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February 3, 2015
AUTO REMARKETING CONFERENCE COMING IN APRIL

The 2015 annual Auto Remarketing Canada conference at the Westin Harbour Caste in Toronto, Ontario will take place on April 20 and 21. The conference will be programmed with workshops and keynote presentations with networking breaks interspersed.

Ross Williams, President and CEO, Hyundai Motor Finance and Kia Motors Finance will present the opening address. Other keynote panel topics include: Used Supply Relief, Is it on the Horizon, Dealer to Dealer Auctions, The Future of Online Sourcing, Is Canada Ready for a CPO Boom, The Digital Revolution in Automotive Finance, Marketing to Millennials: What Changes and What Stays the Same, Executive Analysis – The Canadian Used Car Industry, plus a general selection of related topics and keynote speeches.

An expo with booths manned by industry exhibitors include Canadian Black Book, CarProof, Dealertrack Canada, Kijiji, and others. Concurrent workshops will be available and will allow attendees to choose those that most align with their interests.

For a complete agenda please visit: arcanada.autoremarketing.com/agenda/.

October 14, 2014
CARPROOF ACQUIRES RED BOOK TO AUGMENT NEW VEHICLE VALUATION TOOL

CarProof announced that it has acquired Canadian Red Book, which specializes in government and insurance verticals. Expansion for Red Book is expected over the next year.

"What really matters in vehicle valuation is what cars are selling for and we have that data," said Paul Antony, President and CEO, CarProof. "We're entering into valuation because of the significant gaps in accuracy that exist right now. It's a natural extension for CarProof and we're approaching it from the same angle as we do our vehicle history reports, we want to use real transactional data to produce the most accurate and comprehensive valuation tool available in Canada."

CarProof is planning to launch a vehicle valuation tool using retail and wholesale transaction data to provide VIN-specific analyses.

"CarProof is once again going to significantly improve the way we do business," said Jeff Polo, GM, Destination Toyota. "They are further empowering me to make informed buying and selling decisions."

September 16, 2014
VINCENTRIC BEST VALUE IN CANADA WINNERS

Vincentric announced winners of the third annual Best Value in Canada awards analyses with Toyota earning Best Value Passenger Vehicle Brand, Audi Best Value Luxury Brand, Chevrolet Best Value Truck Brand, and Volkswagen Group winning the most categories with 10 awards.

“Our thanks to Vincentric for awards that help consumers understand the value engineered into vehicles,” said Seiji Ichii, President and CEO, Toyota Canada Inc. “We are pleased that Toyota is recognized across its lineup, including conventional and hybrid powertrains.”

Diesel and hybrid models represented 16 award winners with an alternative fuel choice. Audi (three) and VW (four) with TDI powered vehicles together won seven awards, BMW earned three for diesels, and Toyota won three hybrid categories.

“We are pleased with the recognition from Vincentric," said Thomas Tetzlaff, Manager of Media Relations, VW Canada. "To recognize our full line-up of vehicles for the outstanding value they provide consumers is testimony to the time our engineers and product planners have devoted to making our product so well suited to Canadian consumers”.

To determine winners, Vincentric analyzed over 1,800 vehicle configurations measuring cost-of-ownership covering eight separate cost factors: depreciation, fees and taxes, financing, fuel, insurance, maintenance, opportunity cost, and repairs. Using a statistical model, winners were determined by measuring which vehicles had lower than expected ownership costs given the 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.

“Over the past three years we've observed an increased presence of alternative fuel vehicles in the Canadian retail market, and the 2014 Vincentric Best Value in Canada™ awards demonstrate how these alternative fuel vehicles can often offer buyers strong value," stated David Wurster, President of Vincentric. "The fact that so many automotive brands were honoured with at least one vehicle award indicates that no matter the buying preferences of the Canadian consumer, the marketplace is rich with value-driven vehicle options."

For complete list of winners click here.

