Was it a good week or a bad week? Well, that depends on what kind of vehicles you’re looking at. Canadian Black Book’s weekly Market Insights report showed the Canadian wholesale used-vehicle market down 0.21% for the week ending May 9, a milder slide than the previous week’s 0.32%. But that’s not the whole story. […] [Read More]

Cox Automotive has parted with one of its international businesses. UFODrive Group, parent company of UFOFLEET, announced it has acquired FleetMaster from Cox, a deal UFOFLEET said accelerates its mission to “reshape the $500 billion fleet and mobility market.” UFOFLEET plans to equip and scale FleetMaster’s established platform for rental, leasing and retail, with “intelligent […] [Read More]

Black Book offered two separate looks at the wholesale market this week. The first observation was its weekly installment of Market Insights, which showed wholesale values remained unchanged while auction conversion rates edged higher to 64%. The other assessment explained three reasons why the ongoing surge of gas prices above $4.50 per gallon is creating […] [Read More]

Car Wars’ new partnership has promise. The provider of dealership phone systems announced it is integrating its artificial intelligence service scheduling tool Cari Scheduler into UpdatePromise, a service scheduling and communication platform for franchise dealerships. In a news release, the companies said the collaboration helps dealerships improve service scheduling and appointment accuracy to create smoother […] [Read More]

A former Penske chief financial officer is set to become the newest member of CarMax’s board of directors, the company announced. In a news release, the national used-car retailer said Robert O’Shaughnessy’s appointment to the board is pending the approval of shareholders during their annual meeting next month. CarMax also announced the planned retirements of […] [Read More]

AAA reported on Wednesday that the average price for a gallon of gasoline in the U.S. rose to $4.51, with the average cost for diesel fuel now up to $5.65 per gallon. Escalating fuel expenses are pushing repossession agents to their “breaking point,” according to an urgent message sent by the American Recovery Association earlier […] [Read More]

Two dealer organizations this week announced initiatives to help feed people in need. The Greater New York Automobile Dealers Association donated two new Ford Transit delivery vans to Citymeals on Wheels during the opening day ceremonies of last month’s New York International Auto Show. And Ken Garff Automotive Group has launched its third annual Drive […] [Read More]

Executive changes at Nordis Technologies that began in February continued on Wednesday; this time with a significant family connection. The provider of omnichannel customer communications management and payments technology solutions promoted Lee Selinger to the new position of vice president of omnichannel operations. In this role, Selinger now leads the entire production lifecycle of communications […] [Read More]

Bain & Company today announced an investment in the Deployment Company, a new venture launched by OpenAI with 19 global partners. According to a news release, the OpenAI Deployment Company is built to help businesses deploy artificial intelligence across their most critical operations. The investment extends Bain’s partnership with OpenAI, which has spanned more than […] [Read More]

Former Consumer Financial Protection Bureau director Rohit Chopra is about to lead a new regulator in California. Gov. Gavin Newsom on Tuesday announced the appointment of Chopra to serve as secretary of California’s new Business and Consumer Services Agency (BCSA), which officially launches on July 1. The new agency was established by Newsom through a […] [Read More]