Shift has lined up a new $100 million floorplan facility with Ally Financial, the automotive ecommerce provider said Monday. The deal expands the companies’ existing relationship. The two-year term on the facility expires Dec. 9, 2023. “Our business is rapidly scaling, with 2021 sales expected to more than triple compared to 2020. As a result, […] [Read More]

Used vehicles, in general, are pricier these days, fetching nearly 28% higher prices than they did a year ago, according to iSeeCars.com And some models are seeing prices soar even higher than that. [Read More]

UPDATE: Cox Automotive has updated its reporting of November used-car sales figures, based on registration data not previously available.  The company now estimates there were a shade under 3 million total used vehicles sold in November, which beat year-ago figures by 3%. The total used-car SAAR was projected at … [Read More]

Selly Automotive founder & CEO Zach Klempf joins the show to discuss how independent dealers are faring in what has been a rather unique retail auto environment, and how they're using tech and innovation to combat challenges. Plus, he shares the importance of utilizing CRM and automation services. To listen to the conversation, click on the […] [Read More]

On the auction block, on the dealer lot and in the consumer’s driveway: used-car prices are going up, and in some cases, breaking records. Starting on the wholesale side of the market, the Black Book Used Vehicle Retention Index, which was released Monday, has now reached a record high for three straight months. Coming in […] [Read More]

Rich Levene spent more than a decade in various executive roles within the wholesale market. Then a little more than a year ago, Levene started his own firm, Dignity Leadership Consulting, which helps its clients develop strategic, profit-generating, high-production teams. Levene discussed how individuals new to the automotive business as well as industry veterans can […] [Read More]

In another Auto Remarketing Podcast episode recorded in person during Used Car Week, DRN | MVTRAC president Jeremiah Wheeler returned to share insights about what the newest company data is showing. Wheeler touched on how transient people still are as well as how license-plate recognition data is continuing to help find vehicles that need repairs […] [Read More]

This week, industry veterans Brian Reed, Steve Greenfield, Andrew Gordon and Pete Batten formed a team they’ve called Automotive Market Data. And the team launched what it believes is the first-ever digital retailing market share database to inform dealers, investors and vendors — in real-time — about the automotive digital retailing landscape. According to a […] [Read More]

Sonic Automotive’s $700 million deal to purchase RFJ Auto Partners, announced in September, is the Charlotte, N.C.-based retailer’s largest acquisition ever and among the retail auto industry’s most significant transactions to date. But beyond the additional revenues and expanded geographic footprint from adding RFJ Auto — which are outlined in this previously reported story — […] [Read More]

In an Auto Remarketing interview late last month, Sonic Automotive chief financial officer Heath Byrd was discussing the M&A landscape in auto retail, and said that, “other than shortage of inventory in new, there's probably not a better time in our lifetimes to be in automotive retail.” He added: “And even (with) the shortage, we've […] [Read More]