Wholesale vehicle prices have begun to climb again after three months of declines, but that didn’t slow down used car sales in August, according to the latest monthly report from ADESA chief economist Tom Kontos. The new Kontos Kommentary, released this week, using ADESA US Analytical Services’ monthly analysis of auction industry used vehicle prices […] [Read More]

ADESA Auctions has introduced a new tool designed to help provide better transparency and efficiency in buying and selling electric vehicles at auction. ADESA’s advanced battery health scoring process, created in collaboration with Recurrent and AutoIMS, “sets a new industry standard,” the company said in a news release. In 2022, ADESA partnered with Recurrent in […] [Read More]

The latest industry survey by Protective Asset Protection sought to get a better understanding of growth patterns for online research and sales of vehicle transactions and F&I product offerings at dealerships across the U.S. The provider of F&I programs and services conducted the online survey in August with more than 300 dealership executives participating. According […] [Read More]

According to the United Auto Workers update posted on Wednesday, 18,600 union members are now on strike at 41 Big 3 manufacturing facilities in 21 states. The ramifications in the used-vehicle space, particularly the wholesale market, continue to evolve. Black Book reported Tuesday that wholesale prices dipped just 0.22% last week. And with dealers concerned […] [Read More]

Graham Ourisman Automotive’s sales numbers will get a big boost from its latest acquisition. The dealer group purchased McGeorge Toyota in Henrico, Va. — ranked No. 4 in sales volume among franchise dealerships in the state — from Rod McGeorge and the McGeorge Family of Dealerships. The new acquisition, to be renamed Ourisman Toyota of […] [Read More]

The keynote presentation by economist Elliot Eisenberg could have been titled “I’m a little nervous, but I’m not terrified,” since he said just that multiple times Tuesday morning when pointing out turbulent trends connected with consumers’ financial health and other parts of the economy. When Eisenberg conceded that an official recession might arrive sometime in […] [Read More]

Ford Canada and Canadian auto worker union Unifor reached a new national labor agreement this past weekend, avoiding potential strikes by auto workers across the automaker’s plants. Ford Canada leaders expressed the contract will ultimately improve parts delivery service to the OEM’s more than 400 dealers. The new contract includes wage increases, bonuses, additional paid […] [Read More]

Mercedes-Benz Canada has another new development to come out of its corporate citizenship initiative Driving Your Future. This includes a long-term partnership with Big Brothers Big Sisters of Canada (BBBSC). The automaker will be working closely with the global organization that helps kids reach their full potential via the power of mentorship. Mercedes-Benz, its global […] [Read More]

The auto auction industry’s two most prominent associations announced a collaboration to work together on issues concerning electric vehicles. The National Auto Auction Association and International Automotive Remarketers Alliance are joining together with a focus on topics such as safety, standards and education for the benefit of the industry. The associations agreed to collaborate last […] [Read More]

John Poteet, the longtime leader of Louisiana’s 1st Choice Auto Auction, was named an Industry Pioneer by the National Auto Auction Association during the NAAA World Remarketing Convention in Chicago. In a news release, NAAA said Poteet was honored for his inclusive and innovative leadership and outstanding service to the wholesale auto auction industry, his […] [Read More]