CarMax’s new interim CEO says the used car retailer will reduce its margins to lower prices and spend more money on advertising geared toward private-party sellers. +
Record numbers of new and used vehicle buyers committed to a monthly payment of $1,000 or more in the fourth quarter, but interest rates ticked down for both groups. +
DealNow’s Brad Parker urges dealers to focus on private party and service lane acquisition as traditionally reliable channels grow increasingly competitive. +
Experian Automotive’s Q3 auto finance report finds EVs were leased at a significantly higher rate than a year ago, setting the stage for a future disruption to the used car market. +
Cox Automotive’s Q4 Automotive Dealer Sentiment Index finds dwindling optimism among retailers as escalating costs, prices and uncertainty affect profits and consumer confidence. +
CDK analysts report U.S. dealers earned a 66% “Easy to Purchase” score last month, down from 85% in October and the single lowest score in the survey’s history. +
Hudson Automotive Group has acquired all 15 Baton Rouge, La.-area All Star Automotive dealerships, which collectively account for 17% of the market’s new vehicle sales. +
Protective’s Rick Kurtz urges dealers and agents to maximize F&I product sales by treating every presentation as an opportunity to help customers manage affordability and mitigate risk. +
A new Cars.com survey of U.S. car shoppers finds 44% are already using AI-powered search tools built into online marketplaces and 97% believe AI will affect their vehicle selection. +
Ford dealers in select cities have a new marketplace for certified pre-owned units: Amazon Autos, where shoppers can secure financing, start their paperwork and schedule a dealership visit. +
