In some places, the coldest temperatures in months have been recorded recently. Some locations already are seeing snowflakes. And wholesale prices are cooling too, according to Black Book. Anil Goyal, executive vice president of operations for Black Book shared in the newest edition of Market Insights that, “Last week, used-car values experienced the highest depreciation […] [Read More]

Skeptics of the vehicle subscription model may, in fact, be right to pose questions about how the segment is addressing some very important concerns. Many of those questions came to light during a keynote presentation from auto industry consultant Maryann Keller at the Automotive Intelligence Summit in July, and later recapped in Part I and Part II […] [Read More]

It’s been great for 28 … years at Motley’s Richmond Auto Auction. The operation recently celebrated its 28th anniversary with a promotional event that offered more than 700 vehicles consigned and more than 70 percent sold. “This was another all-time record for the auction. We had more than 500 registered dealers in attendance for the […] [Read More]

Auction123 has enhanced its dealer website and inventory management solutions, as well as its automated marketing tools for sites like Facebook Marketplace, Craigslist and eBay with vehicle-specific pricing information for Carfax Advantage dealers. The company highlighted those dealers now can compare their pricing with the Carfax history-based values for units in inventory. Using Carfax information combined […] [Read More]

More valuable intelligence for your dealership’s service drive arrived on Tuesday. Vincentric released an in-depth update to its vehicle maintenance data with additional detail added to its automotive cost-of-ownership database. The latest enhancement includes costs for more than 400 services per vehicle with more detailed estimates of parts pricing, labor times and labor rates for light-duty […] [Read More]

Federal prosecutors recently landed a conviction involving a trio operating an elaborate auto-finance fraud arrangement in North Carolina. Andrew Murray, U.S. Attorney for the Western District of North Carolina, said a federal jury in Charlotte returned a guilty verdict against Kimberlie Flemings of Mt. Holly, N.C., for her role in a $1 million fake auto-finance […] [Read More]

An announcement from the Credit Union National Association (CUNA) detailed how buy-here, pay-here dealers in two states might see more competition from a specific credit union. The organization indicated the Community Development Financial Institutions (CDFI) Fund orchestrated by the U.S. Department of the Treasury awarded Cutting Edge FCU (CEFCU) a $600,000 in grant funding to […] [Read More]

The volume of consumers without a bank account is now at an all-time low. For the third consecutive survey period, the number of U.S. households without a bank account fell, according to the results of the 2017 biennial National Survey of Unbanked and Underbanked Households released by the Federal Deposit Insurance Corp. (FDIC). Officials reported […] [Read More]

Another publicly traded dealer group has made a significant investment in the online car sales space. AutoNation said Tuesday it has obtained roughly a 7-percent ownership stake in Vroom after a $50 million strategic investment in the online car retailer. “We are excited about our investment in Vroom and the potential collaboration between our companies,” […] [Read More]

Ally Financial has jumped into NASCAR, partnering with Hendrick Motorsports and linking up with one of the sport’s most recognizable and successful figures. Ally will be the primary sponsor of Jimmie Johnson’s No. 48 Chevrolet Camaro ZL1 team for the entire 2019 and 2020 seasons. Johnson has won seven NASCAR Cup Series championships, tied with […] [Read More]