Vehicle marketplace IAA says the expansion of its McAllen, Texas, branch doubles the branch’s capacity, in part to further manage potential volume that comes from catastrophic weather events in the area. IAA and Copart announced expansions on Tuesday, as Copart said its addition of 35 acres to its existing Memphis, Tenn., 46-acre facility provides the company […] [Read More]

Bruce Thompson was part of a team in 2001 that says it introduced inventory management tools with American Auto Exchange that year, followed by several other inventory-focused companies. On Tuesday, a Thompson-led team launched CarOffer, which it describes as the retail automotive industry’s first instant wholesale vehicle trade platform. CarOffer said its platform addresses challenges […] [Read More]

In the latest installment of the annual Power 300 issue of Auto Remarketing, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features.  Next up is Lisa Scott, president of PAR North America.  Auto Remarketing: What are some of the top challenges/needs right now that […] [Read More]

In the latest installment of the annual Power 300 issue of Auto Remarketing, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features.  Next up is Mark Endras, chief technology officer and co-founder of TradeRev. Auto Remarketing: TradeRev brought artificial intelligence to its platform via […] [Read More]

With this past week marking roughly about a third of summertime unofficially remaining, the juncture also represented a span when values for both cars and trucks softened at greater rates than earlier in the season, according to the newest Black Book Market Insights report. Based on volume-weighted information, analysts discovered overall car segment values decreased […] [Read More]

One of the most important parts of the entire auto-finance process is collecting payments. And the Federal Reserve is looking to help with that crucial process. The Federal Reserve Board on Monday announced that the Federal Reserve Banks will develop a new round-the-clock real-time payment and settlement service, called the FedNow Service, to support faster […] [Read More]

As an evaluation firm articulated the top seven steps to follow within a software development life cycle, a provider of cloud-based software solutions for all financial institutions announced the results of its latest survey focused on the need for artificial intelligence (AI) in auto financing. Inovatec Systems Corp. released its study findings this week that […] [Read More]

Following the initial workshops nine months ago, White Clarke Group recently delivered its CALMS wholesale finance solution to V12 Vehicle Finance, the automotive financial services arm of Secure Trust Bank, an established, well‐funded and capitalized retail bank in the U.K. White Clarke Group highlighted the solution deployment is designed to give V12 Vehicle Finance greater […] [Read More]

While mandated implementation might be delayed, Experian and Oliver Wyman are still looking to help auto finance companies meet the initial set of deadlines for the Financial Accounting Standards Board’s current expected credit loss (CECL) model via a new solution and webinar. According to a news release distributed on Wednesday, Experian and Oliver Wyman have […] [Read More]

Cars.com will continue as an independent public company. The company said Monday that its board of directors has wrapped up its strategic review process, which lasted 10 months and included 29 prospective bidders. But ultimately, there were “no actionable bids” for Cars.com. Cars.com board chairman Scott Forbes said in a news release: “The board is fully […] [Read More]