The McConkey Auction Group is expanding. And this time, it’s through an all-new greenfield location. The auction group announced Thursday that it has launched MAG Alaska, a hybrid auction located on four acres in Anchorage. The location includes a 300-unit consignment lot, test track and vehicle inspection services. Vehicles are actually sold through the company’s […] [Read More]

Michigan-based Victory Automotive Group has acquired C&C Toyota and C&C Chrysler Dodge Jeep Ram in Marietta, Ohio, broker Blair Sharpe of the Tim Lamb Group announced. The dealerships are now known as Victory Toyota Marietta and Victory Chrysler Dodge Jeep Ram Marietta. The dealerships include 12,480 square feet of office/showroom space plus a collision center […] [Read More]

We’re only a few days into the second half of 2023, and the pace of mergers and acquisition continues to be strong. The latest one surfaced Thursday, as Safe-Guard Products International, a provider of branded protection products for the automotive, RV, powersports and marine industries announced it has acquired Dealer Solutions and Design (DSD) based […] [Read More]

Minutes from the June meeting of the Federal Open Market Committee showed the Federal Reserve sees how an official recession could surface later this year. And getting that retail installment sales contract bought by your dealership’s network of finance companies is likely part of the scenario drawing the attention of policymakers. According to the Fed’s meeting minutes ... [Read More]

Canada is not sold on electric vehicles, according to the latest study by J.D. Power. The second annual J.D. Power Canada Electric Vehicle Consideration Study found 66% of Canadian consumers said they are “very unlikely” or “somewhat unlikely” to consider an EV for their next vehicle purchase. That 34% consideration rate is a significant drop […] [Read More]

AutoVerify, Equifax Canada and TD Auto Finance teamed up to ease a critical pain point expressed by consumers: Uncertainty about what they can afford to spend on a vehicle. On Thursday, the companies released AV Pre-qualify, which can allow users to determine the amount they can borrow and also see if they qualify for an […] [Read More]

Like many of us, the Black Book team celebrated the Fourth of July on Tuesday, so its newest installment of Market Insights appeared on Wednesday, giving analysts the chance to compile their data wrapping up June and glimpsing into the first day of the new month. What Black Book found was all 22 vehicle segments […] [Read More]

America’s Group, consisting of America’s Auto Auction and AXLE Funding, announced the promotions of three leaders to executive director positions. Keith Fetz has been named executive director of digital strategy, Sawyer Walker is now executive director of national sales and Melissa Miller has been promoted to the role of executive director of marketing. Fetz will […] [Read More]

Editor's Note: This is a small excerpt from Cherokee Media Group's upcoming “State of the Used Car Industry” report. The full report will be available this month. The prime reason vehicles are pricier to purchase in the wholesale market and will likely remain that way for years to come? Blame lack of supply. “The mix of the (used-vehicle supply) is different overall, volume is different,” Black Book chief data science officer Alex Yurchenko said during a presentation at the NIADA Convention in June. The estimated available wholesale supply of vehicles up to 8 years old fell to ... [Read More]

Holand Automotive Group, one of Canada’s leading luxury automotive retailers and owner of Ferrari Quebec in Montreal, has acquired Ferrari South Bay in Torrance, Calif., in the greater Los Angeles area. The acquisition is Holand’s first in California, one of North America’s top Ferrari markets. The company said the Ferrari South Bay showroom has been […] [Read More]