Kia Canada Inc. announced a new online tool for dealers, fleet and rental partners that should make acquiring pre-owned and CPO vehicles a bit easier in this tight supply environment. Kia has partnered with web-based auction AutoGavel Exchange — powered by North Toronto Auction — to offer another online inventory option for dealers. [Read More]

LeasePlan USA announced this week the expansion of its sales team. Tasked with the responsibility of generating new business relationships for LeasePlan while delivering on the brand promise of “it's easier to Leaseplan,” are Bob Barna, sales vice president of strategic accounts, and Steve Arkon, sales vice president of national accounts. Barna brings a diverse […] [Read More]

With the collector car industry booming, Barrett-Jackson announced this week that the company has sold out of consignments for its Las Vegas auction, which is taking place at Mandalay Bay Resort & Casino today through Saturday. Company officials highlighted this sale will be the largest Las Vegas auction in their history with nearly 700 incredible […] [Read More]

Following its monthly survey of dealers and industry contacts conducted in August, KeyBanc Capital Markets said it remains “bullish” on the outlook for franchised dealers based on wide array of factors closely related to these stores. Analysts determined that used-vehicle sales should increase at the compound annual growth rate in the mid-single digits during the […] [Read More]

With lease penetration rates on new-vehicle sales reaching new highs, an industry observer mentioned to Manheim chief economist that some analysts have expressed concern and say that leasing is being used to boost sales artificially. Webb replied to that inquiry while also answering whether there is a “natural” lease penetration rate that, if exceeded, hurts […] [Read More]

As fall gets underway, wholesale prices seem to be following seasonal trends, perhaps good news for dealers. NADA Used Car Guide said it expects wholesale price movement to decline this week, falling by 0.3 percent, or $50. And most all segments are expected to drop, except for large pickups and luxury cars, which are both […] [Read More]

Earlier this week, Copart released its earnings report for the fourth quarter and year ending July 31, and said it saw gains in revenue, but decreases in operating income and net income. Starting off with the full-year results, Copart pulled in revenue of $1.05 billion, which marked a 13.2-percent year-over-year increase. Operating income was $283.0 […] [Read More]

Manheim Toronto announced a new hire this week. Tapped for the position of general manager is Don Wallace. In his new role as GM, Wallace will be responsible for all business operations at Manheim’s Canadian flagship location, the company reported. Wallace has worked with Manheim Canada for two years now, leading e-business and product development […] [Read More]

The 2013 Vinventric Best Value in Canada awards were recently released, with three brands, in particular, topping the charts. First up, Toyota received its second consecutive award as Best Value Passenger Car Brand and picked up eight individual vehicle awards. Mercedes-Benz dominated the luxury category, retaining its Best Value Luxury Brand title and also picking […] [Read More]

Dealertrack Technologies announced it has appointed a new head to its Canadian operations. Named to the position of vice president and general manager of Dealertrack Canada is Michael McCarthy. The new hire has an extensive background in financial services. McCarthy is joining the company from Davis & Henderson, where he was vice president for lending […] [Read More]