As a dealer, you want payment for services rendered, correct? To help make sure that happens in the smoothest possible way for your customers and employees, CDK Global launched CDK OnePay, a dealership-wide payment solution fueled by Global Payments. The companies highlighted that CDK OnePay is designed to help dealers create a frictionless customer experience […] [Read More]

Black Book’s latest installment of Market Insights showed how dealerships now are paying nearly $27,000 for a piece of inventory that cost just $20,000 at the beginning of the year. And there’s little evidence to refute the notion that the same unit might approach $30,000 soon stemming from the current pace of wholesale price increases. [Read More]

Lithia Motors & Driveway continues to add to its store count, announcing the purchase of Southwest Kia Auto Group on Tuesday. The Texas group has five stores throughout the Dallas and Austin markets. Lithia expects the addition will bring in annualized revenues of $350 million. Since announcing a five-year plan in 2020, Lithia is now […] [Read More]

May was another strong month for used-car sales, as the industry continues to rebound. In fact, Cox Automotive indicated in a recent Data Point report that the SAAR was 41.0 million last month, up from 39.9 million a year ago and steady with April figures.    But how have overall used-car sales fared so far […] [Read More]

With longtime Cox Automotive executive Janet Barnard retiring at the end of the month, the company announced on Tuesday who its new chief people officer is. Cox Automotive said through a news release that Michele Parks is taking on this position, leading a team responsible for recruiting, developing and managing talent for more than 25 […] [Read More]

A little inside baseball for a moment, if you don’t mind. At Cherokee Media Group, we’ve got two reports coming up that essentially serve as mid-year retrospectives, albeit in two different forms. One is the July issue of Auto Remarketing, which will provide a “Mid-Year Report” on the retail, wholesale, finance, repossession/collections and buy-here, pay-here […] [Read More]

Perhaps when auto-finance executives thought defaults couldn’t get any lower, the industry responded with, “Hold my beer!” According to the newest data compiled by S&P Dow Jones Indices and Experian, auto defaults now are at the lowest reading ever recorded. [Read More]

CarLotz said Monday it expects it will be added to the broad-market Russell 3000 Index and the Russell 200 Index, once the 2021 Russell indexes annual reconstitution finishes. The addition will be effective after the U.S. market opens on June 28. CarLotz said this is based on a June 4 preliminary list of additions. The […] [Read More]

If you feel like you’ve aged a bit after the pandemic, you’re not the only one. The vehicle population is getting older, too. [Read More]

Privacy4Cars is looking to make its solutions as robust as the complexities that come with keeping consumers’ information protected. Last week, the 2021 Emerging 8 honoree and tech company focused on creating privacy and compliance solutions for vehicles announced a suite of new tools. Privacy4Cars highlighted the products further the company’s mission of driving privacy […] [Read More]