CarMax is seeing a lot of momentum in its business. Just ask the company’s president and CEO, Bill Nash. He and others said the word, “momentum,” several times during the company’s fourth quarter fiscal year 2025 earnings release conference call. In fact, he used the word three times in one sentence during the Q&A portion of the earnings call. “We expect that momentum that we’ve been seeing for the last three quarters, we’re coming into the year very strong, and we’ve got some good momentum, and we would expect to continue that momentum ...” Nash said. Earlier in the call, Nash provided examples of that momentum, noting that digital tools and enhancements have ... [Read More]

Anecdotal conversations that Cherokee Media Group shared with Auto Intel Summit attendees last week generally indicated that dealers and lenders are not having too much trouble getting potential vehicle buyers the financing they need to take delivery. The newest Dealertrack Credit Availability Index released while industry leaders gathered in Cary, N.C., reinforced that conference dialogue. […] [Read More]

EDITOR'S NOTE: This is a special preview (available now to CMG Premium subscribers) of the May edition of Auto Remarketing, which will focus entirely on a new special feature: Who to Watch. This special feature will recognize auto industry executives and companies — selected by Cherokee Media Group's senior editors — who are significantly shaping the future of the used-car industry. This is not an awards issue, but rather a collection of special features on leading companies and executives from retail, remarketing, auto finance, loss mitigation, and investor segments of the industry. [Read More]

TSD Mobility Solutions announced its long-term strategic plan for upgrades to its rental car software products, including several to be released this year. The initiatives begin with the redesigned TSD RENTAL mobile app, launched this spring. In a news release, the provider of software for rental car companies said the new design “reflects TSD’s dedication […] [Read More]

The automotive industry has always been cyclical, but today’s market conditions present a new set of challenges. With a 25% tariff being imposed on all imported vehicles, dealer principals must rethink their long-term strategies. The question is no longer just about operational efficiency. It’s about survival and securing the best path forward. For many dealers, […] [Read More]

Hyundai Mobis, one of the world’s largest suppliers of automotive parts and components, held an investment presentation for startups in North America, seeking to secure a future mobility technology alliance. The company held its fourth annual Mobis Mobility Day this week in Detroit, moving it from its previous site in California’s Silicon Valley to a […] [Read More]

Cerritos Auto Square in Cerritos, Calif., has debuted a free concierge service for car shoppers. The Southern California retail center, which bills itself as “America’s largest auto mall,” said customers now have access to concierge representatives to help them find the right car, answer questions about financing and trading in vehicles, and negotiate for better […] [Read More]

Credit Acceptance, EFG Companies and Western Funding all announced in recent days that they received awards associated with their operations connected to auto financing. Beginning Credit Acceptance, the company specializing in subprime auto financing said it has been named one of the 100 Best Companies to Work For by Great Place To Work and Fortune […] [Read More]

Location Services said Thursday it has acquired third-party dealer consignment remarketing company Marina Hill Finance. Location Services, a full-service recovery management company, also announced it is rebranding its remarketing division as Pinnacle Remarketing. Marina Hill Finance is based in San Antonio, Fla., which is Northeast of the Tampa area and to the Southwest of Orlando. […] [Read More]

State Line Auto Auction in Waverly, N.Y., announced the launch of a new online tool and a new website designed to enhance their dealer experience. The dealers-only auction unveiled Edge Lookout, an improved online portal through Auction Edge. “We upgraded to Edge Lookout, a more complete front-end interface for the Edge Pipeline platform that lets […] [Read More]