The National Automotive Finance Association is still collecting nominations for the two industry awards to be given during the 2025 Non-Prime Auto Financing Conference. The NAF Association is seeking nominations for the Jack Tracey Pinnacle Award as well as a new accolade to be given this year. The organization will also hand out the Summit […] [Read More]

Tekion is evolving its artificial intelligence offerings. The cloud-native platform serving the automotive retail ecosystem announced the launch of Tekion AI Agents, which it called “the next evolution of its AI-powered platform.” Tekion plans to launch a suite of AI agents for the automotive industry, beginning with Tekion AI Agent for Service, which the company […] [Read More]

Owning and operating an automotive dealership, or group, is a demanding yet rewarding business. However, one of the most critical and often neglected aspects of owning a dealership is succession planning. While many dealers focus on day-to-day operations, few take the necessary steps to ensure long-term success through structured, transitional strategies. Succession planning isn’t just […] [Read More]

AutoCanada’s “transformation plan” is transforming it into a Canadian-only company. Executive chairman Paul Antony this week said the Edmonton-based dealership group plans to sell its U.S. stores, saying its 10 locations in Illinois have been classified as a “discontinued operation” and AutoCanada is actively seeking a buyer. Chief financial officer Sam Cochrane said the company […] [Read More]

The vernal equinox arrived on Thursday, but Cox Automotive suspects that the peak of the spring market might have arrived by the middle of March. Analysts reported that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) dropped from February during the first 15 days of March. The mid-month Manheim Used Vehicle Value […] [Read More]

Ivan Drury had to laugh a little when, during a discussion of President Trump’s on-again-off-again-back-on-again tariff policies, a questioner admitted his confusion, saying, “I’m just trying to piece this together, to be honest with you.” “As is everyone else,” replied Drury, Edmunds’ director of insights. “Don’t worry, you’re not alone. That goes all the way […] [Read More]

Used-car supply is trending downward — but reinforcements are on the way. In its March Residual Value Newsletter, Canadian Black Book provided data and projections showing the supply of used vehicles dwindling over the past three years — and expected to fall even more through 2027. The report showed used-car inventory for 2024 at 1.62 […] [Read More]

Cox Automotive celebrated eight independent auctions and one industry executive during its 16th annual OVE Awards, which honor the top-performing auction partners on the digital wholesale platform. The awards ceremony took place on Monday in San Diego at the start of the Conference of Automotive Remarketing (CAR). The honors based on performance in 2024 went […] [Read More]

Retailing used electric vehicles should be plug-and-play easy for dealers, right? Especially since the latest research from iSeeCars shows used EV prices fell 15.1% over the past year, perhaps making those vehicles some of the most appealing units in your inventory. Well, Cox Automotive’s Q1 2025 Dealer Sentiment Index (CADSI) indicated that dealerships aren’t necessarily […] [Read More]

In an expected move, the Federal Reserve left the target range for the federal funds rate at 4.25% to 4.5% this week when policymakers had their latest opportunity to modify interest rates. While Fed chair Jerome Powell said policymakers will “wait for greater clarity” before making their next move, Cox Automotive chief economist Jonathan Smoke […] [Read More]