Last week, prices at auction decreased by 0.42% overall, according to the latest analysis from Canadian Black Book. CBB data indicates that prices held a bit stronger than weeks prior. Two weeks ago, prices dropped by an average of 0.61%, up slightly from the previous week. The car segments were ahead in depreciation two weeks […] [Read More]

Toyota and Lexus come out on top when it comes to quality, durability and pricing. That’s according to J.D Power’s 2024 Canada ALG Residual Value Awards. ALG is the division of J.D. Power known as the industry benchmark of automotive residual value projections. The annual awards recognize the vehicle models that are projected to hold […] [Read More]

Ravin AI, a provider of artificial intelligence-powered vehicle condition technology, has entered a strategic partnership with Black Widow Imaging, a provider of high-resolution imaging systems, to support the deployment of Ravin AutoScan at rental, dealership and auction locations throughout the U.S. Ravin said its AutoScan technology is “set to scale up services dramatically” and expects […] [Read More]

With an Illinois law related to consumer data protection and repossessed vehicles now in place for several months, MBSi rolled out new capabilities to help repo agents and finance companies. Last week, MBSi added a new data removal feature that’s available in its RecoveryConnect platform as well as RCM, its mobile application. To recap, Illinois […] [Read More]

A large dealership group added another state to its footprint — in a big way. Ed Morse Automotive Group said it is acquiring seven dealerships in Sierra Vista, Ariz., from Lawley Automotive Group. They’ll be Ed Morse’s first locations in the state. The deal includes Lawley Chevrolet GMC, Lawley Chrysler Dodge Jeep Ram, Lawley’s Team […] [Read More]

While car prices were high in 2023, car buyers — especially used-car buyers — were increasingly happier with their experience, according to the latest research from Cox Automotive. Cox’s recently released 2023 Car Buyer Journey Study found 69% of all car buyers reported being highly satisfied with their shopping experience, up from 61% in 2022. […] [Read More]

There was a bit of relief in the wholesale used-vehicle market last month, and not just in terms of prices falling year-over-year. January’s month-over-month steadiness in used-car prices was a respite from the volatility in 2023. Cox Automotive’s Manheim Used Vehicle Value Index for January came in at ... [Read More]

FM Capital added two more industry experts to boost the venture capital company, which focuses on early-to-mid stage companies in automotive and transportation technology. Joining as technology operating partners are Jake Sigal and Massimo Baldini, who FM Capital called “auto tech pioneers.” According to a news release, the pair will not only provide a range […] [Read More]

Mitsubishi Motors North America, AutoFi and Santander Consumer USA are now working together to deliver “an unparalleled and seamless shopping experience.” This week, the industry trio launched ClickShop 2.0, which connects the vehicle-buying journey from Mitsubishi’s Tier-1 and dealer partners’ Tier-3 websites directly to the Mitsubishi dealer showrooms. ClickShop 2.0 combines MMNA’s dealer-partner network with […] [Read More]

In a nod to the old cliché of “knowledge is power,” CUDL published a new digital book this week that explains how credit union financing can help dealerships sell more vehicles during challenging economic times. Officials from CUDL — the Origence brand representing their credit union financing network — highlighted that the digital book titled, […] [Read More]