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August 7, 2017

RATE INCREASE, CDN DOLLAR STRENGTH TO IMPACT USED VEHICLE VALUES

Canadian Black Book shared its perspective on the impact the rise in the Canadian dollar and recent Bank of Canada interest rate increase will have on the Canadian vehicle market. In the short term, CBB believes that higher interest rates will not be passed along to new vehicle buyers.

“For the most part, manufacturer new vehicle incentive budgets will likely absorb the rate hike for consumers so that they can continue to advertise 0 per cent or 0.9 per cent or 1.9 per cent for new cars. To keep things in perspective, on a $40,000 car loan a hike of 0.25 per cent is only an extra $100 per year of interest,” said Brian Murphy, Vice President of Research and Editorial, CBB.

However, if the rates keep going up, OEMs will most likely have to pass the costs along to car buyers in the form of reduced incentives, rather than increases in monthly payments.

CBB explains that the bigger impact in the near future is the resurgence of the Canadian dollar.

“As the strength of our dollar had been declining since 2013, U.S. interest in Canadian used vehicles increased. Depending on who you ask, upwards of 200,000 vehicles have been being exported to the U.S. annually. U.S. buyers and/or Canadian exporters have been taking full advantage of a lower Canadian dollar and been moving vehicles across the border to sell at a higher price in the States versus here at home. This export demand has inflated our used car prices domestically,” said Murphy.

Dealers are also getting customers out of vehicle loans/leases early and putting them into new vehicles.

“This ‘pull forward’ activity is helping to drive record levels of new vehicle sales. This activity is also possibly due to higher used vehicle prices putting consumers into a positive equity position (owing less than the vehicle is worth) much sooner,” said Murphy.

However, conditions are changing. CBB reports that as the domestic supply of U.S. off lease used vehicles is up by about 500,000 versus past years, U.S. used prices are falling. The Black Book (USA) Price Index is showing a ten per cent decline since last year, which is significant. The U.S. vehicle market is bracing for a large downward adjustment in used prices. Add in a stronger Canadian dollar, driving up acquisition costs and there will be less demand in the U.S. for Canadian used vehicles.

At some point soon, the rising Canadian dollar and falling U.S. used vehicle prices will make it unattractive for U.S. buyers to purchase Canadian inventory in such large volumes. The impact to the Canadian auto industry will be a slowdown of “pull forward” activity, as it won’t make economic sense to pull as many consumers out of their vehicles early because they won’t command such high prices on the used market. Canadian Black Book expects that a $0.85 dollar is around the tipping point for U.S. exports to significantly slow.


July 14, 2017


FORD LEADS THE WAY IN VINCENTRIC BEST FLEET VALUE IN CANADA AWARDS

Vincentric named its 2017 Best Fleet Value in Canada awards winners, with Ford Motor Company, Toyota and Mercedes-Benz leading the way.

Ford led the way with five awards in van categories, three in pick-up trucks, one for passenger cars and one for luxury cars with its Lincoln brand. Mercedes-Benz won four awards for its van offerings; and Toyota won for its cars, pickup truck and a minivan.

“With 17 different award-winning brands in our 2017 analysis, it’s clear that Canadian fleet operators have a variety of great vehicles to choose from,” said David Wurster, President, Vincentric. “Ultimately it’s important to identify which vehicles offer the lowest total cost of ownership to ensure optimal fleet use.”

Mitsubishi, Mazda, and Nissan (two for Infiniti, one for Nissan) each won three awards, BMW and General Motors (two for Cadillac) each won two awards, and Audi, Volvo, Jaguar, Hyundai, Subaru, FCA (Dodge) and Kia each won one award.

Award winners were determined after analysis of more than 2,000 vehicle configurations in 24 different lifecycle cost settings using eight cost factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. Lifecycle costs were measured in all provinces then applied to determine winners.

For more information, click here.


April 3, 2017

TIREKICKER VEHICLE INSPECTION APP A GAME CHANGER


With the Auto Remarketing Canada conference as an appropriate backdrop, TireKicker Inspections released its new vehicle inspection application. According to TireKicker Inspections, the app is a game changer as it is a reporting tool that allows users to create custom inspection reports, eliminating the inconvenience associated with using generic templates.

"Tki was not only developed to service all the stakeholders in the remarketing circle, but we wanted a private seller with no industry experience to be able to use the application to advertise and sell their vehicle" says Matt Rispin, Co-founder & Managing Director. "With this vision in mind, we developed a multi-purpose solution that can be utilized by anyone; the user profile and uses for the tool are endless."

