Koch Automotive Group recently announced that it has developed a new e-commerce website that it will roll out across each of its dealerships, starting with Edmonton's Koch Ford Lincoln and DK Ford. The new platform for buying cars will allow consumers to browse inventory, speak with live operators and reserve a purchase — all online. “The […] [Read More]

The previously announced spin-off of Cars.com from TEGNA — which will ultimately results in two publicly traded companies — has been greenlit by the board of directors at TEGNA. TEGNA, which is already publicly traded, said in a news release Wednesday that Cars.com will be spun off through a pro rate distribution of its outstanding […] [Read More]

On Wednesday, FactorTrust released its newest Underbanked Index, highlighting quarterly insights of the earning, spending and living habits of underbanked consumers — what the firm contends is a $105 billion untapped market. The index highlighted the demographic characteristics, credentials and capacities of the underbanked, like the trend of median loan values among this segment increasing […] [Read More]

Certified pre-owned vehicle sales were up modestly in April, as the first third of the year wrapped up slightly ahead of the 2016 pace. According to Autodata Corp., there were 234,493 CPO sales last month, beating year-ago figures by 0.7 percent. That pushes the year-to-date sum to 881,881 sales, a 0.3-percent increase. This follows a particularly […] [Read More]

Manheim Dallas-Fort Worth recently announced that due to continued growth in specialty sales, it has invested in a 3,000-square-foot specialty building in order to meet growing dealer demand. The new facility is located across the street from the auctions wholesale vehicle operation and will have its own staff that will serve dealers in two sales lanes, according […] [Read More]

Those worried about a potential crash in used-car prices, take heart. For now. One of the indices measuring wholesale vehicle values has seen its first increase in 27 months. While the April reading of Black Book’s Used Vehicle Retention Index (113.1) was just a hair above March’s (113.0), it’s at least a temporary pause to […] [Read More]

Dealers often overestimate the trust car shoppers have in them and customers sometimes know more than the salesperson, according to MAXDigital’s recently released strategic dealer research study on the subject of trust and transparency in the digital age. MAXDigital surveyed U.S. dealers during the 2017 National Automobile Dealers Association Convention and Expo. Almost 70 percent […] [Read More]

A fatal vehicle crash occurred at Lynnway Auto Auction in Billerica, Mass., on Wednesday morning. In a statement released Wednesday evening by the office of Middlesex District Attorney Marian Ryan, officials confirmed that three people died from a collision at the auction. Nine were hospitalized. At the time of another news release from the DA's […] [Read More]

On Wednesday, CRIF Lending Solutions announced a partnership to integrate Carvana’s online automotive retail platform with its ACTion and SAIL loan origination systems. CRIF said its new collaborative effort aims to help financial institutions effectively reach pre-approved customers or members for direct auto loans.  “Integrating our platforms with partners like CRIF Lending Solutions provides consumers […] [Read More]

As millennials continue to turn from the way previous generations have shopped in this digital age, their growing desire for luxury vehicles has surpassed older generations as well, according to the Harris Poll's 29th annual EquiTrend Study. The report on consumer’s preferences reveals what Harris found to be the strongest brands across the automotive industry as […] [Read More]