Free access to lead engagement technology available

SAN FRANCISCO –  Pulsar AI is a conversion automation tool that allows car dealerships to automate lead engagement by autonomously contacting, engaging, qualifying and following up with any lead “via natural, automated two-way conversations.” In a news release, the company said that in response to challenges auto dealers are facing because of the coronavirus pandemic, it is offering its product to any U.S. dealer free of charge until June 30. The company seeks to help dealers who spend a great deal of time answering e-mails and texts from potential customers. Pulsar… Read More »Free access to lead engagement technology available

PODCAST: Digital wholesale accelerates amid COVID-19

Tuesday, Apr. 07, 2020, 03:06 PM CARY, N.C.  –  The wholesale car business was already moving closer to a more digital environment. COVID-19 appears to have accelerated that shift. Doug Hadden of ACV Auctions joins the podcast to talk about that transition and how ACV is handling the physical tasks of digital wholesale amid COVID-19 (like inspections), plus success stories and more. To listen to this episode, 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

Insight about plunge in vehicle miles traveled

BETHESDA, Md. –  With millions of Americans working from home due to office and school closures, the Auto Care Association acknowledged many dealerships and other industry participants are wondering about vehicle miles traveled (VMT) statistics. The association explained VMT statistics are correlated with the health of the entire automotive industry — the more miles driven, the more that maintenance, repair and replacement of vehicles will be required.  With those thoughts in mind, the association tapped the information collected by transportation data provider INRIX reports that compared overall daily national traffic volume… Read More »Insight about plunge in vehicle miles traveled

CPO sales down over 40% in March, 9% for Q1

CARY, N.C. –  In a report from Friday, J.D. Power Valuation Services indicated that franchised dealers saw close to a 40% week-over-over decline in retail used-vehicle sales the final full week of March. Meanwhile, Cox Automotive estimated that total used-vehicle sales for the month fell 18.4% from March 2019. And similar to what has happened in the overall used-car market (and in new cars, for that matter), certified pre-owned sales had a rough March amid the COVID-19 pandemic. According to Cox Automotive data shared with Auto Remarketing, there was a 40.4% year-over-year decline… Read More »CPO sales down over 40% in March, 9% for Q1

Dealers provide customers with mortgage relief, fun

SILVER SPRING, Md. & GRAND RAPIDS, Mich. –  Alex Perdikis of auto dealer Koons of Silver Spring says his company realizes that as the COVID-19 crisis continues, “these are the most challenging times we may ever experience in our lifetime.” Because of that, his company is offering pay the rent, lease or mortgage payment for the next two months, up to $1,500 a month, for members of the public or businesses purchasing a new Ford, Lincoln, or Mazda from Koons during the month of April. The program is in addition to Koons’… Read More »Dealers provide customers with mortgage relief, fun

Cordray suggests 16 actions CFPB should take, including moratorium on repossessions

CARY, N.C. –  Richard Cordray, the first director of the Consumer Financial Protection Bureau, posted what he called a white paper containing 16 points of action the CFPB should take during the COVID-19 crisis. In one of those specific points, Cordray directly addressed repossessions in the composition that resembled a letter or email message to current CPFB director Kathleen Kraninger with courtesy copies specified for the chair and ranking members of the U.S. House Financial Services Committee as well as the U.S. Senate Banking Committee. When he arrived at point No.… Read More »Cordray suggests 16 actions CFPB should take, including moratorium on repossessions

Details about free access to AgoraInsights

ARLINGTON, Texas –  Agora Data is trying to give buy-here, pay-here dealers every tool necessary to navigate through these challenging times. On Monday, the firm released its newest BHPH dealer focused feature — AgoraInsights — which is designed to provide contract originators with what Agora Data contends is an “unprecedented and accurate” look into the value of their portfolios. “Dealers will finally have easy access to technology that will assist them in making better lending decisions and increase the value of their portfolios,” Agora Data chief executive officer Steve Burke said… Read More »Details about free access to AgoraInsights

PODCAST: How car dealers can master digital retail

Monday, Apr. 06, 2020, 04:56 PM CARY, N.C. –  Amid the COVID-19 pandemic, the vehicle showroom has become a virtual one. And car dealers, like many other businesses, are having to shift their business to a mostly digital one. With that in mind, Cox Automotive’s Mo Zahabi joins the show to discuss his Digital Retailing Best Practices webinar and how dealers can adjust to these changes and thrive in the online retail environment. To listen to this episode, click on the link available below, or visit the Auto Remarketing Podcast page.  Download… Read More »PODCAST: How car dealers can master digital retail

DC dealers give $50K to MedStar Georgetown to support COVID-19 treatment

WASHINGTON, D.C. –  Franchised dealerships in the nation’s capital are answering the call to help healthcare workers with patients who have the coronavirus. On Monday, the Washington Area New Automobile Dealers Association (WANADA), also producers of The Washington Auto Show, made a $50,000 donation to MedStar Georgetown University Hospital, to help support its work screening and treating patients during the COVID-19 pandemic. As the COVID-19 crisis continues to spread across the world, WANADA acknowledged hospitals are being stretched to the limits, while doctors, nurses, and support staff members are putting themselves… Read More »DC dealers give $50K to MedStar Georgetown to support COVID-19 treatment

New Carvana customers can delay payments up to 90 days

Monday, Apr. 06, 2020, 04:14 PM PHOENIX –  Carvana’s rush of recent activities continued on Monday with the online used-vehicle retailer making a move to help buyers who just took delivery. The company announced on Monday that it is now giving customers up to 90 days to make their first payment. Customers financing with Carvana are eligible to opt in to the payment extension option, as long as they complete their purchase by April 20. “Carvana has always been a company intensely focused on doing the right thing for our customers,… Read More »New Carvana customers can delay payments up to 90 days