June 30, 2014
VINCENTRIC NAMES BEST FLEET VALUE IN CANADA AWARDS

Vincentric identified winners of the third annual Best Fleet Value in Canada awards. Nissan and Toyota led, with each earning eight awards. Next were General Motors with seven awards, Chrysler, Mercedes-Benz, and Ford, with four each, and Mitsubishi with two.

"With a three-year history of fleet awards in Canada, we are noticing some trends,” said David Wurster, President, Vincentric. "The Mercedes-Benz Sprinter and the Toyota hybrids have had strong performances all three years, with GM and Ford also consistently delivering numerous award winners. The Nissan line-up and Ram trucks also had a strong presence in the awards this year, which will give fleet operators a wide range of choices when using total cost of ownership to help guide their vehicle selections."

Award winners were designated after analysis of more than 1,900 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.

Vincentric found that:

  • “Nissan success was led by its crossover class and a strong performance by the NV product line in the van class, with three Nissan award winners in each segment.”
  • “Toyota earned its awards with a well-balanced line-up in the passenger vehicle and crossover classes, including multiple hybrid winners.”
  • “The General Motors achievements were led by Buick and Cadillac with a combined total of five awards.”
  • “Dodge and Ram brands earned two awards each for Chrysler, with the Ram 2500 and 3500 pickups sweeping the heavy-duty pickup segments.”
  • “The Mercedes-Benz Sprinter performed strongly for the third year in a row, winning three of the heavy duty van segments.”
  • “Ford earned awards in key fleet segments with the F-150 pickup and E-150 passenger van topping their winners list.”

For complete list of winners, view the PDF here.

June 17, 2014
NORTH TORONTO AUCTION MAKES PROFIT 500 RANKING AGAIN

North Toronto Auction has been recognized by the annual PROFIT 500 ranking of Canada’s fastest growing companies for the second consecutive year. The ranking is published by PROFIT magazine and ranks Canadian businesses by revenue growth over five years.

“Wow! Back to back for North Toronto Auction. We feel honoured and humbled, yet still amazed at what we’ve been able to accomplish. It seems we are just getting started. We would also like to salute the other companies in this “Fastest Growing” category and have a deep understanding of the passion and tenacity it takes to nurture growth in today’s business environment,” said Stu Ralph, Owner/Partner, NTA.

NTA was launched in 2003. It holds dealer auctions bi-weekly; 24 public auctions a year.

April 1, 2014
EMKAY’S VEHICLE REMARKETING RECERTIFIED

EMKAY’s Vehicle Remarketing Department has been recertified by the International Automotive Remarketers Alliance (IARA) Certified Automotive Remarketer (CAR) program. The certification was given to John Elizaga, Director of Vehicle Remarketing; Mona Spoon, Territory Manager; and Dave Thomson, Territory Manager.

“At EMKAY we are consistently innovating which includes taking the extraordinary and making it a standard,” said Andrew Griffith, Vice-President of Operations and IT, EMKAY. “We are so pleased to have the entire remarketing department achieve the IARA CAR recertification. This new standard within our company is pushing the bar to enable us to provide a simple better and different client experience.”

The IARA CAR program covers remarketing channels, presale activities, actual sale activities, post-sale activities, legal and ethics issues, and terminology. Recertification requires that each applicant pass a test comprised of 50 core questions taken from 20 course exams.

March 25, 2014
AUTO REMARKETING CONFERENCE ATTRACTS OVER 600 PARTICIPANTS

Over 600 guests participated in the 2014 Auto Remarketing Canada annual conference at the Westin Harbour Caste in Toronto, Ontario. The conference was distributed into workshops and keynote presentations, with networking breaks available.
>> read more

February 25, 2014
AUTOMOTIVE LEASE GUIDE: 2014 RESIDUAL VALUE AWARDS

Automotive Lease Guide (ALG), released its sixth annual Canadian Residual Value Awards. Honda was the 2014 number one Mainstream Brand winner for the second consecutive year. The rest of the top five were: Subaru, Mazda, Nissan and Toyota.

