Overall wholesale vehicle volumes are expected to increase more than 7% this year before dipping slightly in 2025 then resuming a climb toward an annual pace of 12 million units, according to a Cox Automotive forecast. The company projects 11.4 million wholesale units this year, up from 10.6 million in 2023, when volumes rose 19.1% from the trough of 2022. Cox Automotive anticipates a slight dip to 11.3 million in 2025, followed by increases the next four years, with the wholesale market reaching 12.1 million by 2029. And much of that will continue to ... [Read More]

he used-car business is tough for many dealers these days. Volume is down across the board. Economic conditions are far from ideal, and consumers are feeling anxious. The competition to acquire the right kind of inventory is intense. Steven Toyota isn’t immune to that pressure, but its used-car business is thriving thanks to ... [Read More]

The U.S. Marine Corp. might not be an official training institution for the auto-finance industry. But John Messiha used it nicely to become an executive with Bank of America, Capital One, Goldman Sachs, Uber and Bridgecrest Acceptance. “The first goal is mission accomplishment. Then the second goal is troop welfare. And you can’t do one […] [Read More]

The HGregoire dealership group is on a bit of an expansion spree lately, but not in Canada. Its most recent additions have been in the U.S., where is goes by HGreg. Its expansion strategy is similar in the U.S. and in Canada, John Hairabedian, president and CEO of HGreg, said. “We continue to find the best opportunities to expand in all markets across both borders,” he told Auto Remarketing Canada. Its U.S. expansion strategy this year has ... [Read More]

Kiosk exhibits from electric vehicle charging, cybersecurity, EV fleet, artificial intelligence, autonomous vehicles and robotics companies lined the Startup Village in MOVE America’s convention center space in Austin, Texas. Conference speakers flanking the exhibition space discussed topics like vehicle connectivity, electrification and autonomy. The MOVE America conference, held last month at the Austin Convention Center, was a microcosm of [Read More]

An out-of-state customer tried to buy a used BMW over the phone from Baumann Auto Group. When the buyer’s credit application came through, Baumann had the buyer take a photo of their driver’s license using QuickScan, a document authentication software from 700Credit. The software informed Baumann that not only did the would-be buyer not live […] [Read More]

Mere Rangel is the assistant general manager at Big Valley Auto Auction in Donna, Texas. But more importantly, he has been his daughter’s softball coach for 14 years and his son’s baseball coach for the past four years (with a decade more to enjoy, he says). And when he steps off the diamond and into the auction lanes, he’s got a coach of his own in general manager Lisa Franz, the leader of Big Valley Auto Auction, and a five-star ace of a teammate in Blanca Arias, the auction’s controller. Together, they form quite the bullpen of leadership at the auction ... [Read More]

Holly Vollant has the toughness it takes to be a winner. She started her remarketing career at a small independent auto auction across the street from where she grew up. She took a hands-on approach to “dive into every aspect of the business” from parking cars to transporting them. Vollant has worked her way to leadership roles at Holman and with industry associations. But she’s also a small business owner, running her family-owned fish hatchery. Hailing from a small town in Northwest Pennsylvania, Vollant thrives in the outdoors and loves football – arguably the grittiest of American sports. And, hell, her favorite team is the Philadelphia Eagles ... [Read More]

When her phone rang at the end of an auction sale last month, Debbie Stokes was in no mood to answer it. “I’m like smack dab in the middle of doing everything,” she recalled. “I look at my phone and it’s showing a number I didn’t have saved. “I’m like, ‘I don’t know who this is. Do I answer or do I not?’ Well, if I don’t answer I’m just going to have to call it back anyway, so I might as well just get this over with.” That turned out to be the right call ... [Read More]

After a rough first quarter, CarMax saw its net income surge in the second quarter despite a slight slowdown in sales revenue. The behemoth used-car retailer also boosted the amount of inventory it acquired, especially from dealers.    “We're pleased with our team's execution in the second quarter, as we achieve positive sales trends, strong margins, cost efficiencies, and EPS growth, while managing through industry-wide auto loan loss pressure,” CarMax president and CEO Bill Nash said during the earnings call. Net income in the second quarter ... [Read More]