IAA has added new artificial intelligence and machine learning tools to its selling platform. The auction company — a subsidiary of RB Global, Inc., a marketplace for insights, services and transaction solutions for commercial assets and vehicles — announced the launch of IAA Vehicle Score, IAA Vehicle Value and the IAA Sales Decision Center, all […] [Read More]

Penske Automotive Group, which operates almost 500 auto and truck dealerships in six countries, had added two more to its collection. Penske announced it has acquired BMW of Wilmington and Porsche Wilmington in Wilmington, N.C., from Baker Motor Company. Both dealerships have earned their respective brands’ highest honor:  BMW of Wilmington was named a BMW […] [Read More]

A new study by Coast examined electric vehicle charging station density versus traditional gas stations in the U.S. Researchers from the smart fuel card and modern expense management platform built on the Visa network found that the U.S. averages about 104 gas pumps per 1,000 road miles, compared to just 22 EV charging ports. “As […] [Read More]

Perhaps two trends from the auto segment of the Q2 2023 Quarterly Credit Industry Insights Report (CIIR) from TransUnion might calm finance companies on the risk front. TransUnion reported the average amounts financed for new vehicles have stabilized year-over-year, while the averages at origination for used financing have declined of 6.3% year-over-year. Furthermore, TransUnion indicated […] [Read More]

New-vehicle sales were up in the first half of 2023, fueled in part by the continued rise of electric vehicles, according to the latest research from Urban Science. The 2023 midyear Automotive Franchise Activity Report found sales rose by 13% over the same period in 2022, primarily driven by non-retail sales and EV adoption. Based […] [Read More]

Feldman Automotive Group, which owns and operates 18 auto and RV dealerships in Michigan and Ohio, is again partnering with Mark Wahlberg and Corewell Health Foundation-Southeast Michigan to host the Feldman Automotive Children’s Miracle Celebrity Invitational golf tournament. All proceeds from the Aug. 28 event, featuring appearances by more than 50 national and local celebrities, […] [Read More]

The American Recovery Association previously stated that the organization’s next executive director would have to possess eight distinct characteristics, including industry experience, public speaking ability and more. The ARA found its next professional leader, announcing well-known industry figure Tony Long as its new executive director on Thursday. According to a news release, Long will start […] [Read More]

This September, more auto enthusiasts than ever are expected to come out for the third annual Drive Festival. Coined as Canada’s “preeminent outdoor automotive event,” the festival will be held at the Canadian Tire Motorsport park in Bowmanville, Ontario from Sept. 8-10. The event’s management expects more than 25,000 “autophiles” to attend the interactive festival, […] [Read More]

AutoTrader’s newest Price Index Report for Canada reflects growing consumer intent-to-buy and an industry still plagued with supply issues. In an effort to further drill down into the index results and what they mean for the Canadian pre-owned market, Auto Remarketing Canada connected with AutoTrader analysts. According to Baris Akyurek, vice president of insights and intelligence at AutoTrader, the index reveals some “interesting variations” in ... [Read More]

Next up on our NAAA 75th series commemorating the diamond anniversary of the National Auto Auction Association is a conversation with Lisa Franz, who is the general manager of Big Valley Auto Auction in Texas. Franz is also a member of the training and education committee of NAAA and is a 2019 Women in Remarketing […] [Read More]