The movement in wholesale vehicle values for July varied from index to index, but in general, prices are down from a year ago, though they remain elevated from pre-pandemic levels. Starting with Black Book, its Used Vehicle Retention Index came in at 145.0 for July, which was down 1.1% month-over-month and off 15.2% from July […] [Read More]

Logan Green, co-founder and chairman of Lyft, has joined venture capital firm Autotech Ventures as a venture partner. In a news release, Autotech said Green’s “experience in leading Lyft from inception through hypergrowth and his vision for more equitable and efficient transportation solutions will be invaluable” as Autotech continues to identify and support startups in […] [Read More]

Chaiz, an Austin, Texas-based startup that provides a comparison marketplace for extended car warranties, announced an oversubscribed $3.7 million seed funding round on Wednesday. Leading the round is ResilienceVC, with participation from Anker Capital, Automotive Ventures, Everywhere Ventures, FJ Labs, Monte Carlo Capital, Never Lift Ventures, RedBlue Capital, and Springtime Ventures. Chaiz’s prior investors include […] [Read More]

Full acknowledgement that a good portion of the data-driven updates Cherokee Media Group published on Tuesday contained negative subjects, with a discussion about the possibility of a recession already happening as well as another notable increase in bankruptcy filings. Well, here’s some more upbeat news courtesy of Black Book, which shared its expectations on Tuesday […] [Read More]

Virtually every auto dealer knows data is a powerful tool for their business. They’re just not quite sure how to use it. That’s perhaps the biggest takeaway from Cox Automotive’s 2024 Power of Data study, released this week. The surveys of 393 franchise dealers and 191 dealership managers found a large majority of dealers — […] [Read More]

In almost every conversation I’ve recently had regarding the future of the electric vehicle market — specifically, battery electric vehicles — there is a passionate stance for one side of the argument or the other. Either, “Everyone will have one soon,” or, “It’s a fad and I’ll never have or sell an EV.” The conversations […] [Read More]

Perhaps it’s jumping to conclusions, but the only segment in Black Book’s tracking to squeeze out a wholesale value uptick last week might relate to vehicles in position to solve one of the pressing current challenges to get cars financed and retailed. Cox Automotive chief economist Jonathan Smoke said last week that “retail vehicle demand […] [Read More]

It hasn’t had quite the swings of, say, electoral politics in the past decade (or past month). But the ups and downs of used-vehicle prices in the last five years might rival the volatility of any other industry. According to the latest Industry Insights Report from Cars Commerce, the monthly average list price for used […] [Read More]

Auto dealerships face a perpetual challenge: balancing inventory to meet customer demand without overstocking, which can lead to carryover inventory. Carryover inventory — vehicles that remain unsold for extended periods — ties up capital, incurs holding costs, and often requires discounting and markdowns to clear off the lot. This scenario impacts profitability and creates a […] [Read More]

Affordability is an issue car dealers have been battling daily over the past couple of years as retail prices for used and new vehicles soared to unprecedented highs. This year, though, those prices have been falling steadily while, as noted by Cox Automotive’s analysts in their 2024 midyear review, consumers’ incomes are rising. And yet sales growth has been slow. Turns out it’s not just about the price of the car ... [Read More]