CarGurus has gone all in on CarOffer, closing its deal to take over 100% ownership of the digital wholesale platform in December. But, the company said in its fourth-quarter 2023 earnings call, getting a return on that investment is going to take time. CarGurus’ digital wholesale operation recorded ... [Read More]

Sometimes a trend surfaces in the car business that’s “natural,” like what Experian noticed after compiling its auto finance data for the fourth quarter. According to Experian’s State of the Automotive Finance Market Report released on Thursday, the average interest rate for new-vehicle financing reached 7.2% in Q4, up from 6.1% a year ago. Meanwhile, […] [Read More]

The Colorado Automobile Dealers Association has partnered with inSearchX’s AskOtto.AI generative artificial intelligence platform for its 2024 Denver Auto Show, coming up April 4-7 at the Colorado Convention Center. The collaboration is designed to strengthen auto buyer engagement and accelerate auto purchases, providing personalized vehicle recommendations, proprietary car analyses and access to vehicle services such […] [Read More]

Wholesale vehicle price declines in Canada eased a bit last week, dropping by an average of 0.39%, following a 0.55% decline the prior week, according to the latest analysis from Canadian Black Book. The CBB report shows car prices dropping by 0.55%, while the truck/SUV segment prices decreased by 0.24%. The trend since the year […] [Read More]

Continuing efforts to combat rising vehicle theft rates, the government of Canada is investing $15 million to support law enforcement agencies fighting the growing crime rates. Members of the government, including Dominic LeBlanc, Minister of Public Safety, democratic institutions and intergovernmental affairs, as well as reps from the Montreal Police Service gathered last week to […] [Read More]

The vast majority of car buyers say the dealership experience affected their decision to buy and made them feel confident in their choice, according to a survey by experience agency ChangeUp. The company’s report, “Why the Dealership Experience Still Matters,” showed 84% of the more than 1,200 recent car purchasers surveyed agreed that their dealership […] [Read More]

Next up on our series of Auto Remarketing Podcast episodes from NADA Show 2024 earlier this month in Las Vegas is a conversation with Derek Hansen, vice president of operations, inventory and management solutions at Cox Automotive. Listen to full conversation in the window below and stay tuned for more from NADA Show 2024. [Read More]

Getaround began the month by announcing an immediate workforce reduction that impacted approximately 30% of the company’s North American staff. Now, the connected carsharing marketplace is closing the month by naming a new CEO, among other leadership changes. In a move announced Wednesday and effective immediately, Getaround said its board of directors has appointed former […] [Read More]

Electric vehicle manufacturer Fisker continues building its new dealer network with the addition of two dealer partners set to open three locations in the U.S. The new dealers are Bul Auto Sales, which plans to open Fisker Albany (N.Y.) and Fisker Jacksonville (Fla.), and Karma Indy, which will open Fisker Indianapolis. The company has now […] [Read More]

Used-car retailing giant CarMax has ramped up its efforts to promote women’s sports, teaming with reigning National Women’s Soccer League champion Gotham FC as the club’s marquee partner and official automotive retailer. The new multi-year agreement includes the CarMax logo on the front of the team’s jerseys. “CarMax is proud to build on our partnership […] [Read More]