The Federal Trade Commission (FTC) wants a larger operating budget and more personnel, and chair Lina Khan made her case last week during a hearing hosted by the Subcommittee on Financial Services and General Government that’s part of U.S. House Committee on Appropriations. Khan is looking for Congress to boost the FTC’s budget “to continue […] [Read More]

Cherokee Media Group has launched an “NAAA 75th” series of its Auto Remarketing Podcast, which commemorates the diamond anniversary of the National Auto Auction Association. Between now and the NAAA World Remarketing Convention in late September, the show will periodically feature auction owners, association executives and other wholesale industry leaders, who will discuss what the association means […] [Read More]

OPENLANE isn’t the only operation involved in the wholesale market to announce a branding move this week. ShipYourCarNow, a provider of artificial intelligence-powered automotive transport services, has launched the SYCN Auto Logistics brand. The company said the decision was made to describe more accurately the full breadth of technology and logistics solutions it can provide […] [Read More]

In this episode of the Auto Remarketing Podcast, Aaron Bickart, executive vice president and general manager of OfferLogix, joins the show to talk about eliminating the disconnect and confusion around the monthly car payment, how macro-economic and auto industry trends (like leasing and vehicle supply) impact his company’s work and much more. The full conversation […] [Read More]

Wholesale vehicle prices in Canada were down both year-over-year and month-over-month in Canada, but export demand is lifting values in some segments, according to Canadian Black Book. Releasing its monthly Used Vehicle Retention Index on Thursday, CBB pointed to the overall stability in wholesale, as prices have eased. The index was at 157.6 in April, […] [Read More]

Epiq Bankruptcy uncovered a pair of notable trends included in the April filing data the firm shared this week. Perhaps more relevant to buy-here, pay-here dealerships are trends Epiq spotted for the first time since April and May of 2019. Analysts said there were back-to-back months with more new cases filed than cases closed per […] [Read More]

From buying cars to happy hour drinks, inflation, interest rates and a turbulent economy are continuing to leave negative ramifications. And the Federal Reserve just pushed interest rates up another 25 basis points on Wednesday. “All bets are off if the U.S. tips into recession,” Cox Automotive chief economist Jonathan Smoke said to close his […] [Read More]

Despite a decline in used retail vehicle gross profit percentage, AutoCanada’s used-car sales climbed nearly 9% in the first quarter, which also helped the retailer achieve robust F&I and parts, service, collision repair profits. In a news release Wednesday outlining its quarterly performance, AutoCanada said it sold 15,290 used retail vehicles overall in Q1, an […] [Read More]

In 2019, as OPENLANE was celebrating its 20th anniversary, Jim Hallett — who at the time was CEO of then-KAR Auction Services — looked back on the company’s 2011 acquisition of OPENLANE as an “inflection point” for KAR that “changed our company overnight.” “Over the years, of all the acquisitions we did, I would look at OPENLANE as being one of the most transformative acquisitions we made in the history of our company,” Hallett said in a January 2019 phone interview. “And we went from being a laggard to a leader with the acquisition of OPENLANE.  “And it didn’t change our company only because we sold more cars. It changed our company because of ... [Read More]

This week, PureCars announced new data and insights regarding dealers’ knowledge of third-party cookie deprecation, customer database health and using first-party data for targeted marketing, as well as familiarity with customer data platform (CDP) technology. Key survey insights from respondents representing franchised dealerships across the U.S. included: Google’s cookie deprecation: —58% of dealers were unaware […] [Read More]