While acknowledging there has been some portfolio softening, Cox Automotive chief economist Jonathan Smoke cautioned about taking an approach “to create the view that the sky is falling.” Smoke explained his reasoning in a company podcast posted on Friday with Deshaun Sheppard, a lenders solution expert with Dealertrack. “Yes, we are seeing a return to […] [Read More]

Cox Automotive said Thursday that executive Derek Hansen has been named vice president of operations for its Inventory Solutions Group, where he will lead the company’s wholesale-to-retail inventory management efforts. Specifically, Hansen will focus on vAuto’s new Variable Management strategy and developing the Kelley Blue Book Instant Cash Offer and Upside products. Hansen has been […] [Read More]

Brian Kramer, EVP of CARS and general manager of Accu-Trade, joined the Auto Remarketing Podcast at NADA Show 2023 in late January in Dallas. Kramer and Cherokee Media Group’s Joe Overby discuss how Accu-Trade has worked with its fellow CARS companies post-acquisition, Accu-Trade’s recent product launches and more. To listen to the conversation, click on the […] [Read More]

If you’ve heard of the 80/20 Rule (otherwise known as the Pareto Principle), you know it suggests that roughly 80% of consequences come from 20% of causes. In other words, 80% of our outcomes are driven by 20% of our efforts. So shouldn’t we all be focusing on the 20% we do best? But when […] [Read More]

A total of 80 dealers have something else to celebrate. On Thursday, Edmunds announced winners of the 2023 Edmunds Five Star Dealer Awards that went to 80 dealers nationwide for outstanding customer satisfaction ratings. Edmunds said 11 of those honorees also earned the Edmunds Five Star Premier Dealer designation. To qualify for a Five Star […] [Read More]

In their third quarter earnings call, Vroom executives said the firm would purposely slow down in order to improve the online used car retailer’s customer experience. They warned it would impact fourth quarter results. Boy did it. “Sequential declines in e-commerce unit volumes impacted e-commerce gross profit by approximately $12 million. Additionally, the impact of ... [Read More]

Experian made the official declaration on Thursday. In the fourth quarter of 2022, credit unions held the largest percentage of the vehicle finance market for the first time. According to Experian’s State of the Automotive Finance Market Report: Q4 2022, credit unions accounted for 26.85% of all vehicle financing during the quarter, comprising the largest […] [Read More]

The National Independent Automobile Dealers offered updates this week on a pair of fronts — its certified master dealer program as well as federal actions involving noncompete stipulations. In the program’s near 30 years, the association said 270 auto dealers earned the distinction of being a NIADA Certified Master Dealer. These standout dealers earned the […] [Read More]

EBlock CEO Jason McClenahan joined the show from NADA Show 2023 in Dallas in late January for a discussion about how the digital wholesale platform connects land and technology, how EBlock is investing in both, plus wholesale market trends and much more. Stay tuned for more podcasts from NADA Show 2023 in coming weeks. To […] [Read More]

A Teletrac Navman survey of more than 1,800 global fleet operators revealed the top three challenges they currently face. Topping the list of concerns for these automotive professionals are rising fuel costs (39%), disruption due to the impact of COVID-19 (32%) and supply chain pressure (31%). “The last 12 months have created new complexities for […] [Read More]