Despite headwinds, used-car sales are “gaining momentum” in what appears to be a bit of a summer “surprise,” according to a Cox Automotive analysis. Based on vehicle registration data, the company estimates there were 3.02 million total used vehicles sold in July, up from 2.96 million in June. While that’s down from July 2022, sales […] [Read More]

Black Book senior vice president and chief data science officer Alex Yurchenko told Auto Remarketing on Tuesday afternoon that last week’s wholesale value decline was the largest for a single week in at least 10 years. Black Book shared through its newest installment of Market Insights that wholesale prices decreased 1.45% during the week that […] [Read More]

DealerCue Automotive Corp., maker of inventory acquisition and management platform VINCUE, has completed a Series B investment round led by global automotive services firm Holman and backed by venture capital firms Autotech Ventures and Automotive Ventures. The deal represents the first major institutional investments for VINCUE, which the company said enables it to scale operations, […] [Read More]

Zeigler Auto Group’s collection of dealerships in the Midwest continues to grow. The group upped its total to 41 by acquiring Subaru stores in Lafayette, Ind., and Fort Wayne, Ind. from Rohrman Automotive Group. The dealerships, formerly known as Bob Rohrman Subaru and Bob Rohrman Subaru of Fort Wayne, have been renamed Zeigler Subaru of […] [Read More]

TradePending, a sales enablement and consumer experience software platform for car dealerships, has acquired Snapcell, a software-as-a-service automotive video marketing platform designed to help car dealerships build trust and improve customer engagement through personalized video solutions. Financial terms of the transaction were not disclosed. TradePending is backed by Capstreet, a Houston-based lower middle market private […] [Read More]

Multiple sources of auto-finance data and more intriguing economic trends surfaced in recent days, with experts touching on defaults, interest rates and the possibility of a recession. Let’s begin this roundup with the auto portion of the S&P/Experian Consumer Credit Default Indices. Experts determined the July auto default rate came in at 0.82%, ticking up […] [Read More]

With revenues climbing from a year ago, AutoCanada chairman Paul Antony and his team dove deep on how various operational initiatives have pushed the publicly traded dealer group. These initiatives, including selling more pre-owned cars while keeping less inventory in stock, were supported by “robust market conditions,” said Antony during a call to announce and analyze AutoCanada’s second-quarter operating results. "New light inventories have begun to replenish, and this coupled with high demand following the pandemic supply constraints has resulted in [Read More]

Wholesale vehicle prices fell by over 1% year-over-year in July, continuing a slow march down from March 2022 highs. More specifically, the Canadian Black Book Index tracking auction prices dropped by 1.4% from July 2022. The monthly drop was slight, declining by 0.3% from June. Last year, the industry saw prices spike beyond historical highs […] [Read More]

Demand for quality used vehicles is up across the country. There’s nowhere this trend is more evident than in the certified pre-owned vehicle market. July marked the 11th consecutive month where Hyundai Canada set a record CPO sales tally for the respective month.  And June was the program’s best month ever, as it moved 1,940 CPO units. Through July, year-to-date sales are ... [Read More]

There are so many ways for a consumer to get a realistic expectation of what their trade-in is worth, and yet there are still those dealers who try the proverbial lowball and “steal the trade.” Why? The risk of alienating the customer can’t possibly outweigh the potential rewards. Trade-ins literally outperform car purchases 2-to-1. The NADA […] [Read More]