Group 1 Automotive has expanded in its home state. The retailer said Monday it has acquired three Beck & Masten Buick-GMC dealerships in Texas, two of which are in the Houston market and one of which is in the Corpus Christi area. Group 1 anticipates the three stores will generate annual revenues of $760 million. […] [Read More]

Toronto-based TRADE X, a B2B cross-border vehicle marketplace for trading vehicles globally, said Tuesday it has integrated PAVE’s vehicle inspection API into its platform. Through this integration, sellers on the TRADE X platform can easily capture inspection information and provide greater transparency on vehicles. Meanwhile, it gives dealers the ability to inspect prior vehicles prior […] [Read More]

Ignite Consulting Partners recently reinforced its roster of compliance experts. The firm also relayed a tip of the week in connection with an enforcement action by the Consumer Financial Protection Bureau totaling more than $24 million to remedy alleged misdeeds associated with debt collections and credit reporting. In March, the bureau took action against Portfolio […] [Read More]

Dealerships and auto finance companies already were not completing many deliveries and installment contracts for new vehicles with consumers who fell into the subprime and deep subprime credit tiers. Now following the significant jump in interest rates, Cox Automotive pinpointed just how small the lowest credit tiers constitute in the new-model market. In 2018, Cox […] [Read More]

RunBuggy, a tech platform designed to connect car shippers and transporters, said Monday it will launch a pricing engine based on artificial intelligence that is aimed at optimizing pricing for vehicle transport. RunBuggy’s “Torque” analyzes real-time data through advanced algorithms — using data sources like weather patterns, traffic conditions and historical trends — to generate […] [Read More]

So, there I am, after a whole week of travel, consenting to go with my wife first thing Saturday morning — not to golf — but to go to Costco. I was grateful to spend time with her, but the venue wouldn’t have been my first choice. Alas, off we go, and we begin snaking […] [Read More]

Marchex is ramping up its presence in the automotive industry. The artificial intelligence-powered conversation intelligence company recently announced that it has launched Marchex Spotlight for Automotive. Marchex highlighted that this solution can enable automaker and dealer customers to increase revenue by easily identifying failed business-to-consumer conversations that drive instant corrective actions through AI-powered conversational intelligence. […] [Read More]

What’s the “new normal” for the post-pandemic used-vehicle market in Canada?  How has the pandemic impacted the industry, and what are the lasting effects? Jake Stacey, executive vice president of sales and training at LGM Financial Services and a speaker at Canada’s Used Car Week next month, breaks it down into three buckets: customer, people […] [Read More]

One way your dealership could see customers beyond when they take delivery is by guiding them toward a vehicle that’s more affordable to insure and maintain. That vehicle could be one of the 2023 model-year brand and category winners of the 5-Year Cost to Own Awards recently given by Kelley Blue Book. Examining ongoing costs […] [Read More]

Michael Manley said AutoNation decided to “realign, reposition and reduce” its used-car inventory in the first quarter of 2022. That appeared to be a wise move as the year went on, said Manley, who is AutoNation’s CEO. “It did, however, set us up for a tough comp per unit volume in Q1,” Manley said during AutoNation’s first quarter 2023 earnings call on April 20. Manley said during the call that the company will “remain nimble” in its approach to used vehicles. “And expansion of our AutoNation USA footprint remains ... [Read More]