The used electric and hybrid vehicle market was already set to benefit from a boost in supply. Now, the recent surge in fuel costs has led to greater demand, higher prices and quicker turn times for these vehicles. And significant increases in sales. Citing the U.S. Energy Information Administration, Cars Commerce said in its April […] [Read More]

Along with the company reporting double-digit-percentage gains in overall revenue, net income and adjusted EBITDA, OPENLANE’s marketplace unit sold 19% more vehicles in the first quarter than it did a year ago, with both dealer and consignor sales thriving. OPENLANE is already seeing a lift from increased lease returns, a trend it expects to continue […] [Read More]

Artificial intelligence in auto retail, says Zeigler Auto Group chief operating officer Sam D’Arc, is in a similar place as digital retail was 4-5 years ago. There’s a lot of excitement, but perhaps not a complete understanding of how AI should be deployed at dealerships. “There is a ton of solutions out there. There are […] [Read More]

Sam D’Arc doesn’t remember what his query was when he first used ChatGPT, but the response was fast and accurate. “It caused a little bit of awe and surprise in how well it extracted information into the answer to the question,” said D’Arc, who is chief operating officer of Zeigler Auto Group in Kalamazoo, Mich. […] [Read More]

A growing percentage of consumers now use artificial intelligence as what marketplace Cars.com describes as a “trusted co-pilot” in their search for a vehicle to purchase. Meanwhile, other studies suggest that dealership websites are not visible to many of those AI-driven search engines. That means customers are routed through third-party aggregators rather than directly to […] [Read More]

About a year ago, Sonic Automotive announced that its EchoPark Automotive used-car program had secured naming rights to what was then Atlanta Motor Speedway. The move was seen as a natural fit, given the family lineage of and ties between Speedway Motorsports — which owns the track — and Sonic. EchoPark Speedway, as the Hampton, […] [Read More]

ACV started as a digital auto auction marketplace in 2014, but in the dozen years since, it has expanded by acquisition and development to include a bevy of additional services for dealers. Including inventory management. ACV bought MAX Digital in 2021, a move that allowed ACV to offer dealers inventory and pricing guidance as well […] [Read More]

The six publicly traded car dealer groups have released their first-quarter operating results in recent days, and with that, Auto Remarketing is recapping how the used-car department fared at each retailer. We continue with the second of three parts of the analysis, recapping the results at Lithia & Driveway and Penske Automotive Group. The opening installment included […] [Read More]

While much of Carvana’s recent quarterly update focused on its record-setting retail performance, founder and CEO Ernie Garcia also highlighted the positive steps of the company’s wholesale business. Especially ADESA Clear, the digital wholesale auction product of Carvana’s auto auction subsidiary. The platform rolled out in late 2023 and grew regionally in 2024 and the […] [Read More]

The six publicly traded car dealer groups have released their first-quarter operating results in recent days, and with that, Auto Remarketing is recapping how the used-car department fared at each retailer. We’re breaking this recap up into three parts, starting with AutoNation, Asbury Automotive Group and Group 1 Automotive. AutoNation boosts sales of late-model units […] [Read More]