The application features touch screen mapping, OEM VIN decoding, inspector impressions, video and photo capability with multi-platform functionality.

TKi stores reports on the cloud,allowing access from any device, from any location. Inspections are cataloged for user-editing and review at www.tirekickerinspections.com

Dealers, OEMs, auctions, leasing companies, advertisers, banks, bailiffs, auto haulers, and rental companies are among the companies TireKicker Inspections sees benefitting from the application. The customized reports are a response to the trend of user content reporting and is an alternative to the traditional third part inspection process. The application can be downloaded for free from Apple and Google Play stores.



March 13, 2017

ADESA OPENS NEW MISSISSAUGA HEADQUARTERS


ADESA has opened new 10,583 square-foot headquarters in Mississauga, Ontario. The office is located at 6755 Mississauga Road, Mississauga, Ontario.

“The addition of this new office allows our ADESA and AutoVIN teams to work closely together for the benefit of our mutual customers,” said Trevor Henderson, COO, ADESA Canada. “Our prime location is not only more convenient for our customers, but we are also near our Toronto auto auction and other KAR companies located in the area. The diverse teams and functions at this facility and the collaborative work environment it creates will also help us attract and retain Toronto’s best and brightest talent.”

The headquarters will be home to around 50 employees of ADESA and its subsidiary AutoVIN. Key business functions will take place at the Mississauga office, including sales, finance, tax, legal and human resources services, and AutoVIN training and development, customer service field operations and executive departments.


March 6, 2017

THREE TIMES A CHARM FOR SUBARU

ALG named the winners of the ninth annual Canadian Residual Value awards for 2017 model year vehicles. Subaru took the top mainstream brand title for the third straight year as did Land Rover for the top premium brand.

>>
read more


February 21, 2017

CBB BEST RETAINED VALUE AWARDS MARK 10 YEARS

Canadian Black Book celebrated the 10th year for its Retained Value Awards, and to mark the occasion Overall Brand winners were added for the first time.

>> read more


January 30, 2017

VINCENTRIC CANADIAN DIESEL ANALYSIS

Vincentric 2016 Canadian Diesel Analysis shows that 111 of 280 diesel vehicles in the study had a lower total cost of ownership than their gasoline counterparts.

“Due to higher purchase prices diesel vehicles generally have more expensive cost-of-ownership compared to their all-gas versions,” said Vincentric President David Wurster. “However, with better fuel economy, nearly 40 per cent of diesel vehicles are showing cost savings.”

Of the 280 total vehicles, 220 were pick-up trucks, 56 were SUV/CUV and vans, and four were passenger cars. All four passenger vehicles had the diesel option offer lower total cost of ownership, with 62 per cent of SUV/CUV and Vans being lower, and 1/3 of pick-up trucks being lower than their gasoline counterparts.

The Canadian Diesel Analysis was conducted by Vincentric using total cost-of-ownership measuring depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. The analysis assumed duration of ownership of five years and mileage of 25,000km annually.


August 11, 2016

VINCENTRIC ANNOUNCES BEST FLEET VALUE IN CANADA AWARDS

Vincentric revealed winners of the fifth annual Best Fleet Value in Canada awards. Ford led all award winners with 13 awards (12 for Ford and one for Lincoln), of those seven awards were in van categories and three in pick-up truck categories.

“Canadian fleet operators have a wide selection of vehicles from which to choose,” said David Wurster, President, Vincentric. “When making fleet purchasing decisions, it’s important to identify which vehicles offer lowest cost of ownership. Our detailed data and awards help Canadian organizations make smart, informed decisions when it comes to acquiring fleet vehicles.”

Mercedes-Benz was next with five awards (four of which were in van categories), Nissan followed with four awards (three for Nissan, one for Infiniti), General Motors won three awards (two for Chevrolet and one for Cadillac). Other multiple award winners included: BMW, Dodge, Mazda and Volvo who each won two awards. Rounding out the field was Audi, Hyundai, Subaru, and Toyota who each won one award.

Award winners were determined after analysis of more than 1,800 vehicle configurations in 24 different lifecycle cost settings using eight cost factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. Lifecycle costs were measured in all provinces then applied to determine winners.

For complete list of winners click here.


July 11, 2016

BEST VALUE IN CANADA AWARD WINNERS

Vincentric announced winners of the fifth annual Best Value in Canada awards. Mazda earned the Best Value Passenger Car Brand, BMW Best Value Luxury Car Brand, Toyota Best Value SUVs, Crossovers and Vans, Volvo Best Value Luxury SUVs and Crossovers, Ford Best Value Truck Brand, and Toyota won in the most categories with eight awards (two for Lexus, six for Toyota).

