There might be several used-car managers or buyers for a dealership or group who began a sentence recently with some salty language followed by, “This feels like 2021.” Black Book reported all 22 vehicle segments that analysts monitor in the wholesale market increased in value last week. It’s the first time that’s happened since November […] [Read More]

Call them the bus driver, because ServNet Auction Group is taking folks to school. Or at least creating an easier path for them to get there. The auction group announced this week that it has awarded $44,500 in scholarships to 14 students pursuing higher education opportunities as part of the ServNet Scholarship Program. The program […] [Read More]

The merger of XLerate Group and America’s Auto Auction — announced in late 2021 and completed in early 2022 — to form what’s now known as America’s Group was “about more than just a business transaction,” CEO Chuck Tapp says. “It was an opportunity to create a more robust, capable network that would ultimately serve our customers better,” Tapp said in a news release earlier this year. “Our goal was to build a stronger company that could not only meet the demands of today’s automotive market but also adapt to its evolving needs.” Some 40 months into that merger, America’s Group has ... [Read More]

Odessa has a new chief executive officer. On Tuesday, the provider of technology solutions for asset finance announced the appointment of software services veteran Joe Juliano as CEO. In a career spanning more than 30 years, Odessa highlighted Juliano has launched, led and scaled numerous successful software companies serving national and international customers in complex […] [Read More]

When you examine the trajectory of digital adoption of workflows throughout the automotive sector over the past four years, the growth rate is in the triple digits. That’s one of the highlights of the Q1 Auto Finance Digital Transformation Index based on analysis by Wolters Kluwer Compliance Solutions. Wolters Kluwer reported the four-year trend tracking […] [Read More]

Fitch Ratings predicted on Friday that the Federal Reserve likely won’t trim interest rates again until the fourth quarter, while U.S. credit trends are likely to deteriorate during the second half of the year. And on Tuesday, Fed Governor Adriana Kugler said the U.S. economy is still growing at a “solid pace,” but acknowledged that […] [Read More]

A customer buys a car from a franchise dealership. They take the car back to the dealership for service during the new-car warranty period. And that might last about four years, give or take And then?  Here comes an “enormous drop-off in retention” ... [Read More]

OPENLANE will have a new executive vice president and chief financial officer in place effective on May 27. Late on Tuesday, the company named Brad Herring as its incoming CFO to be responsible for leading all financial, reporting and investor-facing functions across OPENLANE, including the company’s capital investment strategy. According to a news release, Herring […] [Read More]

Salvato Auctions said it will officially launch this summer. But on Tuesday, the auction platform for insurance vehicles announced the appointment of Dan Oscarson as head of global buyer development. With more than 30 years of experience in the auto auction industry, Salvato highlighted Oscarson brings deep expertise and proven leadership to help the company […] [Read More]

Last week, J.D. Power completed its newest analysis of the recently imposed tariffs on imported vehicles and auto parts, which experts said are expected to significantly affect both consumers and the automotive industry in the United States. But J.D. Power stressed this point before delving into the data and breakdown: “Please note, however, that this […] [Read More]