Coinciding with S&P Global Mobility discovering the average age of vehicles on the road is 12.6 years — an all-time high — Sunbit highlighted its own milestone on Thursday, announcing its buy-now, pay-later financing technology is available at more than 50% of dealership service centers in the U.S. Since launching in the auto services sector, […] [Read More]

Dealership profits are slowing from the astronomical pandemic-era levels, but the buy-sell market remains active, according to analyses by advisory firms in the space. The Presidio-NCM Average Dealership Performance Benchmark shows that an average franchised dealership had a 32.4% year-over-year slide in net pretax profit during the first quarter, following a 20.5% year-over-year decline in […] [Read More]

Experts at Comerica Bank, Cox Automotive and the University of Michigan all tried this week to decipher economic conditions and sentiments of consumers and policymakers. The general conclusion? “This week’s economic data shows a mixed picture,” Cox Automotive chief economist Jonathan Smoke wrote in his weekly column after recapping a variety of trends, including home […] [Read More]

Canada. Land of Canuks, mickeys, double doubles and a 25-piece patio set (IYKYK). It’s also the home of one of the continent’s finest industry events, Canada’s Used Car Week (CUCW). Held in Toronto, this year’s conference will take place June 25-27. Canada’s Used Car Week, hosted by Cherokee Media Group (CMG), is really a combination […] [Read More]

With summer driving season getting into full swing and perhaps your service drive becoming even busier, FrogData rolled out its newest tool this week. FrogData launched FixedOps Mojo, a service management dashboard that’s designed to optimize fixed operations for dealerships. Part of the WarrantyBoost+ solution, FixedOps Mojo leverages artificial intelligence-driven data analytics to provide actionable […] [Read More]

Shortly after his firm advised STELLA Automotive AI on its $19.7 million Series A financing round, The Presidio Group CEO Brodie Cobb joined the Auto Remarketing Podcast for a conversation about the automotive investment landscape. Cobb and Cherokee Media Group senior editor Joe Overby discuss why dealer groups and auto industry incumbents have become busy […] [Read More]

Two automotive technology companies are teaming up with the goal of elevating dealerships’ online presence. Reynolds and Reynolds and DealerOn announced a partnership to integrate DealerOn’s sales and marketing enablement technology with Reynolds’ dealership software. The companies said their development efforts will give dealers the opportunity to “enhance their holistic view of the consumer” through […] [Read More]

Experian’s State of the Automotive Finance Market Report: Q1 2024 showed year-over-year increases in both 30- and 60-day delinquency rates. Perhaps what might be a more useful assessment is how those rates are both lower compared to the first quarter of 2019. Of course, that’s a full year before the pandemic arrived and triggered unprecedented […] [Read More]

Canadian Black Book’s weekly Market Insights report for the week ending May 25 showed a slower rate of decline than recent weeks, as Canadian wholesale prices fell by 0.23% following a 0.38% drop the week before. Only one segment recorded a gain: full-size pickups were up $1. And three other truck/SUV segments (subcompact crossovers, subcompact […] [Read More]

We can use smartphone apps to listen to music, track our spending and waistlines and reconnect with family and friends. And J.D. Power said electric vehicle owners are leaning more on apps than ever. Researchers shared on Wednesday that usage of manufacturers’ mobile apps continues to increase as 90% of EV owners say they use […] [Read More]