“The data analyzed to determine our awards showed the broad range of high-value vehicles in the Canadian market," said Vincentric President, David Wurster. "When manufacturers measure and manage a vehicle's total cost of ownership, they are able to consistently deliver high value to customers."

Other OEMs taking home awards were: Audi, General Motors, Honda, Kia and Porsche.

To determine winners, Vincentric analyzed eight separate cost factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. Winners were determined by measuring which vehicles had lower than expected ownership costs given the relevant market segment and price. Each vehicle’s evaluation covered all 10 provinces plus the Northwest Territories using a range of annual kilometer intervals and insurance profiles.

For complete list of winners click here.


May 27, 2016

NAAA NATIONAL CERTIFICATION STANDARDS ADOPTED BY CANADIAN AUCTIONS

As of June 1, Canadian auto auctions will be adopting the National Auto Auction Association (NAAA) National Certification Standard (NCS).

NCS has three quality levels, Platinum, Gold and Silver, to manage the requirements of a broad range of vehicle types. A checklist of 48 basic criteria provides a system that addresses vehicle selection, with requirements for inspection, reconditioning, and marketing.

"Since its initial implementation in the U.S. over five years ago, NCS has proven effective with achieved its goals of building, promoting a greater understanding including trust and confidence among auctions, buyers and sellers" said Frank Hackett, CEO, NAAA. "Auctions here have seen that NAAA Certified means better business practices that translates to better business success, and we're glad that our Canadian members have decided to employ this easy-to-use tool that, while comprehensive in its scope, requires only a minimal investment of time for both training and application by auction staff."


May 27, 2016

ADESA ADDS WINDSOR LOCATION

ADESA has announced it will launch ADESA Windsor with two grand opening events in June. This becomes ADESA’s 14th full service auction location in Canada.

The auction will be located at what was formerly the ADESA Kitchener satellite location in Tilbury, Ontario. It has been fully renovated and will now offer: two lanes, a detail shop, mechanical shop, transportation services, post-sale inspections, and condition reports.

“This location has been operating successfully as a satellite facility for ADESA Kitchener. Due to consistently increasing customer demand in the region, it was time to renovate the facility into a full-service auction,” said Trevor Henderson, Chief Operating Officer, ADESA Canada. “ADESA Canada is committed to providing superior service to our nationwide buyer base, and that includes ensuring our customers have convenient, efficient access to our physical sites and a wide variety of inventory.”

The grand opening events will take place on June 10 and June 17 at 10 a.m. to 12 p.m.


May 12, 2016

COX AUTOMOTIVE ADDS MANHEIM QUEBEC CITY

Cox Automotive Canada has opened a second Manheim location in Quebec with the new Manheim Quebec City.

"We are very excited about our recent expansion into Quebec City," said Maria Soklis, President, Cox Automotive Canada. "This expansion will allow us to better support our local client's inventory service needs by adding options, building value and driving efficiency."

Manheim Quebec City was opened on April 28, becoming the sixth Manheim auction in Canada. Auctions will take place on Tuesdays at 9:30 a.m., beginning May 24.


March 24, 2016

TRADEREV NAME EVP IN US

Keith Crerar
Keith Crerar.
Keith Crerar has been named Executive Vice-President of TradeRev in the US. He will report to Mark Endras, President, TradeRev.

“Keith is the ideal fit for this position. He has a proven track record in retail automotive with an extensive knowledge of both car dealerships and auto auction operations,” said Endras. “He has strong, long-standing relationships with auction general managers, dealer customers and dealer franchise groups. He was instrumental in creating a nationwide dealer sales team at ADESA and will be an asset in leading our TradeRev operations throughout the United States.”

Crerar will stay in his role as Vice-President of Dealer Services at ADESA until a successor has been found. He has served in a number of roles within ADESA in his many years.

“TradeRev is a revolutionary mobile application that changes the way car dealers do business with regards to appraising and liquidating vehicle trade-ins,” said Crerar. “I am very excited to leverage my experience and relationships throughout the auction industry and franchise dealership groups to build TradeRev’s presence across the country.”

The company is based in Toronto, Ontario and provides mobile vehicle appraisal and auctioning system for dealers. KAR Auction Services, Inc., is 50 per cent owner in the company.

“I look forward to working closely with Keith to share TradeRev’s innovative technology with even more customers across North America,” said Endras. “We are confident dealers and wholesalers will benefit from our transformative product that truly changes the retail automotive space and the way dealers sell cars.”


