The used-car supply dynamic is likely to continue to be challenging dealers for the remainder of this year and likely even the next, if reports from industry observers are any indication. But there are some signs of promise for dealers looking to secure that much-needed used-car inventory through wholesale channels, including this nugget: Eleven of the past 13 months have shown a year-over-year rise in unit sales at auto auctions, according to AuctionNet data from the National Auto Auction Association shared exclusively with Auto Remarketing. That string of gains includes January, where total unit sales at auctions came in ... [Read More]

BSC America’s Clayton Station Auction is getting a new name and a new home. The company said the auction will now be known as BSC America’s Specialty Sale, with a weekly auction on Thursdays, beginning March 7, at its new location in Bel Air, Md., on the site where BSC America’s Bel Air Auto Auction […] [Read More]

More than 4.2 million vehicles with unrepaired urgent recalls are currently in operation across the nation, according to data from Carfax. The company said on its blog that the number of vehicles with urgent “do not drive” or “park outside” recalls has increased by more than 65% since May, when Carfax previously reported on them. […] [Read More]

The day before Prime Minister Justin Trudeau was set to deliver remarks to open the National Summit on Combating Auto Theft, the government of Canada announced a variety of federal investments to stop export of stolen vehicles. On Tuesday, Dominic LeBlanc, minister of public safety, democratic institutions and intergovernmental affairs, said the investment comes to […] [Read More]

Ignite Consulting Partners turned to their music library to mark last week’s beginning of the Internal Revenue Service accepting federal tax returns for the current filing season. To explain what this part of the calendar can mean for independent and buy-here, pay-here dealerships, firm experts chose the song “Casey Jones” by the Grateful Dead. Why? […] [Read More]

After sifting through the latest quarterly data, one finding became clear to Satyan Merchant, who is senior vice president and automotive and mortgage business leader at TransUnion. “Affordability remains an issue in the used-vehicle market,” Merchant said in a news release as TransUnion shared its Q4 2023 Quarterly Credit Industry Insights Report (CIIR) on Thursday. […] [Read More]

Last week, prices at auction decreased by 0.42% overall, according to the latest analysis from Canadian Black Book. CBB data indicates that prices held a bit stronger than weeks prior. Two weeks ago, prices dropped by an average of 0.61%, up slightly from the previous week. The car segments were ahead in depreciation two weeks […] [Read More]

Toyota and Lexus come out on top when it comes to quality, durability and pricing. That’s according to J.D Power’s 2024 Canada ALG Residual Value Awards. ALG is the division of J.D. Power known as the industry benchmark of automotive residual value projections. The annual awards recognize the vehicle models that are projected to hold […] [Read More]

Ravin AI, a provider of artificial intelligence-powered vehicle condition technology, has entered a strategic partnership with Black Widow Imaging, a provider of high-resolution imaging systems, to support the deployment of Ravin AutoScan at rental, dealership and auction locations throughout the U.S. Ravin said its AutoScan technology is “set to scale up services dramatically” and expects […] [Read More]

With an Illinois law related to consumer data protection and repossessed vehicles now in place for several months, MBSi rolled out new capabilities to help repo agents and finance companies. Last week, MBSi added a new data removal feature that’s available in its RecoveryConnect platform as well as RCM, its mobile application. To recap, Illinois […] [Read More]