People whose business it is to know and monitor the Canadian wholesale automotive industry are keeping a watchful eye on wholesale prices and inventory and three potential curve balls that could impact both: — U.S. President Trump’s announcement that his administration will impose 25% tariffs on goods imported into the U.S. from Canada and Mexico (a move that has since been paused) — A change in Canada’s political landscape as a result of Prime Minister Justin Trudeau’s decision to resign — Interest rates and inflation Canada’s wholesale used-car industry is concerned about ... [Read More]

The wholesale car market rang in the year with two major acquisitions involving corporate entities and large players in the space:  On Friday, Cars Commerce announced the acquisition of DealerClub, a reputation-based dealer-to-dealer digital wholesale auction founded last year by ACV founder Joe Neiman, for approximately $25 million, plus additional performance-based considerations.  Just four days earlier, America’s Group announced the purchase of  AuctionVcommerce, a tech platform provider in the auto auction space. That move continues ... [Read More]

Retail used-car shoppers may want to strike while the iron’s hot. (And the metal is relatively inexpensive to move). Especially considering what could be on the horizon in the wholesale used-car market ... [Read More]

Andrew Lemoine expects to see increased digitization as a trend in auto finance, as consumers are “demanding a lot more seamless online buying experiences.” Consumers want that seamless experience in the overall vehicle purchase transaction, and Lemoine, who is founder and CEO of autocorp.ai, said that includes the financing portion. Autocorp.ai provides tools to allow dealerships to sell cars and engage with consumers online. “When it comes to things like pre-approvals and taking the finance deal further in a digital format, I think we can expect to see ... [Read More]

Cherokee Media Group asked Satyan Merchant whether finance companies opened the year with an optimistic outlook, a pessimistic view or something in the middle. The senior vice president and auto and mortgage business lead at TransUnion shared his assessment amid this backdrop: many consumers who are now considering auto financing may be reentering the market with far more complicated credit pictures than they did even just a few years ago. “Cautious optimism is the way I would describe it with auto finance companies. Again, that theme of ... [Read More]

Dealership profits are expected to fall in 2025 – but franchise dealers are still bullish on what’s ahead this year. That’s one finding of a pair of reports issued this month by buy-sell advisory firms based on survey data and projections for the coming 12 months. The 2024 Kerrigan Dealer Survey, a survey of more than 635 franchise dealers conducted by Kerrigan Advisors late last year, found an equal number (43%) believe ... [Read More]

The arrows are pointing up for almost all aspects of the auto retail industry in 2025 – with one notable exception. The supply of used vehicles. In Cox Automotive’s recent 2025 forecast call with industry media and analysts, chief economist Jonathan Smoke painted a rosy picture for what’s ahead. His analysis of economic conditions showed green lights for the overall economy, consumers’ buying ability and auto finance, and no red lights. Interest rates are down and likely to be cut again at least twice this year, providing a little relief from affordability concerns. And car shoppers, who had been ... [Read More]

Roughly once a month, my three siblings and I get together on Google Meet for the “Overby Sibling Book Club.” Yes, we are that cool. It’s a tradition we started in the early days of COVID and have spent the last five years taking turns selecting the book each go-round. As you might expect, the discussion usually morphs from sharing our opinions on the book to ... [Read More]

Normal. Stable. Those are not necessarily words used to describe the used-vehicle market over the last five years, but 2024 closed with analysts calling wholesale price patterns exactly that. Their specific metrics and methodologies differ, but respective monthly used-car value indices from Black Book and Cox Automotive illustrate a wholesale market that’s perhaps as steady as it has been post-COVID ... [Read More]

Anthony Pordon knows that companies can’t stand still when it comes to technological innovation. Pordon is executive vice president of investor relations and corporate development for Penske Automotive Group, and he said the company’s used-vehicle business, CarShop, first started testing artificial intelligence technology in its retail service departments. “By the time you think you’ve got [AI] understood, it’s completely changed,” Pordon said. But AI has helped CarShop customers schedule appointments, which has resulted in ... [Read More]