Almost overnight, it seems artificial intelligence is revolutionizing industries worldwide, and its impact on automotive is no exception. With the help of AI, automotive finance and lease businesses are already streamlining processes, improving customer experience, and detecting fraud. For lenders, AI offers a more efficient underwriting approval process. For borrowers, AI-powered platforms make it easier […] [Read More]

Another day, another major acquisition for Penske Automotive Group. The global automotive giant added another dealership Tuesday with the purchase of Bill Brown Ford in Livonia, Mich., from Tom and Ruth Ann Brown. The dealership, founded in 1940, has been named the nation’s highest volume Ford dealer each of the past three years and claims […] [Read More]

Ship.Cars is getting real. The auto logistics technology provider announced the addition of a real-time tracking/status link feature designed to give end customers updates on their vehicle shipments from dispatch to delivery, with 24/7 access to shipment status and locations. The company said the new feature, typically only available from last-mile delivery services in the […] [Read More]

With bankruptcy filings already on a notable upward trajectory, experts pointed out why the next six to 18 months merit particular watching by dealerships, finance companies and other operations with a vested interest in bankruptcy. According to data provided by Epiq AACER, total bankruptcy filings came in at 251,012 during the first six months of […] [Read More]

Most Canadians who purchase a vehicle need financing. A trio of industry executives described the current financing landscape during this year’s Canada’s Used Car Week. For this episode of the Auto Remarketing Podcast, we take you back to Toronto for a conference panel discussion focused on the state of auto finance in Canada. The panel […] [Read More]

The practice of markdowns has long been a cornerstone of retail strategy across various industries, and the auto sector is no exception. Historically, the manufacturer’s suggested retail price (MSRP) has been a constant part of a vehicle’s pricing, and an important element of the car-shopping process for consumers despite changing economic trends over the years. […] [Read More]

For the first time ever, an electric vehicle was the month’s best-selling vehicle at Manheim. Another first: two EVs cracked the auction’s list of five best-sellers in a month. That’s what happened in June, when the 2023 Tesla Model 3 ranked as the No. 1 seller for the auction company and the 2023 Chevrolet Bolt […] [Read More]

According to the Insurance Bureau of Canada, the cost of insurance claims for replacing stolen vehicles in Canada soared to a record-breaking $1.5 billion in 2023, the second consecutive year auto theft claims costs have surpassed $1 billion. And the National Insurance Crime Bureau (NICB) and the National Highway Traffic Safety Administration (NHTSA) said more […] [Read More]

Next up on our series of Auto Remarketing Podcast episodes from the Canada’s Used Car Week Podcast Stage is a conversation with Casey Harmon and Jody McComb of RunBuggy, which is a technology platform designed to improve the vehicle transport industry. Ahead of U.S.-based RunBuggy’s July 1 launch in Canada, Harmon and McComb  sat down […] [Read More]

The National Auto Auction Association’s arbitration policy and certification guidelines have gotten a few upgrades. NAAA’s Auction Standards Committee has issued updates to those documents. NAAA said the changes, which will take effect Aug. 5, were made to “add clarity, improve transparency and better reflect the evolving nature of the industry.” The association said the […] [Read More]