In normal times, wholesale transaction prices tend to change gradually over weeks and months, and Manhieim Market Report tracks these changes extremely well. But with COVID-19 and the sweeping effects it’s having on the economy and automotive industry, we aren’t in normal times. It’s not surprising, then, that I’ve received numerous inquiries about MMR over […] [Read More]

Saying it is continuing to support U.S. and Canadian dealers as the COVID-19 situation impacts automotive retail, CarGurus will extend its existing 50% discount on all marketplace subscriptions for U.S. and Canadian dealers through May. CarGurus said the move was a continuation of the rate reduction that it announced on March 18, adding that it made […] [Read More]

Along with announcing its annual meeting of stockholders will be held in a virtual format only, Carvana this week welcomed the influx of funding it gathered from investors. Through its previously announced initiative, Carvana said it has raised $600 million from investors in support of continued innovation and growth of what the company deems to […] [Read More]

With healthcare resources and personnel stretched thin, Mayo Clinic in Florida is using autonomous vehicles to transport medical supplies and COVID-19 tests. The Jacksonville Transportation Authority has partnered with autonomous shuttle fleet service provider Beep and autonomous driving systems company NAVYA to use autonomous vehicles to safely transport COVID-19 tests collected at a drive-through testing […] [Read More]

National Automotive Finance Association president Joel Kennedy joined senior editor Nick Zulovich for another episode of the podcast this week to share an update on how finance companies are navigating through the coronavirus pandemic. Kennedy, who also is the chief operating officer of Emerging 8 honoree TruDecision, reinforced the positive outlook he and the NAF […] [Read More]

There is likely to be a shortage of used vehicles some three years down the road, as automakers halt production amid the COVID-19 pandemic, cutting the would-be off-lease volumes hitting the market in 36 months. There could also a supply impact much sooner in the off-rental sector, says Black Book’s Laura Wehunt, who outlined short- and […] [Read More]

Steve Kapusta of Ally's SmartAuction joins the Auto Remarketing Podcast to talk about the platform’s 20th anniversary, its early days and the evolution of the platform and online wholesale at-large. We delve into what perhaps changed the momentum for online wholesale and the importance of customer service and building trust. Plus, Kapusta shares the market need […] [Read More]

As dealers and lenders navigate a constricting market and economic downturn, retaining lease customers is extremely important for those dealers’ and lenders’ profitability, says J.D. Power director of automotive finance intelligence Patrick Roosenberg. “Communication through customer-preferred channels is paramount as dealerships temporarily close and lease customers navigate an unprecedented event, uncertain of their available options […] [Read More]

Technology company Xtime says COVID-19 social distancing measures have created a challenge for day-to-day service department operations and revenue. The company says a dealership’s fixed operations during these times are essential. Xtime, wanting to “help its dealership partners seize the moment,” is offering enhanced resources and multiple features at no additional charge. The company says […] [Read More]

While remaining upbeat about the industry’s long-term prospects, Kerrigan Advisors acknowledged the ongoing tailspin experienced by franchised dealerships when the firm released its latest Kerrigan Index, which is comprised of the seven publicly-traded auto retailers. Through Tuesday, the Kerrigan Index generated a devastating 37.7% decline for the month, more than triple that experienced by the […] [Read More]