Liza Myers Borches, chief executive officer and president of Carter Myers Automotive in central Virginia, believes the way dealers wholesale used vehicles is “due for a change.” That’s why her 13-store dealership group turned to ACV Auctions — an app-based, digital dealer-to-dealer marketplace that allows a dealer to offer individual vehicles for sale in real-time, […] [Read More]

Despite the high average sale price of a late-model used Tesla Model S at $68,159, those vehicles sell faster than similar large luxury cars, with an average selling time of 35.5 days, according to a study from automotive research firm and car search engine, iSeeCars.com At the same time, however, among its comparable vehicles, the Model […] [Read More]

It’s a challenge for dealer groups: how to get the right trade-ins to the right rooftops at the right price. The Appraisal Lane says that when a customer with a trade-in is online or in the showroom, dealer groups can access the Enterprise Trade View product from the convenience of their mobile devices in real […] [Read More]

What does the used-car market look like in the first full month of spring? Slower than March, but still above 3 million unit sales for the month, with a seasonally adjusted annualized rate north of 39 million, according to one industry observer. Edmunds is calling for 3.4 million used-car sales this month, which would be down […] [Read More]

Perhaps reinforcing an outline shared during the director’s public appearance just a few days earlier, the Consumer Financial Protection Bureau this week announced changes to policies regarding civil investigative demands (CIDs). The regulator said the actions are designed to ensure CIDs provide more information about the potentially wrongful conduct under investigation.  Consistent with the updated […] [Read More]

Have you ever heard of someone winning a deal and losing a customer at the same time? Winning a trade today is great, but the business of selling cars and getting great trades is quickly becoming more competitive. So how can you create a trade-in process that not only wins deals today, but makes that […] [Read More]

A giant in the rental-car space is now jumping into the vehicle subscription game, too. Enterprise Holdings, parent company to the Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands, is launching what it says is the first subscription service offered by the U.S. car-rental industry. The debut of this service is expected […] [Read More]

“A world where all cars are shared.” That is the vision of car-sharing company, Getaround. The company rents cars by the hour, or the day, with insurance and roadside assistance included. The company is now expanding on that vision with an acquisition that it says combines strengths of both companies to form a global transportation […] [Read More]

This week included a pair of significant, technologically driven moves by the Blue Oval to capitalize on possibilities for electric vehicles as well as cloud connectivity. On Wednesday, Rivian announced an equity investment of $500 million from Ford. In addition to the investment, the companies have agreed to work together to develop an all-new, next-generation […] [Read More]

Wantalease.com noticed Ford reversed many of the “generous discounts” on vehicle leases the Blue Oval offered in March by increasing monthly payments in April. According to analysis shared on Wednesday, site officials noticed the Ford Fusion, Taurus, Escape, Explorer and Expedition all experienced price hikes this month. Wantalease reported the Fusion had the highest increase at […] [Read More]