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]

In this edition of the Auto Remarketing Podcast’s NAAA 75th series, Cherokee Media Group’s Bill Zadeits talks with BSC America CEO Ray Nichols, who was the 2002 president of the National Auto Auction Association. Nichols was also a 2008 inductee into the NAAA Hall of Fame and was named  an NAAA Industry Pioneer in 2022 […] [Read More]

The Low Payment Kings, powered by Mahalak Auto Group, has partnered with ESA to invest in new rooftop and ground-mounted solar panel arrays to be installed at three of the group’s Florida dealerships – Dodge Chrysler Jeep RAM of Winter Haven, Posner Park Chrysler Dodge Jeep RAM FIAT and Lake Wales Chrysler Dodge Jeep RAM. […] [Read More]

Vroom CEO Tom Shortt noted during the company’s second quarter 2023 earnings call on Aug. 9 that its e-commerce units grew approximately 5% sequentially. “This quarter is the first quarter with sequential growth since we realigned the business and introduced our long-term roadmap in the second quarter of 2022,” Shortt said. That long-term roadmap remains unchanged, and it includes three key objectives and four focused strategic initiatives. The objectives are ... [Read More]

CDK Global says it’s about to make running a dealership a whole new experience. The automotive retail software provider has launched the CDK Dealership Xperience, an open and integrated platform designed to provide a foundation of built-in functionality that unifies workflows at the dealership into a single experience. In a news release, the company said […] [Read More]

Next week’s IARA Summer Roundtable will include something new. Global Remarketing Opportunities for Women will make its official debut at the event, coming up Aug. 22-24 in Chicago. GROW was founded by Shelly Frank of DAA of the Southwest and DAA of the Rockies, Kelly Bianchi of AuctionVcommerce and Sheila Tedesco of Lobel Financial to […] [Read More]

Cox Automotive noticed that July was the best conditions to get your paper bought since March, but the subprime share still softened. The July reading of Dealertrack Credit Availability Index came in at 97.4, marking the second straight month of upticks. The 0.2% increase in July pushed the index to its highest reading since March […] [Read More]

Global financial technology company Sopra Banking Software (SBS) wants a great presence in the U.S. auto market. Last week, SBS announced plans to expand its work with automotive companies in the U.S. The company currently works in more than 50 countries with manufacturers including Mercedes-Benz, Toyota, BMW, Nissan and Volvo, as well as banks and […] [Read More]

When it comes to building business relationships, J.D. Power experts see that there is no substitute for an effective face-to-face sales meeting. According to the J.D. Power 2023 U.S. Dealer Financing Satisfaction Study, 77% of dealership F&I teams say in-person meetings with sales reps are the key to increased business with finance companies. That assertion […] [Read More]

Formula Automotive Consulting and Technologies, a new company specializing in warranty reimbursement for automotive dealers, announced the official launch of its consultative services. Spearheaded by fixed operations experts, Formula Automotive looks to solve the pain point of warranty rate disparity for dealers. The company said it can provide both parts and labor submissions with optimal […] [Read More]