CarMax will utilize the services of UVeye to automate vehicle inspections within its auction operations and provide AI-enhanced condition reports for wholesale buyers. In a news release Tuesday, UVeye said CarMax — which has been an investor in the company since 2021 — will use its inspection technology through a licensing agreement between the companies. […] [Read More]

Bob Grill, senior partner development manager at CARFAX and host of "Just the Fax" podcast, joins the Auto Remarkerting Podcast ahead of NADA Show 2023. Grill and senior editor Joe Overby talk about the upcoming convention, what dealers should be paying attention to in the used-car space, CARFAX's work in wholesale and much more. To […] [Read More]

Automotive Ventures has added Trader Canada executive Paul Whitworth as an advisor, the company said Monday. Whitworth’s experience also includes helping to develop the Retail Solutions business unit at Cox Automotive as well as co-founding AutoPoint, working as an original team member and advisor at vAuto and co-founding LightSource Renewables. He has also worked in […] [Read More]

Element Fleet Management president and CEO Jay Forbes will retire on May 10 when the company hosts its annual general meeting, and Laura Dottori-Attanasio will succeed him, Element said Monday. Dottori-Attanasio, who has been with the Canadian Imperial Bank of Commerce the past 14 years, will join the company on  Feb. 15 initially as president […] [Read More]

Nearly 25% in 17 days. That’s how far prices on late-model pre-owned Teslas fell at the outset of 2023 compared to their June 2022 peak, according to data from Edmunds. After the automaker announced price cuts on Jan. 13, Edmunds examined, among other metrics, the impact on listing prices for used Teslas and the … [Read More]

KAR Global said Monday that its CARWAVE and BacklotCars products have integrated into a single digital platform, which is hosted on BacklotCars. The platform offers both a live auction (currently held on Mondays and Thursdays) and a 24-7 marketplace, giving dealers flexibility, along with more inventory access for buying dealers and a deeper buyer base for […] [Read More]

She was among Auto Remarketing’s annual Remarketing & Used-Car Industry’s 40 Under 40 honorees in 2019, and Melanie Wilson now is interim CEO of the National Independent Automobile Dealers Association. In this episode of the Auto Remarketing Podcast, Wilson shared her initial thoughts on taking on this role and what her most important priorities are. […] [Read More]

Parks Automotive Group, which owns 13 stores throughout the Carolinas and Virginia, has purchased two dealerships near the Charlotte, N.C. area from Jack Salzman and Robin Salzman: Lake Norman Chrysler Dodge Jeep Ram and Gastonia Chrysler Dodge Jeep Ram. That’s according to a news release from Haig Partners, which was the sell-side advisor on the […] [Read More]

The National Automobile Dealers Association is doing more than just gearing up for NADA Show 2023 this week in Dallas. On Monday, the Mobility Open Blockchain Initiative (MOBI) welcomed NADA to the organization that aims to develop and accelerate adoption of zero trust Web3 standards and solutions to enable seamless and secure business processes, while […] [Read More]

Dealer Pay understands that funds are taken from customers at multiple locations with a single dealership. For more than two decades, Dealer Pay has provided payment acceptance and point-of-sale (POS) solutions, exclusively to dealerships, and now the company has additional offerings, including: —Transaction Management Tool that can helps users search, filter, sort, void/refund, receipt, and […] [Read More]