B2B automotive trading platform Trade X secured additional debt financing from Forbright Bank and a global asset management firm to help expand its growth in North America and globally. The company said the new lines of credit total US$50 million …
Still on an up trend, prices continue to rise in the Canadian used wholesale market—now for the 16th straight week, based on Canadian Black Book’s weekly auto market update that ended on November 26. Declining new and used vehicle inventory …
Tight inventory and high prices for automobiles in the United States continue to put a damper on new vehicle sales, as November’s seasonally adjusted annual rate (SAAR) of sales is forecasted to finish near 13.4 million—which would be an increase …
The Senior Vice President and Head of TD Auto Finance, Michael McGhee, will be moving to a new role as Senior Vice President, Divisional Office, and Transformation within TD’s Business Bank—effective December 7, 2021. With this change the company also …
The new Kia Niro made its global debut at the 2021 Seoul Mobility Show. The redesigned model is part of the OEM’s growing eco-friendly line-up targeting the needs of “sustainability-conscious” consumers. “The all-new Kia Niro makes it simple to practice …
Canada Drives, self-described as the country’s largest 100 per cent online car shopping and to-your-door delivery platform, received an Enterprise Fast 15 award as part of the Technology Fast 50 program. The category it won aims to recognize the fastest-growing …
A recent article by Driving.ca’s David Booth looks at the possibility that U.S. President Joe Biden’s “Build Back Better” plan could stimulate the American automotive industry—but at a cost: it will “kill” Canada’s. Booth said Biden’s EV incentive programs “so …
Car manufacturing in the United Kingdom declined 41.4% year-on-year in October 2021, with only 64,729 vehicles rolling off production lines, according to Auto Express—which called it the worst October for the industry since 1956. “Production for domestic and overseas markets …
An article published by Captive International notes that Canadian automotive dealerships with interests in captives “are being warned of the risk of fines due to increasingly complex reporting requirements.” MNP Partner Tim Bloos said dealers that fail to file correctly …
A recent report from CNET indicates that beta testers of Tesla’s Full Self-Driving system will need to give up some of their privacy if they want to test the company’s Level 2 driver-assist system. Testers must now reportedly opt in …
Canadian auto dealer editor Todd Phillips interviews Todd Bourgon, Executive Director at TADA and Rachel Bacon, Owner of JobGo Solutions about a significant shortage of skilled technicians, and the TADA Foreign Workers program that aims to recruit and test technicians …
Still hot, the Canadian used wholesale market saw prices continue to rise for the 15th straight week, with prices up in all 22 vehicle segments as new and used vehicle supply continues to decline, according to Canadian Black Book. The …
