Reynolds and Reynolds announced late on Thursday that president Ron Lamb has stepped down, effective immediately.
The dealership management system provider said Lamb plans to pursue opportunities in private equity and that the position will not be immediately filled.
In making the announcement, Reynolds chairman and chief executive officer Bob Brockman said, “Ron has made a significant contribution to Reynolds over the years. He’s a talented executive, and we wish him well in his future endeavors.”
Reynolds recapped that Lamb was named to the position in 2010 and had been with the company for 25 years.
“Reynolds ended 2016 as one of its strongest years in the past decade and that momentum has carried over into this year,” Brockman said.
“With the strength of our product portfolio and the depth of talented bench strength in our executive ranks, we are looking forward to the opportunities ahead and to our continued growth,” he added.
The executive development arrived a little more than a month after Reynolds and Reynolds Canada and BMW Group Canada announced a new, multi-year agreement between the two companies for Reynolds to provide its dealership management system — ERA-IGNITE — to all BMW and MINI retailers in Canada.
Auction technology provider Xcira recently announced that the U.S. Patent and Trademark Office issued the company a new patent that addresses a bidder actively participating in or monitoring multiple simultaneous auction events.
The new patent is the company's 12th that is devoted to inventions relating to online bidding, inspection systems, real-time audio and video distribution, and remote consignor representation.
Xcira said it also has other utility patent applications pending it expects will be issued soon.
Last year, the company’s auction software was used by customers in seven different auction segments and 23 countries.
Highlights of the year include a total of 37,650 auction events, 15.5 million online bids, and 6.3 million items offered for sale to online buyers, representing more than $23.3 billion, according to Xcira.
Additionally, the company awarded an estimated 1 million items to online bidders, a value of more than $5.2 billion.
“Xcira presents a very unique blend of innovation coupled with enterprise-level reliability, performance and scalability," chief executive officer Nancy Rabenold said in a news release. “The Xcira team works hard to deliver quality economies-of-scale by providing state-of-the-art, affordable services to auction segments around the world.”
Since Xcira’s inception in 1996, 36.7 million items have been offered for sale to online buyers, a value of more than $250 billion.
Manheim called it a “good year” for its digital channels after the company reviewed its 2016 performance and found that the average year-over-year growth in each of its Digital Marketplace categories came in at 15 percent or more.
Officials said OVE (Manheim’s online wholesale marketplace) reached an all-time 2.5 million vehicle sold since it was launched in 2006, and, in 2016, OVE showed a record 378,000 vehicles sold.
Manheim mentioned other highlights include a record number of average monthly digital users, total bids, online and mobile site visits as well as total digital transactions. Here are the specifics:
• Record sales on OVE: There were a record 378,000 vehicles sold via OVE this past year, bringing the total number of sales to 2.5 million since the online wholesale marketplace launched in 2011.
• Simulcast is selling: Auction attendance via Simulcast averaged 139,000 users monthly in 2016, with 50 percent of auction sale attendance participating via the online auction platform. This shows a significant increase in active dealers who are eager to experience live sales and buy or sell remotely in real time.
• Total visits and bids are up: Online and mobile engagement continue its upward trend with an increase in total visits and bids in Manheim’s Digital Channels. There were more than 12 million total bids conducted through all of the company’s digital channels for an 18 percent year-over-year increase compared to 2015. More than 75 million total visitors visited the Manheim mobile site and apps, representing a 15 percent year-over-year increase.
“Response to the suite of digital tools we’ve created was overwhelmingly positive in 2016, which strengthens our resolve to keep delivering solutions that help dealers move their inventory effectively and efficiently,” said Derek Hansen, Manheim’s vice president of digital solutions.
“Seeing a 22-percent year-over-year increase in total transactions through our digital channels underscores the good work our team is doing to make the wholesale buying and selling process easier for dealers,” Hansen added.
Dealers Auto Auction of the Southwest (DAASW) recently introduced digital bidder badges that are powered through its mobile app.
The independent auction’s new innovative badges are a first in the nation concept, according to Jim DesRochers, former National Auto Auction Association president.
