While wholesale prices were below year-ago levels for cars, they were up for trucks. The revelation prompts KAR Auction Services' chief economist to revisit a study he began during the industry's first experience with $4 gas back in 2008, when the price gap between trucks and cars closed dramatically.
Promising a ‘transparent and real-time’ tool, TrueCar Trade will launch as a six-month pilot program in partnership with R. Hollenshead Auto Sales and Galves Market Data.
KAR Auction Services will acquire the company that operates as DRIVN for $43 million. The company was founded in 2015 as CarCo Technologies by Groupon cofounders Brad Keywell and Eric Lefkofsky.
Compared with 2016, 11% more Gen Z consumers and 9% more Pre-Boomers say they “definitely would not” trust automated technology, according to the firm’s 2017 U.S. Tech Choice Study.
High demand for pre-owned vehicles resulted in increased values, with 13 out of the 22 vehicle segments registering increases in average value, the firm reported.
The new, dual-branded, 35,000-square-foot dealership in Freeport, N.Y., is among the first in the U.S. to adopt the company’s new global ARCH retail standards.
Uber today launched a new business program dealers can use to order rides for service customers. The new offering is the ride-hailing firm’s first one-to-many ride product.
The 1.6% rebound from February’s unexpected 1.4% drop wasn’t quite as big as the firm anticipated, but the lift was in line with the period’s 2.3% average over the previous three years.
Cox Automotive has named Realtor.com’s Jonathan Smoke as chief economist and created an economic industry insights office.
A new report finds dealerships put other businesses to shame when it comes to lead follow-up, but there is room for improvement.
Since registering a score of 125.9 in May 2015, the firm’s Used Vehicle Retention Index has fallen steadily. Last year, it dropped by 6.4%. In March, the index fell from February's 113.9 to 113.
The results of a survey of 400 dealers at the NADA convention indicate many dealers are overestimating customer trust, their sales team’s product knowledge, and the need to offer discounts.
The automaker has appointed Cian O'Brien to head sales in the United States as executive vice president and COO.
The startup added a title concierge service to help dealers secure titles on vehicles purchased through its automotive exchange. The firm also added an account lookup feature so users can track all money movement between sellers and buyers.
The market research firm found that older customers prize complimentary snacks and beverages as well as newspapers and magazines, while members of Generation X and Y want wireless internet access.