February 29, 2016

SUBARU WINS ALG TOP CANADIAN RESIDUAL VALUE AWARD

ALG named winners of the eighth annual Canadian Residual Value award for 2016 model year vehicles. The top mainstream brand was Subaru, the top premium brand, Land Rover.

>> read more


February 22, 2016

CANADIAN BLACK BOOK ANNOUNCES BEST RETAINED VALUE WINNERS

Canadian Black Book awarded Best Retained Value in 20 categories and announced them at the Canadian International Auto Show in Toronto, Ontario.

>> read more


January 7, 2016

COX AUTOMOTIVE CANADA ACQUIRES MANHEIM SOURCE EDMONTON

Cox Automotive Canada through its Manheim Canada operation has acquired 100 per cent ownership of Manheim Source Edmonton. Effective immediately, the auction will operate as Manheim Edmonton.

"We are appreciative of the partnership that we had with Manheim Source Edmonton that served our clients in the Alberta market," said Maria Soklis, President, Cox Automotive Canada. "Today's announcement will allow for Manheim Canada to continue to service our clients and offer a full suite of products and services."

"The partnership with Manheim Canada has served well for both parties in the Edmonton market," said Danny Fayad, President and CEO, Source Auto Auction. "We are grateful to have been associated with an industry leader like Manheim and are especially proud of our collaborative results in the Edmonton market."


January 7, 2016

IHS INC. ACQUIRES CARPROOF CORPORATION

IHS Inc., which provides information and analysis to businesses and government, acquired Carproof corporation for $650 million. More details of the acquisition will be provided at IHS fourth quarter and year-end 2015 in January.

“Like Carfax, Carproof is a high-growth business and gives IHS the opportunity to expand our vehicle history report services into Canada. By combining the capabilities of Carproof and Carfax, we also will accelerate product development to better serve the needs of our customers, said Jerre Stead, Chairman and CEO, IHS. This acquisition will add a highly accretive revenue-growth and EBITDA-margin business for IHS, and provide significant room for further growth.”

Carproof was founded in 2000, and is considered the industry standard in Canada for automotive vehicle history reports to dealers, auto auctions, original equipment manufacturers, lenders, insurers, governments, law enforcement agencies and consumers.

IHS acquired Carfax in 2013.


December 21, 2015

NORTH TORONTO AUCTIONS EXPANDS

North Toronto Auctions has expanded its compound by three acres increasing the facility’s total space to 16 acres. The fenced and lighted secure storage area has two new compounds, one for dealer parking and a second for auction marshaling and staging.

“The expansion represents a number of advantages for our fleet customers. OEM lease-end volumes are projected to increase. The expansion allows NTA to provide secure marshaling, inspections, remarketing and CPO inventory management. As well, fleet managers who decide to sell an asset, can have it removed immediately from their facility, eliminating the need for parking or storage at their location effectively reducing costs. NTA works with our fleet customers developing a remarketing strategy that suits their priorities. This extra land really supports that service.” said Stu Ralph, Owner/Partner, North Toronto Auction.

Landscaping and paving will continue in spring 2016.


December 11, 2015

MITSUBISHI MOTORS INTRODUCES CERTIFIED PRE-OWNED PROGRAM

Mitsubishi Motors has introduced a Certified Pre-Owned (CPO) Program for its vehicles and has begun rolling out the program across Canada at participating dealers.

The program will include the following standard features:

• Mitsubishi Motors-approved,160-point vehicle inspection and reconditioning standards (the all-electric Mitsubishi i-MiEV receives a unique 126-point inspection);
• 12-month key (or key fob) replacement coverage;
• 10-day/1,500 km exchange privilege;
• CarProof™ vehicle history report;
• 90-day complimentary customer trial of SiriusXM® satellite radio on applicable models;
• The most extensive standard warranty coverage of any certified program in Canada.

Customers will have the option to extend the comprehensive vehicle warranty (which is transferable to CPO customers) to add an additional four years (or 80,000km) of coverage to the original warranty.

“Our pre-owned program is derived from the company’s key strength – an industry-leading warranty. It builds on the ‘Built Better, Backed Better’ qualities built into every Mitsubishi Motors vehicle,” said Tony Laframboise, vice president, Sales & Marketing, Mitsubishi Motor Sales of Canada. “Our new Certified Pre-Owned Vehicle Program has the potential to offer up to a nine-year/180,000 km comprehensive vehicle warranty, in addition to the 10-year/160,000 standard powertrain warranty that distinguishes Mitsubishi Motors in the Canadian marketplace.”

