ADESA chief economist Tom Kontos demonstrated his vast vocabulary again to explain what’s happening with wholesale values, detailing how prices are coming down from “exorbitant” levels and what might cause some “lumpiness” later this year. Auto Remarketing connected with the industry expert this week as he released his newest installment of the Kontos Kommentary. According […] [Read More]

After a successful four-year run in Europe, SPOTiCAR is coming to America. Stellantis, manufacturer of Chrysler, Dodge, Fiat, Jeep and Ram, among other brands, said on Thursday it is expanding its SPOTiCAR used car program into the U.S. Launched in 11 European countries in 2019, SPOTiCAR offers manufacturer-certified used vehicles available for sale that Stellantis […] [Read More]

Many colleges and universities started their fall semesters this week. Perhaps those students already had a vehicle. But for the ones who do not, Kelley Blue Book compiled two lists highlighting the best used vehicles for college students. KBB first built a list of a dozen models that experts said are the best used cars […] [Read More]

A few days after S&P Global Ratings shared its perspectives about how auto securitizations are performing, Fitch Ratings offered its assessment, too, focusing on the subprime sector. Analysts indicated Wednesday that subprime auto ABS loan performance deterioration has recently moderated in line with typical seasonal trends but remains vulnerable to recessionary pressures. “Macroeconomic headwinds will […] [Read More]

Dominion DMS has integrated Armatus Dealer Uplift into its VUE system, a move designed to help dealers increase their annual warranty parts gross profits. Armatus works with more than 6,200 dealers, helping them get 13,400 approved submissions in all 50 states. It has been endorsed by 20 state dealers associations. The company said Armatus is […] [Read More]

Canada’s Lift Auto Group has purchased a new Oakville, Ontario, collision center. The established CSN Automacs is now under ownership of the Lift Auto network of repair shops. Lift Auto said in the press release announcing the news that it is maintaining the same “great staff” at its new collision center whom the customers are […] [Read More]

Automotive marketplace AutoTrader.ca is bringing a new AI-powered solution to Canada’s auto dealers. Optimizer – AI was launched in 2021 based on AI technology and has been enhanced after two years of research, testing and optimization. Now, Upgrade Optimizer – AI is hitting the market after work in “aligning to dealer needs, delivering optimal results […] [Read More]

Over the past two weeks, most vehicle segment Canadian Black Book tracks saw declines that went against seasonal norms. During the work week ending on Aug. 12, wholesale values continued to fall above seasonal rates, with an average drop of 0.34%. And for the week ending Aug. 19, wholesale values fell by 0.20%. Once again, […] [Read More]

North Carolina-based Anderson Automotive Group has boosted its presence in South Carolina with the purchase of seven dealerships from S.C.-based MCE Automotive Group, according to a news release from Kerrigan Advisors. With the acquisition of Toyota of Greer, Kia of Greenville, Kia of Greer, Hyundai of Greer, Genesis of Greer, Nissan of Greer and Mike […] [Read More]

Not long after a J.D. Power study showed deteriorating satisfaction with public EV charging stations, Electric Era this week announced the close of its Series A financing to grow its network of proprietary PowerNode EV high-speed charging stations. According to a news release, HSBC Asset Management led the Series A financing with participation from SQM […] [Read More]