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]

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]