As the old saying goes, the bigger they are, the harder they fall. That was the case last week in the Canadian wholesale used vehicle market, as the largest vehicles took the biggest tumble in value. Prices for the overall market were down 0.31% for the week ending June 1 — an acceleration from the […] [Read More]

ServNet said Wednesday that Big Valley Auto Auction in Donna, Texas, and Oklahoma Auto Exchange in Oklahoma City have joined the group of independent auctions. Big Valley, which serves Texas’ Rio Grande Valley, is owned by the father-daughter team of Bernard Waston and Lisa Franz. The auction was founded in 2008 and Franz is general […] [Read More]

The used-car market seems simple enough: buy vehicles and sell them for more than you paid. However, any seasoned general manager, inventory buyer, or used-car specialist knows that there are several factors between those transactions that can tip the scales toward profitability or debt. Unlike new-vehicle inventory, which arrives at the dealer lot by the […] [Read More]

The automotive industry is in the midst of a pressing challenge. Auto dealers are grappling with the issue of their inventory languishing on the lot for extended periods. This situation is not just a minor inconvenience; it’s a significant threat to the dealership’s cash flow and overall profitability. The need to expedite the movement of […] [Read More]

Morgan Auto Group has added another high-performing Florida dealership to its portfolio in a record-setting purchase. The dealership group acquired Hollywood Kia in Hollywood, Fla., from Joe Levy and Steve Gutstein, according to Haig Partners, which represented the seller in the transaction. In a news release, Haig, citing Kia executives, said the sale represented the […] [Read More]

A new outdoor music venue under construction in Colorado Springs, Colo., will carry the Ford name, thanks to Colorado Ford dealers. The Ford Amphitheater, previously known as known as The Sunset, is set to hold its grand opening Aug. 9-11. It is owned by live entertainment and hospitality company Venu Holding Corporation and will be […] [Read More]

Attorney Mike Howk got into the repossession business by accident. More than three decades later, he not only is still there, he is a nationally recognized expert in repossession law as risk manager and director of education for the Recovery Specialist Insurance Group. As such, he was a speaker at the 2024 BHPH United Summit, […] [Read More]

After a challenging April, certified pre-owned vehicle sales appear to have turned a corner in May. According to the latest “State of the Dealer” report from ZeroSum, dealers moved 182,000 certified vehicles in May, which marks the first time CPO sales have crossed this threshold in more than three years. Dealers also have more access […] [Read More]

Black Book spotted the largest single-week value decline since the middle of January during the stretch that included Memorial Day and the end of May. As depreciation accelerated, analysts also noticed the average auction sales rate last week dropped 2% from the previous week to land at 53%. “These market dynamics are intriguing, particularly when […] [Read More]

A Canadian dealership group is moving into the tropics. Steve Marshall Group, based in British Columbia, has purchased its first U.S. dealerships with the acquisition of Orchid Isle Auto Center in Hawaii, according to Performance Brokerage Services, which brokered the sale. Orchid Isle Auto Center, which had been family-owned and operated for more than 40 […] [Read More]