The Justice Department described another notable fraud incident this week that could have permeated through the wholesale, retail and finance spaces. A federal grand jury in Chicago returned an indictment, which was unsealed on Wednesday, charging three Illinois men with operating an odometer and title fraud scheme that involved hundreds of used vehicles over the […] [Read More]

Black Book is expecting wholesale movement for the remainder of the year to resemble what analysts observed in October, which produced a 1.2% decrease in the firm’s Used Vehicle Retention Index. Now on a downward streak of four months in a row, the index dipped another 2.2 points from September’s reading to 174.3, which left it […] [Read More]

The TrueCar+ online car-buying platform, which launched in Florida, is expanding to additional states in the Southeast: Alabama, Georgia, North Carolina, South Carolina and Tennessee, TrueCar said Thursday. The online platform has also gained new capabilities such as F&I and accessories menus, communications tools, nationwide delivery and other perks. “This expansion demonstrates our commitment to […] [Read More]

Edmunds executive director of insights Jessica Caldwell and Cox Automotive chief economist Jonathan Smoke made comments before and after the Federal Reserve pushed interest rates higher again on Wednesday. The latest 75-point rise pushed the year-to-date increase in the target rate to 375 basis points, which Smoke pointed out as the most in any single […] [Read More]

Brent Lane, who is the CEO and founder of HeyAuto,  a new Canadian online transaction platform for vehicle buyers, is looking to “build solutions for car owners” — and dealers, for that matter. The car purchase — which can be the second- or first- largest financial investment people make — is often stressful, yes. But many online retailers […] [Read More]

It’s early November, but a few folks in the used-car business are already in the holiday spirit, launching toy drives and other endeavors to help those in need. On Wednesday, Larry H. Miller Dealerships announced it will be holding its eighth annual Holiday Toy Drive from Nov. 11 through Dec. 3. The program supports the […] [Read More]

Lithia & Driveway was set to hold a grand opening Wednesday for the first physical store within the Driveway side of the business, a move that gives the traditionally digital program a brick-and-mortar presence, too. Driveway Chrysler Dodge Jeep Ram of Portland, located in Oregon, is designed to give shoppers “a new way to purchase […] [Read More]

Regardless of where automotive professionals are located, understanding the vehicles on the road, specifically which segments are most prevalent, will help them to stay informed on the latest trends and have additional insight on what the aftermarket industry may entail in the near future. To gain a more comprehensive understanding of the vehicles on the […] [Read More]

STELLA Automotive AI is seeing more demand for its high-end conversational artificial intelligence technology, so the company made corresponding personnel moves on Wednesday. STELLA announced the expansion of its operations team with the promotion of Joshua Capps as its new director and Noah Pollack as technical support manager.  The company highlighted that Capps, originally hired […] [Read More]

Sonic Automotive delivered record revenues and net income in its third quarter, but is tapping the brakes on adding stores to its EchoPark Automotive stand-alone used-car brand until mid-2023 while it realigns the brand with the changing economic environment. Sonic CEO David Smith said the company remains committed to expanding EchoPark’s reach to within 90% […] [Read More]