AccuTrade has hit the accelerator. Cars Commerce’s “instant appraisal engine” took a leap forward in the first quarter of 2024, CEO Alex Vetter said during the company’s recent earnings call, growing to just under 1,000 accounts and generating more than 622,000 appraisals in that span. And that growth was a key piece in Cars Commerce’s successful Q1, which ended March 31. Overall, the company reported ... [Read More]

Artificial intelligence is everywhere these days. Now it’s coming to the auto dealership buy-sell market. Retail automotive advisory firm Dave Cantin Group has launched an AI-powered data-mining software designed to provide data-driven valuations for U.S. new-car dealerships, regardless of brand, location or direct input from the dealership. DCG said its proprietary software takes in more […] [Read More]

If you’re like me, you probably have a favorite television show or movie you repeatedly watch over and over and over again. Mine is The West Wing. The writing is phenomenal. The acting is outstanding. And, as you might know, I love politics. An episode titled “Constituency of One” follows deputy chief of staff Josh […] [Read More]

Inventory management remains critical for auto retailers today in determining profitability, customer satisfaction, and operational efficiency. The traditional methods of inventory management, reliant on manual processes and intuition, are proving inadequate in the face of rapidly evolving consumer preferences, market fluctuations, and the complexities of the automotive industry. To thrive in this competitive landscape, auto […] [Read More]

Edmunds director of insights Ivan Drury highlighted multiple tailwinds that could help the retailing of used cars. What could be most beneficial for dealerships of all stripes is getting a boost of older, more affordable vehicles. Drury cited a variety of positive data points as reasons why via his analysis of the first quarter. “The […] [Read More]

The most stolen vehicles in America are no longer trucks. In part as a result of social media videos showing how to steal Kia and Hyundai vehicles, cars from those manufacturers have jumped to the top of the list of America’s most stolen vehicles, compiled annually by the National Insurance Crime Bureau. Six of the […] [Read More]

Vroom, which completed the winddown of its ecommerce operations and used-car retail business in the first quarter, detailed the financial results of its Q1 on Friday and provided some color on the state of its remaining United Auto Credit and CarStory business units. The company reported a $44.7 million net loss from continuing operating in […] [Read More]

With hurricane season approaching, FloodFlash has added a new technology-driven insurance program intended to support dealerships and rental businesses unable to get flood coverage due to high-risk locations or previous flooding. The insurance technology company’s Dealer Open Lot program offers sensor-enabled parametric flood insurance, with a smart sensor installed on the lot or insured property […] [Read More]

The number of battery-electric vehicles sold at auction through April is nearly double the amount sold in the first four months of 2023, and prices for EVs have declined at a faster rate than the overall market. That’s according to respective wholesale car market analyses by the National Auto Auction Association and Cox Automotive. NAAA’s […] [Read More]

Auto haulers crisscross the American kaleidoscope of highways and interstates, but the vehicle transport and logistics space took to a new route this week: Wall Street. Proficient Auto Logistics said Wednesday it priced its initial public offering at $15.00 per share, with the 14,333,333 common stock shares in the IPO expected to generate total gross […] [Read More]