“Residual value is important to auto manufacturers, dealers and fleet managers, finance companies and, especially, consumers – essentially everyone who buys and sells cars and trucks,” says Larry Dominique, President, 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.”

The 2014 Premium Brand Canadian Residual Value award went to Acura, also for the second consecutive year. The rest of the top five were: Infiniti, Lexus, BMW and Audi.

“For all consumers, and especially commercial fleet customers, the residual value of a vehicle is an important factor in their purchasing decision,” said Tony Harold, National Manager, Sales, Fleet Operations and Strategic Planning, Mazda Canada. “The ALG award recognizes that the Mazda3 provides solid value, in addition to the great quality, design and driving dynamics that the Mazda3 delivers to our valued customers.

Toyota (including Lexus) won most category awards with 10, followed by Nissan (including Infiniti) and Honda (including Acura) with three each, Subaru and BMW (including MINI) had two each, and Mazda, Kia, Mercedes-Benz and General Motors one each.

“Five years ago, ALG began honouring the vehicles that best maintain their value in the Canadian marketplace,” says Geoff Helby, Canada Regional Director, ALG. “Congratulations to Honda, which, in a year with only one new model launch, used solid fundamentals to earn its second consecutive Mainstream Brand award. And congratulations to Acura, which earned its second straight Premium Brand Award by offering one of the best premium value equations in Canada.”

"Our approach is designed to give the Subaru driver an unsurpassed level of confidence behind the wheel," said Shiro Ohta, president and CEO of Subaru Canada. "This dedication has helped us consistently rank as one of the industry's top manufacturers. Having the highest predicted resale value in two segments will help more and more Canadians put Subaru on their shopping lists."

Category winners were:

  • Sub Compact: Nissan Versa;
  • Compact: Mazda3;
  • Midsize: Honda Accord;
  • Fullsize: Toyota Avalon;
  • Sporty: Subaru BRZ;
  • Alt-Fuel: Toyota Prius c;
  • Minivan: Honda Odyssey;
  • Subcompact Utility: Kia Soul;
  • Compact Utility: Nissan Rogue;
  • Midsize Utility - 2 Row: Subaru Outback;
  • Midsize Utility - 3 Row: Toyota Highlander;
  • Fullsize Utility Toyota Sequoia;
  • OffRoad Utility: Toyota FJ Cruiser;
  • Midsize Pickup: Toyota Tacoma;
  • Fullsize Pickup: Toyota Tundra;
  • Premium Compact: MINI Cooper;
  • Premium Midsize: BMW 4 Series;
  • Premium Fullsize: Lexus GS;
  • Premium Executive: Mercedes-BeChevrolet Corvette;
  • Premium Compact Utility: Acura RDX;
  • Premium Midsize Utility - 2 Row: Lexus RX;
  • Premium Midsize Utility - 3 Row: Infiniti QX60;
  • Premium Fullsize Utility: Lexus LX 570.

February 18, 2014
CANADIAN BLACK BOOK’S BEST RETAINED VALUE WINNERS

Canadian Black Book revealed Best Retained Value awards in 19 categories. This year 2010 model vehicles were featured, data having been tracked over that four year period.

“Although CanadianBlackBook.com proclaims winners, in effect, it’s the Canadian car buyer who decides who wins our Best Retained Value awards,” said Josh Bailey, VP, Research & Editorial for Canadian Black Book. “In the end, it is consumer perceptions and how much they’re prepared to pay for cars and trucks that ultimately determines how much a vehicle is worth.”

Toyota led OEMs with a total of seven awards (six for Toyota, one for Lexus); Honda, Mercedes-Benz, Porsche, and Chrysler (one for Dodge, one for Jeep) with two awards, and Land Rover, Hummer, Subaru and BMW each with one award.

