during the first few weeks of April. Jonathan Banks, NADA UCG executive analyst, said […] [Read More]

The lists of used vehicles most researched in March at NADAguides.com as well as Kelley Blue Book’s website reinforced how diverse the customer base is that dealers are trying to serve nowadays. Among the top 10 most-researched used models at NADAguides.com, the first three models were full-size pickups, led by the Ford F-150, then the […] [Read More]

In addition to dissecting April’s “plentiful” new-car incentives and lease deals spurred by the need to move inventory in preparation for the arrival of new vehicles, Cars.com said in an analysis this morning that special manufacturer promotions have driven leasing levels that approach all-time highs. “Relatively slow sales pace in the first quarter of 2014 […] [Read More]

If you have an idea for a car or truck industry discussion topic, the National Automobile Dealers Association is taking proposals for workshops for the 2015 NADA-ATD Convention now through May 2. The deadline to submit is 5 p.m. EST on May 2. NADA is expecting thousands of dealers and their employees to attend in […] [Read More]