The respective Black Book and Cox Automotive used-vehicle value indices both reached their lowest levels since March 2021, but the erosion in wholesale prices could be on its way out, according to analysis accompanying one of the reports. Cox’s Manheim Used Vehicle Value Index came in at 196.1 last month, down 8.9% year-over-year and 0.6% […] [Read More]

Along with mentioning interesting movements among four specific vehicle segments, Black Book noticed the auction conversion rate increased again, even while some sales didn’t happen because of Fourth of July. Black Book reported on Tuesday that car prices dropped for the sixth consecutive week, and truck values declined for the seventh week in a row. […] [Read More]

Digital auto sales technology provider izmo Inc., has acquired Geronimo Web, a global provider of digital marketing programs for OEMs and dealerships, a deal izmo said establishes it as one of the largest providers of digital web platforms for automotive dealers across the U.S., Europe and South America. The combined company now serves more than […] [Read More]

Tech-enabled automotive service company Strolid has launched its first product. The Strolid Portal for auto dealers is designed to use actual customer conversations to provide operational insights throughout the entire dealership and reveal opportunities for improvement. Strolid said its new product, available to its sales and service BDC customers, allows dealers to listen to customers […] [Read More]

The theme of Cox Automotive’s 2024 midyear review is… wait for it … No, I mean, that’s the theme: Wait for it. Uncertainty is the name of the game right now in the automotive market, according to chief economist Jonathan Smoke and Cox’s team of analysts, as consumers wait for any number of things — including ... [Read More]

iA Financial Group has made a $10 million investment in Canadian online used-car retailer Clutch Technologies to integrate its insurance products into Clutch’s platform. Clutch, founded in 2017 and based in Toronto, sold more than 8,000 used vehicles through its online platform in 2023, making it one of Canada’s largest used-vehicles retailers, the companies said […] [Read More]

Here’s another way your certified inventory can look more appealing to potential buyers. On Tuesday, Trusted Sale announced that its vehicle inspection reports will now be available within the CARFAX Vehicle History Report. The companies said the vehicle inspection details that Trusted Sale captures will live indefinitely within the CARFAX Vehicle History Report for applicable […] [Read More]

Just ahead of Fourth of July, the Consumer Financial Protection Bureau released its summer installment of Supervisory Highlights, which included the regulator’s examination of auto financing servicing activities. The bureau said it primarily assessed servicers’ compliance with the Consumer Financial Protection Act’s prohibition on unfair, deceptive or abusive acts or practices (UDAAP). Officials indicated recent […] [Read More]

TRADER Corporation, a provider of online media, dealership software and lender services has acquired Collateral Management Solutions from the Teranet group of companies. TRADER said the move is designed to enhance its financial technology offerings as an expansion of Dealertrack Canada, its automotive finance system. CMS is a provider of lien and registration, recovery and […] [Read More]

Impel, which provides an artificial intelligence-based customer lifecycle management platform to the auto industry, said Tuesday it has acquired Outsell in a deal valued at more than $100 million. The transaction includes cash and equity in Impel. The company said the purchase of the SaaS provider “establishes the auto industry’s first end-to-end AI sales and […] [Read More]