Dealers looking to secure late-model vehicles at auction are in luck. One- to 3-year-old vehicles was the only age group to show a month-over-month increase in wholesale auction sales volume during April, climbing 3%, according to AuctionNet data from the National Auto Auction Association. Sales of 1-3-year-old vehicles climbed 15% from April 2023, as all […] [Read More]

America’s Car-Mart is poised to surge past a baker’s dozen of locations in the Lone Star State. The company announced last week that it has entered into a definitive agreement to purchase the dealership assets of Texas Auto Center (TAC). According to a news release, the transaction — which excludes legacy finance receivables — is […] [Read More]

Are traditional car dealerships becoming less relevant in this era of digital disruption? Not according to the latest study conducted by Urban Science and The Harris Poll. The 2024 Urban Science Dealership Transformation Index polled 3,005 U.S. car buyers in three “key dimensions” — dealer relevance, trend resistance and actions — to measure customer perception […] [Read More]

The title of a project TransUnion released on Thursday at its 2024 Financial Services Summit (attended by nearly 300 global financial services executives) might have given some frightening flashbacks of struggles with algebra. The new TransUnion study — Solving for Z — explored credit usage by today’s Gen Z consumers and compared it to similarly […] [Read More]

The first quarter of 2024 is one AutoCanada might like to forget. A combination of challenging market conditions — and weather conditions — made it a rough go for the Edmonton-based dealership group, which in its Q1 earnings call last week reported reduced revenues and a net loss for the three-month period that ended March […] [Read More]

It might be a cliché, but findings from the J.D. Power 2024 Canada Dealer Financing Satisfaction Study reinforced it. Relationships matter. Study orchestrators said this week lenders that are looking to capture a bigger piece of the market should focus on building and cultivating relationships with dealers, especially with Canada’s new-vehicle sales continuing to grow […] [Read More]

Affordability and availability of used electric vehicles is improving, and in some cases, so are sales. Over 4% of Carvana’s sales in the first quarter were battery-electric vehicles, more than doubling their share of sales from Q1 2023, according to a study released Wednesday by the online used-car retailer. Specifically, BEVs represented 4.3% of Carvana’s […] [Read More]

The U.S. has a new entry in the budding sector of artificial intelligence-driven vehicle inspections. Click-Ins has launched in the U.S., opening a headquarters in Kansas City, Mo., and appointing Charles Lukens as its new CEO as part of the company’s global expansion strategy. In a news release, Click-Ins said its move into the American […] [Read More]

We rolled into May last week, and the auction world might be finished with spring soon. Black Book’s latest observations of wholesale values showed the overall market ticked 0.09% lower during the week that closed with the 150th Kentucky Derby. Despite the spring lift for prices halting, dealers might still be racing for the Winner’s […] [Read More]

British luxury automaker Bentley Motors has named Holman’s Lauderdale Collision Center as its 2023 Bodyshop of the Year in North America. The award honors the Bentley body shop that best demonstrates an unwavering devotion to quality, continued training and outstanding customer service, Holman said. “This incredible achievement is a testament to the hard work, dedication […] [Read More]