July 19, 2018 - Industry News
June wholesale prices for used vehicles up to eight years in age fell by an average of 0.9% compared to May. Losses at the segment level were less than historic norms across the board on both the mainstream and premium sides of the market, the firm said.
Tags: Auto Auctions, J.D. Power Valuation Services, Wholesale Pricing
July 18, 2018 - Industry News
The company reported that 45% of vehicles sold in the first half were to digital buyers on Manheim.com. The firm also detailed enhancements it’s planning to make to the Manheim Marketplace over the next few months.
Tags: Auto Auctions, digital, Manheim, Manheim Marketplace, RMS Automotive
July 16, 2018 - Industry News
With today’s announcement, Black Book valuation data will be integrated with all EVs listed in the MYEV.com system, which will help buyers and sellers ensure they’re reviewing the most accurate and up-to-date valuations within the market.
Tags: digital marketing, digital retailing, lead generation, MYEV.com, Third-party leads
William Montez Perkins II is the recipient of the 2018 Rising Star Award, presented by Cox Automotive and the National Association of Minority Automotive Dealers.
The deal was first reported on Sunday by The Banks Report, which described the pending acquisition as checking off 'several boxes for CDK while filling a big product hole — a viable integrated CRM platform with significant market share.'
Tags: CDK Global, CRM, digital marketing, digital retailing, DMS, ELEAD1ONE, online F&I
July 12, 2018 - Industry News
The compliance sweep, which took place in seven states, is the first since the agency's new Used Car Rule took effect earlier this year. Dealers who failed to comply could face penalties of up to $41,484 per violation.
Tags: compliance, Federal Trade Commission, Used Car Guide, used cars
McGeorge Toyota is the latest dealership operation to add Roadster’s Express Storefront digital retailing platform. The dealership refers to its new website feature as ‘McGeorge @Home.’
Tags: digital retailing, Express Storefront, McGeorge Toyota, online F&I, Roadster
July 10, 2018 - Industry News
A $6.5 million renovation and expansion added 39,000 square feet to Hartford, Conn.’s New Country BMW retail footprint.
July 9, 2018 - Industry News
The company’s web-based merchandising platform is now available in Philadelphia, Louisville, Ky., Long Island, N.Y., and northern New Jersey. It allows dealers to instantly create and customize an infinite array of point-of-sale visuals.
Tags: branding, LotMonkey, marketing, point of sale, showroom
July 5, 2018 - Industry News
June’s annual percentage rate of 5.82% marked a 17% increase since January 2018. Add rising rates to a virtually saturated U.S. market, record-high vehicle prices, and historically high numbers of people who owe more than their cars are worth, and the stage is set for a market contraction, the firm said.
Tags: Edmunds, Federal Reserve, interest rates, Negative Equity, new-vehicle sales, SAAR, used-vehicle sales
July 3, 2018 - Industry News
Wholesale values continued to see little change last week, although demand for sporty cars appears to be dwindling as the average value of that segment has begun to drop.
Tags: Black Book, used-vehicle values, vehicle depreciation, wholesale values
July 2, 2018 - Industry News
The integration allows the digital engagement company to deploy its artificial intelligence-powered real-time messaging solution, Response Path, on Facebook Messenger.
Tags: Digital Air Strike, digital engagement, digital marketing, social media marketing
Florida Fine Cars will launch AmeriDrive, a new subscription service that will operate on Cox Automotive’s and ARI’s Flexdrive platform.
Lexus and TagRail have partnered to offer dealers a comprehensive new digital retailing tool.
June 28, 2018 - Industry News
Retail sales for the first half of 2018 are expected to be the weakest since 2014, but record transaction prices have consumers on pace to spend nearly $5 billion more on new-vehicle purchases during the period compared to a year ago.
Tags: Forecast, J.D. Power and Associates, LMC Automotive, new-vehicle sales
June 27, 2018 - Industry News
The startup’s war chest now totals $30 million after securing $15 million in new funding. The announcement comes on the heels of two other major developments for the San Francisco-based startup, including new relationships with Lithia Motors and Lexus.
Tags: digital retailing, Ecommerce, online F&I, Roadster
June 26, 2018 - Industry News
Bryan Klann’s appointment bolsters DealerSocket’s leadership team and provides the firm’s sales and marketing team with a more than 20-year software industry veteran with a track record of growing revenue.
Tags: CRM, DealerSocket, Desking, digital retailing, F&I, Precise Price, showroom, technology
June 25, 2018 - Industry News
The transformation is designed to make it easier and faster for dealers to do business with Manheim anytime and anywhere.
June 21, 2018 - Industry News
The firm’s 2018 study revealed a 4% increase in initial quality from a year ago, with Genesis, Kia, and Hyundai topping the annual study’s rankings.
Tags: Genesis, Hyundai, Initial Quality Study, J.D. Power, Kia
June 20, 2018 - Industry News
May’s wholesale prices for used vehicles up to eight years in age fell 1.7% from the prior month, a level that’s typical for this time of year, the firm stated in its June Used Car and Light Truck Guidelines report.
Tags: J.D. Power, used-vehicle values, Wholesale Pricing
Dealers and dealership personnel have recognized 70 companies and individuals in 34 categories in the 2018 Dealers’ Choice Awards.
May new-vehicle sales grew by 4.8% from the year-ago period, while average incentive spending per unit grew 6.6% from a year ago to $3,740.
Tags: incentive spending, J.D. Power, new-vehicle sales, SAAR
June 18, 2018 - Industry News
New metrics offered by dealerTEL were designed to help dealers track call success at the most crucial point: after the phone is answered in-house.
June 13, 2018 - Industry News
Although shoppers continue to flock toward pricier trucks and SUVs, steadily rising gas prices are beginning to stimulate consumer demand and increase residual values for smaller vehicles.
Tags: Edmunds, Gas Prices, used-vehicle prices, used-vehicle values
The firm named Steve Langdon, who joined the KAR family 15 years ago, to the role. The more than 20-year industry veteran will be responsible for implementing the ADESA Canada dealer sales strategy and promoting KAR’s integrated digital, mobile and physical auction services.
Tags: ADESA, ADESA Canada, Kar Auction Services, Steve Langdon
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