When CarGurus purchased a majority stake in CarOffer this winter, one of the benefits to the deal was that it could give CarGurus dealer partners another digital avenue to source used inventory. That capability came to fruition Friday with the launch of CarGurus Instant Max Cash Offer, a CarOffer-powered platform that allows dealers to acquire […] [Read More]

In a message to its members Thursday, the National Auto Auction Association said that Auto Auction of New England co-owner Bill DeLuca, Jr. died Wednesday.  DeLuca founded the Bank of New England and finance company Auto Use. He also owned the Bill DeLuca, Jr. Family of Dealerships.  Funeral arrangements and further information are forthcoming, NAAA’s […] [Read More]

ACV continues to grow beyond its beginnings as a digital dealer-to-dealer wholesale platform. Mike Pokora, who heads up research and development for ACV, joined the Auto Remarketing Podcast to discuss the company's expansion into other areas of tech, how its Audio Motor Profile technology utilizes machine learning, what pieces of the tech puzzle need to be solved […] [Read More]

Sonic Automotive said Thursday its board of directors has begun a review of “potential strategic alternatives” for its EchoPark Automotive standalone used-car store program, given the success in the program’s strategy and “our confidence in our runway for continued expansion.” Sonic’s board is working with Lazard as its financial advisor in this process and Kirkland […] [Read More]

Antonio Rajan knows the buy-here, pay-here industry well stemming from his time as chief revenue officer at Autostar Solutions. This week, Rajan took on the same executive position but with Agora Data, which strives to provide BHPH dealers and small to mid-sized finance companies access to abundant and affordable capital. Rajan’s broad industry expertise includes […] [Read More]

This week, the National Independent Automobile Dealers Association continued its revamp of moderators and trainers who will oversee the organization’s dealer 20 groups. Joining Ed Curry, who came aboard last month, NIADA welcomed Bill Elizondo and Ben Goodman, whose backgrounds include all crucial segments of being a buy-here, pay-here operator, from inventory management to underwriting […] [Read More]

Coming off a quarter that included the most profitable one in company history, Santander Consumer USA Holdings wants to keep its momentum by leveraging technology to serve customers throughout the credit spectrum. Along with sharing its second-quarter results, this week SCUSA announced that it will debut an innovative digital auto finance experience that will streamline […] [Read More]

Look for used-car sales this month remain steady with June numbers, but fall 4% from July 2020. That’s according to the latest forecast from TrueCar, which projects 3.7 million used sales for July.    TrueCar is expecting 1.29 million new-vehicle sales this month, which would … [Read More]

The used-car market was a strong suit for publicly traded dealer groups in the first half of the year, including Asbury Automotive Group and Penske Automotive Group, both of which released earnings reports this week. Starting with Asbury, it retailed 50,375 used vehicles during the first half of the year, a 30% increase from the same […] [Read More]

Perhaps, it’s potentially the second-most encouraging development for dealers who are looking for inventory. [Read More]