As 2023 wrapped up, Tesla took a bit of a hit, with a recall announced that covered almost all new vehicles sold in the U.S., as well as over 200,000 in Canada. According to Transport Canada, in certain circumstances when Autosteer, Tesla’s autopilot feature, is engaged, the prominence and scope of the feature’s controls may not be sufficient to prevent driver misuse of the advanced driver-assistance feature. Auto Remarketing Canada reached out to Daniel Ross, senior manager, industry insights and residual value strategy at Canadian Black Book, to get more insight into the road Tesla is on, and whether their niche market is reacting to recent red flags from the automaker. One of the most recent, of course, is the 2023 sweeping recall. Interestingly, Ross said although he doesn’t see the recall as ... [Read More]

It’s the end of an era as historic Canadian auto auction Manheim Toronto completed its last sale as 2023 wrapped up. With OPENLANE’s recent purchase of Manheim Canada, the long-standing Toronto auction has closed, as Manheim plans to exit Canada.  Auto Remarketing Canada spoke with auto auction industry veteran Brad Hart to get a sense of the history of Manheim Toronto ... [Read More]

There is roughly a 10.2 million-unit deficit in the number of 1- to 3-year-old vehicles expected to re-enter the pre-owned car market in the near future, leading to a “sparse and expensive” picture for dealers’ used-car inventories, Cars Commerce says in its 2024 Automotive Trends report released Wednesday. And if the company’s data is any indication, consumers and dealers alike may be motivated to utilize the trade-in route. Citing data from its Accu-Trade unit, Cars Commerce said that trade-in values on 1- to -5-year-old used vehicles are ... [Read More]

Dealer principal. That’s a big hat to wear. But it’s not the only title that Danny Zaslavsky holds. Zaslavsky is dealer principal at Country Hill Motors in Merriam, Kan., and is also co-founder and managing partner at online inventory platform VINCUE, as well. Auto Remarketing caught up with Zaslavsky to see how he juggles his two executive positions, as well as how his dealership and online platform are addressing a difficult inventory landscape — one where there’s still simply not enough quality used vehicles that are also affordable ... [Read More]

The electric vehicle era is here, and when its effects trickle down to the used-car market, auto dealers will have to rethink everything from the ground up. That begins with this seemingly simple question: What do customers want in a pre-owned electric vehicle? A panel of experts took on that question in the “Customer Satisfaction Has Changed in the EV Era” session during the Used Car Week conferences in Scottsdale, Ariz., using questions asked by consumers as a guide ... [Read More]

When Shawn Vaughan looks at what’s ahead for the automotive market in 2024, he sees much uncertainty — about the economy, interest rates, politics. But there’s one thing he’s sure of. “Retail is back,” said Vaughan, president and CEO of Vaughan Automotive, which operates two Toyota dealerships in Houston and Boerne, Texas that retail some 1,500 units with annual sales of about $500 million. As the auto industry continues to evolve in the post-COVID era, many dealerships are having to ... [Read More]

Customers now have the option to lease certified pre-owned Honda and Acura vehicles, American Honda Motor Co. announced Thursday. The leasing option is the latest addition to the automaker’s CPO program, which recently expanded to allow vehicles from ages 6 to 10 through the respective HondaTrue Used and Acura Precision Used Programs. Eligible models include ... [Read More]

As CEO Peter Kelly reminded listeners on an investors call Monday, there is a “high hurdle” OPENLANE must clear when making decisions regarding mergers and acquisitions. “I believe that this transaction clears that high hurdle by offering a compelling financial return, but also significantly advancing our digital strategy in one of our core markets,” Kelly said. The transaction to which Kelly refers is OPENLANE’s deal, announced late Monday afternoon, to buy Manheim Canada for $130 million (CAD), which is $95 million (USD). The deal, once it closes, includes ... [Read More]

“Intentionally, these doors are closed because what you're going to see when you go beyond these doors is a completely new way to support the automotive supply chain,” a.i.m. CEO Tim Frank tells a crowd of auto industry professionals in mid-November. They’re gathered here for the grand opening of a.i.m’s first-ever vehicle reconditioning facility, located in Oxford, N.C., some 30 miles northeast of Durham. The building is a former tobacco production facility, a common sight in a state whose economy has shifted further towards tech-related fields, especially in the nearby Research Triangle region. That's not unlike the wholesale auto industry, where ... [Read More]

China’s leading used-car online marketplace was in Scottsdale, Ariz., this year with a booth at Used Car Week, held in mid-November. TaoCheChe’s reason for being there was two-fold. “Our main purpose in coming to UCW is to learn from our industry partners,” TaoCheChe CEO Jiang Dong told Auto Remarketing at its booth. “But another purpose is to tell the American used-car industry to look at China’s used-car market. It is a gold mine.” China’s used-car market is the world’s fastest growing, with a compounded annual growth rate of ... [Read More]