Tax season market strength wasn’t done with the auction in May — wholesale prices remained elevated for the third straight month. And according to NADA’s latest Guidelines report, strong seasonal demand served to lift NADA’s used-vehicle price index to a new high of 126.8. This is 0.5 percent better than the previous record set just […] [Read More]

Quebec’s Mercedes-Benz Rive-Sud broke grown on a new larger dealership facility at the same location that has been home to the store for more than 50 years. Tim Reuss, president and chief executive officer of Mercedes-Benz Canada, along with company executives, recently joined Claude Leclair, Carolynn Leclair and François Leclair, respectively president, vice president and […] [Read More]

Chrysler announced Tuesday morning that 86 dealers in North America have been awarded Alfa Romeo franchises, with expectations that number may one day grow past 300 locations. This initial pool of dealers have been picked from existing FIAT and Maserati brand dealers, and includes 82 dealers in the U.S. and four in Canada. These stores […] [Read More]

Wholesale prices began falling in May, and according to NADA’s latest Guidelines report, the trend isn’t expected to slow down this month. NADA is predicting that prices will fall between a range of 2 percent to 2.5 percent this month. As for the rest of the summer, used-vehicle depreciation is expected to drop to a […] [Read More]

A combination of factors prompted research firm IBISWorld to report that revenue for repossession agencies is projected to increase during the next five years. IBISWorld analyst Maksim Soshkin explained what is sparking that forecasted revenue rise through 2019 includes increasing per capital disposable income levels and declining unemployment predicted to create more consumer spending. As […] [Read More]

Carfax is ramping up their presence in Canada, with a redesigned vehicle history report for Canadian dealers as well as a subscription-based offering. Now, Canadian dealers can enjoy similar benefits to those U.S. dealers have been enjoying since 2011, through the Carfax Advantage Dealer Program. This news comes after the company hired Jon Arnett as […] [Read More]

Although the average age of a vehicle on the road today is steady from a year ago and appears to have reached a “plateau,” the number of vehicles out there has hit an all-time, according to IHS Automotive. And in what’s potentially good news for dealers and their certified pre-owned operations, IHS is forecasting strong […] [Read More]

Two of the three domestic automakers made vehicle recalls last week, totaling about 120,000 units, most of which were included in four actions taken by General Motors. GM added to its extensive list of campaigns by announcing three safety recalls and one non-compliance recall; all of which the automaker said were reported to the National […] [Read More]

Manheim Riverside has received recognition from the City of Riverside, Calif., for its philanthropic efforts on behalf of community nonprofits, including teen crisis center Operation Safehouse. Also among its recent community efforts was participating in a fundraiser with Make-A-Wish, joining two other Manheim locations in California. More than 80 employees from three Manheim operating locations […] [Read More]

After falling 0.4 percent last month, auction prices were still on the way down during the first week of June. According to Black Book data, the car segments saw prices fall by $57 last week, larger than the $44 decline seen the week prior. This is compared to a $33 slide for cars during the […] [Read More]