In two separate investor notes this week analyzing the respective earnings results of ACV and OPENLANE, John Healy of Northcoast Research describes the wholesale vehicle market as “thawing.” This melting “ice,” so to speak, should come as a warm welcome to the overall used-car ecosystem, which has dealt with an avalanche of up-and-down prices and is in dire need of liquid assets (i.e. pre-owned supply for dealer lots). “Q4 financial results from ACV were reflective of our view that wholesale industry pressures are ... [Read More]

Orbee, a provider automotive customer experience middleware, has completed an SOC 2 Type 2 audit, which assesses a company’s internal controls in handling sensitive information. The company said the audit ensures Orbee has business processes and security measures in place to protect customer data against unauthorized access, data breaches and leaks, aligning with privacy regulations […] [Read More]

It’s quite a balancing act nowadays for dealers who have some customers who want to do everything digitally and others who want nothing to do with those financing tools, preferring to do everything in person with paper documents. RouteOne’s Amanda George takes us through that scenario and more during this episode of the Auto Remarketing […] [Read More]

We get into the auto-finance numbers again during this episode of the Auto Remarketing Podcast recorded at NADA Show 2024 in Las Vegas. Experian’s Melinda Zabritski reviewed the latest quarterly trends as well as other metrics the industry is generating that now merit watching. Listen to the episode in the window below. [Read More]

This week, ComplyAuto launched Guardian, an artificial intelligence and machine learning engine designed to assist dealerships in adhering to sales, F&I and advertising regulations. ComplyAuto said Guardian offers a significant advantage for an industry frequently scrutinized by the Federal Trade Commission and state attorneys general for compliance issues in advertising, sales, and F&I practices. Company […] [Read More]

The newest partnership forged by DriveItAway Holdings arrived at a time when CEO John Possumato said the company’s exclusive “Pay as You Go” app-based subscription might be needed even more. Possumato pointed out that rejection rates for auto finance applications reached a record high in 2023, according to the Federal Reserve Bank of New York’s […] [Read More]

PrivateAuto, an end-to-end transactional marketplace for private-party vehicles, has partnered with automotive inspection company LemonSquad to streamline the inspection process for private-party vehicle sales. Through the partnership, PrivateAuto is offering a LemonSquad inspection service option for any vehicle listed on its platform that can be ordered directly inside the app. The service can be purchased […] [Read More]

Service departments were busier in January than the month before and revenue continued to grow, according to the latest analysis of Xtime data by Cox Automotive. The Xtime Repair Order Volume Index of 82.4 for January represented a 2.7% increase from December and a 1.3% drop from January 2023. Service department revenue remained strong, with […] [Read More]

Individuals outside the automotive industry might believe owning a dealership is a way to literally print money. Knowing full well that’s not the case, Tim Blochowiak of Protective Asset Protection offered some suggestions to help principals build real wealth through their businesses during this episode of the Auto Remarketing Podcast, recorded at NADA Show 2024 […] [Read More]

Buckeye Dealership Consulting evidently ran the numbers and added one of the buy-here, pay-here industry’s leading experts in accounting to its roster. This week, the provider of reinsurable products for automobile dealers and finance companies announced that David Wiggins has joined Buckeye as a senior advisor to the executive management team. Wiggins brings more than […] [Read More]