Uber said it will become profitable next year thanks to its plan to buy food delivery service Postmates for US$2.65 billion. Uber stock has increased by 7% since the announcement was made. “Uber says it’s confident that the acquisition will …
Given that the onset of the COVID-19 pandemic had already slashed new-vehicle sales in Canada by 20.0% in the first quarter of 2020, and the fact that April and May sales declines were dramatically worse, it’s no surprise that cumulative …
New rules embedded in the United States-Mexico-Canada Agreement (USMCA) will make it difficult for Canadian dealers exporting used vehicles to the U.S. to prove that the vehicles meet the necessary requirements under the new rules of origin. The USMCA implementation …
François Blais, Executive Vice President of Dealer Services and Special Risks, iA Financial Group, Industrial Alliance, discusses his new role with the company, new challenges, and what dealers can expect. Watch the video.
In its latest report, Cox Automotive found that U.S. consumers continue to delay buying and servicing vehicles, and inventory shortfalls are starting to impact price discounts offered by dealers. The report released in mid-June — COVID-19: Tracking U.S. Consumer and …
First Canadian Financial Group (FCFG) has acquired automotive aftermarket company Pro-Tech Seal Manufacturing as the company seeks to expand its offerings to automotive dealers in Canada. According to FCFG, Western Canada-based Pro-Tech Seal is among the country’s largest auto aftermarket …
It’s official: Canadian Prime Minister Justin Trudeau will not be attending a meeting in Washington, D.C. to celebrate the start of the new NAFTA trade deal. “While there were recent discussions about the possible participation of Canada, the prime minister …
Germany’s recovery from COVID-19 may be slow and painful, according to Reuters. That analysis is based on data showing that industrial orders increased by a record 10.4% during a month when restrictions were being lifted — nearly a third less …
California can still lead the U.S. and the world on electric vehicles despite the Trump administration’s attempts to fight these efforts. California has established air and climate partnerships with officials from China and the European Union, and its agencies run …
Walmart reportedly plans to turn some of its parking lots into drive-in movie theatres this summer. “With coronavirus lockdowns closing movie theatres across the U.S., drive-in movie theatres have seen a resurgence in popularity since they can be a reasonably …
An automotive radar system from Princeton University, originally developed to help drivers spot unseen cyclists and pedestrians, will allow vehicles to “see” around corners. “Essentially, the system uses radar’s Doppler effect — the shift in returning radio waves when an …
Canadian Prime Minister Justin Trudeau is on the fence about visiting Washington D.C. to celebrate the new NAFTA agreement. “We’re obviously concerned about the proposed issue of tariffs on aluminum and steel that the Americans have floated recently,” said Trudeau. …
