The newest installment of the Market Insights Report from Black Book indicated how December is turning into a joyous time so far for both consignors and dealers. The latest wholesale price data and anecdotes from sale days showed that used-car managers are finding more affordable vehicles to fill their inventories while consignors are fetching satisfactory […] [Read More]

More details arrived on Tuesday from KAR Auction Services with regard to its presence in the repossession and recovery spaces. According to a news release, KAR announced a consolidated management team for its software as a service businesses Recovery Database Network (RDN) and recently acquired Reno, Nev.-based Clearplan. Under the new management structure, all RDN […] [Read More]

Advance Auto Parts recently finished an update of its online resources in an effort to help independent dealerships and buy-here, pay-here stores that have their own service drive or complete some reconditioning themselves. Advance Auto Parts completed the nationwide rollout of its MyAdvance website, an interactive, easy-to–use, mobile-friendly platform that aimed at simplifying the way […] [Read More]

AutoNation is the lead investor in an $146 million funding round for online car retailer Vroom, which officially announced the Series G round Tuesday. T. Rowe Price, L Catterton, General Catalyst Partners, Fraser McCombs Capital and individual investors were also among those contributing to the round, Vroom said in Tuesday’s announcement. The funds are slated […] [Read More]

Last time Sonic Automotive expanded its line of EchoPark Automotive used-car stores, it added a location in the dealer group’s hometown of Charlotte, N.C. This time, Sonic added an EchoPark location in the hometown of its president. “I am excited to open the next EchoPark Automotive store in my hometown of Houston.  We have spent […] [Read More]

ADESA has a new general manager for its Buffalo, N.Y.-area location. The GM of ADESA Buffalo is now David Fountaine, whose background includes more than two decades in the corporate, educational, non-profits and government arenas — including close to 14 years with Maritz, a company that provides market research, sales incentives and training/development services. According to […] [Read More]

While much of the country currently is gripped by a wintry-like chill, CDK Global is collaborating with J.D. Power’s NADAguides to help dealers turn units especially for times when sunshine and warm temperatures return. On Monday, CDK Global announced the integration of the division of J.D. Power and its NADAguides vehicle pricing data and information […] [Read More]

With some shoppers looking to make quite an impression via a holiday gift purchase, Autotrader found a half dozen luxury brands are ramping up their certified pre-owned offerings in hopes of capturing some of that consumer zeal. “Dealerships are highly motivated in December to close sales across their entire inventory, both new and used,” said […] [Read More]

If Benjamin Franklin worked in auto finance today, he might amend his famous quote about nothing being certain except death and taxes to include “and compliance.” Creditors and auto lenders must adhere to a dizzying array of federal and state requirements designed to defend consumers against predatory business practices. Such mandates are on the rise, […] [Read More]

According to the newest update from the Federal Trade Commission, checks literally are in the mail for customers of a California dealer group that settled with the regulator last year. The FTC said it is mailing 43,456 checks totaling more than $3.5 million to consumers subjected to deceptive and unfair sales and financing tactics by […] [Read More]