Wholesale vehicle prices closed 2022 having declined sequentially for seven months in a row, reaching at average of $14,316 for December, which was down 0.9% month-over-month and 11.8% year-over-year, according to ADESA chief economist Tom Kontos’ analysis of the market. Since then, Kontos said by phone Wednesday, wholesale prices have risen approximately $1,500, as values so far in March are around $15,500. But dealers are ... [Read More]

On Wednesday, RoadRunner Auto Transport introduced artificial intelligence  and machine learning to optimize planning and pricing for vehicle shipping. The company highlighted AI and ML will significantly reduce delays and improve the cost and efficiency of the vehicle shipping process. Through a news release, RoadRunner explained that its AI and ML algorithms can analyze real-time […] [Read More]

The National Auto Auction Association is hosting an industry standard training session next month at Greenville Auto Auction that will delve into damage analysis and condition reports. The course, set for April 11-12 in Greenville, N.C., will include the following topics, NAAA said: Condition report-related disclosures and announcements for buyers and sellers Imaging and best […] [Read More]

A new platform designed to help take care of the many moving pieces involved in an online used-car sale is set to launch Wednesday. And in addition to announcing its debut, Caramel — a used-car checkout platform that aims to make online sales easier for private parties and independent dealers — said it has secured […] [Read More]

Jessica Stafford, senior vice president of consumer solutions at Cox Automotive, returns to the Auto Remarketing Podcast for an enlightening conversation on gender equity in the auto industry. In an interview with Cherokee Media Group’s Joe Overby, Stafford shares her perspective on the progress that has been made in recent years and where improvement is […] [Read More]

Cue the theme music from the “The Jeffersons” as a backdrop for the current wholesale market. Prices and sales rates are “movin’ on up!” Black Book recapped in its newest installment of Market Insights that wholesale values rose another 0.49%. For context, analysts noted that the average movement during the same weeks in 2017-2019 was […] [Read More]

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]