CPO record streak from Hyundai Canada reflects OEM, dealer focus on quality, certified vehicles
Tuesday, Aug. 15, 2023, 10:01 AM
Sarah Rubenoff, Correspondent
Demand for quality used vehicles is up across the country. There’s nowhere this trend is more evident than in the certified pre-owned vehicle market.
July marked the 11th consecutive month where Hyundai Canada set a record CPO sales tally for the respective month. And June was the program’s best month ever, as it moved 1,940 CPO units.
Through July, year-to-date sales are ... [Read More]
Drive Festival coming this fall to Canadian Tire Motorsport Park
Thursday, Aug. 10, 2023, 10:08 AM
Sarah Rubenoff, Correspondent
This September, more auto enthusiasts than ever are expected to come out for the third annual Drive Festival. Coined as Canada’s “preeminent outdoor automotive event,” the festival will be held at the Canadian Tire Motorsport park in Bowmanville, Ontario from ... [Read More]
High demand for sedans; used inventory levels expected to rise
Thursday, Aug. 10, 2023, 09:46 AM
Sarah Rubenoff, Correspondent
AutoTrader’s newest Price Index Report for Canada reflects growing consumer intent-to-buy and an industry still plagued with supply issues. In an effort to further drill down into the index results and what they mean for the Canadian pre-owned market, Auto Remarketing Canada connected with AutoTrader analysts.
According to Baris Akyurek, vice president of insights and intelligence at AutoTrader, the index reveals some “interesting variations” in ... [Read More]
AutoTrader research shows consumers still planning to purchase amid economic concerns
Tuesday, Aug. 8, 2023, 11:54 AM
Auto Remarketing Canada Staff
AutoTrader’s newest Price Index Report from Canada paints a picture of strong consumer demand and low inventory — an environment the industry has become familiar with since 2022’s historic price highs. Supply continues to be a challenge, with prices rising ... [Read More]
Sotheby’s, Motorsport Network team up on high-line luxury, sport online auto auction led by Chip Perry
Thursday, Aug. 3, 2023, 11:38 AM
Auto Remarketing Canada Staff
RM Sotheby’s, which is based in Ontario, and Motorsport network have teamed up to launch a new high-line vehicle online auto auction destination. Sotheby’s Motorsport online auction will focus on 21st century sports, exotic, and luxury vehicles priced between $100,000 ... [Read More]
In Canadian wholesale market, car prices steadier than larger vehicle segments
Thursday, Aug. 3, 2023, 11:14 AM
Sarah Rubenoff, Correspondent
Prices in the Canadian wholesale vehicle market continued to slide last week, dropping by 0.27%, according to Canadian Black Book. Once again, the trucks (down 0.48%) saw prices drop more than cars (0.05%), the CBB data shows. That’s compared to ... [Read More]
Broadridge Canada’s new leadership tasked with meeting growth in Canadian market
Tuesday, Aug. 1, 2023, 10:29 AM
Auto Remarketing Canada Staff
To ramp up to meet growth in the Canadian market, fintech company Broadridge Financial Solutions named a new president of Broadridge Canada. Karin Yorfido is filling the new role, after working as general manager of GTO Canada since 2021. She ... [Read More]
Holand Real Estate Group purchases prime location in Mount Royal
Friday, Jul. 28, 2023, 04:27 PM
Auto Remarketing Canada Staff
Holand Real Estate Group, part of the Holand Automotive Group — one of Canada’s leading luxury automotive retailers — acquired a prominent property in the town of Mount Royal, Montreal. The Holand Real Estate Group owns the Wawanesa Insurance building ... [Read More]
Prices in the auction lanes reflecting consistent weekly declines
Thursday, Jul. 27, 2023, 10:46 AM
Sarah Rubenoff, Correspondent
Similar to the week before, wholesale vehicle prices last week declined on average by 0.28%. That’s according to Canadian Black Book, which tracks wholesale market changes week by week. Truck and SUV segments saw a more significant dip of 0.44%, ... [Read More]
AFC chooses past OEM exec to run AFC Canadian field ops
Thursday, Jul. 27, 2023, 10:33 AM
Auto Remarketing Canada Staff
OPENLANE subsidiary AFC has hired longtime automaker executive Robert Staffieri as its new regional director of Canada, where he will be responsible for overseeing the company’s field operations in the country. This includes sales, business development and customer success. “Robert ... [Read More]