Wholesale vehicle prices in Canada were down both year-over-year and month-over-month in Canada, but export demand is lifting values in some segments, according to Canadian Black Book. Releasing its monthly Used Vehicle Retention Index on Thursday, CBB pointed to the overall stability in wholesale, as prices have eased. The index was at 157.6 in April, […] [Read More]

Epiq Bankruptcy uncovered a pair of notable trends included in the April filing data the firm shared this week. Perhaps more relevant to buy-here, pay-here dealerships are trends Epiq spotted for the first time since April and May of 2019. Analysts said there were back-to-back months with more new cases filed than cases closed per […] [Read More]

From buying cars to happy hour drinks, inflation, interest rates and a turbulent economy are continuing to leave negative ramifications. And the Federal Reserve just pushed interest rates up another 25 basis points on Wednesday. “All bets are off if the U.S. tips into recession,” Cox Automotive chief economist Jonathan Smoke said to close his […] [Read More]

Despite a decline in used retail vehicle gross profit percentage, AutoCanada’s used-car sales climbed nearly 9% in the first quarter, which also helped the retailer achieve robust F&I and parts, service, collision repair profits. In a news release Wednesday outlining its quarterly performance, AutoCanada said it sold 15,290 used retail vehicles overall in Q1, an […] [Read More]

In 2019, as OPENLANE was celebrating its 20th anniversary, Jim Hallett — who at the time was CEO of then-KAR Auction Services — looked back on the company’s 2011 acquisition of OPENLANE as an “inflection point” for KAR that “changed our company overnight.” “Over the years, of all the acquisitions we did, I would look at OPENLANE as being one of the most transformative acquisitions we made in the history of our company,” Hallett said in a January 2019 phone interview. “And we went from being a laggard to a leader with the acquisition of OPENLANE.  “And it didn’t change our company only because we sold more cars. It changed our company because of ... [Read More]

This week, PureCars announced new data and insights regarding dealers’ knowledge of third-party cookie deprecation, customer database health and using first-party data for targeted marketing, as well as familiarity with customer data platform (CDP) technology. Key survey insights from respondents representing franchised dealerships across the U.S. included: Google’s cookie deprecation: —58% of dealers were unaware […] [Read More]

Carmigo, one of this year’s Emerging 8 honorees, promoted one of the company’s co-founders to be chief technology officer. Sean Peoples is now CTO after having served as Carmigo’s head developer and head of product. “Sean has been at the center of Carmigo since the day I first pitched him the idea,” Carmigo founder and […] [Read More]

Privacy4Cars continued its journey toward solving privacy challenges posed by vehicle data this week. The privacy-tech company introduced what it believes is a “groundbreaking new tool.” Executives highlighted the Privacy4Cars’ Vehicle Privacy Report can allow consumers to see key privacy facts about a vehicle, including personal information (PI) the manufacturer collects, shares and sells, with […] [Read More]

US AutoLogistics, an auto transport provider headquartered in Houston with origin points and terminal locations throughout the South, announced the expansion of its affiliated company, USAL Solutions. The company said in a news release that the move reflects USAL’s evolution and its strategic diversification as it recognizes its 10th anniversary this year. Originally established in […] [Read More]

Auto Remarketing is recognizing the 2023 Women in Remarketing honorees in the April edition of the magazine and will be posting Q&As with each of these outstanding leaders on the website. Next up is Tina Pratt, regional sales director of ACV Auctions. What is the top trend you’re watching in remarketing/wholesale automotive this year? Looking forward into 2023 […] [Read More]