Cox Automotive chief economist Tom Webb shared his theory as to why wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 1 percent in November. Webb explained that what brought the Manheim Used Vehicle Value Index to a reading of 124.7 for November — a decrease of 0.3 percent from a year […] [Read More]

With the Federal Reserve’s final gathering of the year set for next week, an interest rate move certainly appears to be in the works since at least one observer said the market has been behaving that an uptick is coming with “100-percent certainty.” As the Fed considers a wide range of data points before making […] [Read More]

Veros Credit recently announced the promotion of Harvey Singh to chief operating officer. The finance company that originates paper with both franchised and independent dealerships highlighted Harvey will continue to oversee the loan servicing department and will also be responsible for companywide operational policies, objectives and initiatives in the originations, production, corporate operations, and nationwide […] [Read More]

Donlen announced Tuesday that its next generation Vehicle Optimization Model (VOM), delivers enhanced functionality and features an upgraded user interface that makes analyzing and presenting results of fleet vehicle comparisons easier. “Donlen’s new and improved Vehicle Optimization Model provides our customers with the ability to change a variety of input parameters to enable powerful “what-if” […] [Read More]

If a Canadian car-shopper brings in an off-make trade-in to a GMC dealership, there’s a good chance it might be a Chevrolet Silverado 1500. According to the latest Dealertrack Tradertracker report, the Silverado 1500 has been the top off-make vehicle appraised by GMC dealers this year (through the end of November). Second on the list […] [Read More]

Carvana has launched in Cleveland, which is the 12th market the online retailer has added this year, the company said in a news release. Wednesday’s launch brings Carvana’s total market count to 21. It is also the farthest north that Carvana has launched. The company’s previous launches in Ohio include Columbus and Cincinnati. Just before […] [Read More]

Sirius XM’s Connected Vehicle Services announced it has partnered with AT&T to provide 4G LTE connectivity to support SiriusXM Guardian, the satellite radio company’s package of in-vehicle safety, security and convenience services now in select 2017 model-year FCA vehicles. Services of SiriusXM Guardian are available in the 2017 model-year Chrysler 300, Dodge Challenger and Dodge […] [Read More]

Six different companies with a significant auto industry presence were named among the 2016 Best Workplaces for Diversity, according to global research and consulting firm Great Place to Work and Fortune. The half-dozen companies included in the rankings based on employees' assessments of workplace fairness, opportunities for training, and access to senior leadership among other […] [Read More]

What’s your strategy for making the most from the flood of off-lease vehicles flowing into your dealership? Perhaps not so much a flood as a trickle, believes industry consultant Tommy Gibbs. Either way, he advises dealers to sharpen their processes and practices to weather whatever change to the business foretells. This year marked the greatest […] [Read More]

On Tuesday, DealerStar announced it upgraded its dealer management system (DMS), which now provides dealerships more access to vital information regarding their vehicles through myCarfax Service Shop tools. Today, dealers using the DealerStar DMS can join the myCarfax Service Shop program for free resources such as Carfax Service History Check and Carfax QuickVIN. “DealerStar DMS is […] [Read More]