After recently highlighting an employee survey about its positive workplace, EFG Companies expanded its leadership team on Tuesday, reflecting growth opportunities in powersports, dealership training, and profit participation programs. Among the three executive moves, EFG said Adam Ouart has been promoted to senior vice president of agency services and powersports. Also, Glenice Wilder will serve […] [Read More]

AutoTrader’s newest Price Index Report from Canada paints a picture of strong consumer demand and low inventory — an environment the industry has become familiar with since 2022’s historic price highs. Supply continues to be a challenge, with prices rising for both new and used vehicles, according to AutoTrader’s latest report. The price index shows […] [Read More]

Carvana has launched a tool that allows consumers to quickly obtain a valuation on their vehicle and track that car’s value as market conditions change, the online retailer said Tuesday. Carvana Value Tracker uses the company’s proprietary technology and competitive market data to provide the consumer with up-to-date information on what their vehicle is worth, […] [Read More]

The latest research from CarGurus showed a “welcome sign” for the used-car market. The automotive retail platform’s Intelligence Report for July found demand for used vehicles up by 4.8% month-over-month, according to the CarGurus Used Vehicle Demand Index, and just 0.5% behind the level of July 2022. In his recap of the report, CarGurus director […] [Read More]

Larry Dixon, vice president of auction data solutions at the National Auto Auction Association, joins the Auto Remarketing Podcast to preview NAAA’s mid-year report. Dixon and Cherokee Media Group senior editor Joe Overby discuss used-car price movements, how wholesale supply is faring, plus much more. Additionally, Dixon shares some of the educational content on tap […] [Read More]

There appears to be a light at the end of the tunnel for off-lease vehicles, the auction segment whose volumes were hit hardest in the aftermath of COVID-19, and for overall commercial consignment. While an immediate turnaround in volumes isn’t imminent, macro-economic conditions suggest “an improving outlook for commercial off-lease volumes,” OPENLANE CEO Peter Kelly said in the company’s second-quarter earnings call last week “I believe that the headwinds of the last three years look set to ... [Read More]

Automotive technology company Reviver has partnered with South OC Cars and Coffee to support the organization and showcase Reviver’s digital license plate, the RPlate. South OC Cars and Coffee in Orange County, Calif., is among the 29 affiliated Cars and Coffee clubs throughout the world. It bills itself as the world’s largest weekly car show, […] [Read More]

AutoNation is getting creative in a way that could potentially solve several issues for the dealer group and its customers. The company’s AutoNation Mobility division is booking what’s dubbed “Micro-Leases,” putting customers into new cars connected to leases lasting six to 12 months. According to the program website, these “Micro-Leases” currently are available only at […] [Read More]

Electric vehicle manufacturer Faraday Future has appointed former CarLotz CEO Lev Peker as a member of its board of directors and chairman of the board’s audit committee, by unanimous vote of the board. Peker is currently CEO of PartsiD, a digital commerce platform for the automotive aftermarket. He previously served as chief executive at CarLotz, […] [Read More]

It’s been a busy year on the acquisition front for APCO Holdings. On Monday, the provider and administrator of automotive F&I products and home to the EasyCare, National Auto Care, GWC Warranty and MemberCare brands recapped that it has completed four additional acquisitions so far in 2023. In early January, APCO announced that it had […] [Read More]