Mitsubishi Motors has partnered with pre-owned and finance and insurance specialists LGM Financial Services Inc. who will provide full administrative and sales support for the program.


December 10, 2015

COPART CANADA'S NEW MONCTON LOCATION

Copart Canada has opened a location in Moncton, New Brunswick. It has also fully integrated Copart’s Virtual Bidding – The Third Generation (VB3) technology at its Montreal, Québec location.

“We are excited about our growth in Canada and our ability to provide a first-class, online auction experience in both English and French,” said Steve Macaluso, Managing Director of Copart Canada. “Launching these locations as a part of Copart Canada has been a team effort across the company. We are also grateful for the support from these communities as well as our insurance partners.”

Copart Moncton hosted its first auction in October and will host an auction every second Tuesday. Copart Montreal hosted its first fully online auction in November 3, and will host an online auction every Tuesday at 10am.


December 8, 2015

IMPACT AUTO AUCTIONS ACQUIRES SUDBURY AUTO AUCTION

Impact Auto Auctions Ltd., (IAA) has purchased the assets of Sudbury Auto Auctions Ltd., (SAA). IAA will also now become sole owner of Impact Auto Auction Sudbury.

"We are excited to be adding the talented team at Sudbury Auto Auction to our national auction network," said Terry Daniels, Managing Director, IAA. "Owners Dale and Lynda Harnden have been great partners for more than 23 years in helping to develop and serve the northern Ontario salvage market. We look forward to leveraging the strengths of both businesses and continuing the great tradition of whole car services that SAA is known for in this important market."

SAA has been operating since 1986. The company sells dealer, rental, lease, fleet, and finance vehicles. Nor Ontario Auctions, which allows the public to purchase dealer, repo and corporate consigned vehicles at auction prices.

"We felt honoured to be asked to formally join Impact Auto Auctions," said Dale Harnden. "It's been wonderful doing business with the team from Impact Auto Auctions who we've come to know and trust over the last 23 years. We're excited about this opportunity and we expect this relationship will only grow stronger in the years to come."

The Sudbury Auto Auction name will continue to define the company.


September 24, 2015

JUMPSTART AUTOMOTIVE GROUP TO LAUNCH IN CANADA; PARTNER WITH CANADIAN BLACK BOOK

Jumpstart Automotive Group will launch in Canada, and will have an exclusive advertising partnership with Canadian Black Book.

"We are thrilled to launch Jumpstart Automotive Group Canada. We see a tremendous opportunity to help automotive marketers connect with in-market car shoppers and to bring our portfolio of trusted brands to the second-largest audience in North America," said Choon Choi, Senior Vice-President, Strategy and Business Development, Jumpstart. "We are proud to represent CanadianBlackBook.com, one of the most recognized and respected auto research sites in Canada."

Jumpstart Automotive Group Canada will be headquartered in Toronto, Ontario. Justin Oborne will be the Head of Sales, while Steve Carey, who previously worked with Canadian Black Book, will also be part of the sales efforts for Jumpstart.

"Jumpstart is an expert at developing innovative, high-performance marketing programs for automotive advertisers. When this expertise and innovation is combined with our unique vehicle valuation offering, both consumers and advertisers will benefit. This will strengthen our mission to deliver the tools and information to help consumers make a smart and informed vehicle purchase decision," said Brad Rome, President, Canadian Black Book.


July 28, 2015

BEST VALUE IN CANADA AWARD WINNERS

Vincentric announced winners of the fourth annual Best Value in Canada awards. Toyota earned the Best Value Passenger Vehicle Brand, Lexus Best Value Luxury Brand, Ram Best Value Truck Brand, and Toyota also won in the most categories with 12 awards (for Scion, Lexus and Toyota).

“Several auto manufacturers had award winning vehicles across many vehicle segments," said David Wurster, President, Vincentric. “Manufacturers are increasingly monitoring and managing total cost of ownership to better compete with their rivals while offering significant choices and value for consumers.”

Volkswagen Group had seven awards (for Audi, Porsche and VW), Fiat Chrysler Automobiles had five. Ford (with Ford and Lincoln) and Honda each had four awards, Kia had three, General Motors had two, and one each for Mazda, Land Rover, Nissan (with Infiniti), Volvo, and Mercedes-Benz.

To determine winners, Vincentric analyzed eight separate cost factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. Winners were determined by measuring which vehicles had lower than expected ownership costs given the relevant market segment and price. Each vehicle’s evaluation covered all 10 provinces plus the Northwest Territories using a range of annual kilometer intervals and insurance profiles.

For complete list of winners click here.


