Used vehicle e-commerce platform Carvana has unveiled its latest car vending machine, this time in Miami. The company’s Miami car vending machine is the fourth Carvana car vending machine location in Florida. It’s Carvana’s 24th U.S. car vending machine. It stands eight stories high and holds 27 vehicles, offering car buyers what Carvana describes as […] [Read More]

Location Services made four changes to its senior management team on Tuesday, triggered by the retirement of chief executive officer Lee McCarty after 35 years in the auto-finance industry.  The provider of recovery-management and loss-mitigation services announced that effective immediately its new CEO will be Jerry Kroshus, who previously served the company as chief client relations […] [Read More]

Safe-Guard Products International, a provider of third-party private label protection products for the automotive, RV, marine and powersports industries, announced an investment in the company by funds managed by Stone Point Capital. According to a news released distributed this week, Safe-Guard noted that affiliates of the Goldman Sachs Group — which first invested in Safe-Guard […] [Read More]

PointPredictive landed another high-profile client this week; this time an institution that’s considered to be the nation’s second-largest federal credit union. The San Diego-based company and Emerging 8 honoree that builds artificial and natural intelligence (Ai+Ni) models using machine learning announced that PenFed Credit Union will use PointPredictive’s full suite of auto-finance fraud prevention solutions. […] [Read More]

Bryan Geist of masterQueue was one of several repossession industry experts who gave presentations during the 2019 Innovations in Recovery Summit hosted by Resolvion last fall in Dallas. Geist began his presentation recollecting tactics some collections agents might have used in the past, pretending to be just about anyone by a company representative in hopes […] [Read More]

Cutting sedans from the lineup could put automakers at risk of losing “sedan loyalists,” but the pre-owned market is one potential way to keep those buyers in the fold. Among a deep set of data in the second annual CarGurus Sedan Survey was this nugget: Almost a third (32%) of current sedan owners who want […] [Read More]

Perhaps you, too, finished 2019 a bit tired; the culmination of a year filled with automotive activities that left you feeling fatigued. Well, KAR Global chief economist Tom Kontos explained how the wholesale market might have sustained “fatigue” by the time this past year ended, as well. According to KAR Global Analytical Services’ monthly analysis […] [Read More]

Missouri Auto Auction has added a second generation of ownership with the announcement that Cody Boswell and Candice Boswell-Bray are now a part of the ownership team. Boswell and Boswell-Bray are the son and daughter of Gregg and Dagmar Boswell. Gregg Boswell founded Missouri Auto Auction in 2000. Gregg Boswell founded the auction while maintaining ownership […] [Read More]

ReconVelocity says one of its two new automation features, called VelocityLocate, brings complete efficiency to the recon process by automating vehicles’ step-by-step progress in recon. And it does that even when dealership personnel forget to push the button. ReconVelocity says that for dealers, the two new automation features in its reconditioning software product “catapult the […] [Read More]

Certification platform SureSale has added five members to its national sales team, and the company says each of them have a track record of growing new markets. The new sales team members also possess “a deep understanding of what auto dealerships need to fuel CPO sales and increase ROI,” SureSale said in a news release. […] [Read More]