Being the chief executive officer of a startup evidently isn’t quite as lucrative as it once was, according to Kruze Consulting. The startup accounting and CFO consulting firm servicing more than 800 venture funded startup clients released new data on CEO salaries last week. While the salaries of startup CEOs declined on average, Kruze Consulting […] [Read More]

Cox Automotive reported that credit access improved in March, even within the subprime space. However, Open Lending Corp. still has notable concerns about the sector stemming from findings contained in a new Near- and Non-Prime Consumer Update. The risk analytics solutions provider for financial institutions said its latest research uncovered disproportionate economic impacts on the […] [Read More]

Carvana has teamed with gaming and entertainment company NRG for a giveaway aimed at gamers. In a campaign that started Wednesday and runs through April 24, the online used-car retailer is offering a chance to win a Tesla Model 3 — delivered personally to the winner’s door by NRG squad member and Rocket League content […] [Read More]

A car is transportation, first and foremost. But as in-vehicle entertainment systems have become more prevalent, they also have become an essential part of the driving experience. That is evidenced by a recent survey of 1,015 vehicle owners conducted by Censuswide and commissioned by DTS, a wholly-owned subsidiary of entertainment technology company Xperi Inc., which […] [Read More]

When tax season arrives, dealers know customers are coming — and they need cars to sell them. Not surprisingly, then, the monthly Cars Commerce Industry Insights Report for March showed a big surge in inventory. The report found used-car supply jumped 7.6% from February to March, based on the company’s marketplace inventory, as dealers stocked […] [Read More]

CallRevu, a provider of automotive call monitoring systems, announced it has developed an artificial intelligence-powered agent training and coaching platform in collaboration with AI-first technology company iWish AI. The platform, called TestTrack, will be released later this year as part of CallRevu’s training suite. The platform, which the company said is “the next phase of […] [Read More]

Sales of electric vehicles continue to grow in the U.S., but a new report shows the pace of that growth has slowed considerably. According to sales data analyzed by Kelley Blue Book in its Q1 2024 Electric Vehicle Sales Report, Americans purchased 268,909 new EVs in the first quarter. That’s up 2.6% year-over-year, but down […] [Read More]

This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine. It is available for Cherokee Media Group Premium subscribers now. During discussions with vehicle transport industry representatives, a common theme emerges: The industry has lagged behind the freight shipping industry in the area of technological innovation. “They have been a lot more tech forward than us historically,” said Mike Scenna, vice president of sales and operations for Preowned Auto Logistics. “We often say we’re 10, 15 years behind the freight side of the house,” said Joe Kichler, vice president of logistics for Cox Automotive. But that seems to ... [Read More]

In a new series of the Auto Remarketing Podcast, Cherokee Media Group interviews “Dealer Entrepreneurs” — auto retail leaders who in addition to their roles at dealerships have also launched outside companies/startups in the automotive space. Next up in this series is a conversation with Joe Shaker, co-founder and CEO of TruVideo and owner of […] [Read More]

CarMax’s financial report for the 2024 fiscal year mirrored the used-car industry as a whole. Retail sales volume is on the way up – but revenue and profits were down slightly. The used-vehicle retailing giant’s retail sales rose by 1.3% for the fiscal year, which ended Feb. 29, reaching 172,057 units. Revenues from those sales, […] [Read More]