There was softness yet again in the retail used-car market last month, as sales and turn times slowed. Cox Automotive estimates there was a 10% drop in total used-vehicle from October 2020. It calculated the total used-vehicle SAAR at approximately 35.9 million units for October, compared to 39.9 million a year ago and steady with […] [Read More]

Perhaps there are some strategy recommendations to help dealerships sell used vehicles that can be plucked from the J.D. Power 2021 Sales Satisfaction Index (SSI) Study, which focuses on retailing new models. Three of the four key findings might be especially relevant to used departments since they are associated with subjects such as trade-in values, […] [Read More]

An alternative-fuel model once again topped the monthly iSeeCars.com list of fastest-selling used vehicles, but it was not the one that has led the rankings the past four months. Snapping the Tesla Model 3’s streak in October was the Honda Insight hybrid sedan, which took an average of 20.5 days to sell. It was one […] [Read More]

Credit Union Leasing of America (CULA) recently set another milestone in the company’s 30-year history amid record prices for new vehicles. The facilitator of indirect leasing for credit unions said on Wednesday that its portfolio now exceeds 100,000 active leases through its credit union partners, pushing the worth of those contracts to nearly $3.8 billion. […] [Read More]

Now that MotoRefi is more than just an auto refinance platform, the company has a new name, too. According to an announcement made on Wednesday, the company launched an expanded brand, as it’s now known as Caribou with a new company logo and new product offering. Caribou’s technology not only can help users unlock lower […] [Read More]

Especially in the advent of digital retailing, CDK Global sought to gauge how much dealerships are looking to protect themselves and their customers from online threats. According to findings from a CDK Global study released on Wednesday, rising concerns of ransomware and phishing attacks impacting have prompted nearly half of dealers surveyed to plan for […] [Read More]

Mayer Brown partners Ori Lev, Brian Stief and Kerri Elizabeth Webb compiled a robust analysis of the Consumer Financial Protection Bureau’s authority to enforce a prohibition against abusive acts and practices in connection with the provision of consumer financial products or services. During the past decade, the Mayer Brown experts pointed out that this new […] [Read More]

E Automotive Inc., which is the company behind the EBlock digital wholesale marketplace and the EDealer digital retail products, said Wednesday it has closed its initial public offering. The offering of 5.9 million common shares priced at $23.00 (CAD) per share generated gross proceeds of $135.7 million. E Inc. plans to use net proceeds to […] [Read More]

Online peer-to-peer used-car marketplace TRED has landed $25 million in Series B funding that it plans to use for expanding its products, locations, partnerships and engineer team.    Participating in the round were new and existing inventors. That group included Vivek Raj of Geneses Capital Management, Westlake Financial’s Ian Anderson and CMFG Ventures’ Mike Kraus. […] [Read More]

Sonic Automotive said Tuesday it has acquired Cook Volkswagen in Fallston, Md. The dealership, will has been renamed Volkswagen of Fallston, is the 89th franchised location for Sonic. The store, which is 30 miles from Baltimore, is also Sonic’s fourth VW location. “We are excited to expand our automotive sales and service network with Volkswagen […] [Read More]