That “summertime slowdown” Black Book previously mentioned is intensifying quickly, as analysts spotted the largest single-week wholesale value drop since mid-January. According to the newest installment of Market Insights, Black Book reported that wholesale prices sunk 0.73% last week even as the estimated average weekly sales rate improved “slightly” to 47%. “Sellers are beginning to […] [Read More]

Peer-to-peer car sharing marketplace Turo has been chosen as GO Transit’s official car sharing partner. Turo and GO Transit are partnering to allow Ontario riders to request vehicle delivery at GO stations, located across Canada’s Greater Golden Horseshoe region. The secondary region of Southern Ontario is the most densely populated and industrialized in Canada. A […] [Read More]

Cox Automotive said “June marked an important turning point” in connection with credit being available to consumers to acquire vehicles. But the subprime segment remains on a downward trend. The Dealertrack Credit Availability Index for all types of auto financing indicated access to auto credit improved in June after hitting a two-year low in May. […] [Read More]

Some operators consider their buy-here, pay-here dealerships to be “no-frills” businesses. That happens to be the moniker SVR Tracking gave its latest GPS tracking device. This week, the provider of asset management solutions for the automotive industry released SVR Repo, which is designed to a simple, low-cost GPS solution for dealers whose only goal is […] [Read More]

Buy-here, pay-here dealers might be seeing vehicle shoppers fresh off a bankruptcy filing if they haven’t already. According to data provided by Epiq Bankruptcy, there were 217,420 total bankruptcy filings during the first six months of 2023, representing a 17% increase from the 185,352 total filings during the same period a year ago. Epiq reported […] [Read More]

The Policaro Group announced it has broken ground on a brand new Policaro Acura site, as well as a new facility for its Northwest Lexus relocation. The dealer group is calling its new Acura facility especially “innovative”, designed to further modernize the auto industry and brand name in Canada. Policaro Acura turned 35 in 2022, […] [Read More]

Used-vehicle sales are likely in for a somewhat bumpy ride in the second half of 2023, with interest rates and high prices putting downward pressure on pre-owned, according to the “Mid-Year Update & Intelligence Report” from CarGurus. But there was reason to be hopeful when looking at the used-car data from June. In its analysis, […] [Read More]

Dealership buy-sell veteran Nate Klebacha has been named managing director of The Presidio Group LLC, an independent merchant banking firm focused on mergers and acquisitions, capital raising and investments in the automotive retail and consumer mobility sectors. Klebacha will focus on Presidio’s dealership mergers and acquisitions business. In his 20-year career, Klebacha has been involved […] [Read More]

Digital automotive marketplace CarGurus has appointed Manik Gupta, a 25-year veteran of the technology sector, to a newly created seat on its board of directors and audit committee. Gupta is currently corporate vice president of Microsoft Teams, which serves more than 300 million users among enterprises, small and medium businesses, consumers and the developer ecosystem. […] [Read More]

Lotlinx, a VIN-specific data platform for inventory management, has expanded its executive team with four hires in the first six months of 2023. Alison Yesilcimen is now the company’s chief revenue officer, Fabian Macken was hired as senior vice president and chief customer officer, Carla Wade is on board as senior vice president of business […] [Read More]