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]

As we turn the page on another quarter of 2021, here’s a rundown of how the certified pre-owned vehicle market is faring in Canada, based on sales reports shared by automakers. Starting with Mercedes-Benz Canada, the company said that within its pre-owned division, CPO penetration during Q3 reached a record quarterly rate at 91.8%. That […] [Read More]

AutoLeadStar, a connected automation platform design to speed up growth for auto dealers, has named a new vice president of sales.  Chosen for the position is Mike Colacchio, who comes over from Dealer Inspire. His background also includes time with Dealer.com, Dealertrack and Cox Automotive.  At AutoLeadStar, Colacchio will be responsibile for builing out a sales team, […] [Read More]

CARFAX announced that its Vehcle Recall Search Service research tool has been used for more than 1 billion vehicles checks.  The VRSS is a joint effort between CARFAX and the Alliance for Automoitve Innovation, and was designed in an effort to help state governments improve vehicle road satefy. CARFAX said in a news release that this marks a "major […] [Read More]

Shortly after Manheim began putting some real muscle behind its electric vehicle infrastructure plan some two years ago, the COVID-19 pandemic threw a major roadblock across multiple lanes of the auto industry. It was a stoppage that would almost certainly clog automaker investment in EVs — or so the auction company thought. “One of the […] [Read More]

Perhaps Black Book should write down wholesale records in chalk or pencil; something that can be easily erased and updated. Analysts said the Black Book Used Vehicle Retention Index set a new record, as the September reading came in at 169.5 points, representing an increase of 3.8 points or 2.3% from August. [Read More]