KAR Global made another move late on Tuesday to help dealers navigate through the challenges of the coronavirus pandemic. Business unit Automotive Finance Corp. (AFC) immediately launched its customer relief program as eligible customers can choose to defer curtailment payments due through May 31 on eligible unsold units, including principal, fees and interest on those […] [Read More]

NextGear Capital is offering a relief package to support independent dealers during the COVID-19 crisis. Among those measures are base rate reduction by 50 basis points, deferred curtailment and extension payments for eligible floorplan advances and no late fees. Company president Scott Maybee stated in a letter to the dealers that he hoped the measures “can […] [Read More]

According to a new study measuring the usefulness of U.S. automotive third-party websites during the process of shopping for a new or used vehicle, Autotrader and Kelley Blue Book rank highest in a tie in the desktop segment, with a score of 790 out of 1,000. But according to the J.D. Power 2020 Automotive Website […] [Read More]

The first month of 2020 was the strongest January for the certified pre-owned market in a decade. February then beat those sales by 10%. That’s according to Monday’s Data Point report from Cox Automotive, which, citing Motor Intelligence, said there was 238,229 CPO sales in February. That beats year-ago figures by 13% and puts year-to-date […] [Read More]

Visits to electric vehicle segment websites were up 92% last year, according to research released by Comscore earlier this month, and the upswing was especially strong for Rivian Automotive. Website visits for the automaker were up 296% year-over-year in 2019, with Rivian’s first vehicle announcement (R1S) generating substantial interest, according to Comscore. No other automaker […] [Read More]

As the potential coronavirus impact continually grows, a wide swath of industry associations representing dealerships and repair shops are urging federal, state and local officials to consider the importance of motor vehicle supply and repair facilities in implementing orders to close nonessential businesses as a result of COVID-19.  The actions began with John Bozzella, president […] [Read More]

The rise of e-commerce has enabled companies to better understand consumer behaviors in the digital age and reevaluate their marketing spend to provide a more personalized shopping experience. This situation is illustrated in the following example. Consumer No. 1 opens website A and the products advertised to them are not of interest, so they exit […] [Read More]

Cherokee Media Group responded to guidance from local and federal health experts as well as other event orchestrators about the increased risk associated with COVID-19 and rescheduled the Automotive Intelligence Summit; the in-person conference bringing together leading executives and entrepreneurs to discuss ideas and trends associated with mobility and connectivity, fintech solutions and digital retailing. […] [Read More]

Used-vehicle sales climbed more than 4% last month, but the market may only be warming up. Analysis from Cox Automotive indicates there was a tax refund-fueled “liftoff” in the used-car market during the first week of March, with retail sales climbing more than 30%. “The seasonal sales jump has been slower to happen as a […] [Read More]

Dealers certainly are a resilient bunch, but they understand the challenges they currently face as reflected in the Q1 2020 Cox Automotive Dealer Sentiment Index released on Monday. U.S. dealers’ view of the current automotive market remains negative and is mostly unchanged from the fourth quarter. However, dealers see improvements coming in the spring. According […] [Read More]