Retail
Cherokee Media Group’s 2024 Franchise Dealer of the Year: Steven Toyota
Monday, Oct. 21, 2024, 03:47 PM
Alysha Webb, Correspondent
he used-car business is tough for many dealers these days.
Volume is down across the board. Economic conditions are far from ideal, and consumers are feeling anxious. The competition to acquire the right kind of inventory is intense.
Steven Toyota isn’t immune to that pressure, but its used-car business is thriving thanks to ... [Read More]
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Dealer news: End of the line for Beyer Automotive; new arena named for Georgia Ford dealership
Dealer roundup: Swickard expands in Bay Area, plus latest news from Maryland franchised dealers
Carvana, NASCAR’s Jimmie Johnson pay tribute to Grand Canyon State
Wholesale
September continues expected slowdown in commercial sales growth at auction
Friday, Oct. 18, 2024, 10:45 AM
Joe Overby, Senior Editor
While still up double-digit percentages, the growth in commercial vehicle volumes at auction is starting to slow. And that’s to be expected, according to the National Auto Auction Association. Through the first three quarters of 2024, commercial vehicle sales at ... [Read More]
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NAAA launches cybersecurity task force
Lane watch: Assessment remains ongoing of vehicle damage created by hurricanes
ACV co-founder launches reputation-based online auto auction
Technology
Spiffy launches platform that facilitates mobile service departments for dealers
Tuesday, Oct. 22, 2024, 06:30 AM
Auto Remarketing Staff
Spiffy is giving dealers a way to “efficiently launch and scale mobile services,” providing them the backend infrastructure to take their service departments on the road. The mobile automotive service provider said Tuesday it has launched a digital servicing platform ... [Read More]
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Gubagoo chat, digital retailing selected for Audi Digital Program
COMMENTARY: Does AI signal the death of the automotive salesperson?
CarGurus opens new HQ in Boston, launches marketing campaign with NFL legend Drew Brees
Financial
EFG launches program that guarantees PRU increase for dealers
Tuesday, Sep. 24, 2024, 03:21 PM
Auto Remarketing Staff
With dealership profitability down over the past two years, EFG Companies wants to give auto dealers a way to boost their personal wealth creation strategies. To that end, the F&I and reinsurance provider has introduced its Wealth Builder Profit Participation ... [Read More]
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Analysis
7% hike in wholesale vehicle volumes likely in 2024 before brief dip
Monday, Oct. 21, 2024, 04:46 PM
Joe Overby, Senior Editor
Overall wholesale vehicle volumes are expected to increase more than 7% this year before dipping slightly in 2025 then resuming a climb toward an annual pace of 12 million units, according to a Cox Automotive forecast.
The company projects 11.4 million wholesale units this year, up from 10.6 million in 2023, when volumes rose 19.1% from the trough of 2022.
Cox Automotive anticipates a slight dip to 11.3 million in 2025, followed by increases the next four years, with the wholesale market reaching 12.1 million by 2029.
And much of that will continue to ... [Read More]
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How wholesale vehicle prices fared in first half of October