Wholesale prices are softening so much that even year-over-year comparisons made by Cox Automotive show only modest differences. Cox Automotive reported on Monday that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) dropped … [Read More]

Used Car Week is returning to San Diego for the first time in almost a decade, and will feature several new twists for the event, which is scheduled for Nov. 14-17 at the Manchester Grand Hyatt. Among those is the debut of the Used Car Week Podcast Stage, where podcasters and other media can record […] [Read More]

SmartGroups and Automotive Reinsurance Concepts founder and chief executive officer Justin Osburn appeared on the Auto Remarketing Podcast to share his assessment of how independent dealerships currently are doing. Osburn, who most recently was the National Independent Automobile Dealers Association’s retail 20 groups moderator/consultant and lead instructor for NIADA’s Certified Master Dealer course, also reiterated […] [Read More]

The Federal Trade Commission announced last week that it began sending payments to consumers impacted by dealerships operating in Arizona and New Mexico that the regulator shut down two years ago. The FTC said it is sending payments totaling more than $415,000 to 3,508 consumers who financed a car or truck at a Tate’s Auto […] [Read More]

Open Lending is stretching terms to help credit unions book more paper, especially with potential customers who land in the near or non-prime credit tiers. Last week, the lending enablement and risk analytics solutions provider announced it will offer its clients the ability to originate 84-month contracts for new models and used vehicles up to […] [Read More]

New research from Bain & Company showed that while high-growth technology companies have been hit the hardest by recent market shifts, 77% of companies are expected to either increase their technology budgets in 2023 or keep it the same. Bain’s third annual global Technology Report released on Monday also indicated that despite the current economic […] [Read More]

J&M Chevrolet, which is located in the Raleigh, N.C., area, has been sold to Dan Miller and Mark Zurales, according to a news release from Haig Partners, which served as the exclusive advisor on the sale. Carlos Wheeler, a second-generation dealer, is the dealer principal of the store. “We are blessed to have had the […] [Read More]

TrueCar positioned its latest research project to coincide with the opening of the 2022 North American International Auto Show in Detroit, as the Motor City has been charged up with electric vehicles and a visit from President Joe Biden, who quipped, “You know, you all know I’m a car guy. “I’m here because the auto […] [Read More]

AutoCanada, the only publicly traded dealer group based in Canada, first forayed into the U.S. in 2018, when it bought the Grossinger Auto Group in Illinois. This acquisition added eight dealerships to the group’s linkup in Metro Chicago, plus another six luxury brand dealerships in an auto mall in nearby Bloomington/Normal, Ill. Now, with a […] [Read More]

TurboPass announced the appointment of two new members to its board of directors this week. Now part of the leadership structure for the fintech firm that helps dealerships and finance companies during the underwriting process are Mark Vazquez, who is senior vice president of sales and marketing at Westlake Financial Services, and Tyler Lackey, who […] [Read More]