June 2021

INDIANAPOLIS –  Driven Data, which is an advanced software marketing provider and digital marketing agency for the retail auto industry, announced the closure of a $4.5 million Series B fundraising round led by Dealer.com co-founder and private investor Rick Gibbs along with JHCapital, LLC. Gibbs is the chairman of Driven Data. “To say Driven Data’s platform is ‘impressive’ would be a huge understatement — it is visionary in the truest sense,” Gibbs said in a news release. “As Google, Apple and Facebook re-write the rules around how advertisers handle privacy, targeting and… Read More »Driven Data announces $4.5M Series B funding led by Dealer.com co-founder

SPOKANE, Wash. –  It’s hard to argue with the statement McConkey Auction Group chief executive officer Bob McConkey made Wednesday when announcing details for DAA Northwest’s Rock & Roll Sale. “After the year we’ve all been through, we are ready for a party,” McConkey said in a news release, announcing the headlining musical act for the auction’s signature promotional event that will feature The Barenaked Ladies (BNL) on the DAA Stage. Now in its 26th consecutive year, DAA Northwest’s Rock & Roll Sale will take place on Aug. 25-26. “Last year’s… Read More »The Barenaked Ladies to headline DAA Northwest’s Rock & Roll Sale

CARY, N.C. –  Ken Robinson, who is market research manager at Motus, joins the podcast to talk about new research report from the company titled “A Shift in Service Delivery: On-Demand Services Shape 2021.” Robinson discusses the “hybrid” approach to digital automotive retail, on-demand delivery of vehicle maintenance services, an online marketplace approach to car insurance and more. To hear the conversation, click on the link available below, or visit the Auto Remarketing Podcast page.  Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.  Source Article

Wednesday, Jun. 30, 2021, 01:40 PM PHOENIX –  Carvana stands one market shy of offering as-soon-as next-day vehicle delivery to customers in 300 different locations. On Wednesday, the online used-vehicle retailer officially rolled into market No. 299, as Carvana announced through a news release that it’s working with buyers in Wichita, Kan. About a month ago, Carvana expanded into seven markets in Washington, Louisiana and Texas. Now, the retailer has a presence in the middle of the Sunflower State. “Launching in Wichita brings as-soon-as next day vehicle delivery to even more… Read More »Carvana now just 1 away from operating in 300 markets

SEATTLE –  Philadelphia, Pittsburgh and Reading have more in common than just being three cities in Pennsylvania. A report generated by doxo, an innovative web and mobile bill pay service, showed the trio from the Keystone State is among locations where consumers are paying the least each month on their retail installment contracts. Collectively, finance-company and insurance-provider customers in Philadelphia, Pittsburgh, Reading and throughout the United States are spending $698 billion annually on auto loans and insurance combined, according to recently released doxoINSIGHTS reports. The firm arrived at that total figure and… Read More »Top 5 metro areas & smaller cities where consumers spend most and least on loans & insurance

CARMEL, Ind. –  Tom Kontos’ “parity” projections for the wholesale market are coming to fruition. The KAR Global chief economist explained his thinking in the latest Kontos Kommentary that showed how average wholesale prices surged past $15,000 in May after passing the $14,000 for the first time ever just a month earlier. According to KAR Global Analytical Services’ monthly analysis of wholesale used-vehicle prices by model class, Kontos indicated wholesale prices in May averaged $15,001. That’s up 3.9% compared to April, 26.5% higher relative to May of last year and 28.6%… Read More »Why Kontos sees ‘parity’ in the wholesale market

CARY, N.C. –  For 54 consecutive weeks, there was neither a car nor a car dealer that passed through the lanes of McConkey Auction Group’s DAA Seattle or DAA Northwest locations in Washington state — which was the “initial epicenter” of the COVID-19 pandemic in the U.S. But after closing completely for two months and re-opening in the second week of May 2020 with all-digital sales, what Bob McConkey saw in the marketplace gave him confidence. “What I discovered then was that, the last 15 years of my investment into the… Read More »State of the Used-Car Industry: Remarketing

Tuesday, Jun. 29, 2021, 01:56 PM CARY, N.C. –  Dominion DMS president Sharon Kitzman joins the show to talk about the company’s VUE DMS, findings from the 2021 DMS Dealer Sentiment Survey and much more. Earlier this month, the company released results of its 2021 DMS Dealer Sentiment Survey, a commissioned independent study involving 220 DMS decisionmakers from dealerships to determine attitudes toward their current dealer management system. The cloud-native solution provider highlighted five key findings from dealers, chief financial officers, general managers, controllers and fixed operation managers at large and… Read More »PODCAST: Dominion DMS president Sharon Kitzman

CARY, N.C. –  Three large dealer groups are having a busy finish to June, not just related to meeting monthly and quarterly sales and revenue objectives. Lithia & Driveway acquired another franchised dealership, a top Asbury Automotive Group resigned and Holman Automotive opened a luxury brand rooftop. Beginning with Lithia, the publicly traded group announced its third store acquisition this month. Now in its portfolio is Michael’s Toyota in Bellevue, Wash., which is expected to generate $235 million in annualized revenues. According to a news release, this Toyota location has historically… Read More »Dealer group roundup: Latest moves at Asbury, Holman & Lithia

MISSISSAUGA, Ontario  –  In addition to new digital retailing capabilities, Mitsubishi Motors Sales of Canada has named a new president and chief executive officer. The company announced Thursday that Kenji Harada, who has been the MMSCAN’s chief operating officer since April 1, would become acting president and CEO immediately, and then officially assume the post on July 1. Harada replaces Juyu Jeon, who has headed up MMSCAN the last two years. Jeon, who has been with the company for four years, is returning to Japan. Jeon has been named general… Read More »Mitsubishi names new president & CEO for Canadian business