KAR Global said Tuesday it has purchased Auction Frontier, the developer of the Velocicast cloud-based auction simulcast solution. And here’s the kicker: Not only does Velocicast power KAR’s own ADESA Simulcast and Simulcast+ platforms, it also provides the technology behind the simulcast sales of more than 300 wholesale and retail auctions throughout North America and […] [Read More]

Vroom, which has delivered in the Chicago and Los Angeles areas since its 2012 founding, has opened new hubs in those cities. Vroom, an e-commerce platform for buying and selling used vehicles, said that in the Windy City, it is also offering a more customized driveway experience for 4.7 million people in 420 ZIP codes within […] [Read More]

As digital-first experiences take the spotlight and consumers increasingly seek reviews about how businesses are handling pandemic-related health and safety concerns,  Cars.com said 10 million car buyers have now left reviews for dealers on its platform. The milestone comes as 38% of consumers report they read more reviews because of COVID-19, according to a DealerRater […] [Read More]

Used-car e-commerce platform Shift launched its service to purchase cars from consumers in the Las Vegas region.  It is the company’s first market in Nevada, and consumers are now eligible to sell their cars directly to Shift in 11 U.S. geographies. Shift co-chief executive officer Toby Russell said Las Vegas is business-friendly and is a major […] [Read More]

Convoluted, complicated and difficult all might be appropriate adjectives to describe what’s happening in the auction lanes nowadays. While Black Book is seeing an ever so slight deceleration in the upward trajectory of wholesale prices, analysts also pinpointed a handful of specific models in which dealers actually are being forced to pay above MSRP for […] [Read More]

Digital driver assistance services provider Agero introduced a new service that it says removes the hassle and minimizes the costs and risks of safely moving vehicles.  Agero said it built the new service — called Vehicle Transport — for automotive manufacturers, dealer groups and fleet management companies. The service assists in areas such as contactless […] [Read More]

As pandemic-induced supply-chain disruptions have sparked a global chip shortage, the automotive industry is experiencing the resulting ripple effect of inventory scarcity. Industry-wide data shows that consumer demand is up, evidenced by higher lead closing ratios, higher gross profits and more total sales on a month-over-month basis. Yet according to Autotrader, new-car inventory is down […] [Read More]

Ryan Martin, general manager of Strawberry Road Auto Sales in Pasadena, Texas, is one of the scores of independent dealers NextGear Capital is trying to help via its enhanced Account Portal. “Having the right tools and technology to support my dealership was one of my top priorities when it came to selecting a floor plan,” […] [Read More]

If you didn’t already know, StoneEagle F&I senior vice president of business development Joe St. John is one of the most enthusiastic executives anywhere in the automotive industry. Well, when St. John dissected the first-quarter data gathered via StoneEagleMETRICS, his excitement level ticked up a few notches because he found what might be a “silver lining” […] [Read More]

As automakers in Canada begin to share certified pre-owned sales results from April, one trend has emerged: it was a strong month, despite challenges stemming from lockdowns.  For instance, Hyundai Auto Canada Corp. had its strongest April of all time for certified pre-owned — which also was its second-best CPO sales tally ever — even amid partial lockdowns […] [Read More]