TrueCar has its official president and chief executive officer. Mike Darrow, who has been TrueCar’s interim president and CEO since May 31, was named to the position Tuesday. Darrow, who has been with TrueCar for three years, will join the company’s board of directors, as well. He took on the interim post last spring, replacing […] [Read More]

The Manheim Used Vehicle Value Index literally is on a record-breaking start to the year. Cox Automotive reported wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.35% month-over-month in February. This movement pushed the index up by 6.2% from a year earlier, leaving the index at a new record high of […] [Read More]

Marc Cannon says AutoNation is grateful to NTT INDYCAR SERIES drivers Alexander Rossi, Jack Harvey, and Ryan Hunter-Reay, along with their teams. “They may be fierce competitors on track, but they’re on the same team when it comes to helping drive out cancer,” said Cannon, who is AutoNation executive vice president and chief marketing officer, […] [Read More]

General Motors has selected MAX Digital, a data-driven software provider for automotive dealers, as a turnkey program provider for its in-Market Retail, or iMR, program. Participating GM dealers can use their iMR funds and receive GM iMR co-op match on their purchase of services from MAX Digital as a turnkey vendor for inventory management with […] [Read More]

AAA reported on Monday that the nationwide average price for a gallon of gas stood at $2.38 with some locations like Texas, Oklahoma and Mississippi approaching the $2 mark. That’s the lowest cost at the pump in more than a year, according to AAA. As a result, Black Book is seeing values for fuel-efficient vehicles […] [Read More]

After an admittedly challenging 2019 for its TradeRev business unit, KAR Global outlined several adjustments to its approach for that digital dealer-to-dealer auction property in an earnings call last month. Among those adjustments: changing the go-to-market strategy for TradeRev, blending the TradeRev and ADESA sales teams and trimming incentives. And in a follow-up interview with Auto […] [Read More]

Byrider returned to stake a claim in the Windy City market with a revamped store about 30 minutes from downtown Chicago. The chain of buy-here, pay-here dealerships recently re-established itself in Bridgeview, Ill. In celebration of the grand opening, Byrider hosted a store event to showcase Bridgeview’s new Byrider store and branding. Village of Bridgeview […] [Read More]

Along with reviewing some of its 2019 metrics connected with the subprime auto asset-backed securities market, Fitch Ratings shared the five factors that analysts anticipate to have an impact throughout the securitization market this year. Analysts described these five factors as a part of its latest report titled, Auto ABS Index: In the Auto ABS […] [Read More]

Two more Manheim locations are now 100% digital, the auction company announced Tuesday morning. Less than a year after Manheim Tucson became the first to use this format, the company has converted Manheim Flint and Manheim Houston to all digital. Through this format, cars are parked in designated spots and sold to buyers both physically […] [Read More]

Dealers certainly are a resilient bunch, but they understand the challenges they currently face as reflected in the Q1 2020 Cox Automotive Dealer Sentiment Index released on Monday. U.S. dealers’ view of the current automotive market remains negative and is mostly unchanged from the fourth quarter. However, dealers see improvements coming in the spring. According […] [Read More]