While still a relatively small piece of the overall wholesale market, the tide is turning for electric vehicles at auction. There were close to 9,800 electric vehicles sold through Manheim’s wholesale channels in the first quarter, an all-time high. It also beat year-ago figures by 40% and was 82% higher than Q1 of 2021, parent company Cox Automotive said during a presentation last week around the latest Manheim Used Vehicle Value Index. The 9,796 EVs sold through Manheim in Q1 also ... [Read More]

Cherokee Media Group on Monday announced this year’s honorees for the Emerging 8 award program. Established in 2018, this award program honors companies that improve a specific aspect of the automotive industry through technology. The newest honorees include: —Carmigo —Dealer Alchemist —EpicVIN —LendBuzz —STELLA Automotive AI —Turn Automotive —WrenchWay —Work Truck Solutions “We are thrilled […] [Read More]

Along with announcing two management promotions, Constant recently created a new executive role and filled it with a professional who formerly was chief operations officer at Credit Union Loan Source. Taking on the position of chief growth officer at the portfolio management software company is RuthAnn Riggs, who will lead the expansion of Constant’s innovative […] [Read More]

Nordis Technologies recently selected Steve Dubner as vice president of product management. The provider of omnichannel customer communications management and payments technology solutions said Dubner will lead the innovation and advancement of the company’s Expresso suite of products and work closely with chief operating officer Nicole Miller in building and delivering products and services. Before […] [Read More]

Dominion DMS announced a partnership on Thursday with Dealership For Life, which helps dealers in creating programs for branding, program administration, staff training and generating retention, sales and service profits. “Customers are the lifeblood of a dealership, and it is imperative to raise customer satisfaction to the highest level possible,” said Arlene Clements, VP of […] [Read More]

This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine.  It is available for Cherokee Media Group Premium subscribers now.  While they currently represent only about 6% of U.S. auto sales, battery electric vehicles are already making their impact felt in dealerships’ service departments. BEV owners’ dissatisfaction with their service experience helped pull down the overall score on J.D. Power’s 2023 U.S. Customer Service Index Study. That needs to be fixed ... [Read More]

This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine.  It is available for Cherokee Media Group Premium subscribers now.  When it comes to giving buyers and sellers accurate information about the condition of vehicles being offered for sale, auction companies are leading way with innovative artificial intelligence and machine learning technology coupled with traditional hands- and eyes-on inspections. Doug Hadden, ACV vice president of field initiatives, said it boils down to this ... [Read More]

For the past few years auto dealers have enjoyed unprecedented market conditions with record profits in both new- and used-vehicle sales. However, excluding a brief reprieve in February and March, the tightening of the consumer market and the subsequent drop in wholesale values has created a dynamic where many operators are struggling to turn a […] [Read More]

Automotive Ventures said Thursday it is closing its new DealerFund to new investors at the end of the month. The automotive technology and mobility venture capital firm announced the launch of the DealerFund in March 2022 as a means to help dealers “navigate through the next decade of unprecedented change, invest into and participate financially […] [Read More]

Though it appears March did not continue the year-over-year gains from the first two months of 2023, certified pre-owned vehicle sales in the first quarter were close to 9% stronger than Q1 2022 numbers. That’s according to Motor Intelligence’s preliminary numbers as of Thursday that were provided to Auto Remarketing. Through March, there have been an estimated ... [Read More]