For Manheim, 2020 began as an anniversary year, its 75th. And, of course, it still is. But for the auction company and wholesale auto industry at large, it has evolved into a milestone year in and of itself. What started as a year to commemorate a landmark from the past will arguably be looked upon […] [Read More]

Adapting to the situation presented by the coronavirus pandemic is on full display within the independent auction world. Russ Smith is owner and general manager of Dealers Auto Auction of Idaho, which recently joined ServNet Auctions. Smith felt the stress of when business life in just about every way came to an abrupt stop in […] [Read More]

The impact of COVID-19 on the electric vehicle market is more like a yellow light than a red light, according to a new whitepaper from Cox Automotive Mobility. Or as the analysis puts it, the hit to EVs will  be, “more of a stallout than a vanishing act.” The company released a whitepaper Monday titled […] [Read More]

Online reputation services provider Friendemic has integrated CARFAX reviews into its Reputation Accelerator product, and Friendemic says that with 19 million consumers visiting the CARFAX site monthly, the integration will “help bring a new level of awareness and engagement to dealership management.” Friendemic provides online reputation services built specifically for the needs of the automotive […] [Read More]

Like it has with so many other industries, the COVID-19 pandemic has caused a major shift at auto auctions over the last seven months. Whether that’s putting a greater emphasis on digital sales and not running cars through the lanes — as has been the case with the industry’s two largest corporate auction houses, Manheim […] [Read More]

Eighty-two percent of dealers said they would rely heavily on social media advertising such as Facebook and Instagram for the rest of this year, according to a new survey from PureCars. Sixty-two percent said they would use direct marketing channels, and 61% would use SEO/search marketing efforts to reach customers. The PureCars survey found that dealers’ […] [Read More]

Chris May says the average dealer loses about $500,000 a year because of turnover. “The cost to recruit, onboard and train a new hire while there is an empty seat on the sales floor adds up fast,” said May, who is director of the Performance Development Center at JM&A Group. To help alleviate the problem, JM&A […] [Read More]

The Canadian auto industry, be it retail, remarketing or finance, is full of young men and women who have achieved massive success at an early age. And for the sixth consecutive year, Auto Remarketing Canada is excited to honor many of those individuals in “Remarketing’s Under 40,” which is presented by EBlock. The full list […] [Read More]

This summer, DigniFi gained nearly $300 million in resources to boost its vehicle-repair financing platform and landed a relationship Cox Automotive to launch FlexPay, an easy-to-use payment option offered directly through the Xtime platform. On Thursday, DigniFi’s momentum continued with an endorsement from Volkswagen of America as a preferred vendor in its eConnect Flexible Payment […] [Read More]

This week, Consumer Financial Protection Bureau director Kathleen Kraninger announced the appointment of members to the Consumer Advisory Board (CAB), Community Bank Advisory Council (CBAC), Credit Union Advisory Council (CUAC) and Academic Research Council (ARC). Officials said these experts advise bureau leadership on a broad range of consumer financial issues and emerging market trends. Last […] [Read More]