July 20, 2015

ARI HOSTS CALGARY REMARKETING FACILITY GRAND OPENING
Jeff Parker, Remarketer, Nicholas George, Remarketer, Tim Stevens, Director Western Sales Canada, Rick Tousaw, Sr. VP and General Manager Canada, Bob Graham, VP North American Remarketing, and Chris Clarke, Manager North American Remarketing, all with ARI.
(From left) Jeff Parker, Remarketer, Nicholas George, Remarketer, Tim Stevens, Director Western Sales Canada, Rick Tousaw, Sr. VP and General Manager Canada, Bob Graham, VP North American Remarketing, and Chris Clarke, Manager North American Remarketing, all with ARI.
The grand opening celebrating ARI’s Vehicle Remarketing Facility in Calgary, Alberta, which began operations in June was held recently. The event featured a tour of the centre, online vehicle remarketing auction site demonstrations, and an official ribbon cutting

“This new centre will help us grow our dealer base, which will increase bidding and results for our clients. It also provides more room for the storage of client vehicles which allows us to be more efficient,” said Bob Graham, VP Vehicle Remarketing at ARI. He adds, “Dealers can now use our new three-station dealer bidding centre in the office to conveniently bid online on sale day without leaving the facility.”

The Centre covers more than 12,000 square feet; three times larger than the facility it replaced. Now, ARI now operates remarketing centres in Toronto, Ontario, Montreal, Quebec and Calgary.

“We’re proud of ARI’s unique remarketing expertise, developed over two decades of operating regional vehicle resale centres,” says Peter Nogalo, Marketing Manager at ARI. “With the new Calgary facility, ARI will continue to achieve to highest possible returns on our clients vehicles.


June 30, 2015

VINCENTRIC CANADIAN DIESEL ANALYSIS

Vincentric’s first Canadian Diesel Analysis, shows that 12 of 34 diesel vehicles in the study had a lower total cost of ownership than their gasoline counterparts.

“Over the past several months we've seen the price advantage that gasoline has had over diesel fuel diminish, enhancing the fuel economy advantages of diesel vehicles,” stated Vincentric President David Wurster. “However, fuel economy is only part of the story. With total cost-of-ownership savings from only one third of the diesel models analyzed, consumers need to be informed when shopping for diesels to find the models that offer savings.”

Of the 12 diesel vehicles studied, 11 were luxury vehicles (four Audi, four Mercedes, and three BMW), with the other being the Chevrolet Cruze Diesel.

The Vincentric study found that the average total cost of ownership was $2,030 more for diesel compared to the gasoline equivalent. The diesel price premium was $5,650; diesel maintenance costs were $476 higher; however overall fuel cost savings for a diesel were on average $4,005. All figures are for total cost of ownership.

The Canadian Diesel Analysis was conducted by Vincentric using total cost-of-ownership measuring depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. The analysis assumed duration of ownership of five years and mileage 25,000km annually.

June 22, 2015
INITIAL QUALITY STUDY: JD POWER

Korean brands led by Kia and Hyundai lead in the JD Power 2015 U.S. Initial Quality Study (IQS). The overall best ranked brand was Porsche for the third year in a row with 80 problems per 100 vehicles (PP100). It moves European brands ahead of Japanese brands for the first time with 113 PP100 to 114 PP100. Domestic brands tie Japanese brands at 114 PP100. The industry average improved from 116 PP100 in 2014 to 112 PP100 this year.

>> read more

June 9, 2015
VINCENTRIC AWARDS FOR BEST FLEET VALUE IN CANADA

Vincentric revealed winners of the fourth annual Best Fleet Value in Canada awards. Ford led all award winners with nine awards (six for Ford and three for Lincoln), Toyota was next with seven, General Motors was next with six (four for Buick and two for Chevrolet), Mercedes-Benz followed with five (two for smart and three for Sprinter), Chrysler had four (two for Dodge, one for Jeep and one for Ram), Hyundai and Volvo had two awards each; Mazda, BMW, Volkswagen, Kia, Subaru and Nissan each received one award.

“Driven by the intense competition in the fleet market, this year’s awards had winning vehicles from thirteen different manufacturers across eighteen brands,” stated David Wurster, President of Vincentric. “This diversity offers fleet operators a wide range of choices when using total cost of ownership to help guide their vehicle selections.”

Award winners were determined after analysis of more than 1,800 vehicle configurations in 24 different lifecycle cost settings using eight cost factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. Lifecycle costs were measured in all provinces then applied to determine winners.

