As many vehicle owners drove fewer miles last year because of COVID-19 and stay-at-home orders, overall customer satisfaction with auto dealer service departments still increased for a sixth consecutive year. That is according to the J.D. Power 2021 Customer Service Index Study, which showed dealer service visits declining only by 6% from the previous year. […] [Read More]

Nearly 60% of car buyers responding to a Cars.com survey said the pandemic influenced their decision to purchase a vehicle. More than 50% bought sooner than originally planned, according to the company's national survey of more than 1,500 online respondents, released on Wednesday. Another insight from the survey is that over the past year, at-home […] [Read More]

In December, First Business Bank announced a new agreement to offer floorplan financing to independent dealerships through ACV Auctions. On Tuesday, the bank made a similar move; this time unveiling a new arrangement allowing First Business Bank’s floorplan financing clients to finance their vehicle inventory purchases from SmartAuction. First Business Bank is enthused about this […] [Read More]

Kelley Blue Book’s parent company Cox Enterprises recently expanded its longstanding relationship supporting Girls Inc., a nonprofit that inspires girls to be strong, smart, and bold. To celebrate Women’s History Month, Kelley Blue Book worked with Charitable Adult Rides & Services — or CARS — to launch a campaign helping Girls Inc. and other nonprofits […] [Read More]

Laurie Halter, owner of the Charisma! auto industry public relations firm and host of the "Carearing" podcast, and Cherokee Media Group director of meetings & events Marilu McQuilkin join the Auto Remarketing Podcast. They talk with Auto Remarketing senior editor Joe Overby about diversity and inclusion in automotive, mentorship and whether the auto industry has made progress […] [Read More]

Shoppers choosing to buy a 2021 model from one of Kelley Blue Book’s Best Resale Value Brand winners can be confident that their vehicle will do well in retaining its value over time. That’s according to Eric Ibara, director of residual values for Kelley Blue Book. Ibara provided that opinion as Kelley Blue Book on […] [Read More]

Fitch Ratings cited multiple data points from the National Automobile Dealers Association  in explaining its reasons to state that dealer floorplan asset-backed securities (ABS) performance is expected to be stable in 2021. Along with the strong profit metrics noted by NADA, Fitch said its dealer floorplan ABS asset performance and rating outlooks are stable for […] [Read More]

Used-vehicle sales this month will likely beat January figures by a double-digit percentage, but slow from a year ago. That’s according to a forecast released Tuesday by TrueCar, which called for 3.5 million used-vehicle sales for February. That sum would beat January sales by 12% but fall 4% short of February 2020 numbers, TrueCar said. […] [Read More]

iSeeCars recently published a list of the fastest-selling used cars in January, and the Hyundai Palisade came out on top at 26.2 average days to sell. But what are the slowest sellers? On Monday, iSeeCars published a study of the slowest-selling new and used vehicles for January. According to iSeeCars, the slowest-selling used vehicle for […] [Read More]

Binary Automotive Solutions chief marketing officer Troy Scheer is back on the Auto Remarketing Podcast. In this epsiode, he talks more about social listening and how it can help dealers prevent future problems, lessons learned from 2020, new programs at Binary and much more. Plus, Troy shares a bit about his new podcast, "Culture of […] [Read More]