While Edmunds detailed the swelling of negative equity, Cox Automotive noticed credit access loosened to close the third quarter. The Dealertrack Credit Availability Index came in at 92.8 in September, representing a 0.4% improvement from August and stopping a streak of five consecutive months of tightening. However, Cox Automotive pointed out that the reading still […] [Read More]

Wholesale prices are falling, used cars are staying in dealer inventory longer and the entire industry is still gathering information about total damage created by two vicious hurricanes to strike in the past month. That’s the main assertions included in Black Book’s newest Market Insights released on Tuesday, as the analysis covered the week that […] [Read More]

A new online wholesale auto auction platform puts the “seller’s reputation on the line.” ACV Auctions co-founder and former executive Joe Neiman has launched DealerClub, a reputation-based exclusive marketplace where “each member puts their reputation on the line and is accountable for the vehicles they sell based on a rating system.” Buyers using DealerClub to […] [Read More]

Grace Huang — who is the president of inventory solutions at Cox Automotive, which includes Manheim — joined the Auto Remarketing Podcast at this month’s NAAA World Remarketing Convention for a conversation about the M&A growth in the auto auction market. Huang talked with Cherokee Media Group senior editor Joe Overby about build versus buy […] [Read More]

The North Carolina Automobile Dealers Association’s relief efforts for those affected by Hurricane Helene received a big boost from dealers in the Fayetteville area of the state. The association said in a LinkedIn post Monday that the Fayetteville New Car Dealers Association donated $25,000 to the NCADA Disaster Relief Fund to help North Carolinians in […] [Read More]

This week, industry veterans Travis Ross, Mike France and Jeff Anderson launched a specialized outsourced collections service tailored for buy-here, pay-here dealerships. The trio with more than 70 years of combined experience sees Auto Collect Solutions as a service provider that can “transform” collections processes, helping dealerships improve profitability, cash flow and customer relationships. “At […] [Read More]

In March, Edmunds said “negative equity is rearing its ugly head.” After looking at its third-quarter data that showed average negative equity hitting an all-time high, Edmunds acknowledged on Tuesday that the trend now is “nothing short of alarming.” Edmunds reported that 24.2% of trade-ins toward new-vehicle purchases in Q3 had negative equity. That’s up […] [Read More]

The HGregoire dealership group is on a bit of an expansion spree lately, but not in Canada. Its most recent additions have been in the U.S., where is goes by HGreg. Its expansion strategy is similar in the U.S. and in Canada, John Hairabedian, president and CEO of HGreg, said. “We continue to find the best opportunities to expand in all markets across both borders,” he told Auto Remarketing Canada. Its U.S. expansion strategy this year has ... [Read More]

Separate research endeavors by the Insurance Research Council (IRC) and EpicVIN came to the same conclusion that Louisiana dealers from Shreveport to Slidell might have already known. It’s mighty expensive for vehicle owners in the Bayou State to maintain insurance coverage after they take delivery. According to IRC, the average annual expenditure for auto insurance […] [Read More]

In the wake of the hurricanes Helene and Milton, which have devastated several areas of the Southeast in recent weeks, the National Auto Auction Association is urging its members to donate to the NAAA Mike Browning Auction Employee Relief Fund. The fund is a part of the NAAA Warren Young, Sr. Scholastic Foundation and is […] [Read More]