Like the 1970s Canadiens or 1980s Islanders, the wholesale vehicle market in Canada is on a streak. Wholesale prices have now climbed 11 straight weeks, according to Canadian Black Book, which said in a market update that values were up in 21 of 22 segments for the week ending Friday. Specifically, there was a 0.60% […] [Read More]

StoneEagle F&I senior vice president of business development Joe St. John made his monthly appearance on the Auto Remarketing Podcast to discuss what’s happening in dealership finance offices. Senior editor Nick Zulovich asked about which elements helping F&I departments this year could be sustained and which ones might be unique to 2021. To listen to […] [Read More]

Auto Remarketing publisher and Used Car Week parent company Cherokee Media Group has welcomed Caroline Rush aboard as a marketing coordinator, where she will work with CMG’s automotive conference and events teams. Rush most recently was a marketing consultant for Sinclair Broadcast Group, where she primarily managed digital marketing campaigns for local and national clients. […] [Read More]

In the new-car market, the electric vehicle segment was up 51.3% year-over-year with 106,562 EV sales during the third quarter, according to Kelley Blue Book. Year-to-date, there have been 323,479 new EV sales, KBB said, which is an 88.2% hike. But the influx of EVs isn’t just happening in the new-vehicle market. As the wholesale […] [Read More]

After piloting the program in September, Hertz will now sell used vehicles directly to consumers online through Carvana. Like its peers in the rental-car space, Hertz has traditionally leaned on auctions, direct-to-dealer programs and its network of retail locations to remarket used inventory from its fleet. The partnership between the rental giant and Carvana announced […] [Read More]

The National Auto Auction Association announced its Warren Young Fellows for 2021 on Tuesday. Each of the four recipients were recognized following their terms leading their respective NAAA chapters as president. This year’s honorees are: — Eric Autenrieth, who is NAAA vice president, owner of Indiana Auto Auction and general manager of Carolina Auto Auction. […] [Read More]

Tasca Automotive Group has purchased two Buick GMC dealerships in Florida from the Norris family, according to an announcement from The Presidio Group, which advised the sellers. Tasca owns another Buick GMC store in Melbourne, Fla., in addition to several stores throughout the Northeast and Midwest. The purchase of Buick GMC Palm Harbor and Buick […] [Read More]

Wholesale vehicle prices have climbed for eight straight weeks, and the lack of supply continues to exacerbate the odd dynamics, perhaps even frustration, in the used-car market. According to the latest Market Insights report from Black Book, which recapped the week ending Saturday, there was a 0.63% increase in wholesale values last week. That’s up […] [Read More]

Ravin AI co-founder and CEO Eliron Ekstein is back on the Auto Remarketing Podcast to talk about the investment appetite in the inspections space, the importance of inspections technology in the wholesale car market and the role of artificial intelligence. Plus, Ekstein shares a preview of the "Damage Detection" panel he's participating on at the […] [Read More]

The rather unique environment in used cars right now is not only driving up the prices these vehicles are fetching, but it is also having some impact on the rate that their values are depreciating, industry studies show. Starting with the price tag, a double-whammy of supply scarcity and strong demand has driven the average listing […] [Read More]