On the Up: J.D. Power reveals July Market Metrics; aging vehicle market makes ‘collision repair key,’ says VP of AutoForecast Solutions
Ottawa, Ontario — J.D. Power has released its Automotive Market Metrics for July 2024, which shows a strong used vehicle market—a good sign for the collision repair industry, according to automotive market analyst Sam Fiorani. According to the monthly report, new vehicle prices compared with customer-facing prices have remained relatively stable this year, with new […]
Ups and Downs: Automotive aftermarket ‘pillar of strength in the industry’, DAC sales report says
Toronto, Ontario — The automotive aftermarket was a “pillar of strength in the industry” when looking at retail sales for automotive parts, accessories and tire stores for Q1 2023, according to a report from DesRosiers Automotive Consultants (DAC). Automotive parts, accessories and tire stores saw a 10.2 percent increase in retail sales, when compared to […]
Auctions for Auctioneers: Ritchie Bros acquisition of IAA achieves shareholder approval
Toronto, Ontario — After some bumps along the road of negotiation, the Ritchie Bros acquisition of IAA has been completed following shareholder agreement from both parties. This merger will see IAA stockholders receive $12.80 per share in cash and 0.5252 common shares of Ritchie Bros. for each share of IAA common stock they own. When […]
Hot Streak: Honda carries on winning streak for compact, compact pickups on 2023 Best Buys list
Toronto, Ontario — Honda has received some high praise in Consumer Guide’s recently published 2023 Best Buys list, where the Honda Civic and Ridgeline came out on top of the rankings in their respective categories. In what could only be good news for drivers and Honda repairers alike, the iconic compact sedan, alongside the Japanese […]
Gone too Soon: High repair cost driving many Teslas to salvage prematurely, Reuters says
Toronto, Ontario — Tesla has been talking big about its in-house insurance platform recently, and how it is providing insights on potential design improvements, but some recent reporting from Reuters has found that far too many of the electric automaker’s vehicles are turning up as salvage prematurely. In a compilation of 120 Model Y vehicles […]
Flooding the Market: Concerns raised over surplus of illegal imports in Mexican used market
Toronto, Ontario — The director of an organization representing Mexico’s auto parts industry has spoken out with concerns about his government’s handling of illegally imported used vehicles, as well as new policies that could hurt the local vehicle sales market. Alberto Bustamante, director of Mexico’s National Parts Industry (INA), spoke to reporters from Reuters about […]
Progress for Progi: Progi expands car auction platform to all licensed Canadian buyers
Toronto, Ontario — Progi announced last Thursday that going forward, Quebec vehicles sold on the ProgiPix car auction platform will be made available to all buyers with a Canadian operating license. The Quebec-based company is opening the floodgates to all accredited auto recyclers operating in Canada with this news, which operations director Frederic Miceli says […]
Balancing the Books: Used vehicle values slowly, steadily returning to normal, Canadian Black Book says
Toronto, Ontario — Canadian Black Book recently released its used vehicle valuations for October, which marked a 1.1 percent drop in the industry’s Used Vehicle Retention Index, down from 160.3 to 158.5 points. Used vehicle valuations in Canada currently sit in line with numbers recorded in December of 2021. The report did show that year-over-year […]
Give Me the FAX: IAA integrates CARFAX vehicle history reports into auction platform
Toronto, Ontario — Car buyers looking for an extra bit of info before making their big purchase will now have CARFAX Canada Vehicle History Reports made available to them through IAA Inc.’s various vehicle auctioning platforms, the company announced on Monday. IAA users will now be able to access vehicle history reports for up to […]
ADAS Aware: IIHS study shows used vehicle safety systems go underutilized
Toronto, Ontario — Vehicles these days are full of sensors and safety features, but as these vehicles change hands from owner-to-owner, the specific functions of some of these systems can get lost to a game of broken telephone, according to a recent study from the Insurance Institute for Highway Safety. The latest research from the […]
