If consumers aren’t securing a lease from a franchised dealership as much because of the coronavirus pandemic, they might be using alternatives to land a vehicle lease, based on the newest information from Experian and Swapalease.com. Experian’s latest State of the Automotive Finance Market Report showed a decrease in leasing year-over-year, with 24% of new […] [Read More]

KAR Global has launched an online suite of interactive dashboards providing data and insights into the retail and wholesale used-car markets. Powered by KAR’s data science and analytics platform DRIVIN, the site includes interactive maps and graphs that allow users to access aggregated trends or more specific statistics into the retail and wholesale markets. KAR […] [Read More]

The coronavirus pandemic continues to intensify one of the basic principles of economics. Dealer demand for inventory is growing, but supply at the auction still isn’t back to the level seen before facemasks, stay-at-home orders and other COVID-19 connected elements became commonplace. The new COVID-19 Market Update from Black Book released on Tuesday described the […] [Read More]

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]