“We made available our web-based value calculators to consumers, free of charge, four years ago and the popularity of the tools continues to grow,” says Kathy Ward, CEO, Canadian Black Book. “Look-ups by car shoppers of trade-in value, future value and average asking price now top more than 250,000 monthly.”

    2014 winners are based on 2010 model year vehicles (runners-up are in brackets):
  • Sub-compact: Honda Fit (Kia Soul);
  • Compact: Toyota Prius (Volkswagen Golf);
  • Mid-size: Subaru Outback (Volkswagen Passat CC);
  • Full-size: Toyota Avalon (Nissan Maxima);
  • Entry Luxury: BMW 1 Series (Audi A4);
  • Luxury: Lexus GS (BMW 5 Series);
  • Premium Luxury: Porsche Panamera (BMW 6 Series);
  • Premium Sports: Porsche Boxter (Nissan GT-R);
  • Sports: Dodge Challenger (Volkswagen GTI);
  • Small Pick-up: Toyota Tacoma (Ford Explorer Sport Trac);
  • Full-size Pick-up: Toyota Tundra (Chevrolet Avalanche);
  • Minivan: Honda Odyssey (Toyota Sienna);
  • Full-size Van: Dodge Sprinter (GMC Savana);
  • Compact SUV: Jeep Wrangler (Honda CRV);
  • Mid-size SUV: Toyota FJ Cruiser (Hummer H3);
  • Full-size SUV: Toyota Sequoia (Nissan Armada);
  • Compact Luxury SUV: Mercedes-Benz GLK-Class (Acura RDX);
  • Mid-size Luxury SUV: Land Rover LR4 (Infiniti FX Series);
  • Full-size Luxury SUV: Hummer H2 (Mercedes-Benz G-Class).
December 18, 2013
ALG RELEASES BRAND PERCEPTION RESULTS
ALG Brand Perceived Quality Mainstream brands
ALG Brand Perceived Quality Mainstream brands.

ALG has released the Brand Perceived Quality index results, with Honda and Mercedes-Benz taking honours in mainstream and premium brands, respectively.

“The perception of a brand’s quality is a leading indicator of that brand’s ability to hold its value, much more so than actual build quality,” said Eric Lyman, V.P. of Editorial, ALG. “Perception is definitely reality when it comes to vehicle quality.”

ALG Brand Perceived Quality Mainstream brands
ALG Brand Perceived Quality Luxury brands.
The remaining top five mainstream brands were: Toyota, Volkswagen, Nissan and Mazda. In the premium brand segment, the remaining top five were: BMW, Ferrari, Porsche and Lexus.

The ALG index assesses opinions of recent vehicle buyers about perceived quality of all brands, even those not specifically purchased. Volkswagen was rated highly by owners and non-owners. Owners thought highly of both Subaru and Kia products. Audi was ranked highest premium brand by owners.

“Kia and Subaru are great examples of automakers that have momentum in the perception of their brand quality,” said Geoff Helby, Director of Canadian Operations, ALG. “Owners are delighted by the quality and rate the brand highly. The more people who experience the quality of those brands, the more those brand will see improvements.”

October 21, 2013
FIVE FINALISTS CONSIDERED FOR GREEN CAR OF THE YEAR AWARD

Green Car Journal selected the 2014 top five green cars from which the Green Car of the Year will be decided in November. The finalist are: 2014 Audi A6 TDI, 2014 Mazda3, 2014 Honda Accord, 2014 Toyota Corolla, and 2014 BMW 328d. Each finalist also receives Green Car Product of Excellence honours from the magazine.

"The diversity of this field of finalists illustrates not only that 'green' has gone mainstream, but also that there is no single approach to achieving ever higher levels of fuel efficiency and environmental performance," says Ron Cogan, editor and publisher of Green Car Journal and CarsOfChange.com. "There's something for everyone in this year's field of finalists, including clean diesel, high efficiency gasoline, and hybrid/plug-in hybrid power featured in mainstream, sporty, and executive models."

