Some 215,000 electric vehicles are expected to come off lease in 2026, which would be a 230% year-over-year rise following an expected 2% decline in 2025, according to J.D. Power. That’s part of what appears to be a “complicated” market for used EVs going forward — one that hinges on governmental policies, OEM decisions and other tentacles, the company said in its E-Vision Intelligence Report for October. Driving this expected off-lease surge of EVs is ... [Read More]

October is typically not a strong month for wholesale vehicle prices, and this year was no exception. However, conversion rates at the auction were solid last month as dealers were competitively snatching up inventory. That’s the latest from industry observers who released their respective monthly wholesale price indices this week. Starting with Cox Automotive, its […] [Read More]

Ed Morse, founder of the Ed Morse Automotive Group, was posthumously inducted into the Florida Automobile Dealers Association Dealer Hall of Fame in a ceremony Thursday night at the at the Waldorf Astoria in Orlando. Morse, who died in 2012, was among 10 members of the Hall’s second class of inductees. The Hall was inaugurated […] [Read More]

To celebrate the 25th anniversary of Used Car Week, Cherokee Media Group has launched the UCW Hall of Fame to recognize executives who have played an important role in the development, growth and success of Used Car Week. Steve Kapusta of Ally SmartAuction, Jeremiah Wheeler of DRN | MVTRAC | SCM and Marguerite Watanabe of […] [Read More]

It’s been a busy week. Donald Trump claimed victory in his bid to return to the White House on Tuesday, and the Federal Reserve cut interest rates again on Thursday. Those developments might not directly impact the vehicles your dealership turns and your finance company underwrites in the immediate future. But experts from inside and […] [Read More]

Five economic factors combined in pushing bankruptcy filings higher again, as the streak of increases now stands at 27 months in a row. According to data provided by Epiq AACER on Tuesday, total bankruptcy filings came in at 47,104 in October, representing a 16% increase from last October’s total of 40,674. Analysts reported individual bankruptcy […] [Read More]

McConkey Auction Group has had its sights set on Portland for some time. Now it’s taking the next step. In a letter from president and CEO Bob McConkey posted on the MAG website, the company announced it will open a new brick-and-mortar auction in Portland, Ore. In the letter, McConkey said MAG is “expanding our […] [Read More]

The Consumer Financial Protection Bureau got to experience what it’s like to go through an examination. The Office of Inspector General (OIG) within the Federal Reserve recently released findings and recommendations of its 2024 audit of the CFPB’s information security program. OIG officials said the CFPB’s information security program continues to operate effectively at a […] [Read More]

Every segment of the Canadian used wholesale vehicle market was down for the week ending Nov. 2. Except one. And that one went through the roof. Canadian Black Book’s weekly Market Insights showed the average wholesale price of full-size pickup trucks soared $399 — a massive 1.18% increase for the week. That was the largest […] [Read More]

ServNet has expanded in the Southeast. The group of independently owned auctions said Wednesday that Central Arkansas Auto Auction has joined its network, which now includes 22 auctions. Cole Hooten is managing partner at the auction, which is based in Beebe, Ark. “We’re so thrilled to have Central Arkansas join ServNet. Cole and his team […] [Read More]