Toyota earned Best Resale Value: Brand honors from Kelley Blue Book for the sixth time in the last nine years, and corporate sibling Lexus won Best Resale Value: Luxury Brand for the third time overall. On Monday, KBB released its 20th annual Best Resale Value Awards, which spotlight the 2022 model-year vehicles expected to retain […] [Read More]

As electric vehicle owners are becoming more satisfied with at-home recharging capability, more consumers are financing the acquisition of an EV. But as these trends continue, at least one expert is cautious about the capacity of the U.S. power grid to handle EV charging to go with the demands already placed on it because of […] [Read More]

Following its acquisition of America's Auto Auction, XLerate Group has brought the Auction Credit Enterprises (ACE) and XL Funding (XLF) floor plan finance companies under common leadership. XLerate — which is the parent company of America’s Auto Auction and XLerate Auctions, Liquid Motors as well as the two aforementioned floor plan providers — has named […] [Read More]

It’s a bit of a Catch-22 for franchised dealership service departments these days. The number of repair orders continues to slow, but the amount of revenue a franchise dealer generates on each repair continues to break records. That’s according to a report Tuesday from Cox Automotive that examines service department data from its Xtime subsidiary. [Read More]

Some good news-bad news for dealerships’ used-car operations. Sales are somewhat soft, but supply is improving — in fact, days' supply of unsold retail used vehicles is at its highest level in more than a year, according to Cox Automotive. [Read More]

The automotive topic de jour — low vehicle supply, driven by a chip shortage, among other factors — is certainly at play in the iSeeCars.com list of fastest-selling used vehicles in January. But there’s another major macro-economic driver leading to many of these cars flying off dealer lots: good ol’ fashioned high gas prices. The […] [Read More]

A new department several months in the making now is a part of NextGear Capital. To strengthen its business relationships with the auction partners that support the inventory needs of its independent dealer clients, NextGear announced on Wednesday that has created an auction services department. The company explained through a news release that planning for […] [Read More]

Alternative forms of used-car retailing were on full display Sunday night during Super Bowl LVI, with Carvana and Vroom both showcasing advertising spots. Now another relatively new business model in the pre-owned space — consignment-to-retail used-car marketplace CarLotz — is making some advertising waves. The company said Tuesday it has launched new marketing for the […] [Read More]

Tight supplies and more competition for a shrinking pool of cars. That’s the story in the wholesale vehicle market these days Auto auctions had approximately 227,000 sales of vehicles up to 8 years in age last month, which was down nearly … [Read More]

Friendemic analyzed more than 52,000 reviews posted online by CarMax and Carvana customers, with the goal of understanding how consumers rate and describe their experience when engaging with these retailers. The online reputation solution provider built specifically for the needs of the automotive and powersports industries discovered many customers greatly enjoyed their experience with CarMax […] [Read More]