In recent years, dealers enjoyed record-high gross margins on new and pre-owned car sales. However, with inventories returning to pre-COVID levels, dealers are facing a marketplace with increasingly compressed sales margins. Salesmanship is important, but dealers recognize the importance of using cutting-edge technology to help sustain profitability. I am often asked what technology I recommend […] [Read More]

Supply is better than a year ago but starting to tighten in the used-car market; meanwhile, wholesale vehicle prices in August climbed month-over-month and week by week, though were lower than year-ago levels. That’s according to monthly indices and top industry analysts monitoring activity in the used-car market. Black Book’s Used Vehicle Retention Index came in at ... [Read More]

At the start of the school year, Toyota Canada is helping make sure students get their days off to a good start. The automaker donated $100,000 to Breakfast Club of Canada’s nationwide movement to increase access to quality school breakfast programs. In a news release, Toyota noted the cost of living is rising and many […] [Read More]

StoneEagle announced multiple changes to its executive team on Tuesday, with moves involving its chief technology officer, chief customer officer, chief financial officer and chief operating officer. New to the company that’s been in business for 35 years with F&I solutions and comprehensive repair event documentation is Greg Wallace, who will be CFO. StoneEagle highlighted […] [Read More]

Lithia & Driveway’s massive dealership portfolio continues to grow. The giant auto retailer added three more stores to its holdings with the acquisition of Duval Acura and Duval Honda in Jacksonville, Fla., and Subaru of Gainesville in Gainesville, Fla., from Duval Motor Company. The locations are the first in those markets for Lithia, which operates […] [Read More]

Carvana has generated industry buzz in recent weeks with its “Megasites” in Houston and Kansas City, Mo., that are designed for high volumes of vehicle reconditioning. Tricolor is implementing a similar strategy, as the retailer focused on addressing the needs of underserved Hispanic consumers opened its second major reconditioning facility last week to support its […] [Read More]

The results of Pied Piper’s 2024 PSI Service Telephone Effectiveness Study bear little resemblance to those of last year. At the top of the new list, which ranked 20 dealer groups by their efficiency and quality of service telephone calls in quickly and easily setting up a service appointment from the customer’s perspective, is Serra […] [Read More]

Carvana now has a second auction and reconditioning “Megasite” location. The online used-car retailer said Monday it is launching inspection and reconditioning center capabilities at its existing ADESA Houston facility, which will continue to run as an auto auction, as well. This follows Carvana’s first Megasite launch last month at ADESA Kansas City. “In bringing […] [Read More]

Last week, DataScan announced the debut of DataScan360, an innovative, end-to-end commercial lending solution suite specifically designed for dealer-based commercial lenders. The company highlighted its comprehensive suite is designed to fill critical gaps in the commercial lending lifecycle by integrating advanced, data-driven tools that can enhance underwriting and risk management, thereby boosting overall operational efficiency. […] [Read More]

Valley Strong Credit Union wants to generate more auto-finance originations and protect its members from fraud in the process. So, the institution — which operates 31 branches in the California counties of Kern, Kings, San Joaquin, Solano, and Tulare, serving more than 360,000 individuals with approximately $4 billion in assets — finalized a partnership with […] [Read More]