International Fortune 500 automotive retailer Group 1 Automotive, Inc. reported a 2020 second quarter net income of $30.2 million this week and a second quarter total revenue of $2.1 billion. “Rapid and deep cost cuts, combined with a quicker-than-expected U.S. …
As dealerships across Canada adjust to new health and safety protocols while serving customers again, Robert Poëti, President and CEO of the CCAQ (La Corporation des concessionnaires automobiles du Québec) is advising caution. In an interview with Canadian auto dealer …
François Blais, previously the President of iA Auto and Home Insurance and Prysm General Insurance, has stepped into the role of Executive Vice-President of Dealer Services and Special Risks at iA Financial Group. In an interview with Canadian auto dealer …
Clutch, a Canadian online retail platform for vehicles, announced last week that they have raised $7 million in seed financing which they will use to grow their team and scale their business in each of the cities that they currently …
Frost & Sullivan, a world-renowned consulting firm focused on navigating economic changes and identifying disruptive technologies, have recognized Amazon Web Services, Inc. (AWS) with the 2020 Global Company of the Year award. The award is one of Frost & Sullivan’s …
The connected vehicle industry is coping with flat revenues and a 15 per cent decline in shipments in 2020, although global tech market advisory firm ABI Research anticipates a return to financial stability early in 2022. According to ABI Research, …
Although the demand for contactless sales was already well established within the automotive industry before COVID-19 hit, the pandemic has accelerated the need for a solution as dealerships look to innovate in light of the pandemic. A Louisiana-based Inc. company …
Rapid Recon, which owns a popular dealership software system, announced this week in a press release that with the completion of installation at Yellowstone Motors, dealerships in every U.S. state and eight Canadian provinces are now using their workflow management …
Trevor Tamke, CPA, CA, Partner, Taxation Services, MNP, talks about the proposed changes to the Canada Emergency Wage Subsidy (CEWS), including doing away with the 30 per cent revenue decline threshold and plans to extend the program until later this …
The latest report from DesRosiers Automotive Consultants (DAC) found that June revealed a relative improvement in national sales, along with some notable differences in provincial performance. Total sales for June came in at an estimated 156,000 units — down “only” …
Canada’s electric vehicle market will likely experience stagnation this year due to a lack of support from provincial governments — but federal incentives should provide a boost to the market, according to Frost and Sullivan. “As there exists a notable …
Several businesses and one OEM have teamed up to launch a new initiative known as Transform to Net Zero to help accelerate the transition towards a net zero global economy. The announcement came on July 21 and listed the founding …
