As widely expected, the Federal Reserve cut the target range for the federal funds rate by 25 basis points to 2% to 2.25%, marking the first downward move by the Federal Open Market Committee (FOMC) in 11 years. A trio of experts who view the economy through the automotive prism and share their analysis with SubPrime […] [Read More]

As the association announced Oliver North as keynote speaker for its annual event on Capitol Hill coming next month, the National Independent Automobile Dealers Association highlighted the final results from its national convention this past June. And as they say, records are made to be broken. For the fourth consecutive year, the NIADA/NABD Convention and […] [Read More]

Just a little more than a month since spinning off as its own entity, IAA, Inc. announced the purchase of an electronic lien and title technology firm on Wednesday afternoon. IAA said it has acquired Lexington, S.C.-based DDI Technology for approximately $17 million (a purchase price that could climb by $4.1 million during the next […] [Read More]

A new board member, a new high-level executive, a new remarketing network in the U.S., and now the acquisition of a finance company that specializes in vehicle leasing. Thus far, 2019 has been quite an active year for PowerBand Solutions. Earlier this week, the online auction and remarketing platform announced the purchase agreement for an […] [Read More]

Rental fleet management software provider TSD has teamed up with connected car platform Zubie for a partnership that provides rental car fleets with advanced telematics insights Fleet operators utilizing TSD will have a connected-car solution at their disposal. TSD customers can tap into the full GPS/geo-fence capabilities provided by Zubie and receive real-time fuel and […] [Read More]

As automakers continue their work in developing self-driving vehicles and moving toward greater electrification, J.D. Power says being aware of whether consumers are on the same road — and headed in the same direction — is important. “That doesn’t seem to be the case right now,” Kristin Kolodge, the executive director of driver interaction and human […] [Read More]

Along with three notable anecdotes from the lanes and prices steadying a bit compared to earlier this month, this week’s Black Book Market Insights report contained a development that editors haven’t seen in 14 years. While the overall used-vehicle market has remained stable during the past three years, Black Book noticed wholesale values in the […] [Read More]

ADESA’s announcement that it has named general managers at three of its locations is an indication of “our deep bench strength and our appeal to outside candidates,” said ADESA chief operating officer Srisu Subrahmanyam. The new general managers are Brian Wong at ADESA Flint, Mark Melton at ADESA Las Vegas and Eric Carpenter at ADESA […] [Read More]

Describing it as “the industry’s first mobile vehicle undercarriage imaging tool,” ACV Auctions developers have created a portable system that they say offers a “never-before-seen look into a vehicle’s undercarriage.” The product, called Virtual Lift, produces high-resolution undercarriage reconstructions. The tool provides “unprecedented insight into vehicle condition,” according to ACV Auctions, a dealer-to-dealer online wholesale […] [Read More]

KPMG discovered overall fintech investment in the U.S. remained strong during the first half of 2019 but dipped a bit following a record year in deal volume and value. But prospects for a robust second half of the year are good. According to the firm’s Pulse of Fintech report released on Wednesday, KPMG found investment […] [Read More]