Wholesale vehicle prices were up in Canada last week, but only slightly, according to the latest weekly report from Canadian Black Book. Overall, prices climbed 0.08%, compared to a gain of 0.35% the prior week. The average for the same week during 2017-2019 was a dip of 0.19%, CBB said. Car segments were ahead of […] [Read More]

Back in February, HyreCar named a new president along with executives for the roles of chief technology officer and senior vice president of product and operations. On Wednesday and just five days before joining the Russell 3000 Index, the carsharing marketplace for ridesharing, food, and package delivery services announced the appointment of a new chief […] [Read More]

Volkswagen dealerships have another option when working with their service-drive customers who encounter repair costs higher than they expected and cannot pay with available cash. As a result, participating stores collectively already are seeing millions in additional service revenue. On Wednesday, Sunbit, the buy now, pay later (BNPL) technology for everyday needs and services, announced it has […] [Read More]

It’s been an active month for Automotive Ventures. Two weeks ago, chief executive officer and founder Steve Greenfield announced the final closing of the firm’s inaugural venture fund. Then according to a news release distributed on Wednesday, Automotive Ventures’ name surfaced again as it was involved with Lender Compliance Technologies (LCT) — a company that […] [Read More]

Dealerships that have potential buyers who insist they want an American-made vehicle now can point them to Tesla. That’s correct, at least according to Cars.com’s 2021 American-Made Index (AMI) released on Wednesday. Tesla topped the site’s independent, annual list that ranks the new vehicles that contribute most to the U.S. economy based on criteria ranging […] [Read More]

How about these potential signals of improvements for used-car managers scouring the lanes for necessary inventory without using their entire floorplan allotment with a single click or tap? Black Book reported on Tuesday that car segments posted the lowest weekly gain in values in 17 weeks. Analysts added that truck values showed their lowest weekly […] [Read More]

On its website, Recurrent said it aims to "more transparency and confidence in pre-owned electric car transactions" in hopes of driving further EV adoption. Its chief executive officer, Scott Case, joined the podcast to share how the company goes about doing just that. Plus, we discuss the fastest-selling used EVs, the infrastructure still needed in […] [Read More]

Service providers are continuing to respond to the challenge of meeting dealership demand to improve digital retailing capabilities their customers want. On Tuesday, Dealertrack F&I and Tekion today announced the launch of a new digital contracting integration between the two platforms designed so users can deliver an improved digital vehicle-buying experience. According to a news […] [Read More]

Here comes what might be some welcome help for independent dealerships with service departments, or franchised stores that have a vehicle come through their service drive that’s outside of their direct factory purview. LKQ’s diagnostic services business — now branded Elitek Vehicle Services — is expanding its services beyond on-site mobile diagnostics and repair to […] [Read More]

Lithia & Driveway has extended its footprint to Mississippi through the purchase of Toyota of Jackson, the dealer group said Tuesday. Lithia expects the dealership to bring in annualized revenues of $95 million. Since announcing a five-year plan in 2020, Lithia is now at $7.6 billion in total expected annualized revenues acquired. “We are excited […] [Read More]