Classic country music fans might know the 1990 song by Vern Gosdin titled, “This Ain’t My First Rodeo.” Experienced used-car managers might be singing a similar tune while navigating by spring market signs, according to the latest wholesale market recap Black Book released on Tuesday. Black Book reported overall wholesale values dipped only 0.23%, while […] [Read More]

Consumer interest in electric vehicles has plateaued and dealers want some relief from pressure to sell them. That was the message that emerged from speakers during the J.D. Power Auto Summit earlier this month in Las Vegas. “Interest (in EVs) has been improving pretty nicely over the last few years, but it has kind of ... [Read More]

As the automotive industry hurtles towards 2024, service departments within dealerships are gearing up for a year of significant shifts and innovations. Here are three compelling predictions that are set to redefine the landscape for automotive dealership service departments in the coming year: Warranty revenue: An 8% surge outpacing customer pay growth 2024 is poised […] [Read More]

Carvana’s same-day vehicle delivery service, launched last summer, has continued its rapid expansion into 2024. The online used car retailer announced today that it is bringing the service to the Sacramento, Calif., area, making the state’s capital the latest market to offer delivery within hours of an online purchase of select vehicles. The company said […] [Read More]

The 2024 AutoTrader Awards, which celebrate some of the “best vehicles for Canadians,” honored five Grand Prix winners this year for the country’s most-trusted vehicles. That’s according to some of the country’s leading auto experts, as well as Canadian car shoppers. The five Grand Prix winners and their electric counterparts, if available, for the 2024 […] [Read More]

Wholesale Express is under new ownership — and set to expand its Eastern Canada business further across the country. The wholesale auto sales site for dealers has been purchased by an investor group made up of management and AshMark, and supported by CIBC, Highcrest Capital and Andy Le and John Konop, the company said in […] [Read More]

Despite tighter credit availability and one view of delinquencies showing them higher now than before the pandemic, at least one consumer-driven economic reading showed that people are eager to buy a car. In this economic roundup from three different sources, Cox Automotive chief economist Jonathan Smoke on Monday summarized a pair of consumer sentiment readings. […] [Read More]

Consider the landscape for used-only vehicle retailers just three years ago. Vroom, which launched its initial public offering in June 2020, made its Super Bowl advertising debut in February 2021, followed by a return trip a year later alongside rival Carvana, which joined the commercial action for Super Bowl LVI. Shift announced plans to go public through a special purpose acquisition company (or “SPAC”) in June 2020, a move that was completed in October of that year.  CarLotz, a “retail remarketing” platform, would announce its own SPAC plans that same October. Momentum was strong, amid a pandemic-driven white-hot market for pre-owned cars. Some three years later, however ... [Read More]

Fisker’s shift to a dealership model is beginning to take shape. The electric vehicle manufacturer announced it has signed four dealer partners in the U.S. — Mills Automotive Group, Ourisman Fisker, Classic Fisker and Long Island Fisker. The new dealerships will begin selling Fisker’s electric Ocean SUV from seven locations in six states. Mills, which […] [Read More]

Continuing our series of conversations from NADA Show 2024 earlier this month in Las Vegas, Car Pros Automotive Group CEO Matthew Phillips joins the Auto Remarketing Podcast. Phillips and Cherokee Media Group’s Joe Overby discuss the advantages of the franchise dealer model, the move by some EV makers to launch dealerships, standalone used-car stores, the […] [Read More]