Green Car of the Year jurors include Jay Leno, Tonight Show host, Jean-Michel Cousteau, President, Ocean Futures Society; Frances Beinecke, President, Natural Resources Defense Council; Michael Brune, Executive Director, Sierra Club; and Matt Petersen, board member of Global Green USA. Editors of Green Car Journal round out the jury.

The Green Car of the Year award will be presented at the 2013 Los Angeles Auto Show in November.

May 27, 2013
ADESA ILLUSTRATES AUCTION PROCEDURES FOR WHEELS CLIENTS

Wheels Inc invited their clients for a customer appreciation event at Adesa Toronto auction
Wheels Inc invited their clients for a customer appreciation event at Adesa Toronto auction.
Wheels Inc., and Adesa Canada participated in a Customer Appreciation Event at Adesa Toronto. Eddy Cusan, Executive Sales Director, Adesa Canada and Openlane Canada, presented a summary of Canadian Economic Trends and how these have impacted used vehicles and the auction business.

Eddy Cusan, Adesa Canada and Openlane Canada, presented a summary of Canadian Economic Trends to attendees
Eddy Cusan, Adesa Canada and Openlane Canada, presented a summary of Canadian Economic Trends to attendees.
The presentation was followed by an auction tour led by Darryl Maidment, GM, Adesa Toronto. Visitors then watched Wheels vehicles go through the auction block while Patrick O’Conner, Regional Sales Manager, Vehicle Remarketing, Wheels, and Maidment worked the auctioneers table.

Visitors watched Wheels vehicles go through the auction block while Patrick O’Conner (right), Wheels was on the auction table
Visitors watched Wheels vehicles go through the auction block while Patrick O’Conner (right), Wheels was on the auction table.
“It is always time well spent to show existing customers from all areas of the automotive world what happens at an auction,” said Cusan. “It takes great effort to bring our buyer and sellers together, and this creates an event worth attending.”

Following the tour, a short presentation on the auction process at Adesa from start to finish, and the role that Openlane plays was given.

May 14, 2013
NORTH TORONTO AUCTIONS 10 YEAR ANNIVERSARY AUCTION BIGGEST EVER

(From left) Matt Rispin, Frank Panza, and Stu Ralph, North Toronto Auction, celebrate 10 years, on the auction block.
(From left) Matt Rispin, Frank Panza, and Stu Ralph, North Toronto Auction, celebrate 10 years, on the auction block.
North Toronto Auctions, Canada’s largest independently owned auction, celebrated its 10th anniversary with a record sale. The sale attracted over 300 vehicle consigners, OEM representatives, fleet operators, dealers and auto finance professionals. The sale set a number of records for NTA including highest attendance, consignment, sales and online bids.

(From left) Christian Panza, Norrth Toronto Auction, and Mike Cole, Ontario Ministry of Transportation celebrate at the 10th anniversary auction.
(From left) Christian Panza, North Toronto Auction, and Mike Cole, Ontario Ministry of Transportation celebrate at the 10th anniversary auction.
“This 10th anniversary milestone is a testament to all the hard work, effort and belief our employees and partners have put toward our success and truly makes us just above the rest,” said Frank Panza, Owner/Partner, NTA



April 30, 2013
RECORD ATTENDANCE FOR AUTO REMARKETING CANADA CONFERENCE

Keith McLaughlin, Canadian Automotive Fleet, Dina Ignjatovic, TD Auto Finance, Gary Rubenstein, Harvard Auto Sales, Tim Quesnel, Ford Motor Company and Gerry Corcoran, Jim Pattison Lease during the Economic and Executive Analysis for the Canadian Pre-Owned Industry keynote session
(From left) Keith McLaughlin, Canadian Automotive Fleet, Dina Ignjatovic, TD Auto Finance, Gary Rubenstein, Harvard Auto Sales, Tim Quesnel, Ford Motor Company and Gerry Corcoran, Jim Pattison Lease during the Economic and Executive Analysis for the Canadian Pre-Owned Industry keynote session.
Auto Remarketing Canada held its annual conference in Toronto, Ontario in April. The event attracted close to 600 attendees who participated in workshops, break out sessions and presentations over two days.

