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Not just high gas prices: ‘Supply story’ helps drive surging used EV & hybrid market
The used electric and hybrid vehicle market was already set to benefit from a boost in supply. Now, the recent surge in fuel costs has led to greater demand, higher prices and quicker turn times for these vehicles. And significant increases in sales. Citing the U.S. Energy Information Administration, Cars Commerce said in its April […]
Commercial & dealer sales soar at OPENLANE in Q1
Along with the company reporting double-digit-percentage gains in overall revenue, net income and adjusted EBITDA, OPENLANE’s marketplace unit sold 19% more vehicles in the first quarter than it did a year ago, with both dealer and consignor sales thriving. OPENLANE is already seeing a lift from increased lease returns, a trend it expects to continue […]
Dealer group C-suite executives examine role of AI at auto retailers
Artificial intelligence in auto retail, says Zeigler Auto Group chief operating officer Sam D’Arc, is in a similar place as digital retail was 4-5 years ago. There’s a lot of excitement, but perhaps not a complete understanding of how AI should be deployed at dealerships. “There is a ton of solutions out there. There are […]