A “turning point.” That’s how AutoIMS described the third quarter for the wholesale auto industry, which hit a few “firsts” in certain consignment metrics included in the company’s Industry View report. The report, released quarterly, is a “compendium of metrics featured in the AutoIMS Sales Scorecard that reflects the AutoIMS database (with a few needed […] [Read More]

Two of the latest moves by TrueCar have dealers at the focal point. Along with piloting a new online credit application feature, TrueCar announced the election of a new member to board of directors who happens to be the general manager of a franchised dealership. In board changes effective on Oct. 27, TrueCar welcomed Capistrano […] [Read More]

Geopolitical turbulence and the fragile and volatile nature of the critical raw-material supply chain could curtail planned expansion in battery production—slowing mainstream electric-vehicle (EV) adoption and the transition to an electrified future. Soaring prices of critical battery metals, as observed by S&P Global Commodity Insights, are threatening supplier and OEM profit margins. This situation has […] [Read More]

Perhaps 2022 is just the year of the acquisition — from auctions to artificial intelligence software providers to dealerships. The latest move arrived on Tuesday, as Impel, a provider of digital automotive engagement software and data, announced that it is acquiring CarLabs.ai, a U.S.-based provider of conversational AI products for the automotive industry. Impel highlighted […] [Read More]

According to the newest installment of Black Book’s Market Insights, wholesale prices softened another 1.19% last week, prompting analysts to wonder when buyers and sellers will find “middle ground” in the market. Black Book explained its reasoning, as its estimated average weekly sales rate remained at … [Read More]

Just before Halloween night, Credit Acceptance announced an addition to its senior leadership team. Ravi Mohan joined the subprime auto finance company as chief technology officer as of Oct. 24. In his role, Credit Acceptance said Mohan will be responsible for the technologies that support the company's team members, dealers, and consumers, implementing those technologies […] [Read More]

Spartan Auto Group has sold its Spartan Toyota, Wolverine Toyota and Lexus of Ann Arbor to Germain Automotive Partnership and has sold its Lexus of Lansing store to Serra Automotive. The transactions were announced by Kerrigan Advisors, which represented Spartan Auto Group and the Criscuolo family. “It was our honor to work with the Criscuolo […] [Read More]

AutoCanada said Monday it has acquired Kavia Auto Body in Saskatoon, Saskatchewan. The purchase of the collision center, which has been open for nearly 40 years and is an SGI Elite collision center, is AutoCanada’s fifth acquisition in the past three months. Kavia Auto Body is located near AutoCanada’s Dodge City Auto and Saskatoon Motor […] [Read More]

When the final results are tallied, look for October’s used-car sales market to be down double-digits from a year ago, but steady with September. In a forecast released Friday, TrueCar projected slightly less than 3 million used-car sales for October, which would be a 13% year-over-year decrease and static month-over-month. Through nine months of the […] [Read More]

Two dealership service providers now are working together to help managers get their inventory to stand tall on the front line faster. Dealer Image Pro, a leader in professional photo, video, and interactive 360-degree software for dealerships, announced it has integrated its Photo Assistant and Autoport software with Rapid Recon’s reconditioning workflow software to improve […] [Read More]