Chase Auto's Urness finds gold in seeing family, colleagues, customers thrive
Monday, Sep. 16, 2024, 03:43 PM
Future of the dealership buy-sell market remains unclear
Wednesday, Sep. 11, 2024, 02:51 PM
How wholesale vehicle supply & prices are behaving through 8 months of year
Tuesday, Sep. 10, 2024, 01:42 PM
Premium Articles
Kijiji study shows consumers worried about fair numbers on prices & trade-ins
Friday, Sep. 22, 2023, 11:54 AM
Sarah Rubenoff, Correspondent
What does the auto buying journey look like in 2023? To answer that question, Kijiji released its Buyer Pulse Survey for 2023 to paint an accurate picture of this consumer “journey”.
A vehicle is likely the second most expensive item a consumer will buy and own in his or her lifetime. In line with that fact, the top paint point for consumers that showed up in the survey was ... [Read More]
Fed stays hypervigilant on inflation while ‘crushing consumer buying power’
Thursday, Sep. 21, 2023, 09:43 AM
Nick Zulovich, Senior Editor
Inflation clearly is the focus of the Federal Reserve nowadays. Chair Jerome Powell said “inflation” 20 times during his opening statement after policymakers decided unanimously on Wednesday to maintain the target range for the federal funds rate at 5.25% to 5.5%.
“We understand the hardship that high inflation is causing, and we remain strongly committed to bringing inflation back down to our 2 percent goal,” Powell began during that opening statement. “Price stability is the responsibility of the Federal Reserve. Without price stability, the economy ... [Read More]
Used-car sales continue year-to-date rise, despite headwinds
Wednesday, Sep. 20, 2023, 04:54 PM
Joe Overby, Senior Editor
Folks still need personal vehicles. And for many, the used-car market is the only or best option. That’s one way to explain why year-to-date used retail sales through August have climbed 4.5% — growth that has occurred despite the headwinds of high prices and steep interest rates, says Cox Automotive. “Slightly lower used-vehicle prices, coupled […] [Read More]
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]