October 2020

‘A much quieter and stable’ wholesale car market in Canada

MARKHAM, Ontario –  Here’s a phrase you don’t often hear during 2020’s topsy-turvy automotive market: “much more even-tempered.” But alas, that’s how Canadian Black Book describes wholesale vehicle price trends at October’s end. There was a 0.03% dip in prices this past week for both truck segments and car segments — a decline that is “quite small” when weighed against what usually occurs in late October, CBB said. “As we near the end of the month of October, we continue to observe the wholesale vehicle market is much more even-tempered compared… Read More »‘A much quieter and stable’ wholesale car market in Canada

Byrider franchisee returns to northern Louisiana

Thursday, Oct. 29, 2020, 10:11 AM MONROE, La. –  Multiple hurricanes pushing through Louisiana haven’t slowed a Byrider franchisee from opening a revamped facility. The network of buy-here, pay-here dealership announced this week Byrider is returning to Monroe, La., with a new store opening set for Friday, less than 48 hours after Hurricane Zeta swept through the state as the fifth hurricane to strike Louisiana this season. Owned by Earth Auto Sales, the store operates out of the same location as the former Monroe dealership. According to a news release, the… Read More »Byrider franchisee returns to northern Louisiana

JPMorgan Chase exec to become Texas Capital CEO

DALLAS –  New leadership now is in place for one of the primary capital providers for buy-here, pay-here dealers This week, Texas Capital Bancshares, the parent company of Texas Capital Bank, announced that Rob Holmes has been appointed chief executive officer, president and a member of the board of directors of both companies, effective Jan. 24. Holmes will succeed Larry Helm, who has served as executive chair, CEO and president since May. The bank said Helm will step down as CEO and president on Jan. 24 and continue as executive chair… Read More »JPMorgan Chase exec to become Texas Capital CEO

LocateSmarter welcomes ‘SkipGuru’ as director of training and development

CEDAR FALLS, Iowa –  The “SkipGuru” has embarked on his next professional challenge. Alex Price, the frequent Used Car Week speaker and skip-tracing expert widely known as the “SkipGuru,” joined LocateSmarter, a data and analytics company, as director of training and development in a move that was effective Oct. 1. According to a news release distributed this week, Price will use his experience in skip-tracing to bring LocateSmarter’s online search platform to expanded markets. LocateSmarter, a subsidiary of CBE Companies, was formed in 2012 with a mission to deliver next generation… Read More »LocateSmarter welcomes ‘SkipGuru’ as director of training and development

Younger buyers a main factor in 2020 pandemic pickup truck demand

CAMBRIDGE, Mass. –  The COVID-19 pandemic may have helped spur pickup truck sales over the course of 2020. The main reason for that trend: younger car shoppers. That is one finding from the CarGurus 2020 Pickup Truck Sentiment Study. The study examines how COVID-19 has had an impact on sentiment related to the pickup truck segment. The study shows optimism regarding pandemic truck purchasers, but it also showed what it described as “potential headwinds” for the segment. One of those is that affordability issues have continuously pushed owners out of the… Read More »Younger buyers a main factor in 2020 pandemic pickup truck demand

CARFAX offers details on its continued Canadian growth

LONDON, Ontario –  To accommodate its continuing growth in Canada, CARFAX said it will add hundreds of highly skilled jobs in the next few years. To house the expanding 230-plus person team, the company invested in a new 48,555-square-foot, state-of-the-art office space. The office space was a relocation of CARFAX’s Canadian headquarters to the historical landmark at 100 Kellogg Lane in London, Ontario. The company said CARFAX teams in London support the Canadian market and teams that support the U.S. portion of the business. The company’s shared mission is to help… Read More »CARFAX offers details on its continued Canadian growth

Lane watch: Wholesale values dip for seventh consecutive week

LAWRENCEVILLE, Ga. –  Black Book reported wholesale values declined for the seventh week in a row. Meanwhile, analysts said in their latest COVID-19 Market Update that after falling two weeks ago, retail prices for used vehicles have stabilized. According to Black Book’s volume-weighted data, overall car segment values decreased 0.74% over the past week. The drop was larger than a week earlier when analysts pegged it at 0.59%. “Compact cars have been extremely volatile throughout the pandemic, with a sharp fall initially, then followed by a steady rebound,” analysts said in… Read More »Lane watch: Wholesale values dip for seventh consecutive week

Swapalease finds 5 ‘Spooktacular’ lease deals to close October

Wednesday, Oct. 28, 2020, 03:40 PM CINCINNATI –  Perhaps you’re well past the age to go trick-or-treating. But Swapalease.com announced five “spooktacular” lease deals for the Halloween holiday that might help your dealership move some metal, which certainly could be a sweet way to close the month. The “spooktacular” lease deals aren’t just for base-model units, either, as site experts found diverse vehicle options based on new-lease price data for October. The vehicles that Swapalease pinpointed include: — Nissan Sentra: Offered at $149 per month, Swapalease highlighted the Nissan Sentra offers… Read More »Swapalease finds 5 ‘Spooktacular’ lease deals to close October

Dealer trade-ins from TradeRev now part of ADESA recommendations carousel

CARMEL, Ind. –  KAR Global says it has enhanced its ADESA.com recommendations carousel to include dealer trade-ins from TradeRev. The updated recommendations carousel is the latest of modernizations to ADESA’s digital marketplace. The company said the modernizations can help dealers find profitable and high-demand used vehicles tailored to their unique business needs. KAR said that with the new integration between the ADESA and TradeRev marketplaces, U.S. dealers can gain more data, choices and opportunities to turn a higher profit in less time. The more than a dozen real-time personalized vehicle suggestions in… Read More »Dealer trade-ins from TradeRev now part of ADESA recommendations carousel

NIADA hires new CEO from third-party logistics industry

Wednesday, Oct. 28, 2020, 01:17 PM ARLINGTON, Texas –  The National Independent Automobile Dealers Association has a new chief executive officer. Hired for the role and replacing longtime CEO Steve Jordan, who left in August and is now an executive at KAR Global, is Robert Voltmann, who comes over to NIADA from the third-party logistics industry. Voltmann was most recently the president and CEO of the Transportation Intermediaries Association, a post he held for 23 years. Prior to that, he was National Industrial Transportation League’s director of policy. Voltmann also served… Read More »NIADA hires new CEO from third-party logistics industry