The Federal Reserve’s next opportunity to modify interest rates arrives next Wednesday. Experts see the job market as a primary reason why policymakers might be making their first modification in more than a year. And perhaps at least one member of the Federal Open Market Committee (FOMC) does, too. Comerica Bank chief economist Bill Adams […] [Read More]

Burak Cendek is a partner at Autotech Ventures, a venture capital firm focused on early-stage companies in the ground transportation space, and heads up several investments in the remarketing and fintech areas of automotive. He joins Cherokee Media Group senior editor Joe Overby for an Auto Remarketing Podcast conversation about the areas of automotive tech […] [Read More]

OPENLANE subsidiary autoniq has partnered with Auction Edge to integrate the Auction Edge Pipeline Market Report into its platform. The collaboration makes the Pipeline Market Report, which provides data-driven pricing guidance based on timely sale data from more than 175 EDGE Pipeline auctions, available for direct subscription and access by autoniq subscribers. “Dealers want quick […] [Read More]

Supply is falling. Demand is rising. Anyone with a basic understanding of economics knows what that means. And as the law of supply and demand decrees, used car prices are beginning to rise, according to CarGurus’ August 2024 Intelligence Report, released this week. The report showed used-car inventory levels down in August for the third […] [Read More]

Owners of electric vehicles are ready to come back for more. The 2024 EV Driver Survey, conducted early this year by nonprofit organizations Plug In America and EPRI, found 89% of EV owners said they are likely or very likely to purchase an EV as their next vehicle, a result Plug In America said has […] [Read More]

With the current supply/demand dynamics in the automotive retail sector, sales margins can be razor thin. Maximizing profitability increasingly hinges on optimizing the less conspicuous yet crucial aspects of a dealership’s operations. One such cornerstone is the parts and service department, a vital revenue stream that is sometimes overlooked in favor of the primary focus […] [Read More]

Warren Weimer is service and parts director for Corwin Toyota in Colorado Springs, Colo. Earlier this year, Weimer installed ServiceVision, which is the service department cycle time management tool from Mobile Dealer Data (MDD). According to a news release, Weimer said the result is ServiceVision contributed a 40% to 60% improvement in service bay turn […] [Read More]

Before the rubber meets the road — literally — dealers can help their service customers feel confident they have enough tread on their tires. It’s through a new partnership involving a pair of technology companies. Anyline, which offers artificial intelligence-powered mobile data capture and insights, recently announced a partnership with Fleetback, a digital ecosystem solutions […] [Read More]

Leasing is continuing to gain momentum, helping dealers put their customers into vehicles today with the potential for having the late-model inventory stores need tomorrow. According to Experian’s State of the Automotive Finance Market Report: Q2 2024, leasing is re-emerging as an optimal choice for those seeking flexibility and affordability with the market penetration reaching […] [Read More]

Michele Gutierrez was previously part of the team at AutoPayPlus while she was an F&I director in Laredo, Texas. After spending time with General Motors, AutoPayPlus announced on Thursday that Gutierrez now is back with the organization as a regional account manager. Gutierrez began her career in the automotive industry in 1996, inspired by her […] [Read More]