Montway Auto Transport and Auction Direct Transport have merged, Montway announced Wednesday. Montway, which is a third-party logistics brokerage, said adding Auction Direct Transport, which is an auto transport brokerage company, will help the company expand into the auction-to-dealer transport space. This move comes at a time when dealers are turning to auctions outside their […] [Read More]

As automobiles have become more technically connected to the world, the news is filled with apocryphal warnings about virtual carjackers — or maybe car-hackers is a better term. While there are also real issues with new vehicles and cyber security, no automotive business would dream of leaving the keys on the counter, digital or otherwise. […] [Read More]

Edmunds’ newest auto finance data not only showed the growing share of consumers paying at least $1,000 per month for either a new or a used vehicle, experts also cautioned that they “are only seeing the tip of the negative equity iceberg.” Edmunds reported on Wednesday that 15.7% of consumers who financed a … [Read More]

It doesn’t appear the used-car retail market closed 2022 on a particularly high note. According to a forecast released Thursday by TrueCar, December was expected to wrap up with less than 2.5 million used-car sales. That would be a … [Read More]

This special episode of the Auto Remarketing Podcast was recorded during Used Car Week in November and features a conversation about traditionally retail-facing auto companies making a push into the wholesale market, which was one of the major news stories throughout 2022. The panel discussion, moderated by Cherokee Media Group senior editor Joe Overby, includes […] [Read More]

Tuesday’s installment of Black Book’s Market Insights focused on the stretch between Christmas Eve and New Year’s Eve when some consignors and dealers might have been with family and friends rather than the auction lanes, prompting experts to call that annual stretch of the calendar a “toss-up.” Black Book explained its methodology after noting wholesale […] [Read More]

SmartGroups and Automotive Reinsurance Concepts founder and chief executive officer Justin Osburn started 2023 with two major announcements aimed directly at helping independent dealers, which are facing some significant headwinds based on Cox Automotive’s latest research. First, Automotive Reinsurance Concepts introduced Independent Dealer University, a subscription-based online education platform designed to put “next-level” training easily […] [Read More]

Black Book started the new year by promoting two of its executives to senior leadership roles. Kyle Luck, who was most recently vice president of product management and software development, has been named senior vice president of product and technology, with responsibilities in both the U.S. and Canada. Susan Moritz, most recently vice president of […] [Read More]

With the first-ever tax credits for used electric vehicles having become effective on Jan. 1 as part of the Inflation Reduction Act, that shopper on your dealership’s lot is likely to have this question on their mind. Does the used EV I’m interested in qualify for this tax credit? With that in mind, EV analytics company […] [Read More]

Tonkin Automotive Group has sold its Acura of Reno dealership in Nevada to New England-based Key Auto Group, according to Performance Brokerage Services. In a news release, Performance Brokerage Services co-founder Jason Stopnitzky said: “We have been friends with the Tonkin family and their multi-generational dealer group for many years. They are a very special […] [Read More]