Especially now during the coronavirus pandemic, operators need other ways of reaching their customers other than a face-to-face conversation. Textmaxx Pro, a national text message communication platform with special expertise in the automotive retail marketplace and part of the Leedom Group, recently entered a new partnership with the National Independent Automobile Dealers Association’s National Member […] [Read More]

Delinquency rates on auto financing declined during the first quarter, according to Experian’s latest State of the Automotive Finance Market Report. But Experian experts acknowledged the metrics might be ripe for change as the automotive industry grapples with the impact of COVID-19 and financial hardship felt by consumers. What might be most noteworthy for finance […] [Read More]

Canadian auto auction ESP Auction and its president Alain Boisvert, along with former ADESA president and chief executive officer Stephane St-Hilaire, have acquired a majority stake in auction platform, TradeHelper. ESP Auction is a physical wholesale auto auction in Montreal. TradeHelper is an online dealer-to-dealer auto auction platform in Eastern Canada. The two plan to […] [Read More]

PowerBand Solutions continued its recent stretch of development activity on Monday by announcing it’s accepting an additional $2.7 million investment from Texas-based D&P Holdings as it prepares vehicle lease originations in the United States to begin this month. PowerBand chief executive officer Kelly Jennings said the company has completed its mission that’s taken more than […] [Read More]

On Tuesday, Digital Matrix Systems (DMS) enhanced its suite of solutions to assist finance companies to navigate through new mandates federal officials have put in place in response to COVID-19. The company announced the availability of a new subset of its DMS Summary Attributes that have been tailored to help finance companies and other lenders […] [Read More]

Both Black Book and Cox Automotive released their monthly wholesale indices for May in recent days, each remarking how some stabilization arrived in the space when compared to the COVID-19 induced turbulence seen in April. Cox Automotive reported wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 8.96% month-over-month in May; a […] [Read More]

Autotrader on Monday announced its latest national advertising campaign, showing shoppers how easy car buying can be in the new normal in which consumers have adjusted to managing aspects of life from home. For the campaign, titled “Dealer Chats,” the commercial brings the dealership showroom experience to a shopper’s home. It includes scenes of buyers […] [Read More]

Manheim is allowing consignor representatives back on the auction block this week to rep their vehicles during sales, which remain in Simulcast-only mode. The auction company is also looking at ways to safely bring bidders back to the auction arena and could be piloting those plans at locations towards the end of June. These updates […] [Read More]

The Reynolds and Reynolds Co., which provides automobile dealership software, services, and forms to dealerships, has promoted Tommy Barras to president and chief operations officer. Barras will report directly to Reynolds chairman and chief executive officer Bob Brockman, and the promotion is effective immediately. Brockman noted Barras’ more than 40 years in the industry and […] [Read More]

Warren Byrd not only is departing his executive role with KAR Global; the wholesale industry veteran also is giving up his leadership position with the National Auto Auction Association. On Monday, NAAA announced that Byrd has decided to step down from the association’s board of directors after more than a decade of service on the […] [Read More]