Virtually every auto dealer knows data is a powerful tool for their business. They’re just not quite sure how to use it. That’s perhaps the biggest takeaway from Cox Automotive’s 2024 Power of Data study, released this week. The surveys of 393 franchise dealers and 191 dealership managers found a large majority of dealers — […] [Read More]

Next up on our “M&A + Auto Auctions” series of the Auto Remarketing Podcast is a conversation with TPC Management Co. president Pierre Pons and longtime auto auction executive John Poteet, who recently joined TPC as an industry associate and management advisor. In this episode, we look at the auto auction M&A landscape from the […] [Read More]

Holman has brought a new brand to South Florida. The dealer group/automotive services company announced the opening of Holman VinFast Fort Lauderdale, the Vietnamese electric vehicle manufacturer’s first dealership in the area and among its first nationally. Holman executive vice president of retail automotive Frank Carbone said the decision to add a VinFast dealership is […] [Read More]

The newest relationship forged by DriveItAway Holdings definitely has the feel of the city famous for cheesesteaks and the Liberty Bell. To close July, the company that offers “micro-lease to purchase” technology announced it is partnering with the Chapman Auto Group. DriveItAway will supply the group with vehicles and enable prospects and customers of Chapman […] [Read More]

In almost every conversation I’ve recently had regarding the future of the electric vehicle market — specifically, battery electric vehicles — there is a passionate stance for one side of the argument or the other. Either, “Everyone will have one soon,” or, “It’s a fad and I’ll never have or sell an EV.” The conversations […] [Read More]

EFG Companies sees some market strength and positive economic and consumer trends. But the provider of protection products acknowledged there are ongoing vehicle price concerns and lingering inflation coupled with the heightened political climate. EFG said those are ingredients that could spell challenges for retail automotive and powersports dealers through the end of the year. […] [Read More]

This week, 700Credit — a provider of credit reports, compliance solutions, soft pull, identity verification and fraud detection platforms — announced an alliance with Loopit — a Software-as-a-Service (SaaS) provider, specializing in car subscription management and billing solutions for automakers, dealerships and global startups. Loopit has a network of more than 55,000 vehicles, putting the […] [Read More]

Finance companies certainly use artificial intelligence for underwriting and other analytical chores. The BMO Real Financial Progress Index revealed a growing number of Americans — notably Gen Z — is increasingly using AI, too, for management of finances and investments. Among the 37% of Americans using AI to help manage their finances, BMO Financial Group […] [Read More]

Weltman, Weinberg & Reis Co. hosted a ribbon-cutting ceremony last week to celebrate the opening of its new offices near Cleveland. Gregory Kurtz, the mayor of Independence, Ohio, along with members of the city council, joined the festivities that also were live streamed to all seven of Weltman’s offices that have more than 550 employees. […] [Read More]

Advent Resources wants to give dealers a soft landing in the event of a crash. The creator of the Advent Advantage car dealership sales system has launched Advent Parachute, a backup sales DMS designed to give dealerships a reliable contingency plan during primary sales system outages. The company said Parachute provides dealers with instant access […] [Read More]