ACV kicked off several pilot programs in its second quarter and is using those learnings to fine-tune and craft next-generation, artificial intelligence-powered products, said the company’s CEO, George Chamoun. Chamoun commented on some of those endeavors during ACV’s conference call detailing its earnings for its second quarter, which ended June 30. Two pilot programs Chamoun […] [Read More]

Dealership groups that own and operate wholesale auto auctions aren’t that common. But among those that do, many offer their customers conveniences and safeguards commonly found at traditional auctions: Digital buying, extensive photos, detailed condition reports, disclosures, arbitration policies and the opportunity for dealers to kick the tires in person and maybe do their bidding […] [Read More]

August: the month when summer begins to wind down and school begins. Along with afterschool activities, football practices, etc. And maybe a last-minute family vacation. So that might lead to higher demand (and thus, prices), for minivans and vans, right? But oddly enough, used prices for these vehicles fell $680 month-over-month in August, according to […] [Read More]

Paul Antony’s tone was somber as he addressed analysts and media in AutoCanada’s second quarter 2024 earnings call, telling them the company’s “recent performance has not met our own expectations” in the wake of sinking revenue and a reported $33.1 million net loss for the quarter. A little more than a year later, he was […] [Read More]

Listeners of Sonic Automotive’s second-quarter 2025 earnings call learned one thing for certain: The company is happy with how its used-vehicle business, EchoPark, performed in the quarter. Very happy, in fact. “EchoPark is just on fire,” Sonic president Jeff Dyke said in response to an analyst’s question during the Q&A portion of the July 24 […] [Read More]

Earlier this year, Tony Hall and Paul Lips were working to resolve an issue with Oklahoma’s vehicle title policy when their discussion veered off in a different direction. Hall, Carvana’s head of policy, title and registration modernization and chairman of the eSTART Coalition’s advisory board, told Lips, executive director of the National Auto Auction Association, […] [Read More]

AutoNation is moving ahead with plans to expand its AutoNation USA used-car store footprint this year, said its CEO Michael Manley. “You’re going to see additional openings of (AutoNation) USA businesses this year; for sure they’re already planned, they are already in development,” Manley said during AutoNation’s July 25 earnings conference call covering the second quarter that ended June 30. AutoNation announced ... [Read More]

While the core of TrueCar’s business model continues to be connecting dealers with in-market car shoppers, the company sees its wholesale vehicle sourcing products as key way to further address the needs of its dealer customers. Especially as dealers prioritize used-car acquisitions amid tight supply. Market conditions give the company opportunities “to leverage our ... [Read More]

Cars Commerce’s wholesale-related business units — Accu-Trade and DealerClub — are growing, sure. But perhaps just as important, they’re helping the company on its path to, “fully closing the loop between retail, wholesale, and appraisal technologies to complete a comprehensive used car solution,” CEO Alex Vetter said in Cars Commerce’s second-quarter earnings call. And that's possible through ... [Read More]

Dealer-to-dealer sales within OPENLANE’s marketplace segment climbed a double-digit percentage for the third straight quarter, and while commercial sales slowed, that decline was expected and likely temporary. In the second quarter, there were approximately 182,000 dealer units sold through OPENLANE, up 21% year-over-year and up 6% from the first quarter, the company said in earnings results released last week. That represents a gross merchandise value of $2.5 billion, up from $1.8 billion a year ago. Commercial volumes came in at ... [Read More]