“We have always felt that standing in line for a paper badge or in line at a faceless kiosk was not the dealer friendly way to enter the auction,” DesRochers said in a news release.
“Our digital badges, recognizes you as you enter, assigns you a badge which you can show to our staff anywhere as you walk in and to the ring men when you buy a unit.”
DAASW developed the digital bidder badges along with Peter Levy and his company, IAS, according to DesRochers.
Additionally, for added access, the digital badges can be opened in Apple and Google wallet.
The DAASW app is available for Apple and Android devices.
Dominion Dealer Solutions announced that it has improved its new-car incentives application and newly partnered with AIS Rebates, a part of Cox Automotive, to deliver incentive data instantly to dealers nationwide.
“Managing the application of pertinent incentives to new car inventory has been a longstanding pain-point for dealers across the country,” Dominion general manager of inventory solutions Shane Marcum said in a news release.
“In forming this strategic partnership with AIS Rebates, Dominion Dealer Solutions resolves this issue for dealers by making incentive data available within our applications, delivering it in an easily accessible interface, and providing an intuitive way for users to quickly apply those incentives to their new-car inventory.”
Dominion Inventory Manager will now have 90 percent to 95 percent incentive availability for new vehicles because of the merger, according to Dominion.
The software offers a streamlined process for dealers to both identify and apply new car incentives to their new vehicle inventory.
Through Dominion’s new-car incentives, dealers can now price inventory based on market analytics as well as incentive availability which Dominion suggests makes pricing more accurate.
Dominion said the improved process offers dealers more efficiency in locating incentives and applying them automatically to any matching inventory.
“Cox Automotive is committed to transforming the automotive retail experience by providing transparent pricing information wherever online consumers choose to shop,” said Brad Korner, general manager for Cox Automotive Rates & Incentives.
“We are pleased to provide our AIS Rebates incentive information to Dominion Dealer Solutions to deliver the most current incentives for dealers to instantly apply to their inventory, simplifying the sales process and increasing customer satisfaction.”
On Monday, Cars.com launched Price Comparison Graphs, a new set of tools which provide consumers more context around the price of a used or new vehicle.
The new pricing tools designed for its website and mobile app show how factors such as trim, mileage and certification impact the price of vehicles in a car shopper’s individual market.
"One of the top concerns for any vehicle owner or shopper is price: 'How much will this repair cost? What is a fair price for this car?' We have always been committed to bringing more transparency to automotive, and our next bet is on improving the industry's pricing decision tools so consumers can better understand why a car is priced a certain way," Joe Keehnast, principal product manager at Cars.com said in a news release.
Seventy-four percent of dealers say the Price Comparison Graphs will have a positive or neutral impact on their dealership, according to Cars.com.
"In 2015, we rolled out our fair-price estimator tool to provide more information on local service and repair costs. Now we're focused on enhancing the shopping process even further through vehicle pricing tools that keep consumers more engaged on the site, build trust between them and our dealer partners and facilitate a quicker path to purchase," Keehnast added.
Additionally, The Dealer's Circle Community, a new dealer panel was launched by Cars.com in October.
The new panel “allows the company to test ideas and ensure their consumer offerings will make a positive impact on local retailers across the country,” the company explained.
Currently, The Dealer's Circle Community has 400 members.
Cars.com said it expects the panel to reach 1,000 dealer participants by the end of the year.
The company also has a consumer panel used for testing that has an estimated 4,500 members throughout the country.
By the end of Q1, Cars.com said it plans to roll out Deeper Feature Comparison which will offer car buyers added qualifiers such as drivetrain, engine cylinders and transmission into the Price Comparison Graphs.
The International Automotive Remarketers Alliance announced on Tuesday it has updated its new website by integrating association management software designed to improve online membership management.
The software was created to manage alliance membership, improve communication within the organization, streamline online education and enhance other website functionalities, according to the alliance.
“The IARA board commissioned IARA executive director Tony Long and members of the alliance’s Technology Committee to seek an AMS solution, which it found in MemberLeap, a product by Vieth Consulting,” the IARA said in a press release.
The software now helps streamline the processes for IARA’s CAR Certification program, a remarketing certification program. Things like student enrollment, course delivery, automated deadline reminders, and proctored online testing are delivered through MemberLeap. It can also be used to monitor course progress and to print certificates and maintain records.
