The used-car market continues to be a bright spot for franchised dealers, particularly for two public dealer groups sharing operational updates this week. Lithia Motors said Tuesday it generated around a 23% year-over-year spike in same-store used-vehicle unit sales during June, which was a record month in pre-owned for the retailer. Same-store new-vehicle sales were […] [Read More]

On Tuesday, IAA made its third move during the past two weeks in connection with its operations in the United Kingdom. The newest action is connected with IAA announcing that its U.K.-based business unit has completed the roll-out of IAA Buyer Portal, a new purpose-built and exclusive digital auction site designed to offer buyers an […] [Read More]

Turner Acceptance is bringing on some technology reinforcement to help the subprime auto finance company navigate its way through underwriting during the coronavirus pandemic. This week, Turner Acceptance finalized a strategic partnership with TurboPass to leverage its universal income validation solution and find more details about consumers’ ability to pay on that retail installment contract. […] [Read More]

Manheim Canada announced last week that it would be launching a service to disinfect and treat vehicles sold through the company’s simulcast auctions to help prevent customer exposure to COVID-19 and other viruses. The Manheim Vehicle Disinfection Service started June 29 and is available at all of the company’s auctions throughout Canada. The service uses […] [Read More]

Allegations triggering a consent judgment surfacing back in May involving an Arizona independent dealership and the state’s attorney general could serve as a stern reminder of what compliance expert Randy Hendrick suggested to operators, especially when retailing vehicles classified “as-is.” Among the seven deceptive practices alleged by attorney general Mark Brnovich against Dependable Auto of […] [Read More]

The coronavirus pandemic is accelerating consumers’ recognition of more favorable financing terms in connection with used vehicles among other benefits of acquiring a pre-owned model instead of a new car. That’s among the latest findings shared on Tuesday by Edmunds, which asserted that current unique market conditions due to COVID-19 could be driving more consumers […] [Read More]

KAR Global announced three leadership promotions across its wholesale-market enterprise on Tuesday morning. The new appointments include Mike Caggiano as executive vice president of U.S. operations at ADESA, Scott Meyer as vice president of reconditioning services and finance at ADESA, and Richard Carpentier as head of inspection solutions at KAR Global. In explaining the moves, […] [Read More]

ACV Auctions has reeled off two straight months of best-ever sales for the digital auto marketplace, while also notching several other milestones in June. In May, ACV sold 31,350 of 45,000 unique wholesale units listed, then followed that up by selling 40,242 of 53,000 units in June. “It’s now apparent that the shift to digital […] [Read More]

In this episode of the Auto Remarketing Podcast, Cherokee Media Group president Bill Zadeits chats with Copart vice president and head of marketing Michelle Hoffman and Yoker Vidal, who is the senior director for Copart's non-insurance division. They discuss how being online for 17 years helped the company once COVID-19 hit and how Copart has […] [Read More]

While no financial endeavor is invincible, it turns out the brand and business acumen of actor/producer Mark Wahlberg might be the perfect storm for success in the auto industry. It was announced Monday that Wahlberg and his business partner, car dealer Jay Feldman, have purchased a Buick-GMC store and an RV/Airstream store in Columbus, Ohio that are across […] [Read More]