KAR Auction Services (KAR Global) has signed an agreement to acquire the app/web-based dealer-to-dealer wholesale platform known as BacklotCars Inc. for $425 million, pending regulatory approvals and closing additions. The platform features a 24/7 “bid-ask” marketplace and vehicle inspections performed …
General Motors has formed a strategic partnership with Nikola Corporation, a designer and manufacturer of zero-emission battery- and hydrogen-electric vehicles (such as trucks) and other components. The partnership means that GM owns 11 per cent of Nikola and the right …
After climbing back to within 4.9% of the year-ago norm in July, Canadian auto sales in August were down about 8.9% from the same month in 2019, as estimated by DesRosiers Automotive Consultants (DAC). Estimated sales of 165,837 units for …
Wholesale used vehicles prices were stronger this week, with the car segment up by a record 0.35%, and trucks by 0.49% — their third largest gain in the last two years, according to Canadian Black Book’s COVID-19 Market Update for …
Average new vehicle prices in the U.S. have increased 3.9 per cent ($1,442) year-over-year in August and 0.2 per cent ($72) from the previous month, according to the valuation analysts at Kelley Blue Book. The estimated average transaction price for …
Oro Station held a groundbreaking ceremony in August that marked the start of construction of its 500,000 square-foot Automotive Innovation Park industrial facility in Oro-Medonte. The facility, which joins a business park with a motorsport road course and testing facilities, …
The Automobile Journalists Association of Canada (AJAC) has launched a national initiative known as EcoMonth, which aims to boost visibility of green vehicles and efficient driving techniques with the help of “top” Canadian automotive journalists. September has been deemed the …
Diane Conte, Events and Conferences, TADA, talks about the Auto Dealers Innovation Series Conference & Expo taking place on a virtual platform Sept. 24. The event features keynotes, networking opportunities and more than 25 virtual exhibits.
Changes to the Canada Emergency Wage Subsidy (CEWS) program announced in July have left many dealers across the nation with questions and concerns about how those changes will impact their particular situation. Some of the top concerns among dealers hover …
Jeremy Anspach, CEO of PureCars, explores the top Google search terms and phrases among car shoppers in the U.S. and how dealers can leverage this information to potentially boost sales.
The ninth annual edition of the TalkAuto Canada Conference will be held online on November 16, 2020, and will once again be hosted by Canadian Black Book and J.D. Power. In keeping with COVID-19 physical distancing standards, the 2020 TalkAuto@Home …
automotiveMastermind’s Market EyeQ sales platform has been enhanced with the integration of a pre-owned vehicle functionality with the Manheim Market Report (MMR) wholesale vehicle values. The functionality provides dealer partners with the ability to match used vehicle customers with relevant …
