Dealer-to-dealer sales within OPENLANE’s marketplace segment climbed a double-digit percentage for the third straight quarter, and while commercial sales slowed, that decline was expected and likely temporary. In the second quarter, there were approximately 182,000 dealer units sold through OPENLANE, up 21% year-over-year and up 6% from the first quarter, the company said in earnings results released last week. That represents a gross merchandise value of $2.5 billion, up from $1.8 billion a year ago. Commercial volumes came in at ... [Read More]

Two dealer groups are putting their money where their heart is with donations to help Texas flood victims and the homeless in Oregon. Pohanka Automotive Group and its pending Honda dealership in Central Texas announced they have established the Kerr County Flood Relief Fund and will match all public donations dollar-for-dollar up to $25,000 to […] [Read More]

Cox Automotive’s vAuto is looking at vehicle appraisals with a fresh eye — a UVeye, to be exact. vAuto announced it is integrating UVeye, an artificial intelligence-powered vehicle inspection system, directly into its inventory management platform’s appraisal and inventory sourcing process. In a news release, Cox Automotive said the integration advances its mission to use […] [Read More]

In the late 1990s, the Internet Tax Freedom Act created a regulatory foundation that allowed the internet to flourish. It didn’t invent the web, but it removed uncertainty, fueling an explosion of innovation, business formation, and infrastructure investment. Trillions of dollars in market value followed. Today, the GENIUS Act (Guiding and Establishing National Innovation for […] [Read More]

With today’s “always connected” digital economy, identity is currency. For the automotive industry — spanning rentals, dealerships, insurance providers, and financing institutions — that currency is increasingly being challenged. The numbers are staggering, with U.S. auto lenders facing an estimated $9.2 billion in fraud loss exposure. This surge in identity-based fraud is not only draining […] [Read More]

It appears only talk about tariffs disrupted the upward trajectory of expanded auto credit access since last summer. Cox Automotive reported the Dealertrack Credit Availability Index improved again in July, marking the third consecutive month of enhanced credit access. The index rose 1 point to 98.1. Jonathan Gregory, a senior manager on Cox Automotive’s economic […] [Read More]

CarGurus will wind down its CarOffer transaction business, including the dealer-to-dealer and Instant Max Cash Offer products, and expects to complete the process in the second half of the year. The company said in an earnings release Thursday that after a strategic reassessment of CarOffer, it has determined the transactions business “has proven less effective […] [Read More]

Bo goes. Suh subs. The National Auto Auction Association said Bo Jackson, scheduled to be the closing keynote speaker of the 2025 NAAA World Remarketing Convention next month in Kansas City, has canceled due to “unforeseen circumstances.” Replacing him in the lineup will be former NFL defensive tackle Ndamukong Suh, a five-time All-Pro and Super […] [Read More]

CanadaOne Auto has partnered with Canadian automotive marketplace AutoTrader.ca to support its efforts to streamline online inventory exposure for its used and new vehicle offerings. The Edmonton-based dealership group, which operates 43 locations in five provinces, said the deal allows it to explore technology-driven tools, including AutoTrader’s “recent breakthroughs” in artificial intelligence aimed at improving […] [Read More]

The Canadian wholesale used-vehicle market had its ups and down last week. Canadian Black Book’s weekly Market Insights report for the week ending Aug. 2 showed auction conversion rates rising from the depths of a year-to-date low, while vehicle values took a significant tumble. At the auctions, the average monitored sale rate came in at […] [Read More]