Wholesale vehicle depreciation gained a bit of steam in Canada last week, with prices falling by an average of 0.70%, according to the latest Canadian Black Book weekly report. Car segments once again saw larger declines, with a drop 0f 0.86%, CBB said. Trucks dropped by 055%. None of the segments CBB tracks saw prices […] [Read More]

With about 45 days already on the 2024 books, NextGear Capital assembled seven recommendations for independent and buy-here, pay-here dealerships to help them stay on a positive track for the rest of the year. These suggestions touch on a variety of operational segments, from customers reviews to what is NextGear’s specialty — floorplanning. Here are […] [Read More]

The professional connection of Jennifer Turnage and Steve Norwood dates to 2005 when Norwood co-founded Consolidated Asset Recovery Systems (CARS) and Turnage served as chief financial officer of the company for seven years. Primeritus Financial Services acquired CARS in 2019 but hit rough business waters like many operations involved in repossessions and recoveries when the […] [Read More]

America’s Auto Auction’s Virginia Beach location is under new management. The company announced it has named Derek Simmerman as general manager and Janice Hicks as assistant GM, citing their “dedication and significant contributions” as well as “a wealth of experience and a deep understanding of the automobile auction industry.” Simmerman learned the auction industry in […] [Read More]

Rebecca Lindland and Tom Kontos agree on several of the factors affecting certified pre-owned vehicle sales trends. The relationship between new and used vehicles is one of those factors. “The new market obviously greatly influences the CPO and used market,” said Lindland, who is senior director of industry data and insights for Cars Commerce. “It’s a statement I make often ... what’s popular new tends to ... [Read More]

Following his press conference at NADA Show 2024, which will be a part of an upcoming episode of the Auto Remarketing Podcast, Cherokee Media Group tracked down Patrick Manzi. The chief economist for the National Automobile Dealers Association gave his views on three topics — used-car retailing, implications of negative equity and prospects for an active service drive at franchised dealerships. Without mentioning specific metrics, Manzi said retail sales of used vehicles ... [Read More]

FordDirect has added another vendor to its growing list of industry partners. The joint venture between joint venture between Ford and its dealers has selected Cox Automotive’s VinSolutions as a data integration partner for its CRM Choice program. Ford dealers and Lincoln retailers will be able to gain access to FordDirect data directly through within […] [Read More]

The Center for Sustainable Energy and the National Automobile Dealers Association have launched an online electric vehicle sales training certification program designed to empower dealership staff to educate car shoppers about the advantages of driving electric. The organizations said the ElectrifIQ training program is aimed at training auto sales staff to better educate their customers […] [Read More]

Auto logistics platform RunBuggy has launched RunBot, a generative artificial intelligence system designed to integrate with RunBuggy’s transportation management platform and act as the central nervous system for orchestrating the automotive shipping process. RunBot represents “a significant leap forward in enhancing user experience and reducing operational overhead,” the company said in a news release, using […] [Read More]

A year ago, TransUnion examined the downturn in vehicle leasing and what elements would be needed for the delivery option to rebound. At last month’s Vehicle Finance Conference hosted by the American Financial Services Association, TransUnion’s Satyan Merchant revisited those findings to project what might happen in leasing and other parts of auto financing for […] [Read More]