AutoCanada recently entered into a new $240 million revolving floor plan facility agreement with The Bank of Nova Scotia, replacing its existing facility with Ally Credit Canada. Executives explained that the new revolving floor plan facility will be used to finance the purchase of new- and used-vehicle inventory at 21 of AutoCanada’s dealership locations. They […] [Read More]

A new product is sent to hit the Canadian fleet industry, potentially making it easier to calculate ownership costs. Vincentric revealed this week the realease of its Dynamic Cost to Own: Canada Fleet Edition calculator. “This online lifecycle costing tool for Canada is an extension of the Dynamic Cost to Own product line, resulting in […] [Read More]

As gas prices continue to rise at a steady pace, it seems consumers are taking note and turning away from larger gas guzzlers — a trend that is showing in the lanes. Out of the segments NADA Used Car Guide tracks, the luxury utility and large SUV segments are expected to see the biggest drops […] [Read More]

To see where Volkswagen’s upcoming WorldAuto program may have already had some impact on the company’s dealer body, take a look at one particular VW store in Orange County, Calif. According to the dealership’s used-car manager, Capistrano Volkswagen’s sales of off-brand used vehicles jumped 37 percent year-over-year in June. And while acknowledging that there may […] [Read More]

Automakers are making strides in building confidence among American consumers when it comes to hybrid vehicles, according to a new Harris Poll. That interest is strongest among younger drivers and favors imports over domestic vehicles. Interest in hybrid vehicles over traditional combustion engine vehicles is up from last year, with 32 percent of car owners […] [Read More]

Ever wondered how some of these long-time family run auction companies got their start? Holding a slew of facilities serving the western states, Brasher’s Auto Auctions took the time recently to tell its customers the “family” story. In a video posted to the company website, vice president Ben Brasher outlines the company’s history, throwing in […] [Read More]

ADESA announced that the company’s 68 North American auction locations will observe National Auto Auction Week, which is scheduled for Aug. 20 through Aug. 24. The company recapped that National Auto Auction Week was established by the National Auto Auction Association to recognize its members and the contributions they make both to the national economy […] [Read More]

As part of a series of training sessions scheduled during the remainder of the year, RouteOne is going to host a free Webinar titled, “Managing Adverse Action.” The upcoming Webinar set for 1 p.m. ET on Tuesday will include members of RouteOne’s legal department and product development team. Organizers are looking to educate dealers on […] [Read More]

KAR Auction Services chief executive officer Jim Hallett spent much of Tuesday’s conference call with investment analysts talking about volume and dealer consignment rather than the company’s latest financial performance. The dialogue stemmed in part from ADESA sustaining a year-over-year drop in vehicle conversion percentage to 55.6 percent, excluding OPENLANE activity. In the second quarter […] [Read More]

Prices continued to fall in the lanes this past month, according to the Manheim Used Vehicle Value Index.  In fact, marking the fourth consecutive monthly decline, wholesale prices slid 1.8 percent in July. This shift brought the Index to a level of 121.2, down 3.7 percent from a year ago, according to the analysis from […] [Read More]