Experts at Edmunds, Equifax and TransUnion all touched on car affordability in the past 10 days when analyzing the financing and retailing scenes. The topic surfaced again on Tuesday when Black Book discussed how wholesale prices dropped another 0.24% last week; an amount more than double what lane watchers recorded a week earlier. “The wholesale […] [Read More]

Australia-based mobility software provider Loopit has raised $3.95 million in pre-Series A funding to enter the U.S. market. The company’s technology allows automakers, dealers and rental car companies to provide vehicle usage models like car subscriptions and micro-leasing. Porsche, Subaru, Polestar and SIXT are among the companies to which it provides mobility management software. The […] [Read More]

AccuTrade has hit the accelerator. Cars Commerce’s “instant appraisal engine” took a leap forward in the first quarter of 2024, CEO Alex Vetter said during the company’s recent earnings call, growing to just under 1,000 accounts and generating more than 622,000 appraisals in that span. And that growth was a key piece in Cars Commerce’s successful Q1, which ended March 31. Overall, the company reported ... [Read More]

John Swofford, a longtime executive with America’s Auto Auction, has joined Dealers Auto Auction Group as its new vice president. In a news release, DAA said Swofford, who most recently served as America’s Auto Auction senior vice president, brings a strong focus on operational efficiencies, staffing accountability and safety, and “has demonstrated exceptional leadership and […] [Read More]

DAA Northwest’s 2024 Rock & Roll Sale promises to be sweet as sugar. That’s sugar as in Sugar Ray, the rock band that charted four top 10 songs in the late 1990s and early 2000s, which will be the headline act for the annual event, set for July 17-18 at the auction in Spokane, Wash. […] [Read More]

CarNow is now part of Amazon’s universe. The automotive digital retail software provider announced it has joined the Amazon Web Services Partner Network (APN) as a software partner. The APN is a global community of AWS partners that leverage programs, expertise and resources to build, market and sell customer offerings. CarNow said membership in the […] [Read More]

Memorial Day weekend in the United States marks the unofficial kick-off to the summer car sales season with car dealerships nationwide utilizing the holiday weekend to attract customers with incentives, deals and promotions. Much like in recent years though, affordability remains a key issue as the industry faces challenges in maintaining sales volumes due to […] [Read More]

Total U.S. bankruptcy filings in April increased 28% year-over-year, according to the latest data provided by Epiq AACER. With that rise in mind, Moneywise recently analyzed 11 factors to determine which states contain elderly U.S. citizens — individuals over age 65 — with the greatest risk of bankruptcy. Perhaps not surprising to some, Moneywise pinpointed […] [Read More]

Artificial intelligence is everywhere these days. Now it’s coming to the auto dealership buy-sell market. Retail automotive advisory firm Dave Cantin Group has launched an AI-powered data-mining software designed to provide data-driven valuations for U.S. new-car dealerships, regardless of brand, location or direct input from the dealership. DCG said its proprietary software takes in more […] [Read More]

AutoIMS has promoted senior director of client success Bo Boshell to vice president of client success, a move the company said “recognizes Boshell’s ability to shape short- and long-term strategies while keeping the customer at the center.” In his new role, Boshell, who joined AutoIMS in June, will take on comprehensive responsibility for the entire […] [Read More]