News

PODCAST: Spencer Beckstead of Frikintech

Tuesday, May. 24, 2022, 03:51 PM Spencer Beckstead, chief revenue officer of Frikintech, joins the show in this latest episode of the Auto Remarketing Podcast. Beckstead and Auto Remarketing senior editor Joe Overby talk about the friction points in automotive and why digital retail complements — not replaces — salespeople, plus Beckstead shares a bit of the background behind Frikintech. To listen to 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

Carousel Motor Group debuts online used-car ecommerce platform

Tuesday, May. 24, 2022, 03:42 PM Carousel Motor Group, which is part of the Pohlad Companies, has launched an ecommerce platform to buy and sell used vehicles. The dealer group teamed up with Cox Automotive to develop the platform, which is called Carousel Online. The platform allows for an entirely digital buying process, including 360-degree virtual tours, concierge experts available online, virtual trade-in evaluations, monthly payment information and no-haggle financing. It also includes aftermarket insurance products, online paperwork and home delivery. “We’ve taken the lessons and wisdom from our brick-and-mortar… Read More »Carousel Motor Group debuts online used-car ecommerce platform

Used EVs spark greater interest among CarMax shoppers

Tuesday, May. 24, 2022, 02:23 PM Consumers are showing greater interest in used electric vehicles, which is evident in their key strokes and in their tire kicking. In a report published last week, CarMax examined used EV search volume on its website and its own test-drive numbers, with each data set going back to January of last year. The EV Test Drives & CarMax.com EV Search Volume Index was set at … Source Article

Lane watch: 2022 models starting to appear

Tuesday, May. 24, 2022, 02:18 PM Overall wholesale prices as well as values for both cars and trucks moved higher last week at almost the exact same pace as the previous week, according to the newest Market Insights released by Black Book on Tuesday. The price climbs arrived as the estimated average weekly sales rate remained at … Source Article

Women & Automotive: Colleen Potts of Lubrico Warranty

Auto Remarketing Canada  is recognizing the 2022 Women & Automotive: Profiles honorees in the current issue of the magazine and at Canada’s Used Car Week next month at the Westin Harbour Castle in Toronto. In the weeks leading up to the June 27-29 event, ARC will be posting Q&As with each of the Women & Automotive honorees on this website. Next up is Colleen Potts, who is the customer & dealer support leader at Lubrico Warranty. Auto Remarketing Canada: What do you enjoy most about working in automotive, and what would you change? Colleen Potts: There are so many… Read More »Women & Automotive: Colleen Potts of Lubrico Warranty

Women & Automotive: Ashley St. Pierre of Fred Martin Auto Group

Auto Remarketing Canada  is recognizing the 2022 Women & Automotive: Profiles honorees in the current issue of the magazine and at Canada’s Used Car Week next month at the Westin Harbour Castle in Toronto. In the weeks leading up to the June 27-29 event, ARC will be posting Q&As with each of the Women & Automotive honorees on this website. Next up is Ashley St. Pierre, marketing director at Fred Martin Auto Group. Auto Remarketing Canada: What do you enjoy most about working in automotive, and what would you change? Ashley St. Pierre: I like the variety a day brings.… Read More »Women & Automotive: Ashley St. Pierre of Fred Martin Auto Group

KBRA spots continued seasonal improvement

Tuesday, May. 24, 2022, 10:39 AM Amazing what federal income tax refunds can do for the health of your portfolio, huh? Kroll Bond Rating Agency (KBRA) said April remittance reports showed auto finance credit performance improved for the second consecutive month across both prime and non-prime securitized pools. According to the firm’s report, annualized net losses in … Source Article

Vehicle population rises, as does vehicle age

Monday, May. 23, 2022, 05:02 PM The average age of vehicles on U.S. roads has never been this high. According to a report from S&P Global Mobility (previously the auto team at IHS Markit), the average age of light vehicles in operation has climbed for five consecutive years, reaching a record age of 12.2 years as of Jan. 1, 2022. That is up from just over … Source Article

AutoNation, TrueCar & wear blue team up for annual vehicle giveaway

AutoNation, TrueCar and wear blue: run to remember all collaborated to give a vehicle to a Gold Star Family member through the DrivenToDrive initiative. TrueCar’s DrivenToDrive initiative was started in 2016, inspired by Army Ranger and DrivenToDrive ambassador, Cory Remsburg, who was severely injured while serving in Afghanistan. According to a news release, the program is designed to honor the sacrifices made by the members who serve, and their families by supporting their mobility needs. This marks the seventh consecutive vehicle awarded through the DrivenToDrive program. The vehicle recipient was… Read More »AutoNation, TrueCar & wear blue team up for annual vehicle giveaway

CarNow adds new senior VP, partners with ShipYourCarNow

In addition to a new partnership lined up in the vehicle transportation space, CarNow, which provides digital retail solutions to the auto industry, has named a new senior vice president of OEM relations and national accounts. Hired for the role is Michael Seeman, who was previously vice president and general manager of the enterprise divisions at CDK Global, where he worked for 20 years. In his new post, Seeman will lead the development of OEM relationships along with business development efforts, including new strategic partnerships and national dealer groups. “We… Read More »CarNow adds new senior VP, partners with ShipYourCarNow