BacklotCars president Justin Davis sat down with Cherokee Media Group’s Joe Overby at NADA Show 2023 in Dallas for a conversation about the integration of BacklotCars and CARWAVE, electric vehicle trends and how BacklotCars has worked with other pieces of KAR Global, plus much more. To listen to the conversation, click on the link available below. […] [Read More]

Digital auto auctions, many of which gained increasing popularity during COVID-19, are here to stay. But physical auctions are still necessary in an industry literally full of moving pieces. From a boots-on-the-ground perspective, auction companies, even digital ones, need physical infrastructure. For instance, physical locations are often needed to ... [Read More]

The dealerships changing hands this week involved one that retails units on four wheels and another that specializes in deliveries for units on two wheels. The Dave Cantin Group (DCG) closed the transaction of Carson Toyota — one of the largest Toyota dealerships in Carson, Calif. — to Fletcher Jones Automotive Group. And Performance Brokerage […] [Read More]

While acknowledging there has been some portfolio softening, Cox Automotive chief economist Jonathan Smoke cautioned about taking an approach “to create the view that the sky is falling.” Smoke explained his reasoning in a company podcast posted on Friday with Deshaun Sheppard, a lenders solution expert with Dealertrack. “Yes, we are seeing a return to […] [Read More]

Cox Automotive said Thursday that executive Derek Hansen has been named vice president of operations for its Inventory Solutions Group, where he will lead the company’s wholesale-to-retail inventory management efforts. Specifically, Hansen will focus on vAuto’s new Variable Management strategy and developing the Kelley Blue Book Instant Cash Offer and Upside products. Hansen has been […] [Read More]

Brian Kramer, EVP of CARS and general manager of Accu-Trade, joined the Auto Remarketing Podcast at NADA Show 2023 in late January in Dallas. Kramer and Cherokee Media Group’s Joe Overby discuss how Accu-Trade has worked with its fellow CARS companies post-acquisition, Accu-Trade’s recent product launches and more. To listen to the conversation, click on the […] [Read More]

If you’ve heard of the 80/20 Rule (otherwise known as the Pareto Principle), you know it suggests that roughly 80% of consequences come from 20% of causes. In other words, 80% of our outcomes are driven by 20% of our efforts. So shouldn’t we all be focusing on the 20% we do best? But when […] [Read More]

A total of 80 dealers have something else to celebrate. On Thursday, Edmunds announced winners of the 2023 Edmunds Five Star Dealer Awards that went to 80 dealers nationwide for outstanding customer satisfaction ratings. Edmunds said 11 of those honorees also earned the Edmunds Five Star Premier Dealer designation. To qualify for a Five Star […] [Read More]

In their third quarter earnings call, Vroom executives said the firm would purposely slow down in order to improve the online used car retailer’s customer experience. They warned it would impact fourth quarter results. Boy did it. “Sequential declines in e-commerce unit volumes impacted e-commerce gross profit by approximately $12 million. Additionally, the impact of ... [Read More]

Experian made the official declaration on Thursday. In the fourth quarter of 2022, credit unions held the largest percentage of the vehicle finance market for the first time. According to Experian’s State of the Automotive Finance Market Report: Q4 2022, credit unions accounted for 26.85% of all vehicle financing during the quarter, comprising the largest […] [Read More]