According to a news release distributed on Thursday, CARFAX filed a complaint this month as a first step toward stopping businesses from illegally accessing its data. The suit was filed against Patrick K. Willis Company Inc., doing business as American Recovery Service (ARS). CARFAX said ARS is one of several companies that the vehicle history report […] [Read More]

Late on Thursday, CarMax announced the next segment of its long-term planning process; this time involving its chief financial officer transition. The company said in a news release that Enrique Mayor-Mora, who has served as CarMax’s treasurer since 2016, will be promoted to senior vice president and CFO. Meanwhile, Tom Reedy, who has served as […] [Read More]

Toyota Motor Credit Corp. (TMCC) said it made a complex financing move that the captive said was “demonstrating the company’s commitment to innovation and advancing its reputation as an industry leader.” On Thursday, TMCC announced that it issued its first secured overnight financing rate (SOFR) medium-term note (MTN) transaction. The company indicated the one-year U.S. […] [Read More]

As another member of the auto-finance industry became chairman of the American Financial Services Association’s board of directors, an executive who has been with Credit Acceptance since 1996 received AFSA’s Distinguished Service Award (DSA) during the organization’s annual meeting in Nashville, Tenn. The association’s highest honor went to Charlie Pearce, who serves as the chief […] [Read More]

Sometimes when a service provider develops new technologies or processes, the firm must make a host of adjustments between a pilot program and when the solution or offering is officially launched into the market. For IAA’s newest offering that germinated through a partnership with SpinCar, IAA chief executive officer and president John Kett told Auto […] [Read More]

Monitoring and managing online customer feedback is a crucial step in protecting a dealer’s reputation. That is according to Cody Lusk of the American International Automobile Dealers Association, which on Thursday announced a new affinity partnership with Podium, which collects and manages business reviews and messages in one central inbox.  “By allowing dealerships to become […] [Read More]

Mark Lanwehr describes Car Keys Express as the first and only company to offer a line of modern, aftermarket keys, and he says that allows retailers and key professionals to offer customers an alternative to what he describes as “expensive OEM devices.” Lanwehr is founder and chief executive officer of Car Keys Express LLC, and […] [Read More]

Location Services announced six executive-level personnel moves on Wednesday, welcoming four new members to its management team and elevating two other individuals into higher leadership posts. The provider loss-mitigation outsource solutions for the financial services industry began its rundown of moves via a news release by introducing its new chief financial officer. Taking on the […] [Read More]

RightSure Insurance introduced RightRater 1.0 three years ago, helping dealerships ensure that car buyers have auto insurance in place before they drive off in their newly purchased vehicles. On Tuesday, RightSure introduced RightRater 2.0, which it describes as a 90-second auto insurance quoting tool auto dealers can use to provide car buyers with immediate auto […] [Read More]

Based on sales data for the first six months of each calendar year dating back to 2013, franchised dealerships are retailing more used vehicles this year than ever. The National Automobile Dealers Association shared that sales trend on Wednesday afternoon as a part of its midyear version of NADA Data 2019, a biannual financial profile […] [Read More]