Car IQ is looking to help fleets get needed fuel faster. On Monday, the provider of vehicle payment solutions announced an agreement with HF Sinclair Refining & Marketing, a subsidiary of HF Sinclair, allowing fleets to fuel vehicles using Car IQ Pay instead of a credit card at nearly 1,600 participating sites across more than […] [Read More]

Winds of change in Canada are blowing when it comes to data privacy. Quebec has been one of the first provinces to respond, passing Bill 64 in September of last year. This is the first European-Union-like privacy law, with massive fines, Andrea Amico and Mike Foster shared with Auto Remarketing Canada in May — both […] [Read More]

One of this year’s Emerging 8 honorees now has a new chief revenue officer. Dealer Alchemist, a digital ad agency with a technology-first approach in automotive, announced on Friday the appointment of Jeff Clark as its new CRO. With an impressive track record of success in the automotive industry and a distinguished military career, Dealer […] [Read More]

Two of the large publicly traded dealer groups made moves this week with one modifying its store portfolio and the other highlighting new leadership. Beginning first with Asbury Automotive Group, the Presidio Group said it exclusively advised the company on the sale of McDavid Acura of Austin to the Umansky Automotive Group. According to a […] [Read More]

This week’s flow of industry data continued with Cox Automotive reporting wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 2.1% from April during the first 15 days of May. As a result, Cox Automotive said the midmonth Manheim Used Vehicle Value Index dropped to 225.9, which was down 7.0% from last […] [Read More]

This week, Dominion DMS announced integration with ProMax to give dealers various options to increase efficiency and profitability. The service providers said ProMax has features that will complement VUE DMS and give dealers the tools “they need to be a step ahead of the competition.” Mazda Direct general sales manager Tim Honaker said through a […] [Read More]

A coalition of 24 attorneys general threw their support behind the Consumer Financial Protection Bureau this week, submitting an amicus brief to the Supreme Court The group is urging the court to overturn a decision by the U.S. Court of Appeals for the Fifth Circuit that the AGs say “threatens” the future operation of the […] [Read More]

Carvana, which hit a roadblock last year when its unit sales slowed and its losses did not, said it has made significant progress toward profitability by implementing operating efficiencies and reducing expenses. “We still have a long way to go to achieve our broader goals,” admitted Carvana CEO,Ernie Garcia, during the used-car retailer’s first quarter earnings call on May 4. “But we are on the right path, and we are moving quickly.” The company reported retail unit sales of ... [Read More]

You can decide how connected the timing of these two auto finance trends are. Cox Automotive reported last week that auto credit availability in April tightened to a point not seen in almost two years. This week, S&P Indices and Experian found that the auto default rate for April dropped sequentially by the most basis […] [Read More]

A situation all too familiar to buy-here, pay-here dealerships — their customers dropping their car insurance — appears to be intensifying. With inflation levels at 5% stretching family budgets, findings from the Policygenius Car Insurance Affordability Survey showed 40% of insured drivers say they’re stressed about being able to afford car insurance, a requirement for […] [Read More]