As the company explained the ongoing financial and marketplace challenges in getting TradeRev’s adoption rate higher, KAR Auction Services is launching a pilot program for the tool that Jim Hallett summarized when presenting the opportunity to dealers by saying, “They said, ‘How can we say no to this?’” During a phone conversation with Auto Remarketing, […] [Read More]

Finance companies sometimes give grace to contract holders in hopes the individual can get back on the payment track since it’s potentially much more lucrative than having to go through the repossession and recovery processes. Kroll Bond Rating Agency (KBRA) released a research report last Friday, examining the use of subprime auto finance extensions as a […] [Read More]

As the company gears up to host FICO Auto Mastermind 2019 this week, Nick shared his conversations with a pair of FICO experts who were in San Francisco earlier this year for the Vehicle Finance Conference hosted by the American Financial Services Association. FICO chief analytic officer Scott Zoldi described what clean data really is […] [Read More]

Reedman Toll Auto Group is staking its claim in ride-share vehicle sales and service, a segment still in its infancy but expected to grow and redefine retail automotive, said Daryl Kessler, the group’s vice president. The dealership group’s Langhorne, Pa., campus is home to a new facility and program that caters to ride-share drivers — […] [Read More]

Manheim launched its Manheim Express app in 2018, helping dealers list and selling inventory from the palm of their hands. In 2019, the company launched what it describes as an “in-app buyer experience” that helps dealers purchase fresh, local inventory. The Virginia Auto Dealers Association took notice and decided to use the product to help […] [Read More]

In addition to selling vehicles, Autotrader team members keep busy with community service, including sponsorships, donations, community partnerships and volunteerism. Autotrader and other companies under the umbrella of Cox Enterprises also employ more than 1,700 active veterans, and Autotrader vice president of marketing Greta Crowley notes that the company "continues to make strides in strengthening the […] [Read More]

CarLotz has been in full expansion mode as of late, with the recent opening of its San Antonio location marking a continuation of its 2018 growth pattern that also included new stores in Florida and Illinois. The used-vehicle consignment company now operates eight retail locations and three reconditioning centers in Virginia and North Carolina in […] [Read More]

Holman Automotive likes to talk about its customer lifestyle-focused experience that represents the Holman values.  The company is touting the same theme with the recent opening of its new 145,000-square-foot Audi Fort Washington dealership. Holman says the facility features the all-new Audi Terminal Concept, delivering “a lifestyle-focused experience” that also represents those Holman values. The […] [Read More]

Two more technology firms are collaborating to deliver a solution that’s aimed at impacting how trades and stale store inventory are transacted. LotBlok and WeBuyYourCar recently announced their partnership after the highly successful launch of their vehicle-buying service in California. According to a news release, LotBlok will continue to build out its U.S. operations, while […] [Read More]

To mimic the famous Mark Twain quip, perhaps reports about the drastic demise of the auto finance industry are greatly exaggerated. As some commentators latched onto delinquency metrics shared recently by the Federal Reserve Bank of the New York, auto default data contained in the latest the S&P/Experian Consumer Credit Default Indices showed improvements in […] [Read More]