On the surface, launching an initial public offering during a pandemic, with entire markets and industries only just beginning to restart, may seem like a head-scratcher. But for an ecommerce company in an asset-heavy, traditionally brick-and-mortar-based industry like automotive retail, it might make total sense. It did for Vroom this week. On Monday, the online […] [Read More]

The COVID-19 pandemic has placed a spotlight on the need for dealers to act quickly in adopting the tools and practices of the future. If dealers want to succeed in a post-COVID-19 future, they must move decisively to build out their digital-first competency and infrastructure. According to a new report titled, “A Post COVID-19 Era […] [Read More]

Cox Automotive president and chief executive officer Sandy Schwartz was set to send a letter Monday to many of the company’s clients and partners on a strategic plan called “The Way Forward.” Auto Remarketing caught up with Schwartz by phone on Thursday to discuss the three-point plan, the details of which can be found in […] [Read More]

Industry organizations like the National Independent Automobile Dealers Association and the National Association of Federally-Insured Credit Unions (NAFCU) cheered Congress for passing a measure that President Trump signed on Friday morning. The associations recapped that a bipartisan bill that would give small businesses like dealerships more time to use the funds from Paycheck Protection Program […] [Read More]

Used-car sales remain a bright spot for many dealers, but it could become challenging for them to get their hands on enough pre-owned supply, said panelists in a LotLinx webinar on Wednesday. In a Weekly Market Update distributed Tuesday, LotLinx dissected used-car trends as of Monday night, indicating that there was a slight slowing in […] [Read More]

CarGurus senior editor Matt Smith says the company intends its Best Used Car Awards to help shoppers as they search for a used vehicle. The company aims for its awards to “provide an extra level of trust during their shopping process,” Smith said in a news release. Smith says this year’s winners and finalists are […] [Read More]

Black Book representatives are seeing and hearing a wide array of stories from auctions and dealerships, and the firm gathered up the best ones to include with its latest wholesale pricing information for its latest COVID-19 Market Update released on Tuesday. From only $100 derailing some wholesale transactions to stores getting concerned about inventory — […] [Read More]

UPDATED to include analysis/data from LotLinx. Recapping used-vehicle sales from May shows a bit of a mixed bag. The month appears to have been much stronger than April, but hit a speed bump the final week. There was a 20.7% year-over-year decline in used-car sales the final week of May, according to Cox Automotive. “Like […] [Read More]

Automotive Personnel founder Don Jasensky made his Auto Remarketing Podcast debut, leveraging his 30 years of experience at running his own executive search firm to offer recommendations for dealerships and finance companies welcoming back their furloughed employees as well as for workers who are returning either remotely or in person. The National Automotive Finance Association […] [Read More]

The Japan Automobile Manufacturers Association has invested billions of dollars in the last decade toward convincing U.S. drivers to drive Japanese cars, according to insurance comparison website, Pretected.com. “And it seems like it’s paying off,” Pretected writes in a news release. Basing its information on more than 1 million drivers who were looking to insure […] [Read More]