CarLotz is doubling down in the Lone Star State. The consignment-to-retail used-car marketplace announced Monday that it has opened a hub in Plano, Texas, its second location in the state. This new hub, located in the Dallas-Fort Worth Metroplex, complements its sister location in San Antonio. “Through our #LotzOfLove initiative and the non-profit Dogs Matter, […] [Read More]

CarGurus said Friday it is expanding the coverage of its Instant Max Cash Offer program to 11 new states and Washington, D.C.  Why is this important for dealers? Now, dealers in the CarGurus/CarOffer network have significantly more quality used inventory from which to choose .  CarGurus Instant Max Cash Offer — which lets consumers sell their vehicles digitally, […] [Read More]

vAuto now has a new offering within vAuto Provision, a suite of tools that can help dealers adopt a more transparent and turn-focused approach to used-vehicle acquisition, appraising, pricing and merchandising based on real-time, local market supply-and-demand data. That new feature is Wholesale Hub.  Here's how it works: Wholesale Hub  is the "new way to wholesale inventory from within […] [Read More]

The Feldman Automotive Group has expanded its presence in Michigan with the purchase of Detroit’s Jorgensen Ford from seller Merlton Brandenburg. The store is now Feldman Ford of Detroit. The acquisition, announced Friday, means Feldman has 17 stores throughout Michigan and Ohio. That tally includes five Buckeye State stores in which the group has partnered […] [Read More]

Hello Auto Group has grown its Southern California presence with two new dealerships: John Hine Mazda Temecula and John Hine Subaru Temecula. The acquisition was finalized on Oct. 4. The John Hine franchise has been a respected name in California for more than 60 years, while Hello Auto Group is a relative newcomer to the comunity. However, the dealer […] [Read More]

Cox Automotive’s measure of wholesale vehicle prices reached a new all-time high in September, passing the record set in the spring and defying prior expectations amid continuing car supply challenges driven by multiple macro factors. Specifically, the Manheim Used Vehicle Value Index came in at 204.8 last month, which beats the year-ago reading by 27.1%. […] [Read More]

TurboPass initially formed a relationship with Westlake Financial last summer to help the finance company and its network of dealerships during the underwriting process. Operating now as NowLake Technology, TurboPass is even more entrenched with that company. In a move that became effective this week, the 14,000 DealerCenter users not already signed up with TurboPass […] [Read More]

This week, two existing companies merged to form one the largest independent insurance agencies that offer products exclusively for dealers in F&I, as well as property and casualty (P&C) coverage and employee benefits. Risk Theory Dealer Advisors and TrueRisk Advisors combined forces to create Brightline Dealer Advisors to be what company leadership calls “one, truly […] [Read More]

On Thursday, Advanced Business Computers of America (ABCoA) launched what the software solutions provider for independent dealerships and subprime auto finance companies believes is a customer relationship management (CRM) solution built specifically for BHPH operators. ABCoA added cyclCRM, which is geared to be completely integrated and bi-directional with the Deal Pack dealer management software (DMS) […] [Read More]

Finance companies know risk has to be absorbed somewhere; thus, that’s when insurance providers come into the picture. And S&P Global Market Intelligence’s annual U.S. Auto Insurance Market Report projected a dollar figure on just how much that risk is expanding. Analysts said sharply higher costs to repair and replace vehicles will cause insurance companies’ […] [Read More]