Wholesale vehicle prices last month were down double-digit-percentages from March 2023, but whether the close of the first quarter represented a strong spring market is up for some debate. It may depend on which industry index you’re observing. Still, a common theme of “normalcy” certainly has emerged in the used-car market. On Monday, Black Book […] [Read More]

Electric-vehicle naysayers likely harp on challenges such as outdated and insufficient infrastructure, alongside environmental regulatory programs, as hurdles to continued expansion of EVs and battery manufacturing in the U.S. U.S. law firm Troutman Pepper acknowledged those elements and other risks undermining EV adoption in its new industry report released on Monday. But Troutman Pepper also […] [Read More]

America’s Group has appointed Ron Kruczynski as its new chief financial officer. The parent company of America’s Auto Auction and AXLE Funding said the addition shows its “commitment to strengthening its financial structure and reinforcing its position in the used car sales industry.” Kruczynski will be responsible for overseeing all financial operations of America’s Group, […] [Read More]

Rapid Recon wants to help car dealers get their forms in order. The dealership software provider has introduced Custom Forms, a free feature for users of Rapid Recon’s T2L used-car reconditioning workflow software designed to help dealers personalize, customize and digitize the forms used in fixed and variable operations. Custom Forms is designed to convert […] [Read More]

Orbee, a provider of automotive customer experience middleware, has integrated with phone system and call analytics provider Car Wars in a partnership designed to enrich shopper profiles with advanced voice data and facilitate a deeper understanding of shoppers’ behavior before, during and after voice conversations. Orbee’s Customer Data Platform now includes call data from Car […] [Read More]

Cherokee Media Group president Bill Zadeits catches up with Larry Dixon, who is vice president of Auction Data Solutions/AuctionNet at the National Auto Auction Association, during last month’s CAR Conference in Phoenix. They discuss Dixon’s presentation at the conference, which included highlights from NAAA’s annual member survey, auction volumes, conversion rates, vehicle affordability, used-car demand […] [Read More]

Cox Automotive modified its executive structure overseas. Last week, the company announced it has promoted Mike Mosier to managing director of its Manheim businesses in continental Europe. Mosier will report to chief strategy officer (international) Craig Mailey, with Manheim leaders in Germany, Spain and Portugal reporting to this new managing director. Having lived in Germany […] [Read More]

S&P Global recently launched S&P AI Benchmarks by Kensho, which is a benchmarking solution to assess and rank the quantitative reasoning abilities and expertise of large language models (LLMs) across the business and finance industry. The company said results of these assessments will be displayed on a scoreboard to provide a “transparent and comprehensive” view […] [Read More]

Dealerships and finance companies aren’t the only operations leveraging technology nowadays. Two of the largest federal regulators — the Consumer Financial Protection Bureau and the Federal Trade Commission — recently outlined how they’re trying to use technology, too. At the CFPB, director Rohit Chopra and chief technologist Erie Meyer released a statement on enhancing agency […] [Read More]

You can’t win a game in the first quarter, but it never hurts to have a hot start. And that’s exactly what the auto auction market did to begin the year. Wholesale auction sales volume in the first three months of 2024 represents the strongest first quarter in four years, according to AuctionNet data from […] [Read More]