Media reports buzzed this week with the story that China’s car dealers are struggling with significant financial losses. According to the Business Standard, those losses amounted to more than 138 billion yuan ($19.55 billion). They say it’s due to sluggish …
Fraud loss is on the rise, with Canadian auto shops experiencing a significant 89 per cent increase year-over-year from 2022 to 2023, according to data from payment service provider Moneris. One of the main culprits of this issue is “MOTO …
HGreg has announced the expansion of its pre-owned luxury car brand HGreg Lux. The North American auto group said they now have a new boutique location in West Palm Beach, Florida, representing its third HGreg Lux location. “We’re delighted to bring …
Globally the electric and fuel cell vehicle markets were valued at US$655.9 billion in 2023 and are expected to grow from US$758 billion in 2024 to US$1.8 trillion by 2029, according to the latest BCC Research study. The increase is …
Eighty per cent of global commercial fleet leaders would like to electrify 25 per cent of their fleets by 2030, according to Frost & Sullivan. A new report, commissioned by WEX and conducted by Frost & Sullivan, provides insights into …
Clean electric vehicle charging company JOLT kicked off a nationwide initiative to electrify the country with its first installation in the City of Richmond Hill, which is part of the Greater Toronto Area (GTA). In a news release, the company …
Provincial new light vehicle sales performances in August continued the slightly disjointed and uneven trend from July, according to a recent update from DesRosiers Automotive Consultants (DAC). DAC said the higher volume provinces, which include Québec, Alberta, and British Columbia, …
Electra Battery Materials announced a joint venture, named Aki Battery Recycling, with Indigenous-owned economic development agency Three Fires Group. The goal will be to produce battery black mass through the responsible recycling of lithium-ion battery scrap and waste material. Once …
Car-sharing service Communauto recently announced the start of the electrification of its Halifax fleet, in which it aims to add five new Kia Niro electric vehicles to its current fleet. The new initiative received support and funding from the HCi3 …
Iceberg Finance and autologiQ have entered an exclusive partnership, in which Iceberg Finance will be the sole financing partner for autologiQ’s Easy Monthly Payment (EMP) repair finance solution. Both companies see this as a win-win, as Canadian consumers will benefit …
DSMA Managing Partner Maxime Théorêt co-founded QUOTUS, a provider of financial intelligence solutions for auto retail, which recently launched a software as a service (SaaS) platform to help dealerships transform complicated financial data into actionable insights so they can quickly …
Luxury retailer Holand Automotive Group, owner of Ferrari Quebec in Montreal and Ferrari of South Bay in California, has added a third store of the brand — Ferrari of Rancho Mirage — to help it strengthen its position in North …
