On Thursday, Open Lending Corp. released a Near- and Non-Prime Consumer Brief, the latest installment in its quarterly series of data reports on vehicle registrations. Despite continued challenges in the vehicle market, the report highlighted new-vehicle registrations have risen and used-vehicle registrations have stabilized in the past year, though supply remains below pre-COVID levels. Analysts […] [Read More]

The automotive retail landscape has undergone significant change in recent years, with dealerships facing new challenges with their inventory acquisition strategies. The traditional methods of sourcing vehicles through trade-ins and wholesale auctions are no longer sufficient to meet the demands of today’s competitive market. Today’s inventory challenges require innovative solutions that leverage sophisticated, real-time technology. […] [Read More]

When it comes to the Canadian wholesale vehicle market, all is calm. For the third month in a row Canadian Black Book’s Used Vehicle Retention Index did not move in October, standing at 136.0 points — same as it was for August and September. The index, which fell every month from April 2022 through June […] [Read More]

DAA Northwest celebrated its anniversary with a gift — to charity. The 32nd annual DAA Anniversary Fundraiser and Sale, held Nov. 6-7, is part of the auction’s tradition of philanthropy, dating to 1997. Since then, DAA’s fundraising events have raised more than $2 million for its community partners, which now include four local nonprofits: Vanessa […] [Read More]

The automotive dealership landscape has seen significant changes in recent years, particularly in the wake of fluctuating profitability and high interests. Following several years where dealers could sell their businesses at a premium on the back of record profits with the associated multiples and Blue Sky, we have entered a new phase following a strong […] [Read More]

Sutherlin Automotive Group is out of the Florida market. The Alabama-based dealership group, owned by Brett Sutherlin, sold its last store in the Sunshine State, Sutherlin Nissan of Vero Beach, to Andy Unanue, according to Pinnacle Mergers & Acquisitions, which represented the seller in the transaction. The dealership has been renamed Nissan of Vero Beach. […] [Read More]

Autocorp.ai has unveiled a new weapon in the war against fraud. The Ottawa-based automotive retail technology provider announced the launch of AVA ID Verified, an identity verification system created to “wage war against the rising tide of fraud targeting dealerships,” the company said, helping dealerships protect their business, strengthen partnerships and improve customer trust. “Fraud […] [Read More]

Canadian automotive leasing company SCI Lease Corp has joined with California-based electric vehicle manufacturer Lucid in a partnership designed to give Canadian drivers access to “flexible, transparent and competitive leasing options” for the Lucid Air. “We are excited to add Lucid to the elite list of automotive manufacturers we partner with, who provide an industry-leading, […] [Read More]

Beyond the rankings of finance companies for how they met consumer expectations, a focal point of the J.D. Power 2024 U.S. Consumer Financing Satisfaction Study was what analysts classified as “financially vulnerable.” J.D. Power measures the financial health of any consumer as a metric combining their spending/savings ratio, creditworthiness and safety net items like insurance […] [Read More]

On Thursday, Black Book rolled out its newest solution for automotive clients to gain information and insight, introducing the Black Book Brand Value Index (BVI). Black Book highlighted BVI measures various aspects of a brand, including brand equity, market position and perception. The company said BVI can be used by automakers and portfolio risk managers […] [Read More]