The wholesale market is proving to be one streaky environment this year. Following the unprecedented run-up in wholesale values, Black Book reported Tuesday that prices continue to trend downward, as they dipped for the seventh week in a row. Seven consecutive weeks also represent how long analysts have seen auction sales rates below 70%. During the […] [Read More]

Privacy4Cars announced a Series A investment round Tuesday led by FM Capital, with additional investment by Automotive Ventures. The round is the first fundraising from institutional investors for Privacy4Cars, a tech company that aims to identify and resolve data privacy issues in the auto industry. Both FM Capital and Automotive Ventures specialize in the automotive/transportation […] [Read More]

Vroom continues its expansion, with news coming Tuesday that it has opened a Phoenix Last Mile hub in Tolleson, Ariz. While the online retailer has delivered cars in the area since its 2012 founding, the hub provides a delivery experience that “more personalized concierge service where customer advocates transport cars directly to car buyers’ driveways […] [Read More]

At least seven companies that operate within the used-vehicle industry have been included among the Inc. 5000; the prestigious annual ranking of the nation’s fastest-growing private companies. Two of the highlighted firms provide vehicle transportation services as the listing included ACERTUS and Montway Auto Transport. Not only have the companies on the 2021 Inc. 5000 […] [Read More]

There’s a strong connection between the auto industry and motorsports — particularly among dealership groups — and one Michigan auto retailer is adding to it this weekend. With its sponsorship of driver Josh Bilicki of Rick Ware Racing, Sunday’s Firekeepers Casino 400 at the Michigan International Speedway will mark the first time that Zeigler Auto Group […] [Read More]

Information recently shared by NextGear Capital reinforced which vehicles are clearly the ones being stocked and retailed by independent dealers. According to its industry data, six of the top 10 vehicles floor planned with NextGear during the first and second quarters of this year represented the two most popular vehicles in America — the Ford […] [Read More]

DriveItAway is continuing to forge partnerships to help dealerships turn vehicles while giving consumers the opportunity to secure transportation and rebuild their credit. Via a news release distributed Tuesday, the provider of subscription to ownership technology that can enable anyone, regardless of down payment or credit score, a transparent risk-free digital process to buy a […] [Read More]

Much like the retail side of the used-car market, digitization and new business models in the wholesale car business have increased the number of ways buyers can acquire inventory. Leaders with several of these “Emerging Marketplaces” in wholesale will be on hand for a panel discussion at the IARA Summer Roundtable in San Antonio. Moderated by […] [Read More]

The National Auto Auction Association launched its autoauctionjobs.com in 2019 with the notion of creating a one-stop, registry of technical schools and scholarship opportunities for young people interested in pursuing careers as service technicians. Then came 2020. And on its heels, COVID-19. NAAA continued working on the program and identifying technician apprenticeships throughout 2020, but […] [Read More]

As if dealerships didn’t have enough headwinds just in contending with tight inventory and high prices, Cox Automotive chief economist Jonathan Smoke spotted a development he said hasn’t been seen in three decades. What prompted Smoke to make the assertion on Monday was what surfaced on Friday as the University of Michigan said, “Consumers reported […] [Read More]