For years, automotive retail has approached digital advertising as a volume game. The prevailing assumption has been that more traffic, more impressions and more leads naturally translate into more sales. However, as inventory costs rise, margins tighten and consumer demand fluctuates across segments, many dealers are discovering a difficult reality: not every vehicle on the […] [Read More]

Amid “a resilient consumer credit landscape,” the latest edition of CreditGauge from VantageScore showed the average auto loan balance in May rose to $25.100, increasing modestly month-over-month and 2.5% year-over-year. Analysts also indicated the balance-to-loan ratio ticked up 0.13% to 64.06% in May and is now 0.25% above the year-ago level. VantageScore said the balance-to-loan […] [Read More]

HGreg is approaching Montreal Canadiens levels of trophy winning in its hometown. The used-car retailer has won the Consumer Choice Award in the Used Car Dealerships category in the Greater Montreal area for the 16th time, HGreg said last week. “Receiving the Consumer Choice Award for the 16th time is an incredible honour and an […] [Read More]

After two years of downward pressure and headwinds, there has been a spark in wholesale prices of electric vehicles. Especially for the segment’s most dominant nameplate. And among internal combustion engine vehicles, fuel efficiency is fueling price retention. That’s according to a pair of reports released by wholesale automotive experts this month. Starting with the […] [Read More]

Black Book watched auction conversion rates drop 4% week-over-week to settle at 58% during the timeframe that ended on Saturday. Analysts explained what might have happened through its newest edition of Market Insights, which also showed overall wholesale values ticking 0.19% lower. “The wholesale market remained stable but selective this week,” Black Book said in […] [Read More]

It’s always helpful to have another “eye” on a used vehicle during an appraisal. Or in CARFAX’s case, a “UVeye.” The two companies announced an integration this week that brings together UVeye’s automated drive-through vehicle inspection platform and CARFAX’s service history data, giving retailers trusted vehicle service history data in their service workflow. Dealers will […] [Read More]

Carvana is bringing Inspection and Reconditioning Center capabilities to its ADESA Sarasota auto auction in Florida, the online auto retailer said Wednesday. Adding IRC capabilities means more reconditioning capacity and a new inventory pool for Carvana’s national network, facilitating wider selection for retail customers nationally and faster delivery for retail customers along the Florida Gulf […] [Read More]

Public and private companies of all sizes sometimes have a chief executive officer. A few industry associations do, too. Count the American Recovery Association in this group, as well. ARA president Todd Case announced on Tuesday the creation of the CEO position, and the association board immediately filled it with Wayne Ray, who already was […] [Read More]

Arra Finance used some terminology from academia on Tuesday when announcing the successful closing of its inaugural auto receivables asset-backed securitization transaction. The nonprime auto finance company said the 4(a)(2) transaction was co-sponsored by a fund managed by Obra Capital, with Goldman Sachs serving as sole structuring agent. According to a news release, the AA […] [Read More]

“Know Your Buyer, Grow Your Lot” is the title of a new research ebook from Cox Automotive, which consulted with the National Independent Automobile Dealers Association on the project. And one major trend that independent dealers should know about their buyers is this: they’re mostly buying because of need and they often are under financial […] [Read More]