Not only did soaring wholesale prices push the Manheim Used Vehicle Value Index to a new record, but the February reading also smashed the previous high by 5.5 points. Cox Automotive reported on Friday that wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) increased 3.79% month-over-month in February. That climb brought the […] [Read More]

At the beginning of the pandemic last year, personal protective equipment was in short supply in New York. The Greater New York Automobile Dealers Association, or GNYADA, and its president Mark Schienberg found a supplier abroad that was able to ship masks to the association within weeks.  For that help in cutting through the red […] [Read More]

Market Scan co-founder and president Rusty West joins the Auto Remarketing Podcast, where he talks with senior editor Joe Overby about why the puzzle pieces are in place for digital retailing in 2021. Plus, they talk a little auto racing. To listen to this episode, click on the link available below, or visit the Auto Remarketing Podcast page.  […] [Read More]

Editor's Note: This is Part II of a three-part series on how the auto auction industry was impacted by and responded to the destructive winter storm that hit the central U.S. in mid-February. This piece examines the strategies of independent auto auctions.  Part I looked at ADESA's use of technology to facilitate remote sales allowed it […] [Read More]

The National Independent Automobile Dealers Association is planning a Texas-sized celebration for its 75th anniversary. The association announced on Friday that it will return to an in-person NIADA Convention and Expo after a year of virtual events due to the COVID-19 pandemic. The 75th annual NIADA Convention and Expo will be conducted on Aug. 23-26 […] [Read More]

Finance company executives and managers having a sit-down meal at a restaurant now might be even more enjoyable than for just the delicious dish and social comradery. Their outstanding portfolio might be much more appetizing, too, because of the rebound the job market made in February, aided by what’s cooking in the restaurant sector. What […] [Read More]

NowLake Technology — the result of the recent uniting of Westlake Technology Holdings and Nowcom Corp. — is now collaborating with a startup that’s gained momentum in the past six months. After launching in Chicago in September and adding five industry leaders to its advisory board a month later, Carsfast formed a strategic partnership with […] [Read More]

Financial institutions that leverage Origence, a CU Direct brand, now have better access to CARFAX data through a new partnership between the companies announced on Thursday. The expanding network of financial institutions using the Origence consumer loan origination system (LOS) for indirect auto financing now can get CARFAX Vehicle History Reports with just one mouse […] [Read More]

The insurance portion of potential F&I activities at the dealership might have gotten a boost via a move by Darwin Automotive and Fetch. This week, Darwin announced that its platform is now seamlessly integrated with Fetch, an electronic auto insurance comparison site that specializes in insurance carriers that offer policies for people with all types […] [Read More]

If you were at Used Car Week 2019, you may have noticed the massive, spider-like contraption at one corner of the expo hall. But that was no arachnid. Rather, it was the vehicle imaging platform in the exhibit space of Black Widow, which aims to provide a more efficient and effective way to photograph vehicles, particularly as […] [Read More]