Despite a projected double-digit climb in retail used-vehicle sales in August versus July, dealers are souring on their prospects for retail success during the third quarter. Cox Automotive compiled a variety of information connected with dealerships and their used-vehicle operations, including the newest Cox Automotive Dealer Sentiment Index (CADSI). To gauge the pace of used-vehicle […] [Read More]

The National Auto Auction Association annual convention wrapped up in Dallas on Thursday with a flurry of announcements, including the election of a new vice president, an inductee into its Hall of Fame, another Industry Pioneer recognized, naming of this year’s Auctioneer of the Year as well as 2022 Warren Young Fellows for chapter presidents. […] [Read More]

In another episode originating from this year’s NAAA annual convention, Cherokee Media Group senior editor Joe Overby caught up with Sandy Moon and Danny McNelis of NextGear Capital. They delved into more detail about the auction services group that NextGear Capital launched earlier this year as well as other subjects connected with dealerships and their […] [Read More]

During the NAAA annual convention, Cherokee Media Group senior editor Joe Overby shared a conversation with two executives from Cox Automotive Inventory Solutions — Dana Lowenthal and Patrick Brennan. Among other topics, they discussed how dealers are leveraging auctions today, whether they’re still walking the lanes or going online to find the inventory they need. […] [Read More]

Portfolio likes the work done by Jim Cunha, so this week the provider of reinsurance and F&I programs to auto, RV and powersports dealers appointed him as a managing director for sales and agent development. The company highlighted Cunha brings a wealth of experience to the role, having served as an F&I director, dealership principal, […] [Read More]

On Thursday, Prestige Financial Services, a portfolio company of the Larry H. Miller Company, announced the appointment of Pepo Tsvetanov as its new chief financial officer in a move that was effective on Tuesday. According to a news release, Tsvetanov replaces Eric Bennett, who now will serve as CFO at Advanced Health Care, another Larry […] [Read More]

While still higher versus a year ago, Cox Automotive noticed its wholesale price index made a near-record move lower in August. Cox Automotive reported on Thursday via a Data Point that wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased … [Read More]

Perhaps the timeframe should be considered since the drops in wholesale values and estimated average weekly sales rate reported by Black Book derive from the span that closed during the heart of Labor Day weekend. Still, Black Book said on Wednesday that wholesale values dropped by another 0.93% last week, while the estimated average weekly […] [Read More]

Buy-here, pay-here and independent dealerships have been the topic of conversations for at least part of this week’s National Auto Auction Association convention in Dallas. Some of that dialogue took place as NextGear Capital announced on Thursday that it has created an auction advisory board to deepen its commitment to auctions that support independent dealers. […] [Read More]

Today’s automotive industry continues to see noticeable changes in everything from consumer demand, behavior, and shopping patterns to the way operations are dealing with an ongoing shortage of inventory, parts, and labor. What’s more, the shopping process itself continues to evolve into more of a digitized experience. While the industry isn’t fully digitized the way […] [Read More]