John Stephens is bringing more than 30 years of automotive experience to AutoPayPlus by US Equity Advantage. The biweekly payment processing provider announced this week that Stephens has joined the company as chief sales officer. Most recently, Stephens served as executive vice president of dealer services at Texas-based EFG Companies where he oversaw the direct […] [Read More]

It’s coming down to the wire in certified pre-owned. For 2021 to match the best-ever year for CPO sales (which happened in 2019), dealers will have to sell more than … [Read More]

The cost of gasoline is up nearly 59% from a year ago, so the models topping the iSeeCars.com list of fastest-selling used vehicles makes perfect sense. A combined nine hybrids and electrics cracked the top 20 list for November. Seven of the nine — and each of the top four — fastest-selling used vehicles last […] [Read More]

KAR Global announced leadership changes at eight ADESA locations on Thursday. New general managers now are in place at operations throughout the U.S., including: — Michele Arguijo at ADESA Austin — Amy Coley at ADESA Washington, D.C. — Sheldon Jones at ADESA Little Rock — Derek Kline at ADESA PA — Sean O’Connell at ADESA […] [Read More]

Though the overall increase slowed, wholesale vehicle prices in Canada have now climbed for 18 consecutive weeks, according to Canadian Black Book. In the CBB Automotive Market Update released Tuesday the company said overall wholesale values were up 0.45% last week, compared to a 0.74% uptick the week before. The average for the same week […] [Read More]

Especially if you are a regular consumer of Auto Remarketing content, you might agree with Kerrigan Advisors that the auto dealership buy/sell market is on track for another record year. The firm detailed how the market continued its momentous pace during the third quarter through its latest report released on Thursday. According to the Third […] [Read More]

In past years, I would have been advising you to use the down time in the last quarter of a year to make assessments about your operation. Under normal circumstances it is time to evaluate your staff, look into your underwriting and plan inventory levels for the coming year. However, 2021 has not been “usual,” […] [Read More]

On Wednesday, America’s Car-Mart announced its second dealership acquisition in roughly the past 60 days. At the beginning of October, this year’s Independent Dealer of the Year acquired a store in Oklahoma. And now, Car-Mart announced it has entered into a definitive agreement to purchase the ongoing dealership assets of Smart Auto Inc., which include Smart […] [Read More]

Cox Automotive chief economist Jonathan Smoke again offered context about the potential influence on auto financing that the Federal Reserve last policy action of the year might have. On Wednesday, the Federal Open Market Committee decided unanimously to keep the target range for the federal funds rate at 0 to 0.25%, with Fed chair Jerome […] [Read More]

While a Maryland Lincoln dealer near the nation’s capital is in construction mode, a store manager with more than 20 years of industry experience purchased his own dealership on the West Coast. Separate news releases detailed Alex Perdikis’ plans for a new Lincoln rooftop in Bethesda, Md., and Vikas Mehandroo fulfilling his goal of becoming […] [Read More]