Like a roller coaster at a state fair, wholesale vehicle values descended rapidly in October — and the declines were “faster than usual,” according to Black Book. To use another seasonal metaphor to describe the fall, used-car deprecation was “a little spooky” last month, says Cox Automotive. Both firms have released their observations on October’s […] [Read More]

Canada’s zero-emission vehicle rebate is gone. So now what? According to Canadian Black Book’s latest report, The Future of Electric Vehicles in Canada: Market Dynamics After the iZEV Rebate, the market for electric vehicles has taken a step back — but is now more ready to move forward into the future. In the report, CBB […] [Read More]

FAXVIN this week rolled out a significant update to CarRank, its 0–100 vehicle-history metric designed to help shoppers and dealers compare used cars at a glance. The company highlighted the latest release incorporates additional data sources and methodology refinements that are geared to improve how risk signals are weighted across title brands, odometer consistency, accident […] [Read More]

When you hear the name “Carson,” you might think “famed TV host” (Johnny or Daly). Or “football-flinging quarterback” (Palmer, Wentz or Beck). Cars Commerce, the parent company of Cars.com, wants you to think “AI search engine.” On Thursday, the company announced the launch of its own “Carson” — and this one is a multilingual search […] [Read More]

Vitu began the year by successfully closing its acquisition of the Dealertrack registration and titling businesses from Cox Automotive. And the innovator in vehicle-to-government (V2Gov) technology is rounding out the year with another acquisition. Vita announced on Friday that it has completed the acquisition of Decision Dynamics (DDI Technology) from IAA Holdings, an RB Global […] [Read More]

Lender Compliance Technologies (LCT) said Thursday it secured “an important milestone for the industry” in connection with its Refund Control platform. The provider of a tool for managing voluntary protection product (VPP) cancellations and refunds announced that its platform fully aligns with new VPP refund quote portal minimum standards recently approved by the Guaranteed Asset […] [Read More]

Kinetic Advantage provided a dealer floorplan for the first time on Nov. 5, 2020; a point when the pandemic seemingly impacted every part of the car business and beyond. It’s five years later and Kinetic Advantage not only remains in the floorplan business, but it’s recently gained momentum with an investment from The Carlyle Group […] [Read More]

The automotive industry continues to evolve at a remarkable pace. Every operator, from independent dealerships to large retail groups, is challenged to run leaner, think strategically, and protect enterprise value. The same holds true in the wholesale auction sector, where efficiency, transparency, data discipline, and optimizing use of technology now determine who leads and who […] [Read More]

At Canadian auto auctions, October ended with a thud. A sale at an auction was very much an exception last month, according to Canadian Black Book’s weekly Market Insights reports, as the average monitored auction sale rate plummeted below 30% in each of the month's last three full weeks — including a miniscule 22.1% conversion […] [Read More]

OpenRoad Auto has turned on to a new road — one that leads to Ontario. The Richmond, B.C.-based dealership group announced it has acquired a majority share in NewRoads Automotive Group in what OpenRoad called a “strategic merger,” significantly expanding its footprint in Ontario. The transaction for an undisclosed amount brings NewRoads’ eight dealership locations […] [Read More]