Almost overnight, it seems artificial intelligence is revolutionizing industries worldwide, and its impact on automotive is no exception. With the help of AI, automotive finance and lease businesses are already streamlining processes, improving customer experience, and detecting fraud. For lenders, AI offers a more efficient underwriting approval process. For borrowers, AI-powered platforms make it easier […] [Read More]

The practice of markdowns has long been a cornerstone of retail strategy across various industries, and the auto sector is no exception. Historically, the manufacturer’s suggested retail price (MSRP) has been a constant part of a vehicle’s pricing, and an important element of the car-shopping process for consumers despite changing economic trends over the years. […] [Read More]

For the first time ever, an electric vehicle was the month’s best-selling vehicle at Manheim. Another first: two EVs cracked the auction’s list of five best-sellers in a month. That’s what happened in June, when the 2023 Tesla Model 3 ranked as the No. 1 seller for the auction company and the 2023 Chevrolet Bolt […] [Read More]

Next up on our series of Auto Remarketing Podcast episodes from the Canada’s Used Car Week Podcast Stage is a conversation with Megan Mahon, head of sales enablement at Premier Truck Rental. Mahon talks with Cherokee Media Group senior editor Joe Overby about her session “Find Your Fight Song,” which shows how music can help […] [Read More]

Wait, did I say if? I meant when! In this business, something will always eventually go wrong. Whether it’s because of outside forces or it’s self-inflicted, it’s only a matter of time before something disrupts how we operate. You can’t rely on things running smoothly all the time. It simply doesn’t work that way. You […] [Read More]

The used-car retail sales environment last month didn’t improve from May, but showed year-over-year growth in June, according to reports from industry observers. According to the latest “State of the Dealer” report from ZeroSum, dealers moved 1.29 million used vehicles in June, which was steady with May, but up from 1.14 million in June 2023. […] [Read More]

The respective Black Book and Cox Automotive used-vehicle value indices both reached their lowest levels since March 2021, but the erosion in wholesale prices could be on its way out, according to analysis accompanying one of the reports. Cox’s Manheim Used Vehicle Value Index came in at 196.1 last month, down 8.9% year-over-year and 0.6% […] [Read More]

The theme of Cox Automotive’s 2024 midyear review is… wait for it … No, I mean, that’s the theme: Wait for it. Uncertainty is the name of the game right now in the automotive market, according to chief economist Jonathan Smoke and Cox’s team of analysts, as consumers wait for any number of things — including ... [Read More]

The National Insurance Crime Bureau (NICB) and the National Highway Traffic Safety Administration (NHTSA) are intensifying their respective work this month. NICB and NHTSA are raising awareness during National Vehicle Theft Prevention Month to promote education to encourage collaboration between law enforcement and vehicle owners. Earlier this year, NICB released a vehicle theft trend analysis, […] [Read More]

While automotive recalls in the second quarter of 2024 declined significantly from Q1, the total number of recalled vehicles for the year has soared past 14 million, according to the latest quarterly recall report from recall management platform BizzyCar. The report, which analyzed data from the National Highway Traffic Safety Administration and U.S. Department of […] [Read More]