Clues in the Cargo: Burning cargo ship off Dutch coast holding 500 EVs, not 25, Reuters says
(Photo by The Netherlands Coastguard) Toronto, Ontario — In an unfortunate turn of events, the still-burning cargo ship off the Dutch coast is actually holding nearly 500 electric vehicles onboard, as opposed to the estimate of 25 previously reported by Reuters. A crew member is dead and 3,783 new vehicles, including 498 EVs, are likely […]
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 […]
Copart Competition: Copart opens entries for the 2023 Rebuild Challenge with $15,500 worth of prizes
Dallas, Texas — Copart, a global leader in online auto auctions, recently announced that the 2023 Copart Rebuild Challenge is now open for entries with $15,500 worth of prizes awaiting the top three winners. “We’re always impressed with the creativity and skill our Members demonstrate every year in the Rebuild Challenge,” said Fatima Ali, director […]
The Holland Hoard: More than 200 very rare vehicles on auction in The Netherlands
Photo by Gallery Aaldering Dordrecht, The Netherlands — A series of auto auctions currently taking place in The Netherlands is proving historic, both in terms of scale and substance, as the more than 200-strong fleet of rare and classic cars owned by Dutch businessman Ad Palmen find new homes. With rides like the rare Lancia […]
Clear Consensus: Uni-Select approves plan of arrangement with LKQ
Boucherville, Quebec — Uni-Select shareholders announced that they have approved their company’s plan of arrangement with LKQ and its subsidiary, securing a near-unanimous agreement at Thursday’s special meeting. The arrangement resolution was approved by 98.87 percent of the votes cast by shareholders present virtually or represented by proxy and entitled to vote at the meeting, […]
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 […]
Consumer Critique: EVs remain popular, though pragmatic purchasing prevails, KPMG poll says
Ottawa, Ontario — People are in the mood to purchase, according to the latest consumer poll from KPMG which found nearly 70 percent of Canadian drivers intend on buying a new vehicle within the next ten years. The survey, which was distributed to Canadians over the age of 18 between Dec. 21, 2022 and Jan. […]
Future Figures: SEMA publishes 2023 Future Trends report
Toronto, Ontario — Proving they don’t just put on a great show in Las Vegas, the organization behind the annual SEMA show has unveiled its Future Trends report for 2023 this week, which dives deep into industry and economic outlooks, vehicle trends and lingering supply chain issues. First touching on the organization’s namesake sector, the […]
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 […]
Bye, See You Never: Chrysler 300, Hyundai Veloster, Ford EcoSport to cease production in 2023
Toronto, Ontario — Repairers ought to start stocking up on parts as the Chrysler 300, Hyundai Veloster and Ford EcoSport are all scheduled to be discontinued at the end of this year. The Chrysler 300, along with its fellow Brampton, Ont.-produced Dodge Charger and Dodge Challenger, will be sent off into the sunset in 2023. […]