“We are thrilled to retain our Best Fleet Value in Canada accolade for the fourth consecutive year,” said Pablo de la Peña, Vice-President of the Mercedes-Benz Vans division in Canada. “Extensive studies like Vincentric’s help demonstrate the highly compelling value proposition offered by the Mercedes-Benz Sprinter as a sound investment for fleets in a wide variety of industries.”

“Volvo Cars continues to see award recognition for the impressive model lineup offered in Canada.” said Marc Engelen, President and CEO, Volvo Cars of Canada. “The Vincentric Best Fleet Value in Canada awards further illustrate that the S60 & V60 are two vehicles that offer dynamic value and the reliability one would expect from a Volvo car.”

For complete list of winners click here.

April 28, 2015
AUTO REMARKETING CANADA CONFERENCE SETS ATTENDANCE RECORD
Attendees to the Auto Remarketing Canada conference
Attendees to the Auto Remarketing Canada conference.
(Photo Credit: Michelle Yee)
Over 700 guests participated in the 2015 Auto Remarketing Canada annual conference at the Westin Harbour Castle in Toronto, Ontario. The conference presented a range of workshops and keynote presentations covering a variety of topics.

“Each year, we are impressed and humbled by the support and interest from our Canadian partners in the annual Auto Remarketing Canada Conference. This year, our growth was exponential, and we want to offer our sincere thanks to our sponsors, exhibitors, speakers and attendees,” said Bill Zadeits, Conference Chairman and publisher, Auto Remarketing Canada. “We are already looking forward to 2016 and are convinced it will be another record breaking year.”

Booths were set up by a total of 34 companies, including: ADESA Canada, Canadian Black Book, Manheim Canada, and North Toronto Auction.

March 24, 2015
WILLIAM WARD PUBLISHING ACQUIRED BY BLACK BOOK

William Ward Publishing, distributor of Canadian Black Book has been acquired by Black Book (which is part of Hearst Business Media).

"We have a rich 55-year history serving the Canadian automobile marketplace with William Ward Publishing and we are delighted to welcome them into the fold," said Richard P. Malloch, President, Hearst Business Media. "Adding William Ward Publishing to our group furthers our ability to deliver essential vehicle pricing data and innovative delivery systems to our customers throughout North America."

Kathy Ward, daughter of founder Bill Ward, will remain as Executive Chairman of the company and Brad Rome, current Vice-President Sales and Marketing, becomes President. Data collection and publishing will continue based on Canadian market transactional information gathered from sources across Canada.

"Black Book is the perfect home for us and a natural fit," said Kathy Ward. "Today marks an exciting new era for our company and our customers, we are delighted to join forces with a true leader in the auto industry."

William Ward Publishing was founded in 1961 by Bill Ward who established the company to distribute Canadian Black Book used vehicle values based on actual Canadian market transactions. Since then, the company has evolved from a distributor of printed guides to a technology company and a recognized consumer brand.

"Kathy, Brad and their talented team will be strong additions to Black Book," said Tom Cross, President, Black Book. "I look forward to working with them even more closely to serve our customers and further accelerate the growth of our business."

February 13, 2015
CANADIAN BLACK BOOK ANNOUNCES BEST RETAINED VALUE WINNERS

Canadian Black Book awarded Best Retained Value in 20 categories and announced them at the Canadian International Auto Show in Toronto. For 2015, the model year evaluated was 2011.The value data having been tracked over the four-year period.

“Our Best Retained Value Awards focus on vehicle depreciation. Consumers thinking about a particular model need to consider what that vehicle might be worth four or five years down the road when they go to trade it in or sell it,” said Josh Bailey, Vice-President, Research and Editorial, Canadian Black Book. “This is especially important if you are financing the vehicle. With the majority of loans now 72 months or longer, today’s deal may seem attractive, but when you want a new car in four years, you may find yourself in ‘negative equity’ where the value of your trade-in is less than your loan balance.“

Toyota led OEMs with seven awards (six for Toyota, one for Lexus); Porsche had three awards, then Audi, FCA (one for Dodge, and one for Jeep), Honda, and Mercedes-Benz each had two awards; Ford and Subaru each had one award.

“When you’re considering where to put your brand loyalty, don’t make decisions based on what appears to be the best deal for your budget today,” said Kathy Ward, CEO, Canadian Black Book. “Smart buyers always consider what a vehicle may be worth in the future.”

