The experts at Black Book and Cox Automotive are seeing wholesale prices and auction sales rates decline this month. The severity of those movements depends on which report you examined on Tuesday. Beginning with Market Insights from Black Book, wholesale values softened another 0.82% last week, which was … [Read More]

AutoVerify announced it has purchased Car Media 2.0, which provides vehicle inventory imaging services to dealers. With shoppers expecting to be able to get detailed interior and exterior vehicle imagery online, this move “enables AutoVerify to help dealers provide this type of interactive customer experience in a way that’s simple to integrate and does not interfere […] [Read More]

Dennis Pennington, used-car director at Andy Mohr Ford, has been in the auto industry for 30 years, the last nine of which he has spent at the Plainfield, Ind., dealership. He recalls a conversation several years ago with the late Rick Case, the founder of the eponymous dealer group with locations throughout Florida and Georgia. […] [Read More]

For the first time in almost two years, auto defaults stayed at the same level for consecutive months. On Tuesday, S&P Dow Jones Indices and Experian released data through September for the S&P/Experian Consumer Credit Default Indices, and the auto reading came in at … [Read More]

ADESA said Monday it has named new general managers at its Chicago, Salt Lake and Los Angeles vehicle logistics centers. Appointed to those positions are Ted Coates (ADESA Chicago), Scott Crane (ADESA Salt Lake) and Jesse Estrada (ADESA Los Angeles). “We’re very pleased to fill these pivotal positions with strong internal candidates who bring deep […] [Read More]

Supply chain challenges. Labor and staffing shortages. Lack of product, or in our world, lack of vehicles. There’s no doubt that in today’s environment, winning in business has many new challenges and staying “ahead of the game” requires creativity and diligence. But this also means there are new opportunities that did not exist 12-18 months ago. […] [Read More]

Last year, Used Car Week celebrated the return of our in-person, live event after a year of going digital due to COVID-19. This year, we mark another return: We’re back in San Diego for the first time in almost a decade.  The used-car industry — and Used Car Week — has changed a lot since […] [Read More]

Last week, CDK Global rolled out a new research project to gauge current and potentially future retail activities at dealerships. The automotive retail software provider launched the Ease of Purchase Scorecard, a monthly snapshot of the consumer vehicle purchase process at dealerships. According to the latest survey data, 82% of auto retailer customers are finding […] [Read More]

Bill Seidle’s Mitsubishi opened on Sept. 9, 1982; an autumn that included a labor strike in the NFL and the debut of the TV sitcom “Cheers,” featuring Ted Danson and Shelley Long. Following 40 years of continuous business operations since that point, Mitsubishi Motors North America (MMNA) recently recognized the franchised store based in Doral, Fla., […] [Read More]

At least one part of the subprime auto finance market is starting to resemble what the landscape was before the pandemic. S&P Global Ratings published a report last week highlighted the U.S. auto ABS sector’s performance for August, noting that it weakened, with prime and subprime losses increasing month-over-month. Analysts explained the deterioration in subprime […] [Read More]