CarMax struggled with a difficult macroenvironment in the first quarter of fiscal year 2024 but president and CEO Bill Nash put a positive spin on the market conditions. “What we are seeing now is depreciation, which you would normally see,” he said during the earnings call.  “While it can be a bit of a headwind for the wholesale business, I think overall it is good for the industry because ... [Read More]

In what’s become an annual visit during the Non-Prime Auto Financing Conference, hosted by the National Automotive Finance Association, Davis + Gilbert partner Joseph Cioffi spent some time with Cherokee Media Group’s Nick Zulovich. The pair discussed some of the latest compliance developments as well as how risk is continuing to surface both within finance […] [Read More]

In another episode recorded during this year’s Non-Prime Auto Financing Conference, Informed.IQ director of lending strategies Jessica Gonzalez delved into another way artificial intelligence can help finance companies. Gonzalez explained how AI can help to prevent bias from infiltrating the provider’s underwriting department and more during this conversation recorded at the NAF Association’s annual event. […] [Read More]

Dealership management software provider Reynolds and Reynolds and on-demand vehicle delivery service Draiver have joined in a strategic partnership to launch a new way for dealerships to request rides with Uber from within the DMS. The integration with Uber for Business allows dealership service departments to request rides for customers to and from the shop while […] [Read More]

During the same week independent dealers gathered in Las Vegas for NIADA’s annual convention, it appears managers didn’t feel like gambling in the auction lanes. The latest installment of Market Insights from Black Book showed wholesale values declined another 0.42%, while the estimated average weekly sales rate decreased to 46% last week. “With days to […] [Read More]

J.D. Power’s latest new-car quality study shows quality is on the decline — at a record rate. According to the J.D. Power 2023 U.S. Initial Quality Study, the number of problems per 100 vehicles (PP100) has risen by a record 30 PP100 over the past two years. The study reported an industry average of 192 […] [Read More]

Two of the best-known platforms in the automotive retail industry have added ChatGPT to their respective toolboxes. CarGurus and Edmunds both announced the introduction of plugins that allow users of OpenAI’s popular chatbot to employ its artificial intelligence to make it easier to find information and vehicles that meet their needs. “The car shopping process […] [Read More]

Zeigler Auto Group/Zeigler Racing is hosting a series of meet-and-greet events with Live Fast Motorsports featuring driver Josh Bilicki in the runup to NASCAR’s historic Chicago Street Race on Sunday. Bilicki will be driving the Zeigler.com No. 78 Chevrolet Camaro in the inaugural Grant Park 220. The weekend features a 100-lap race through the streets […] [Read More]

Next up on our series of shows from the Canada’s Used Car Week podcast stage is a conversation with Austin Lavigne of J.D. Power’s ChromeData division. Lavigne and Cherokee Media Group senior editor Joe Overby discuss the “behind the scenes” aspect of ChromeData, electric vehicle trends, the move to “modern retailing,” and much more. Listen […] [Read More]

Micky Watts of Anderson Brothers Bank is the new president of the National Automotive Finance Association. Cherokee Media Group’s Nick Zulovich connected with Watts during this year’s Non-Prime Auto Financing Conference to recap his journey from joining the association more than 10 years ago to now being in a leadership position. The conversation can be […] [Read More]