IARA announced it had launched its new website, IARA.biz, earlier this month.
One significant change IARA made with the website is that it now allows members to access all sections of the site with one sign-in password.
Software review company Capterra ranked MemberLeap as the No. 1 top mid-range association management software, according to the IARA.
On IARA's new website, there is also now a registration link for IARA-Northwood University's remarketing course.
AutoAlert revealed that Kansas City, Mo., will be the home of its new corporate headquarters as soon as the spring.
AutoAlert hasn’t yet announced a specific office location.
"The team loves the downtown location and the opportunity it provides,” AutoAlert chief executive officer Mike Dullea said in a news release.
“This area is rich with innovation and AutoAlert is excited to be added to the mix."
In addition to the new office, the company said it plans to add 200 positions to its workforce.
"AutoAlert is raising the bar to bring high paying tech jobs right to the heart of Kansas City and the Silicon Prairie," said Dullea.
The company said it chose the city for its revitalized and growing downtown area, access to tech talent and convenient transportation options.
"AutoAlert's announcement is great news for Kansas City and reflects our city's commitment to being a hub for cutting-edge, industry-leading businesses,” said Kansas City Mayor Sly James.
“We look forward to AutoAlert's continued success and I am thrilled to have them join our community."
Along with the Kansas City headquarters, AutoAlert will maintain offices in Irvine, Calif.; Boston and Manchester U.K.
On Tuesday, key storage and management solutions provider KEYper Systems announced that it has recently launched KEYper GO, a mobile key management app that pairs with its electronic key management system.
KEYper GO allows key management system users to check out and reserve keys, check the status of keys in real-time and notify co-workers when they have the key you need.
The new mobile app is now available for download with the KEYper electronic key management system.
"We are excited to bring yet another innovative solution to the KEYper line of products,” said KEYper Systems president and chief executive officer Ric Stone in a new release.
“Customers have been requesting this feature for a long time, and we are excited to deliver this application. Integrating a mobile solution felt like the perfect way to take our industry-leading key management systems to the next level.”
The company's key management system and products are designed to help dealers organize and track the keys to vehicles on their lots.
Pearl Technology Holdings announced Wednesday that it integrated its ShowroomXpress platform with RouteOne to offer consumers a streamlined online and in-store retail experience.
ShowroomXpress now gives dealers the tools to contract customers on mobile devices and websites through RouteOne’s online credit application and eContracting platform.
The newly integrated technologies allow consumers to complete a purchase online, or in the showroom and faster than traditional retail time.
“The integration with RouteOne is a critical final step in creating a complete express retail platform. ShowroomXpress will first pencil both purchase and lease transactions to the dollar without a SSN on mobile devices or desktop,” Pearl chief executive officer and founder Bruce Thompson said in a news release.
“Once the customer agrees to the terms, we pass the deal structure to RouteOne behind the scenes. The customer can then complete the credit application and RouteOne will electronically obtain the finance source’s decision. Dealership personnel login to their RouteOne account and verify the terms and the transaction is ready for signatures.”
ShowroomXpress incorporates Experian Pre-qualification technology which provides customers pre-qualification without a hard inquiry or SSN.
For both purchase and lease transactions, dealers select the finance sources they utilize and the top three finance source quotes are shown to the consumer.
Additionally, dealerships’ team members can instantly adjust terms and roll payments via ShowroomXpress.
The platform is designed for both one-price and negotiation stores.
“We’re very excited to be able to provide our technology to Pearl for its ShowroomXpress product,” said RouteOne chief operating officer Brad Rogers.
“It continues to build upon our philosophy of streamlining the vehicle buying process and allowing the dealers to select their systems and services of choice. By integrating RouteOne’s online credit application and eContracting capabilities with ShowroomXpress, Pearl has created a true express retail solution that has potential to change the way dealers and consumer think about automotive retailing.”
RouteOne connects dealers across North America to finance sources for vehicle financing.
In 2002, the company was formed by Ally Financial, Ford Credit, TD Auto Finance and Toyota Financial Services.
