At the end of 2022, used-vehicle prices were starting to slow from unusually high rates, and inventory levels were on the upturn — as the auto market and consumers tried to navigate the results of the Fed's latest interest rate moves. Cox Automotive kicked off 2023 by exploring many of these trends as well as forecasts […] [Read More]

Carvana might be having its well-documented retail and stock price challenges, but the online used-vehicle retailer still is getting set for the Daytona 500. On Thursday, Carvana announced a new nationwide sweepstakes, offering the VIP treatment with seven-time NASCAR champion Jimmie Johnson as he returns to Daytona Beach, Fla., for one of the biggest races […] [Read More]

Recent developments from both federal- and state-level law enforcement include matters associated with refunds connected to guaranteed automobile protection (GAP) as well as a dealership defrauding consumers. Connected to industry-wide compliance challenges highlighted multiple times by Allied Solutions, Colorado attorney general Phil Weiser recently announced that his office secured $4 million in refunds for Colorado […] [Read More]

National Auto Auction Association CEO Tricia Heon has resigned, the trade group said Thursday, and Paul Lips will serve as interim executive director. Heon had been with NAAA a dozen years and previously was its chief operating officer. “With the deepest of gratitude for her many years of commitment and contributions, the Board of the […] [Read More]

In this special Used Car Week episode of the Auto Remarketing Podcast, we feature dealer trainer expert George Nenni's presentation at the November event, which takes a deep dive into  "Making the Jump to Google Analytics 4." Nenni says dealers must form a strategy to transition their website tracking to Google Analytics 4, and he […] [Read More]

Here’s more evidence of why the “I” in your dealership F&I department could be more important than ever. Polly released an in-depth study Thursday focused on shopper expectations about insurance. The embedded insurance marketplace for automotive retail found 72% of recent vehicle buyers saying that they would like an opportunity to get auto insurance at […] [Read More]

The team behind Florida’s Off Lease Only group of used-car dealerships has launched as sister brand in the Houston area. CarSquad, which has opened in Katy, Texas, gives shoppers the option of buying, selling or trading used cars in-person or online and offers from guidance from experts in making car-shopping decisions. In a news release, […] [Read More]

29 months. That’s the last time there was a year-over-year decline in Canadian Black Book’s Used Vehicle Retention Index. That is, until last month. The index reading of 157.6 was off 0.7% from November and down 0.6% from December 2021, CBB said. After declining from the prior-year back in July 2020, CBB’s index went on […] [Read More]

If they haven’t already, buy-here, pay-here dealerships might be seeing more applicants arriving with an active bankruptcy on their credit file. According to data provided by Epiq Bankruptcy, individual Chapter 13 bankruptcy filings in 2022 increased 32% to 149,072 from the 2021 total of 112,913. While representing a “substantial” year-over-year increase, Epiq pointed out that […] [Read More]

Open Lending Corp. recently offered a in-depth reminder for when a finance company decides to buy that installment contract, especially for an applicant in need of reliable transportation. The provider of analytics, risk-based pricing, risk modeling and default insurance to auto finance companies throughout the United States highlighted five findings from its survey on vehicle accessibility […] [Read More]