February marked the third straight month of year-over-year declines in wholesale vehicle prices in Canada, according to analysis around the latest Used Vehicle Retention Index from Canadian Black Book. The index came in at 157.9 for the month, which was down 0.2 month-over-month and fell 3.5% from February 2022. In January, the index was at […] [Read More]

Spending the past 16 years representing independent dealers in Texas, Jeff Martin has developed an immense respect and admiration for the men and women in the industry. He’s watched dealers put thousands of dollars on the line at auction and listened to them work tirelessly through a deal to help customers in need. “Most of […] [Read More]

Perhaps normalcy with auto defaults is near since the latest rate reading is just 5 basis points away from being at or above 1%. The rate hasn’t been at that level since the end of 2019. According to data through February for the S&P/Experian Consumer Credit Default Indices, S&P Dow Jones Indices and Experian reported […] [Read More]

CarGurus announced its Top-Rated Dealer Awards on Monday, spotlighting dealers throughout the U.S., Canada and the U.K. that consistently provide “exceptional service, guidance, and support.” Dealers must have a minimum average consumer review rating of 4.5 out of 5. US and UK dealers must have at least five reviews in the last year, and Canadian […] [Read More]

Lithia & Driveway has added another country to its footprint. The retailer announced last week it has expanded to the United Kingdom with the purchase of Jardine Motors Group, which operates more than 50 premium luxury dealerships in the UK. “The acquisition of Jardine Motors Group represents a significant new chapter in Lithia’s progress and […] [Read More]

You probably weren’t the only one if you scratched your head after reviewing February service-drive data generated at your franchised dealership. The latest Cox Automotive analysis of Xtime metrics showed that service activity decreased and service revenue increased month-over-month in February at U.S. franchised dealerships. Analysts said in an online report released on Monday that […] [Read More]

To a consumer, the dealer is directly responsible for the price of a vehicle being too high: “The dealer is trying to make too much money off of me!” As a dealer, you can’t afford to get mad at them, after all, they only know what they hear: “Dealers are charging over sticker price! Dealers […] [Read More]

New research by Bain & Company indicated companies across industries are underutilizing automation capabilities and underestimating the challenge of transitioning workers to jobs of the future. Survey findings included within a recent Bain report also showed that workforce augmentation across industries has reduced costs by as much as 30%. Automation, artificial intelligence and the rise […] [Read More]

On Monday, Point Predictive announced Jeff Hendren as its chief revenue officer. The San Diego-based company that provides artificial intelligence solutions for lenders, banks and fintech companies said Hendren will be responsible for generating revenue growth, overseeing the sales and marketing teams and expanding the company’s national presence. With more than a decade of experience […] [Read More]

New analysis and research from Cox Automotive and GfK AutoMobility showed how potentially out of reach taking delivery of a new vehicle might be for consumers with subprime credit and/or lower income. New-vehicle affordability improved again in February following modest improvement in January, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. But new research […] [Read More]