Keith McLaughlin, Publisher, Canadian Automotive Fleet moderated the first day keynote session “Economic and Executive Analysis for the Canadian Pre-Owned Industry”. The session featured a panel discussion with Dina Ignjatovic, TD Auto Finance, Gary Rubenstein, Harvard Auto Sales, Tim Quesnel, Ford Motor Company and Gerry Corcoran, Jim Pattison Lease.

April 16, 2013
ADESA HOLDS A DAY AT THE AUCTION FOR FOSS CLIENTS

A day at the auction for clients was hosted by Adesa Toronto by Foss National Leasing and Adesa Canada
A day at the auction for clients was hosted by Adesa Toronto by Foss National Leasing and Adesa Canada.
Foss National Leasing and Adesa Canada held a joint Day at the Auction at Adesa Toronto for Foss clients. Market overview and comparative analysis presentations were delivered by Chris Stickley, Executive Sales Manager, Adesa Canada, and Claudio De Angelis, Remarketing Manager, Foss National Leasing. The discussions were followed by a tour of the auction block itself where Foss vehicles were observed, followed by a short tour of the reconditioning and maintenance centre.

“With remarketing being such an integral part of the lifecycle cost to our customer’s fleets, it’s important to continually offer them opportunity’s to see first hand the remarketing process and what transpires behind the scenes when one of their vehicles is returned,” said De Angelis.

March 19, 2013
AUTOMOTIVE LEASE GUIDE: 2013 RESIDUAL VALUE AWARDS

Automotive Lease Guide (ALG), released its fifth annual Canadian Residual Value Awards. Honda was 2013 Number One Mainstream Brand winner, followed by Subaru, Mazda and Volkswagen. 2013 Premium Brand Canadian Residual Value award went to Acura, followed by Infiniti, Lexus and Audi.

“For all consumers, residual value represents a complete indicator of vehicle value, taking into account quality, durability and brand desirability,” said Larry Dominique, President of ALG. “The Canadian Residual Value Awards recognize those brands and products that are using the best business practices to protect the value of their vehicles.”

Toyota (including Lexus) and Honda (including Acura) won in most category awards with five each, followed by Subaru (three), Nissan (including Infiniti) (three), Volkswagen (including Audi) (two), MINI (two), and Mercedes-Benz and Cadillac each one.

Category winners were:
  • Sub Compact: Honda Fit;
  • Compact: Subaru Impreza;
  • Midsize: Honda Accord;
  • Fullsize: Toyota Avalon;
  • Sporty: Subaru BRZ;
  • Alt-Fuel: Volkswagen Golf TDI;
  • MPV: Honda Odyssey;
  • Compact Utility: Honda CR-V;
  • Midsize Utility: Subaru Outback;
  • Fullsize Utility Toyota Sequoia;
  • Midsize Pickup: Toyota Tacoma;
  • Fullsize Pickup: Toyota Tundra;
  • Premium Compact: MINI Cooper;
  • Premium Midsize: Cadillac ATS;
  • Premium Fullsize: Lexus GS 350;
  • Premium Executive: Mercedes-Benz CLS Class;
  • Premium Sportscar: Nissan GT-R;
  • Premium Alt-Fuel: Audi A3 TDI;
  • Premium Compact Utility: Acura RDX;
  • Premium Midsize Utility: Infiniti JX;
  • Premium Fullsize Utility: Infiniti QX56.

For older remarketing news, click here to view our Remarketing Archive.





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