While not divulging the specific operator, First Business Bank on Monday announced the closing of a $6 million inventory floorplan line of credit for an independent dealer through its floorplan financing group. However, along with acknowledging the store is in Illinois Jeff Widholm, managing director of floorplan financing at First Business Specialty Finance, a subsidiary […] [Read More]

“What a difference a year can make.” Perhaps that statement has never been truer than in the past year. The COVID-19 pandemic created some seismic shifts in car shopping and buying, and the auto industry had to pivot quickly to keep up with the changes. Now, a year since the world turned on its head, […] [Read More]

In this special sponsored episode of the Auto Remarketing Podcast, LotLinx chief revenue officer Bill Reidy and Lance Schafer, the company’s general manager of product and technology, discuss what it means for dealers to be “VIN-aware” and how it can help stores stay competitive. To hear the conversation, click on the link available below, or visit […] [Read More]

Editor's Note: This is a special preview, available only to CMG Premium subscribers, of Auto Remarketing's "Beyond the Transaction" special supplementary issue. The pandemic impacted much of the automotive space, from how vehicles are retailed to the ways consumers are securing financing. What hasn’t changed, however, is the importance of a dealership’s F&I department, a store segment that […] [Read More]

Editor's Note: This is a special preview, available only to CMG Premium subscribers, of Auto Remarketing's "Beyond the Transaction" special supplementary issue. Scott Johnston said capacity constraints are a top issue in the vehicle transportation industry today. Putting it simply, that means too many vehicles to move. “And not enough transport trucks to move them,” said Johnston, who […] [Read More]

Editor's Note: This is a special preview, available only to CMG Premium subscribers, of Auto Remarketing's "Beyond the Transaction" special supplementary issue. Many companies have seen significant changes in how they operate because of the pandemic, and Cox Automotive Mobility is no exception. The company’s associate vice president of product Jim Heffner said consumers coming in for servicing […] [Read More]

For a used-car shopper, figuring out if a specific vehicle will be dependable can be tricky. In fact, the recent CarGurus Reliability Survey found that just over half (51%) believe determining the reliability of a pre-owned vehicle is “easy.” With that in mind, there are factors that used-car shoppers consider when thinking about vehicle reliability, […] [Read More]

Automotive marketers, dealers and lenders today are focusing their customer engagement strategies on data more than ever. However, how — and what — data can be leveraged requires close attention. Google has announced plans to stop tracking cookies in its Chrome browser by 2022. And, Apple has announced that, as part of the iOS 14 […] [Read More]

Certified pre-owned vehicle sales in 2021 have come out of the gate surging ahead of the record pace set two year ago. In 2019, which was the strongest year ever for the certified pre-owned vehicle market, there were 910,578 CPO sales in the first four months of the year. The first four months of 2021 […] [Read More]

Even during this time of new-model inventory scarcity, recent research by Cox Automotive showed how adamant about purchasing a new vehicle some consumers remain instead of considering the delivery of a certified pre-owned model or other used vehicle. Cox Automotive recently reported that 77% of new-vehicle intenders surveyed at the end of April are staying […] [Read More]