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Hey everyone,
In this week’s Market Pulse, we looked at the recent Dealer Sentiment survey and highlighted how some dealers are overcoming challenges in the market.
Check it out here.
— CDG
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Welcome to The Weekly, a roundup of the top five auto industry headlines of the week.
TrueCar CEO talks strategy behind native smartphone app: 'I believe that search is dead
TrueCar recorded another profitable quarter since going private in January, added two more credit union partners, and is preparing to shift how it reaches customers.
Driving the news: The financial news, continued business drive, and a stated commitment to full FTC compliance each played into the company's turnaround, according to a release.
TrueCar added State Employees' Credit Union (SECU), saying it’s the second-largest credit union in the U.S. with more than $60 billion in assets, and Affinity Federal Credit Union, which has $4.35 billion in assets, it said, as partners, bringing its total credit union network to more than 80. Members using TrueCar's auto-buying program save up to about 9% off MSRP, depending on the vehicle and incentives. Also, credit union-referred customers convert at about 20%, compared to a 2-3% industry average for typical leads, the company said.
Scott Pharr buys Nissan store, navigates tornado hours later
Scott Pharr closed on his first dealership on Aug. 10, just hours before a tornado slammed into Chesterton, Indiana.
It was far from the start he envisioned after a long journey to owning his own dealership, Pharr Nissan of Chesterton.
“I think this is just another challenge from God. I mean, he made me wait 28 and a half years,” Pharr told Daily Dealer Live host Sam D’Arc. “I think, you know, what’s another month.”
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2026 models total 85% of new-vehicle inventory through end of August
Through the end of August, model-year 2026 vehicles are still filling dealers’ lots, with 85% of new inventory from this year.
Driving the news: The analysis of inventory through the end of August showed that the current-year mix is the highest since 2020’s 87%.
Last year in August, the 2025s made up only 71.8% of inventory. Just 12% of the current new inventory is from model year 2027 and 2.1% from 2025.
New, used demand ticks up as buyers chase affordable inventory
Used vehicle demand remains elevated, with growing demand for the youngest and oldest models, while new vehicle demand ticked up slightly but remains off 2025’s pace, according to CarGurus’ August Intelligence Report.
Though cooling from a three-year peak in the spring, demand in the used market continued to rise for a second straight month in August, even though there was no change in the average price for the last two months, staying at $30,200.
Demand grew year over year for all models three years old and under and for models 11 years and older. Additionally, demand softened for vehicles between four and 10 years.
Copart agrees to acquire ACV Auctions in $1.9 billion deal
Copart has agreed to acquire ACV Auctions for about $1.9 billion in cash, the companies announced Thursday (Sept. 10).
The deal connects ACV's online used-vehicle marketplace with Copart's network of physical auction yards.
ACV will operate as an independent subsidiary "led by ACV's existing leadership team," the companies said. The deal, unanimously approved by both boards, is expected to close by year's end, subject to regulatory approval.
