Sales of vehicles up to 8 years old were steady at auctions the week ending Aug. 16 and continued to be softer than pre-virus forecasts, according to a Used Market Update from J.D. Power. But certain segments, particularly on the mainstream side of the market, are seeing auction sales climb. Overall, there were 95,000 auction […] [Read More]

Last week, the Federal Trade Commission announced it issued an administrative complaint against a marketer pushing a program involving dealership and potential pandemic stimulus benefits. And this week over at the Consumer Financial Protection Bureau, officials said they will provide an additional 60 days for public comment on its request for information on how best […] [Read More]

The live sessions of the all-digital Auto Intel Summit resume Monday with two midday general sessions.   The first is the “Auto Industry Venture Capital Fireside Chat — Exploring the 2020 Environment” session, which will be moderated by Spiffy co-founder and CEO Scot Wingo. It includes the following panelists from the investment community: — Jason Caplain, Co-Founder and […] [Read More]

As they say, there’s an app for that. On Wednesday, Auto Auction Services Corp. (AutoIMS) announced a new mobile application for its members. The company highlighted the AutoIMS app was designed to offer users the most vital data and features of its inventory management system in the palms of their hands. Provided to users at […] [Read More]

In addition to announcing that it would be shuttering its AutoNation Collision Parts business by year’s end, AutoNation also shared some news from its pre-owned operations on Wednesday. The retailer appointed a president for AutoNation USA chain of standalone used-car stores, moving current Western Region president Steve Kwak to that position. The company is making […] [Read More]

This week, Byrider’s Warren Lenard was named a Chief Technology Officer of the Year honoree through a program orchestrated by the Indianapolis Business Journal and Techpoint. The chief technology officer for the network of buy-here, pay-here dealerships was one of 37 honorees, recognizing the technological strides Byrider is making under Lenard’s leadership. “We are thrilled […] [Read More]

Coinciding with its appearance this week during the Texas Independent Auto Dealer Association’s 2020 Virtual Conference & Expo, Agora Data announced an integration with Advanced Business Computers of America (ABCoA) Deal Pack and its dealer management software solutions. Agora Data chief executive officer Steve Burke highlighted the addition of Deal Pack expands Agora’s integrated DMS […] [Read More]

TransUnion updated the industry on multiple fronts on Thursday, giving the latest reading not only on delinquencies but also the total percentage of accounts in “financial hardship.” As auto-finance 60-day delinquencies made a notable upturn during the second quarter — especially among finance companies that might have subprime paper in their portfolio — TransUnion reported […] [Read More]

Dealerships in British Columbia that retail electric vehicles can enhance their pitch to potential buyers by mentioning the latest government investment to boost nearby infrastructure specific for those units. This week, Canada’s Minister of Natural Resources Seamus O’Regan announced a $380,000 investment to help the Corporation District of the Summerland build 22 electric vehicle (EV) […] [Read More]

On Wednesday, the Federal Open Market Committee (FOMC) at the Federal Reserve released minutes from its July policy meeting that indicated: “Participants agreed that the path of the economy would depend on the course of the virus, which was seen as highly uncertain.” According to just-released data from consumer intelligence firm Resonate, a leading provider […] [Read More]