The Presidio Group, an independent banking firm focused on mergers and acquisitions, capital and investments in the automotive retail sector, has named Bloomberg Intelligence senior automotive analyst Kevin Tynan as its new director of research. The company said he’ll be responsible for market insights, content creation and client engagement focused on the U.S. franchised dealer […] [Read More]

Dealers give up on leads far too often when those prospects are still interested in the dealership, according to the latest research by Foureyes. The sales software provider said its data on sales process data among U.S. automotive dealerships sheds light on the opportunity for “hidden leads” in dealership CRMs. Foureyes defined hidden opportunities as […] [Read More]

UVeye’s new partnership has given it instant karma — or, more accurately, Kaarma. The company has teamed with service lane technology provider myKaarma to integrate its artificial intelligence-powered automated vehicle inspection technology with myKaarma’s communication, payment and service lane tools and instantly send the data to a car owner’s smartphone. The integration is designed to […] [Read More]

While members of the Federal Reserve spoke publicly this week about movements associated with inflation and data that’s indicating them, ADESA chief economist Tom Kontos was a little more hesitant when giving his assessment about inflation to Cherokee Media Group. And Kontos leveraged the used-car market to explain his reasoning. “Though there has been a […] [Read More]

Canada’s wholesale auto market is so vast that a conversation about it had to be divided into two parts for the Auto Remarketing Podcast. The first part of that conversation from Canada’s Used Car Week in Toronto features: —Riley Spiers of OPENLANE Canada —Matt Rispin of North Toronto Auction / AutoCanada —Steve Macaluso of Copart […] [Read More]

The surge of auto theft in Canada has subsided – at least for now. In its First Half of 2024 Auto Theft Trend Report, Équité Association, Canada’s national authority on insurance crime, reported auto thefts in the first half of the year dropped by 17% from the same period in 2023. According to the Insurance Bureau […] [Read More]

According to Black Book’s tracking, dealers are buying more vehicles at auction nowadays, but they’re also needing almost two additional weeks to get those cars retailed. Among two of the most interesting parts of the newest installment of Market Insights, Black Book reported the auction conversion rate increased last week to 61%, representing a 3% […] [Read More]

The American Recovery Association board sent an industry message this week, reacting to the Supreme Court’s 6-3 decision overturning what’s been widely known in legal circles as the Chevron Doctrine. ARA first gave a brief explanation of what the Chevron Doctrine was. “Courts had to apply a two-part test in assessing the actions of federal […] [Read More]

Digital wholesale used-vehicle marketplace OPENLANE has promoted senior director of corporate finance Itunu Orelaru to head of investor relations. Orelaru, who will report to executive vice president and chief financial officer Brad Lakhia, will be responsible for communicating OPENLANE’s vision, transformation and growth to stockholders and the financial community, the company said. “With her diverse […] [Read More]

Carvana’s new initiative to support automotive education has some fast company. In conjunction with this weekend’s Brickyard 400 at Indianapolis Motor Speedway, the online used-car retailer has joined with seven-time NASCAR Cup Series champion Jimmie Johnson in a project to donate equipment and funds to Arsenal Technical High School in Indianapolis. Carvana Racing has partnered […] [Read More]