Premium Articles
Challenges amid opportunity: The double-edged sword of EV remarketing
Monday, Sep. 18, 2023, 04:47 PM
Joe Overby, Senior Editor
When comparing an electric vehicle to a car with an internal combustion engine, think of a dolphin and a fish, says Brian Donnelly, director of partnerships at Autotech Ventures.
On the outside, the two animals look quite similar. Underneath the hood, so to speak, they’re completely different, as one is a mammal and the other a fish.
The same goes for EVs and ICE vehicles ... [Read More]
State of EVs: ‘Better product at a better price’ will drive growth
Monday, Sep. 18, 2023, 03:50 PM
Andrew Friedlander, Associate Editor
The market for electric vehicles is growing, and the key to that growth will be “a better product at a better price,” according to Bank of America senior automotive analyst John Murphy.
In his keynote presentation of Bank of America’s third annual EVolution electric vehicle summit — a virtual event to discuss the latest trends in electric vehicles and environmental sustainability with industry experts — Murphy said last year’s EV growth from ... [Read More]
CPO sales hit highest monthly total in more than 2 years
Friday, Sep. 15, 2023, 12:27 PM
Joe Overby, Senior Editor
Through eight months of 2023, certified pre-owned vehicle sales are beating prior-year figures by 8% as the segment remains a “bright spot” in the overall used-car landscape, according to a presentation Tuesday by Cox Automotive analysts.
In fact, August was the strongest month for ... [Read More]
Equite lead investigator aims to repatriate illegally exported vehicles to Canada
Friday, Sep. 15, 2023, 11:34 AM
Sarah Rubenoff, Correspondent
Reports of growing vehicle theft across the provinces has spurred many to call for vehicle theft safety regulation updates and improvements, as well as stronger efforts to find and repatriate these stolen vehicles.
For example, in early September, the Equite Association called on Transport Canada to adopt new standards set out by UL standards and engagement (ULSE), to be more in line with U.S. regulations and standards.
These changes would update Canada’s federal motor vehicle safety regulations and ... [Read More]
J.D. Power outlines normalization of auto service sector as dealers gain market share
Thursday, Sep. 14, 2023, 09:51 AM
Sarah Rubenoff, Correspondent
J.D. Power Canada recently released data that shows the auto service market is normalizing from COVID-19 impacts, and dealer share of the market is growing.
Auto Remarketing Canada spoke with J.D. Ney, automotive practice lead at J.D Power Canada, to get more insight into the company’s Canada Customer Service Index—Long-Term (CSI-LT) Study results ... [Read More]
Cox economist: Auto markets should stand strong despite economic headwinds
Tuesday, Sep. 12, 2023, 04:28 PM
Andrew Friedlander, Associate Editor
Even with the looming threat of an autoworkers strike, rising interest rates and a shaky economy that might or might not be on the verge of a recession, car dealers should come out OK the rest of this year.
That’s the reassuring message sent by Cox Automotive senior economist Charlie Chesbrough in “Charlie's Real-Time Quarterly Market Update,” a webinar presented last week by the American International Automobile Dealers Association.
Experts are split on whether there will be a significant economic downturn, but, Chesbrough said ... [Read More]
CFLA leader calls for national resources, industry cooperation to address growing vehicle theft challenge
Tuesday, Sep. 12, 2023, 10:21 AM
Sarah Rubenoff, Correspondent
Growing vehicle theft in Canada: It's a trend that has been hiding in the wings for a while, says Michael Rothe of the Canadian Financing and Leasing Association.
But for many in the auto industry, it didn’t hit their radar until 2020, when the data became hard to ignore.
According to a recent report from the CFLA, there were over ... [Read More]
Originations rising as auto lenders keep close tabs on economic environment in Canadian provinces
Tuesday, Sep. 5, 2023, 10:45 AM
Sarah Rubenoff, Correspondent
With macroeconomic pressures like high interest rates and increased cost of livin, Transunion Canada is tracking the auto industry’s lending performance.
Year-over-year, originations are up by just under 2%, a rise mostly driven by more used inventory coming back online.
“People weren't able to ... [Read More]
NC dealers ready to sell EVs – they just need buyers
Wednesday, Aug. 30, 2023, 01:12 PM
Andrew Friedlander, Associate Editor
This week, electric utility Duke Energy unveiled an unveiled an EV charging subscription pilot program that will allow North Carolina consumers to pay a flat monthly fee to power home chargers for electric vehicles.
The next day, automaker Stellantis announced its latest partnership to provide EV charging infrastructure to help prepare its dealers for selling and servicing EVs.
Bob Glaser, president of the North Carolina Automobile Dealers Association, said he is 100% on board with both of those moves.
“We are very excited about the thought of ... [Read More]
McIntyre shares priorities as EBlock’s new director of commercial sales, insights on wholesale trends
Wednesday, Aug. 30, 2023, 01:02 PM
Sarah Rubenoff, Correspondent
Live virtual auction platform EBlock recently chose a former Hyundai Capital Canada executive as its new director of commercial sales: Bryan McIntyre, the prior senior manager of remarketing and ops support at Hyundai Canada’s captive arm.
McIntyre was with Hyundai Capital since 2017. He has 15 years of auto industry experience and has held management jobs within auto finance organizations that include subprime lending, major bank and captive finance lenders.
McIntyre spoke with Auto Remarketing Canada shortly after he took the new role at EBlock ... [Read More]