In this special episode of the Auto Remarketing Podcast, we feature a panel discussion from Used Car Week on "The New Consumer Journey Horizon" in auto retail. Moderated by Kraig Quisenberry of ACV, this panel includes Nick Johnson of Luther Automotive, Nate Myers of Performance Automotive, Allen Chery of Larry H. Miller Dealerships, Shaun Hopper […] [Read More]

Sales of electric vehicles (EVs) in the U.S. showed a sharp jump in sales, increasing by two-thirds in 2022, while the remaining portion of the auto market contracted. According to a report in the Wall Street Journal, carmakers sold 807,180 fully electric vehicles in the U.S. this past year, equating to 5.8% of all vehicles […] [Read More]

In this special episode of the Auto Remarketing Podcast, we feature a panel discussion from Used Car Week on "Reimaging Inspections and Damage Detection: AI Reveals New Opportunities." Moderated by Cherokee Media Group's Bill Zadeits, this panel includes Eliron Ekstein of Ravin AI, Stephen Miller of Fyusion/Cox Automotive, Jameel Ghata of PAVE and Mike MacDonald […] [Read More]

The auto portion of TransUnion’s Q4 2022 Quarterly Credit Industry Insights Report (CIIR) included a metric that dipped to its lowest reading in nearly a decade. Viewed one quarter in arrears to account for reporting lag, TransUnion reported this week that auto finance originations in the third quarter of 2022 softened by 9.8% year-over-year to […] [Read More]

Shift, which merged with CarLotz in 2022, is ending its operations of the East Coast CarLotz stores it obtained in that merger and will instead put its efforts toward developing omnichannel capabilities at its other locations and focus on its path to profitability, the company said Thursday. A local dealership group is taking on the store leases, […] [Read More]

North Carolina-based Team Automotive Group has added a store from the Palmetto State next door. The retailer said Thursday it has closed on its deal to acquire to Addy’s Harbor Dodge Ram Fiat in Myrtle Beach, S.C., which is Team Automotive’s first store in South Carolina. With the purchase, the group now has seven stores […] [Read More]

A couple of developments surfaced this week after the National Automobile Dealers Association wrapped up NADA Show 2023. First, NADA welcomed the reintroduction of the Preventing Auto Recycling Theft (PART) Act (S. 154) by four U.S. Senators. Then, the association’s workforce initiative received a $30,000 donation from Assurant. NADA explained the PART Act would assist […] [Read More]

While smaller than the increases policymakers unfurled last year, the Federal Reserve made the expected move on Wednesday of pushing the target for the Federal Funds Rate up by another 25 basis points to the 4.50% to 4.75% range. The move is likely to make it more challenging both for consumers to secure auto financing […] [Read More]

If a picture is worth 1,000 words, perhaps dealers might use that many to describe the state of their vehicle images used to highlight their inventory. Dealer Image Pro, a leader in professional photo, video and 360-degree software for automotive dealerships, recently announced results from a survey it commissioned to better understand the level of […] [Read More]

Another Canadian dealer group is making moves in the United States. Canada’s Go Auto, a family-owned dealer group based in Edmonton, has made its first U.S. acquisition, announcing Wednesday it has purchased Washington state’s Mercedes-Benz of Bellingham and Toyota of Bellingham. Not only are these Go Auto’s first U.S. store, they represent the group’s first acquisition […] [Read More]