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]
Auto service market reflects growing dealer market share, high cost of living
Tuesday, Sep. 12, 2023, 10:39 AM
Auto Remarketing Canada Staff
The aftermarket is beginning to normalize to pre-pandemic levels, shrinking from 2022’s soaring highs as it recovered from COVID-related declines. According to the J.D. Power 2023 Canada Customer Service Index—Long-Term (CSI-LT) Study, the auto service market has shrunk to $9.1 ... [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]
Ford is ‘target’ for Canada’s Unifor negotiations with Detroit 3
Thursday, Sep. 7, 2023, 10:00 AM
Auto Remarketing Canada Staff
Late last week, Unifor selected Ford Motor Co. as the “target” for Detroit 3 negotiations in relation to pending auto strikes in Canada. Negotiations with Ford as the target automaker will set the pattern agreement for the process. As to ... [Read More]
Only 3 segments see wholesale prices rise last week
Thursday, Sep. 7, 2023, 09:35 AM
Auto Remarketing Canada Staff
Canadian used-car prices continued to drop this past week by over a quarter of a percent. Many segments saw a change in average value of more than $100. The average drop came in at 0.26%, according to Canadian Black Book’s ... [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]
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]