As one of its divisions celebrates its 20th anniversary of operations, KAR Global welcomed three additions to its board of directors in an effort to expand diversity and cross-industry expertise. The newest board members include Stefan Jacoby, David DiDomenico and Mary Ellen Smith. KAR Global highlighted Jacoby has more than 30 years of automotive industry […] [Read More]

EFG Companies hired two financial professionals on Tuesday for leading executive roles; individuals who possess a combined 50 years of professional experience. The provider of innovative F&I solutions for automotive dealers, finance companies and agents named Neha Parikh as chief financial officer and Ben Cantrell as vice president, treasurer and controller. As CFO, Neha Parikh […] [Read More]

In his new role as general manager of DealerFire, DealerSocket’s digital business unit, Max Steckler will lead the unit and be responsible for strategy, product direction, go-to-market execution, operations and P&L management. DealerSocket said Steckler’s SaaS technology and vertical domain expertise are in automotive retail websites, digital advertising and marketing, agency services and digital retailing. The company […] [Read More]

Auto transport technology company Ship.Cars USA says that for too long, shippers, carriers and brokers have struggled to make their operations thrive. The company adds that drivers, dispatchers and owner-operators have been “drowning in paperwork,” looking for ways to select loads online and process multi-vehicle orders. “Shippers have been searching for a viable method to […] [Read More]

Mike Darrow describes mobility as something people should not take for granted. “Driving is core to independence and a significant expression of autonomy, something we honor every day at TrueCar,” said Darrow, who is TrueCar's interim chief executive officer and president. Because of the importance of driving to independence, TrueCar is again partnering with AutoNation […] [Read More]

As expected, wholesale volume has increased from 2018 to 2019 in Canada, due in part to growth in lease returns.  But interestingly, the increase isn’t yet putting downward pressure on used prices. According to RVI, the expectation coming into this year was initially much bigger, with respect to growth in wholesale volume. “We had forecasted […] [Read More]

Trucks and SUVs are designed to carry a variety of things, from flea market finds to raw materials for countless projects. And apparently those units carried overall wholesale price movements in September, too. According to KAR Global Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, overall prices in September averaged $11,155. […] [Read More]

This past Friday, Axis Auto Finance reported financial results for its 2019 fiscal year that ended June 30 and included the full 12 months of operations the acquired entities of Cars on Credit Financial (COCF) and Trend Financial Corp. As a result, Axis posted several year-over-year gains since the comparative 2018 fiscal year included only […] [Read More]

A member of the inaugural Emerging 8 is continuing to roll out new solutions. PointPredictive recently launched what it called Outsourced Fraud Mitigation, a service that can help finance companies bolster their fraud defenses by leveraging PointPredictive’s fraud experts and artificial intelligence technology. The company explained this service can give finance companies turnkey access to […] [Read More]

The service and parts piece of the franchised auto-dealer business, along with other high-margin segments like used cars and F&I, is driving profitability for these stores. And that is helping push optimism among both dealers and investors in the future value of franchised dealerships. That’s according to Kerrigan Advisors, a sell-side adviser to dealers that […] [Read More]