E Automotive picks Fortune 500 finance vet as new CFO
Tuesday, Sep. 5, 2023, 10:36 AM
Auto Remarketing Canada Staff
E Automotive Inc. — parent company of EBlock and EDealer — has a new chief financial officer. John Rim has 25 years of experience in the industry, with the last 12 years spent working as a CFO or chief operating ... [Read More]
In Canada, auto loan originations, balances, minimum payments all on the rise
Friday, Sep. 1, 2023, 01:08 PM
Auto Remarketing Canada Staff
Transunion’s Q2 2023 Credit Industry Insights Report shows that Canadians are continuing to take on credit to help manage cash flow as interest rates spike and the cost of living continues to rise. The number of consumers carrying a credit ... [Read More]
Last week in the lanes: Demand for small, inexpensive cars slows
Thursday, Aug. 31, 2023, 01:04 PM
Auto Remarketing Canada Staff
Price drops in the auto auction lanes continue what have been slow but consistent declines. The Canadian Black Book wholesale price index fell by 0.30% last week. The small pickup segment was up 0.72% followed by the full-size car segment ... [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]
Strike mandates for Detroit 3 loom as Unifor members vote ‘yes’
Tuesday, Aug. 29, 2023, 10:47 AM
Sarah Rubenoff, Correspondent
Rumors of auto worker strikes are circling around the car manufacturing industries in both Canada and the U.S. And the waves are quickly turning into more than just buzz. This past weekend, Unifor members at Ford Motor Co., General Motors ... [Read More]
AI-enabled platform hits market in effort to optimize deployment of EV charging infrastructure
Tuesday, Aug. 29, 2023, 10:39 AM
Sarah Rubenoff, Correspondent
Recent reports regarding the electric vehicle market in Canada have a similar theme: Interest in EVs is there, but the infrastructure isn’t completely ready. Companies across the automotive space are looking to tackle this challenge, one of which is tech ... [Read More]
Lift Auto Group purchases established collision center
Thursday, Aug. 24, 2023, 09:44 AM
Auto Remarketing Canada Staff
Canada’s Lift Auto Group has purchased a new Oakville, Ontario, collision center. The established CSN Automacs is now under ownership of the Lift Auto network of repair shops. Lift Auto said in the press release announcing the news that it ... [Read More]
AutoTrader.ca deploys upgraded AI-powered solution
Thursday, Aug. 24, 2023, 09:39 AM
Auto Remarketing Canada Staff
Automotive marketplace AutoTrader.ca is bringing a new AI-powered solution to Canada’s auto dealers. Optimizer – AI was launched in 2021 based on AI technology and has been enhanced after two years of research, testing and optimization. Now, Upgrade Optimizer – ... [Read More]
Declines in wholesale prices defy historical seasonality
Thursday, Aug. 24, 2023, 09:27 AM
Sarah Rubenoff, Correspondent
Over the past two weeks, most vehicle segment Canadian Black Book tracks saw declines that went against seasonal norms. During the work week ending on Aug. 12, wholesale values continued to fall above seasonal rates, with an average drop of ... [Read More]
New EV supply stockpile may be sign of ‘growing pains’ for Canadian market
Friday, Aug. 18, 2023, 11:19 AM
Sarah Rubenoff, Correspondent
OEMs continue to pump out new electric vehicle models, and supply of some of the legacy models is backing up as new-car inventory continues to expand slowly but surely.
Although Canadian consumers are leaning toward smaller vehicles due in part to high prices and interest rates, as well as gas prices and environmental concerns, there could be a shift in the near future.
With the rise of electric SUVs becoming more commonplace, this could help ... [Read More]