The wave of mergers and acquisitions in multiple parts of automotive continued this week. AutoAlert, a provider of data analytics solutions, announced that it has been acquired by certain funds and accounts managed by BlackRock. Through a news release, Phil Tseng, managing director and co-head of US Private Capital, BlackRock Alternatives, explained why the firm […] [Read More]

The certified pre-owned vehicle market is not only exceeding expectations in early 2023, it outpaced year-over-year improvements in overall used-car sales last month at dealerships. According to a Cox Automotive analysis of Motor Intelligence data, there were 229,542 CPO sales last month, which beat year-ago numbers by 4.2% and was an 11% improvement over February. […] [Read More]

AutoVerify has a new CEO. The company said Thursday that chief operating officer Keith Murray, who has been the company since 2020, is now taking on the top role. Prior to joining AutoVerify, Murray worked with Autodata Solutions for 21 years, including three as COO. “I am honoured and excited that the AutoVerify founders have […] [Read More]

Canadian Black Book’s annual Residual Value Awards, which were released earlier this spring, revealed some interesting movement in electric vehicle residual values. It shook out that EVs are expected to hold more value after four years than their internal combustion engine car counterparts. Specifically, the residual value average for EV winning cars is ... [Read More]

Automotive Ventures said last week it is closing its new DealerFund to new investors at the end of the month. But the firm isn’t idling until the point. Automotive Ventures is part of the group to invest in Pitstop, a fleet maintenance software company that provides powerful AI-driven predictive analytics and insights in an affordable, […] [Read More]

Along with examining the employment scene, Cox Automotive tried to decipher how easily dealerships could get contracts bought in March by their networks of finance companies. According to the Dealertrack Credit Availability Index, access to auto credit loosened slightly in March, which included the failure of multiple banks. Cox Automotive reported the index increased 0.2% […] [Read More]

This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine.  It is available for Cherokee Media Group Premium subscribers now.  “The sales department sells the first car; the service department sells the second” is a well-known dealership saying. And the service department’s importance to […] [Read More]

What new-model shoppers think of a specific brand very well could be an indicator of how used-vehicle shoppers evaluate that badge, too. So, Kelley Blue Book’s 2023 Brand Image Award winners could help dealerships shape their inventory for the remainder of the year and beyond. Honda, Toyota and Tesla dominated the award categories that are […] [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 Michelle Robertson, manager of US & Canada auction operations at Ford Motor Co. What is the top trend you’re watching in remarketing/wholesale automotive this […] [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. First up is Kimberly Breidenbach, director of marketing and communications at Black Book. What is the top trend you’re watching in remarketing/wholesale automotive this […] [Read More]