Uber has partnered with Toyota’s KINTO Share program to offer drivers the ability to rent zero-emission vehicles. The program officially launched on April 18 in Metro Vancouver, B.C. Uber and Toyota Canada, with Toyota Financial Services, announced the partnership on the same day; they explained in a news release that eligible drivers on the Uber platform in the Metro Vancouver area will be able to rent ZEVs through the program. This includes Toyota’s bZ4X, and eventually the Mirai — a hydrogen fuel cell electric vehicle. “Switching to a zero-emissions vehicle is a big decision,” said Michael ..read more

AUTOVATE podcast host Cliff Banks recently discussed the booming rise of dealership mergers and acquisitions with James “JT” Taylor, Managing Director of Automotive for Truist Securities, during the launch of the podcast’s second season. Taylor, as AUTOVATE’s newsletter described, helped structure some of the industry’s largest transactions. During the podcast, he explored the current dealership mergers and acquisitions market, and discussed creative ways to finance transactions for dealers looking to add to their company portfolios. At one point, Taylor said “the values have never been highe ..read more

Geotab recently launched a new report on fleet electrification, which uses data sourced from over 2 million vehicles globally to look at the potential for electrification to make fleet operations more efficient, boost cost management, and meet sustainability targets. In its “Taking Charge: On the road to the EV Future” report, Geotab noted that electric vehicles in the light-duty fleet category could prevent the use of 2.2 billion gallons of fuel. It could also help avoid around 19 million metric tons of CO2 emissions over the next seven years. “By leveraging real-world data insights, we ..read more

Cars.com’s second annual Affordability Report paints a picture of a retail environment in the United States that is now more accessible to consumers than it has been for months or even years. The report found that new vehicle supply in the U.S. is rebounding, with the under $30,000 category having grown the fastest. Inventory was up 77% year-over-year, though figures are still lower than 2019 levels. The company considered 85 new vehicles for its 2024 report, with half of the models falling below the $30,000 mark. “While prices are down, they’re still nowhere near pre-pandemic levels,” s ..read more

The vehicle inventory shortage in Canada has largely improved, but there is more to the story than meets the eye: it appears new vehicle dealer inventory includes plenty of zero-emission options and not enough internal combustion engine units. That is according to the latest update from DesRosiers Automotive Consultants (DAC), which reached out to colleagues at the Canadian Automobile Dealers Association for more information. Among the many questions they asked, DAC discussed current inventory levels and opinions regarding both ZEV and ICE vehicles. DAC discovered that, “whilst dealer invento ..read more

Volvo Canada is buoyant about its brand commitment to electric vehicles and sustainability following a record month in March, a solid start overall in 2023, and the launch of new products. The company sold a record 589 EVs in March in Canada, which represented almost 50 per cent of total sales. The company had 21.7 percent growth over the same period in 2023. For the first quarter of 2024, the company sold 2,626 vehicles, a growth of 5 per cent. The company set an all-time Canadian record for sales in 2023 with 12,865 — a 25 per cent increase over 2022. EV sales accounted for 35 per cent ..read more

Canadian automotive group Go Auto recently announced the acquisition of Merlin Ford Lincoln and Canada West RV & Truck Centre in Saskatoon. This is the group’s first dealerships in Saskatchewan. In a news release, Go Auto said it now has 65 dealerships across Canada and the United States with the addition of the Saskatoon stores. Its latest acquisition highlights the group’s commitment to expanding its presence in Western Canada. “I would like to extend our heartfelt gratitude to Jason Bews and the Bews family for their leadership and exceptional work in building Merlin Ford Lincoln, whic ..read more

Paying attention to the progressive steps of Chat GPT and artificial intelligence overall may not seem necessary to some dealers, but its importance should not be understated. While the impact that AI and especially Chat GPT will have on auto retail is not fully known, the technology is moving forward with increasing speed and arguably at alarming rates. In a recent news release, IDTechEx said the potential for this technology to both improve working environments and reinvent socializing (within an automotive context) is “promising.” “Cars that can judge the difference between people and sign ..read more

March new vehicle average transaction prices in the United States slipped 1% from February and were also lower year-over-year by 2.7%, according to Kelley Blue Book. When calculating the average from December 2022, a peak period, prices are now down 5.4%. Still, while the U.S. new vehicle average transaction price in March was lower (at $47,218), it was also 15.5% higher than March 2021. KBB said the supply recovery was “the most important contributor” to recent sales results, compared to 2023. New vehicle inventory was nearly 2.74 million units at the start of March 2024 — up 52% YOY, while ..read more

  On March 27, the Toronto Police College, Staff Superintendent Pauline Gray of Detective Operations, and Superintendent Steve Watts of Organized Crime Enforcement announced the results of a vehicle theft investigation dubbed “Project Paranoid.” Forty-eight vehicles were seized during the operation: 20 in Burlington, Ont., as a result of a joint effort with the Halton Regional Police Service at a shipper location; five purchased by undercover officers; three located during the execution of search warrants; and 20 intercepted in Toronto and Montréal with the assistance of the Canada Borde ..read more