Results of the Brand Perception of Quality study orchestrated by ALG showed how Honda and Mercedes-Benz edged out their import competitors to deliver what consumers perceive to be the highest quality vehicles. ALG, the analytics division of TrueCar, indicated that Honda received the highest ratings among mainstream brands, followed by Toyota and Volkswagen. Mercedes-Benz earned […] [Read More]

May represented a best-ever month for certified pre-owned sales, as dealers moved 207,371 CPO vehicles, beating year-ago figures by nearly 11 percent. That’s according to numbers released Wednesday afternoon by Autodata Corp., which said May sales were “the highest ever” and beat April by 7.4 percent and eclipsed May 2013 by 10.9 percent. What’s more, […] [Read More]

As the buying and selling of vehicles becomes more of a digital process, the lines between wholesaler, retailer and consumer continue to blur. Cheryl Munce, chief executive consultant at ALTESO Inc. and panelist at the 2014 Auto Remarketing Canada conference, goes so far as the ask the industry this question: “Isn’t it time to lead […] [Read More]

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]