AutoNation had some solid wins in its used-car operations during the second quarter, including a “healthy” supply of pre-owned units within the dealer group, stable profitability and expectations for off-lease growth in the second half. During an earnings presentation last week, AutoNation CEO Mike Manley said the retailer continues to post strong sales of used […] [Read More]

Lotlinx has a new president and chief financial officer. Appointed to the role is George King III, who has more than 25 years of leadership experience at Fortune 500 companies and in the global investment banking industry. His most recent post was on the executive leadership teams of both Alcoa and Carrier Global. King’s experience […] [Read More]

Yotta Automated Software Solutions (YASSI) is making a notable announcement per week nowadays. The pattern continued Monday when the provider of real-time vehicle and title data infrastructure for the automotive, insurance, and lending industries introduced VIN360. YASSI highlighted VIN360 is a new intelligence layer that can analyze the full history associated with a single VIN. […] [Read More]

United Auto Exchange has earned Auction of the Year honorees from Bridgecrest, the Memphis, Tenn.-based auction company said in a news release last month. UAX said the award spotlights its “commitment to delivering dependable service, strong results, and a consistently positive auction experience for Bridgecrest and its dealer customers.” UAX general manager Brandon Derrick said […] [Read More]

It’s a Texas three-step. Clay Cooley Auto Group has acquired a trio of franchise stores — Norm Reeves Mazda, Hyundai and Genesis in Irving, Texas — from The CAR Group, according to a news release from Pinnacle Mergers & Acquisitions, which advised the seller. The acquired stores will operate as Clay Cooley Mazda, Hyundai and […] [Read More]

Perhaps your July auto financing and retailing activity rounded out with some deals coming together via a trade that included positive equity. Those deals might have included some of the models that Edmunds highlighted recently that created a new record for the average amount of positive equity in trade-ins toward new-vehicle purchases during the second […] [Read More]

The July installment of the Automotive Industry Market Pulse from Equifax included multiple noteworthy trends connected to subprime auto financing. Equifax reported total outstanding auto debt reached $1.7 trillion in May, representing a 2.4% increase year-over-year. Pushing the figure higher was a 14.9% surge in the subprime share. While total account volume grew slightly by […] [Read More]

Spyne is already thinking about 2027 when it comes to artificial intelligence used at dealerships. According to Spyne’s latest Auto Retail Intelligence Quarterly report, experts projected a “pivotal shift” in AI use next year, saying “those that embed AI within connected systems linking customers, vehicles, and deals will outpace dealerships relying on isolated AI tools. […] [Read More]

Nine months after launching in October, Lokam.ai said it is growing 45% month-over-month with zero customer churn. And charged with sustaining that momentum is industry veteran Jason Kozak, who was hired on Thursday as sales director for the voice-first artificial intelligence platform designed help car dealerships with sales and service follow-up. The momentum also follows […] [Read More]

David Andrews not only is chairman and CEO of Dealers Auto Auction Group, which currently has 10 auctions located primarily in the Southeast, he’s also the CEO of City Auto Sales, which has two used-car retail locations in Tennessee. Andrews says in an online video about his retail operation, “We started City Auto in 1986, […] [Read More]