The difference between the price of a new car during the third quarter and that of a used car is enough money to … well … buy a car. Enough, at least, to purchase an older pre-owned vehicle. According to an analysis by Edmunds director of insights Ivan Drury, the gap between average new- and […] [Read More]

Here’s more evidence the used-car market is a complex place nowadays. According to the Q3 Quarterly Vincensus Report, Lotlinx acknowledged while certain brands face issues with high day supply and a largely aging inventory, others are struggling with supply constraints. When it comes to inventory dynamics unfolding during the third quarter, the report highlighted complex […] [Read More]

It’s a scenario buy-here, pay-here dealers likely have experienced often. A contract holder falls behind on payments because the vehicle was impounded, impacting employment and income. To help BHPH operators and special finance companies navigate this common challenge, Advantage GPS on Tuesday announced a major enhancement to its impound lot management system. Advantage GPS highlighted […] [Read More]

The National Centers for Environmental Information (NCEI) said the 24 confirmed weather disaster events so far this year — including hurricanes Helene and Milton, as well as other storms and a wildfire event — created losses exceeding $1 billion each in the United States. And CARFAX estimated that the 2024 hurricane season has resulted in […] [Read More]

Toyota, led by its wildly popular Tacoma small pickup, was again the big winner in Canadian Black Book’s annual Best Retained Value Awards. The Japanese automaker claimed a total of seven of the 2024 awards, the most of any brand, including the top overall brand awards for cars and SUVs/trucks. In addition, Toyota’s sister brand, […] [Read More]

Consumers may feel like they’re without a paddle when it comes to figuring out the right time to sell their vehicle. But they don’t have to be an armchair expert thanks to the Value Tracker tool from Carvana, which can help car owners determine when to let it go. The platform launched last year allows […] [Read More]

Doug Austin noticed car dealers were struggling with slowing sales and increasing expenses, and decided to do something about it. Austin, the founder and chairman of StrategicSource, came up with the Dealer Profit Alliance, a new program designed to show dealers how StrategicSource’s resources can help them increase revenue. “Interest rates have decreased but they […] [Read More]

Reviver has been anointed by the Kings. The developer of the RPLATE digital license plate announced it has joined the NBA’s Sacramento Kings in a multi-year partnership, beginning with the 2024-2025 season. The team will wear Reviver’s logo on the left shoulder of its jerseys, which the company said makes it the first Black-founded technology […] [Read More]

OpenRoad Dealership Group is going into the car wash business through its OpenShine division. And while OpenShine is starting as a franchisee of an American car wash brand, you may see OpenShine-brand car washes in Canada one day, Christian Tjia, operations manager at OpenShine Holdings Ltd. said. “For our long-term strategy, we are definitely exploring […] [Read More]

Volkswagen’s plan to revive the Scout brand has drawn the wrath of the National Automobile Dealers Association. Last week, Reuters reported the VW-backed Scout Motors company will sell its electric SUV and pickup truck directly to consumers rather than through dealers, quoting CEO Scott Keogh as saying he expects Scout to have some three dozen […] [Read More]