Complete list of winners and second third place finishers are below:
    2015 winners are based on 2011 model year vehicles (second and third runners-up are in brackets):
  • Sub-compact: Honda Fit (Kia Soul, Scion xD);
  • Compact: Toyota Prius (Subaru Impreza, Acura CSX);
  • Mid-size: Subaru Outback (Kia Optima, Honda Accord);
  • Full-size: Toyota Avalon (Dodge Charger, Chrysler 300);
  • Entry Luxury: Lexus CT200h (Volvo XC70, Lexus IS);
  • Luxury: Audi A5 (Hyundai Equus, Lexus GS);
  • Premium Luxury: Porsche Panamera (Lexus LS, Mercedes-Benz CLS-Class);
  • Premium Sports: Porsche Boxter (Porsche Cayman, Audi R8);
  • Sports: Dodge Challenger (Volkswagen GTI, Audi TT);
  • Small Pick-up: Toyota Tacoma (Honda Ridgeline, Ford Ranger);
  • Full-size Pick-up: Toyota Tundra (Chevrolet Silverado HD, Chevrolet Avalanche);
  • Minivan: Honda Odyssey (Toyota Sienna, Nissan Quest);
  • Full-size Van: Mercedes-Benz Sprinter (GMC Savana, Chevrolet Express);
  • Compact Commercial Van: Ford Transit Connect (Dodge Grand Caravan Cargo);
  • Compact SUV: Jeep Wrangler (Honda CRV and Subaru Forester (tie));
  • Mid-size SUV: Toyota 4Runner (Toyota FJ Cruiser, Toyota Highlander);
  • Full-size SUV: Toyota Sequoia (Dodge Durango, Nissan Armada);
  • Compact Luxury SUV: Audi Q5 (Acura RDX, Mercedes-Benz GLK-Class);
  • Mid-size Luxury SUV: Porsche Cayenne (Lexus GX, Land Rover LR4);
  • Full-size Luxury SUV: Mercedes-Benz G-Class (Lexus LX, Land Rover Range Rover).
February 13, 2015
ALG CANADIAN RESIDUAL VALUE AWARD WINNERS

ALG named winners of the seventh annual Canadian Residual Value award for 2015 model year vehicles. The top mainstream brand was Subaru, the top premium brand, Land Rover. In all, 27 segments were recognized, brands that according to ALG “forecast to retain the highest percentage of their MSRP after a three-year period for premium brands and a four-year period for mainstream brands.”

“Residual value is important for automakers and consumers because it’s a complete indicator of the vehicle’s future value,” said Larry Dominique, president of ALG. “Since 1981 in Canada, ALG has annually scrutinized reams of data pertaining to vehicle quality, durability and brand desirability to produce the most thorough, accurate indicator of vehicle value in the industry.”

Subaru is back as the top mainstream performer after two years.

“Subaru continues to expand its customer base with compelling redesigns like the all-new Legacy and Outback,” said Dominique. “Restrained fleet sales and incentives ensure that sales growth occurs by organic retail demand, which enhances Subaru’s used market brand image.”

Land Rover topped the top spot in the premium segment for the first time.

"Land Rover's brand stands for unparalleled capability paired with ultimate luxury," said Dominique. “Some Land Rover models are in such high demand that they’re selling above MSRP – a remarkable achievement that’s only possible with manufacturer restraint and a tightly controlled supply chain.”
  • City Car: Nissan Micra;
  • Sub Compact: Nissan Versa Note;
  • Compact: Subaru Impreza;
  • Midsize: Subaru Legacy;
  • Fullsize: Toyota Avalon;
  • Sport: Subaru BRZ;
  • Alt-Fuel: Toyota Prius c;
  • Minivan: Honda Odyssey;
  • Subcompact Utility: Kia Soul;
  • Compact Utility: Honda CR-V;
  • Midsize Utility - 2 Row: Subaru Outback;
  • Midsize Utility - 3 Row: Toyota Highlander;
  • Fullsize Utility Toyota Sequoia;
  • OffRoad Utility: Toyota 4Runner;
  • Midsize Pickup: Toyota Tacoma;
  • Fullsize Pickup: Toyota Tundra;
  • Midsize Commercial Van: Ford Transit Connect;
  • Fullsize Commvercial Van: Ford Transit;
  • Premium Compact: MINI Cooper;
  • Premium Midsize: Audi A5;
  • Premium Fullsize: Hyundai Genesis;
  • Premium Executive: Maserati Quattroporte;
  • Premium Sport: Audi R8;
  • Premium Compact Utility: Lexus NX;
  • Premium Midsize Utility - 2 Row: Land Rover Range Rover Sport;
  • Premium Midsize Utility - 3 Row: Lexus GX;
  • Premium Fullsize Utility: Lexus LX.
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