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 […]
Flooding the Market: Concerns raised over surplus of illegal imports in Mexican used market
Toronto, Ontario — The director of an organization representing Mexico’s auto parts industry has spoken out with concerns about his government’s handling of illegally imported used vehicles, as well as new policies that could hurt the local vehicle sales market. Alberto Bustamante, director of Mexico’s National Parts Industry (INA), spoke to reporters from Reuters about […]
A New Era: Impact Auto Auctions rebrands to IAA
Toronto, Ontario — Heads-up to the auto recyclers out there; a familiar face in the aftermarket industry has adopted a new name, as Impact Auto Auctions has officially rebranded to IAA. This recent change by the used vehicle distributor can already be seen across IAA’s online platforms, such as its website, Auction Center, Seller Portal, […]
State of the Industry: National average used vehicle prices hit all-time high
Toronto, Ontario — National vehicle and parts sales felt a push in a positive direction in December as the latest data from Statistics Canada shows industry growth of about 3.3 percent to a total of $11.8 billion. Despite the positive turn at the calendar year’s end, December sales were still 1.6 percent below pre-pandemic levels […]
