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]

Spiffy has landed a $22 million Series B financing round. The on-demand car care, tech and services company plans on using the investment for the rollout of new Spiffy markets, growing franchise territories and launching new service offerings. Tribeca Venture Partners led the round, which also included participation from existing investors Bull City Venture Partners, […] [Read More]

KAR Global named a chief digital officer on Monday, hiring a former Microsoft and Amazon leader. Appointed to the post is James Coyle, who was most recently the chief executive officer of RealSelf, a digital marketplace in the medical space. Coyle’s experience includes time with Microsoft and Amazon, where he headed up consumer electronics. His […] [Read More]

Hertz has its sights set on offering North America’s largest electric vehicle rental fleet and is turning to Tom Brady for a marketing spark. As part of a major EV investment announced Monday, the rental car giant plans on an initial order of 100,000 Teslas by the end of next year. Hertz is also investing […] [Read More]

Dealers Auto Auction of Oklahoma City has named a new general manager to replace longtime GM Bruce Beam. Hired for the position was former XLerate Group chief operating officer Pat Stevens, whose experience also includes time with Manheim and ADESA. Stevens started his auto auction industry career in 1993 at Manheim Dallas, where was fleet […] [Read More]

One way to combat uncertainty about electric vehicles: exposure and education. That’s been the approach of at least two entities with the auto industry making efforts to connect with the public to “demystify” the EV segment. Over at Cars.com, the company is hosting an online event Thursday — “Cars.com’s Guide for the EV Curious” — […] [Read More]

CarLotz is launching a second hub in California, this time setting up shop in the nation’s second-largest metropolitan area. The consignment-to-retail used-car marketplace is opening a hub Monday in Pomona, Calif., that will serve Greater Los Angeles. This will complement the existing CarLotz hub in Bakersfield, which opened in June. Plans for the LA-area hub […] [Read More]

More financing options now are available for dealerships and their customers in Canada’s rural provinces. Last week, AFG Canada announced that Newfoundland and Labrador Credit Union (NLCU), a financial institution based in Newfoundland, has signed on to AFG Canada’s Leasing Program. AFG said the partnership with NLCU further reinforces its mission to expand into new […] [Read More]