ACV Auctions said it has secured $150 million in Series E funding, noting that the new capital will go toward ACV Auctions’ investment in technology and data-driven products that it says will help dealerships source and sell used vehicles. Wellington Management Company and Fidelity Management & Research Co. led the investment in ACV Auctions, a […] [Read More]

When Mindy Holman joined family-owned Holman Enterprises in 1986, she followed in the footsteps of her grandfather Steward and father Joseph, who currently serves as Holman Enterprises’ chairman emeritus. Today, Mindy Holman is Holman Enterprises’ chairman of the board. On Nov. 6, fleet services provider ARI, which is a subsidiary of Holman Enterprises, announced that the […] [Read More]

Autodata Solutions president Craig Jennings says obtaining timely and accurate rates, residuals, rebates and incentives “continues to be a challenge for partners across the industry. “Dealers need to be able to accurately market, price and desk their vehicles both in-store and online,” Jennings said in a news release. With that in mind, vehicle data provider […] [Read More]

Veteran paratrooper and Army Sgt. First Class Centra “Ce-Ce” Mazyck’s military career took a turn for the worst when she became paralyzed from the waist down after a crash landing during a parachute jump. Doctors told her she would never walk again, but Mazyck was determined and can now walk with the help of forearm […] [Read More]

A new National Independent Automobile Dealers Association member benefit program helps participating association members incorporate their independent dealerships. The new program is titled, NIADA Business Incorporations. On behalf of association members who participate in the new program, NIADA, in partnership with Deluxe Corporation, will handle 100% of the filing, updates and paperwork. Incorporation is one […] [Read More]

ALG chief industry analyst Eric Lyman describes certified pre-owned vehicles as a “key contributor to franchise dealer profitability,” and “an indispensable tool for automakers to manage off-lease volume.” With that in mind, ALG announced the winners of the 2020 Pre-Owned Value Awards, which Lyman says help consumers “zero in on desirable late-model used vehicles that […] [Read More]

American Recovery Association executive director Les McCook has proven to be quite prophetic stemming from a comment he made during the Innovations in Recovery Summit hosted by ALS Resolvion in late September. McCook said, “In the next 24 months, there will be significant changes in the industry.” Turns out, McCook’s assertion not only came to […] [Read More]

Cherokee Media Group (CMG) is a competitive outfit. It’s part of the reason why its parent company has been in operation since 1982, navigating through all of the highs and lows of the automotive business cycle fueled by priceless knowledge. CMG wants all segments of the used-car industry to thrive, too, so the company is […] [Read More]

Skip Dowd, who led the launch of AutoMart.com in 2004 before it was acquired and integrated into AutoTrader.com in 2009, has joined Xcite Automotive as chief sales officer. Dowd, whose 28 years of automotive industry experience includes roles involved with driving revenue, profitability, and performance, also previously served for eight years as executive vice president […] [Read More]

Certified wholesale vehicles sell faster and at rates 4 to 8% higher than their uncertified counterparts, according to a recent white paper from Manheim Consulting. The paper, titled, “Certification Impact on Low Grade & High Mileage Units,” also showed that certification can mean one-third fewer arbitrations. According to the white paper, the benefits and returns of […] [Read More]