The wholesale price movement both Manheim and Black Book spotted to round out 2018 continued into their analysis of January data. Beginning with Manheim, the company determined wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) decreased 1.62 percent month-over-month in January, representing a softening for the third month in a row. This move brought […] [Read More]

Dealerships, especially ones located in the Southeast that have business relationships with SunTrust Banks and BB&T Corp., soon will be working with just one financial institution. The banks announced on Thursday that both companies’ boards of directors have unanimously approved a definitive agreement to combine in an all-stock merger of equals valued at approximately $66 […] [Read More]

Bankruptcy filings jumped on both a year-over-year and month-over-month basis to begin 2019. According to data provided by Epiq Systems, the American Bankruptcy Institute reported that U.S. bankruptcy filings increased 11 percent in January from December. Officials said bankruptcy filings totaled 57,618 in January, up from the 52,037 total filings registered in December. Consumer filings […] [Read More]

How fintech is going to be the technological solder that binds dealerships, finance companies and consumers into an even stronger relationship permeated discussions at a host of annual automotive events late last month in San Francisco. Cherokee Media Group is looking to continue that dialogue in a more intimate conference setting when it again hosts […] [Read More]

Mobility company Ridecell appointed Fernando Ruarte to vice president of engineering and Gelena Sachs as vice president of people. In his new role, Ruarte will manage global teams developing Ridecell customer and mobility platforms for Ridecell, which is a car-sharing, ride-sharing and autonomous ride-hailing platform for new mobility operators. Ruarte's 20-plus years of engineering management experience includes positions as […] [Read More]

If you listen to lyrics from a rock and roll classic performed by The Who and other bands, you might agree there is “no cure for the summertime blues.” But the auction industry had no such blues in 2018. Jonathan Smoke, chief economist for Manheim’s parent company, Cox Automotive, said during the Manheim Used Vehicle […] [Read More]

Noting that the expansion increases its operational capabilities and readiness for greater volume, online vehicle auction company, Copart, has opened a new location in Antelope, Calif. The company operates at more than 200 locations in 11 countries, with more than 125,000 vehicles available online. “We are committed to adding vehicle storage capacity in California,” Copart chief […] [Read More]

Along with four other interesting statistics about how the Canadian retail used-vehicle market closed 2018, analysts also highlighted prices for the majority of the Top 10 funded used vehicles sold through the Dealertrack Canada stayed nearly steady. With six of the vehicles recording year-over-year increases and four recording declines, the average cash price of the […] [Read More]

Michael Cirillo is known to thousands of dealers across Canada and 64 additional countries as the host of the "The Dealer Playbook" podcast. Cirillo, who is also CEO of FlexDealer, will be at the Auto Remarketing Canada Conference on March 19 during Dealer Training Tuesday, with a session that will guide dealers through a process […] [Read More]

Carfax Canada has released a new pricing tool available on the Kijiji Autos site and an app that the companies say will help Canadians better understand used-vehicle values and empower them to make better decisions about used cars. The tool, according to Carfax Canada, will also help used-car sellers set competitive asking prices. The company says its […] [Read More]