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]

Kiwiz, a Montreal-based company that provides pre-purchase, third-party inspections on behalf of consumers, said this week it has expanded into additional Canadian markets. The mobile car inspection service launched in Quebec in January 2022 and is now available in Ontario, plus Vancouver, Calgary, Edmonton, Winnipeg and Halifax. If a shopper plans to buy a vehicle […] [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.  Bek Abdullayev says the driver shortage plaguing the auto transport industry is getting worse. Abdullayev is CEO of Super Dispatch, which he describes as […] [Read More]

Amid climbing new-car prices and interest rates, there’s growing reason for many consumers to choose an alternative. But without low-cost options in the new-car market, pre-owned may be the choice for many, it seems. Hard to believe that in early 2022, the average price of a lightly used late-model vehicle was actually 8.5% higher than its new-car counterpart, according to iSeeCars.com. But times have certainly changed ... [Read More]

Want to make major money at a dealership? Be a successful F&I director. According to the 2023 survey of F&I managers and directors orchestrated by Finance Manager Training, 35% of professionals who participated earned total income of $250,000 or more. The depth of that income bracket was bigger than five of the seven other compensation […] [Read More]

We all make mistakes, but they can become quite costly at finance companies, boosting their interest in using artificial intelligence more often. Informed.IQ recently commissioned an industry-wide survey of auto finance executives to identify the key areas where they are leveraging artificial intelligence into their workflows and processes, as well as the challenges they face […] [Read More]