As electric vehicle prices fall, total loss claims rise. That’s the key finding of the latest report from Mitchell, a technology and information provider for the property and casualty claims and collision repair industries. The trends report for the first quarter of 2024, titled “Plugged-In: EV Collision Insights,” found EV total loss rates have soared […] [Read More]

To put the easing in wholesale vehicle prices into perspective, consider these two streaks. The Manheim Used Vehicle Value Index has decreased on a year-over-year basis for 21 consecutive months. And in May, the index fell below 200 for the second straight month, reaching levels not seen since early 2021. The index came in at […] [Read More]

Commercial consignment is not only driving up overall wholesale auction sales, but also commanding a greater share of the overall market. That’s according to AuctionNet data from the National Auto Auction Association shared with Auto Remarketing. Through May, there have been 2.89 million vehicles sold at auction this year, which beats year-ago figures by 9%, […] [Read More]

Impel, a provider of artificial intelligence-powered customer lifecycle management for the automotive industry, announced an integration with WhatsApp as a communication channel for Impel AI to enhance its omnichannel capabilities. In addition to webchat, email and SMS texting, auto retailers using Impel’s AI platform can now deliver personalized experiences and engage in humanlike conversations with […] [Read More]

Manheim built its latest auction from the ground up. The national auction giant partnered with TR Group to establish 4 Star Auto Auction in Valley, Ala., a new location on nearly 22 acres that operates two auction lanes with the ability to expand to three as needed. The $4.2 million facility uses Manheim’s technology, expertise […] [Read More]

The Canadian Automobile Dealers Association is taking a step toward helping dealers battle the rising threat of vehicle theft. CADA is teaming with Kudelski IoT to provide a comprehensive solution powered by RecovR under the newly launched CADA 360 Security Services program. Kudelski IoT, a division of the Kudelski Group, will collaborate with CADA to […] [Read More]

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]