The auto dealership buy/sell market continues to gain momentum toward a record-breaking year, according to the latest data from Kerrigan Advisors. Kerrigan’s Blue Sky Report for mid-year 2023 showed 211 transactions representing 357 franchises were completed in the first half of the year. That’s up 26% from 2022, a faster pace than the typical full-year […] [Read More]

A new startup company has launched, with the goal of revolutionizing vehicle title transfers. Cario Inc. is a blockchain-based platform that founder and CEO Nathan Hecht said is designed to solve one of the auto industry’s most difficult pain points. “There are over 276 million vehicles on the road today in the U.S.,” he said. […] [Read More]

With at least one expert explaining expectations are “becoming a reality,” buy-here, pay-here dealerships and finance companies that still will book paper with consumers in an active bankruptcy are getting a deeper potential customer pool. According to data provided by Epiq Bankruptcy, August marked 13 consecutive months that total, individual and commercial bankruptcy filings have […] [Read More]

Two experts from the Federal Reserve Bank of Chicago published a paper this week explaining why they think policymakers raising interest rates not only will curb inflation but will steer the economy away from a recession. Stefania D’Amico and Thomas King, who are both senior economists and economic advisors at the Chicago Fed, explained the […] [Read More]

Late last week, Unifor selected Ford Motor Co. as the “target” for Detroit 3 negotiations in relation to pending auto strikes in Canada. Negotiations with Ford as the target automaker will set the pattern agreement for the process. As to why Ford was selected, representatives from Unifor said Ford is situated to come to an […] [Read More]

Canadian used-car prices continued to drop this past week by over a quarter of a percent. Many segments saw a change in average value of more than $100. The average drop came in at 0.26%, according to Canadian Black Book’s weekly analysis of the market, with car segments only seeing a decline of 0.09%. On […] [Read More]

Brooklyn N.Y., dealer group Plaza Auto Mall surpassed a milestone last week during its annual Backpack Giveaway and Fun Bash. During the event, held Aug. 31 at the dealership’s location on Nostrand Ave., the Plaza Auto Mall team distributed more than 650 backpacks filled with essential school supplies to support local families in need. That […] [Read More]

Tom Adams got into the auction business straight out of the Navy in 1970. It was a decidedly different time for the auto auction business. “Auctions back then were independent mom and pop businesses. Entire family worked the auction,” said Adams. “Facilities were pretty meager. There was one lane and a carnival kind of atmosphere.” The association’s auction members’ facilities are now often huge or even online. As the NAAA prepares to celebrate its 75th anniversary, some things remain the same, however. It is still an organization that ... [Read More]

Fullpath, an automotive customer data and experience platform, has joined with Google’s vehicle ads program in an integration designed to streamline data, reduce manual work and increase efficiencies for North American automotive dealerships. Fullpath said its platform helps customers execute marketing campaigns more efficiently. With the integration, automotive agencies and dealership in-house marketing teams can […] [Read More]

Vehicle subscription service Flexcar continued its drive toward a “delivery-first model”, announcing it has begun offering delivery to residents in the Atlanta metropolitan area. Atlanta is the second market to offer Flexcar’s delivery service. The company began delivery in Massachusetts last month. “Buying or leasing a car is more expensive and inconvenient than it’s ever […] [Read More]