Canadian wholesale values were ahead of year-ago levels in May, but prices dropped sequentially across the board as the auction market incurred a 2-percentage-point month-over-month dip, according to OPENLANE. The company’s latest Canadian Market Index was at 99, down from 101 in April and up from 95 in May 2010. Values for cars, minivans, SUVs […] [Read More]

Manheim Canada has teamed up with Leader Auto Resources, a North American auto dealer cooperative, to roll out a pilot program that will give discounts to LAR dealer owners when they utilize auction services at the Manheim Montreal auction. “This is a significant partnership for Manheim Canada and a natural fit for LAR as it […] [Read More]

Canadian fuel costs are expected to continue rising for the next few years and the U.S.-Canada exchange rate is projected to hover near parity for “the foreseeable future,” according to the latest Industry Report shared by ALG Canada. The report offered the company’s take on how these factors will impact Canadian residual/resale values. Specifically, the firm believes that […] [Read More]

General Motors is re-launching its certified pre-owned program today with a new official name, a new branding strategy, a more thorough inspection explanation and what GM officials are calling an "industry first:" a two-year/30,000-mile free maintenance program called Owner Care. Jennifer Costabile, general director of used-vehicle activities for GM, and Larry Pryg, the program’s national manager, talked […] [Read More]

Thanksgiving dinner might be on the table at about the same time OPENLANE expects significant wholesale price declines. As the May OPENLANE Market Index hit 110 — the fourth time it’s been at this level or higher in the past two years — predictions about it receding anytime soon didn’t come from Nagi Palle, OPENLANE’s […] [Read More]

NADAguides unveiled a list of vehicles Thursday that are generating the most market buzz, but also are showing the most limited supply. Interestingly enough, three of the six models listed on the Most In Demand Vehicles Report were from Hyundai or Kia. Ford, Toyota and Honda claimed the other three spots. The first step NADAguides analysts took in creating […] [Read More]

In what was described as a “mixed, but fairly robust” market, dealers by and large have experienced either stable or improving vehicle sales. As for supply issues, they have been spotted quite often throughout the country and have had some adverse effects, according to the Federal Reserve’s latest Beige Book report. The used-vehicle market is also […] [Read More]

Auction industry veteran John Rea has a new executive role with a technology company that develops auction management software. Rea — who was president of the National Auto Auction Association back in 2008 — was tapped to be the chief operating officer for Auction Software (ASI). Chairman of the board Ron Ball chose Rea Thursday […] [Read More]

The Father’s Day Council has chosen to honor Hendrick Automotive Group’s director of variable operations with a Charlotte, N.C., 2011 Father of the Year Award. The nonprofit, formed in 1931, identifies and honors fathers all over the country who have demonstrated the ability to balance their careers with their personal lives and duties as parents. […] [Read More]

Highlighted by a special offer to move 2011 Ram 1500 pickup trucks, Chrysler Group rolled out a series of special financing incentives to run this month. The automaker announced qualified consumers who purchase a Ram 1500 Regular, Quad or Crew Cab pickup truck may be eligible for zero percent financing for up to 60 months and […] [Read More]