A “uniquely difficult environment” was cited as the reason for the used auto retailer Carvana’s giant loss of over (US) $11 billion in the first three months of this year. It was a much larger-than-expected quarterly loss that’s taking a …
There is huge customer support for going digital when it comes to getting financing, according to a car buyer financing journey study by Cox Automotive. Though less than 30 per cent of buyers actually used online financing, 96 per cent …
Phyron, a Swedish video tech company that uses artificial intelligence to produce automated videos for the auto industry, today announced they are opening a new office in Toronto as part of a strategic expansion into North America. The new …
The used car market is expected to surpass USD 2 trillion by 2028, reported in a research study by Global Market Insights Inc. Substantial increase in urbanization supported by vehicle ownership trends is likely to augment the industry growth. The …
Luxury automaker Volvo—with aspirations to go entirely electric by 2030—has now bought into the super-fast-charging business. The Volvo Cars Tech Fund just announced it has invested in StoreDot, an Israeli company creating an extremely fast-charging battery. It’s aiming to …
Though Automakers around the world are rushing to build out production capacity for electric vehicles, there are still plenty of ICE-powered vehicles to build in the coming years. For that reason, Toyota is continuing to invest in ICE production, …
As part of its wider global strategy, VinFast has been making significant headway in the North American market in recent years. VinFast is pursuing a further expansion into the United States with the announcement that it plans to build …
From May 16 to June 16, HGregoire, in collaboration with Tree Canada, will plant a tree for each vehicle sold. The company states in a press release that they are “aware of the negative impact that the automotive industry has …
A policy proposed by Vancouver city hall would charge gas stations and parking lots $10,000 per year for failing to provide charging stations for electric vehicles at their facilities. The proposal is aimed at speeding up the rollout of EV …
Tesla Inc. reported its most profitable quarter in company history fueled by record deliveries in 2022’s first quarter, despite ongoing supply chain challenges and slowed production in China. In a shareholder meeting, the company announced it earned a best-ever $2.86 …
Canadian auto dealer editor, Stephanie MacDonald, gets a chance to catch up with Francesco Policaro, president of the Policaro Auto Group. Policaro discusses choosing the Kitchener/Waterloo region as the place to expand, the status of the exciting new 75,000 square …
The semiconductor shortage has clearly been the dominant issue within the Canadian automotive market over the past year, with the impacts felt in sales figures and seen in empty dealer lots. To get a better measure of the issue, DAC …
