To buy new or used? Consumers who are debating that issue might be surprised that, according to a study from iSeeCars.com, certain models can be more economical when purchased new. The average new car costs 30.2 percent more than the 1-year-old used version of the same vehicle, according to the study, which analyzed more than […] [Read More]

KAR Auction Services said last week that it has completed its purchase of CarsOnTheWeb, a digital wholesale auction platform out of Belgium. The agreement to purchase COTW was first announced Nov. 28. The purchase was for roughly 91 million euros in cash, plus as much as 65 million euros more (over time) based on certain […] [Read More]

Graham Holdings Co. — an education and media company whose operations include educational services, television broadcasting, online, print and local TV news, home health and hospice care as well as manufacturing — recently decided to diversify its portfolio even more. And in doing so, the company decided to get into the retail car business. Graham […] [Read More]

Perhaps dealers now shouldn’t be surprised if the operation they’re bidding against for specific vehicles in the wholesale market is Fair. Arriving amid all of the hubbub of NADA Show 2019, the car-as-a-service provider announced it closed a $50 million debt facility from Silicon Valley Bank (SVB) to buy vehicles for its users — the […] [Read More]

Dealership organizations in two states think services from Dealertrack can help their members streamline operations that happen behind the scenes of vehicle deliveries. The Louisiana Automobile Dealers Association (LADA) recently announced its exclusive endorsement of Dealertrack Registration and Title Solutions to equip Louisiana dealers with the tools they need to deliver a more accurate and […] [Read More]

In a continued effort to provide a most compliant financing solution, Vergent Loan Management Software recently announced a partnership with Carleton for consumer loan calculation support. Vergent has been providing financial management software since 2006. Formerly eSoftware Solutions, the company offers a web-based loan management software solution that encompasses loan origination, loan servicing, marketing, reporting […] [Read More]

Whether a consumer is buying a personal care item costing just a few bucks or financing a vehicle purchase involving thousands of dollars, Experian insisted that digital commerce has changed the way consumers interact with businesses. Experts see how commerce is moving from face-to-face transactions to anonymous relationships built on trust. Difficult to achieve and […] [Read More]

Since blockchain is establishing its presence in the automotive sector, strategy and marketing consultancy Simon-Kucher & Partners projected after dissecting recent study findings that the revenue potential for this technology could ramp up to be nearly $120 billion by 2030. Simon-Kucher orchestrated a survey to delve deeper into what’s prompting car owners and other road […] [Read More]

At KAR Auction Services, the widespread and varying investments it has made to adapt to the digital transformation in wholesale are multi-faceted.  They have included the purchases of companies in the digital space (TradeRev), data and analytics (DRIVIN), international (CarsOnTheWeb) and mobility (STRATIM). And then integrating those systems. Through all of it, they’ve strived for […] [Read More]

There wasn’t any “grand announcement” from Cox Automotive when Sandy Schwartz took the floor at an NADA Show 2019 press conference here late last month. Rather, Cox Automotive was touting a range of projects in the hopper designed to “make a difference in the future of dealers,” said Schwartz, the company’s president. “One is digital wholesaling,” […] [Read More]