In the past 60 days, AutoCanada has acquired a franchised dealership, a large independent store and a collision center. Late on Tuesday, the company announced it acquired an auto auction by making a deal to get North Toronto Auction, a fee-based used-vehicle auction business, serving dealers and consumers alike, located in Innisfil, Ontario. AutoCanada said […] [Read More]

Sonia Jain is returning to Cars.com as chief financial officer on Oct. 17 after stepping down from that position in April to pursue another career opportunity. Jandy Tomy has been interim CFO since April and will remain with CARS as executive vice president of finance and treasurer. “We are thrilled to have Sonia back as we […] [Read More]

CarMax president and chief executive officer Bill Nash opened his comments during the company’s quarterly earnings call last week by noting that CarMax had “a significant number” of stores in Hurricane Ian’s path and that associates’ safety was the company’s top priority. But continuing on with his comments during what was CarMax’s second quarter fiscal year 2023 Earnings […] [Read More]

The timeframe for data included in the newest Market Insights from Black Book coincided with the first day of October. That week also included Hurricane Ian smashing into Florida before drenching the Carolinas and other parts of the East Coast. With the resulting flooding likely destroying an undetermined number of vehicles, Black Book’s analysts are […] [Read More]

As America continues to lean into the idea of electric vehicles, new research from AAA did find some hesitation, with top objections such as range anxiety, cost and accessibility holding consumers back from plugging into these models. Armed with that information, AAA Club Alliance (ACA), the fourth largest club in the national AAA federation, recently […] [Read More]

On Tuesday morning, Cox Automotive gave a positive update about the status of Manheim operations in Florida in the path of Hurricane Ian. Tim Janego, Manheim regional vice president for Southeast, said in a message to Auto Remarketing, “We are grateful to share that all Manheim employees in the path of Hurricane Ian are safe […] [Read More]

APCO Holdings wants to help dealers get the most out of what reinsurance programs can provide. On Monday, the provider and administrator of automotive F&I products and home to the EasyCare and GWC Warranty brands, released a free guide for auto and RV dealers titled, “Building a Profitable Offense: A Playbook for Winning the Reinsurance […] [Read More]

The customers in your auto finance company portfolio or arriving at your dealership might not be feeling so great about their current family budget situation based on the latest research recently shared by LendingClub Corp. and the BMO Real Financial Progress Index. Findings from the 14th edition of LendingClub’s Reality Check: Paycheck-To-Paycheck research series, conducted […] [Read More]

It was another week of price slowdowns in the Canadian wholesale market, with overall values dropping 0.27% for the week ending Friday, according to the latest Market Insights report from Canadian Black Book. That compares to a 0.30% decline the prior week. During the 2017 to 2019 timeframe for the same week, the average movement […] [Read More]

Automotive dealers have pivoted in the wake of inventory shortages due to pent-up demand, chip shortages and other manufacturer shortages. This has skyrocketed the interest for pre-owned vehicles  —giving automotive dealers high incentives to find trade-ins or buy used vehicles at auction to stock their lots for the incoming buyers. It isn’t as simple as […] [Read More]