Margin compression is here for the long haul. In 2019 and beyond, dealers will continue to face flattening new-vehicle sales and a growing affordability issue fueled in part by rising interest rates. What’s more, the Q3 2018 Cox Automotive Dealer Sentiment Index identified credit availability for consumers and competition with other dealers as two of […] [Read More]

To cut down on paper usage and streamline operations, Auto/Mate Dealership Systems released a pair of tools on Monday aimed at helping both the finance office as well as the service and parts counter. The first solution is the company’s eDEAL Signature Capture feature, a digital contracting tool that can allow F&I managers to capture […] [Read More]

LAUNCHER.SOLUTIONS (Launcher), a technology provider specializing in subprime auto finance originations, recently announced its successful integration with LexisNexis Risk Solutions. The alliance is designed to give subprime finance companies access to alternative data within Launcher’s appTRAKER loan origination system. The intended results not only could help increase finance company efficiencies, but also enhance understanding of […] [Read More]

Digital Recognition Network (DRN) has new ownership. According to a news release distributed on Monday morning, Motorola Solutions announced it has acquired VaaS International Holdings, a data and image analytics company that includes DRN and is based in Livermore, Calif., and Fort Worth, Texas. Motorola Solutions paid a purchase price of $445 million in a […] [Read More]

With apologies to Shakespeare, the road to retail automotive — like the road to true love — has never run smoothly, nor is it expected to anytime soon. That’s why key players in the auto industry are lining up to help straighten curves and fill in  potholes, so dealers can operate more efficiently and profitably, […] [Read More]

AutoWeb has created a new role titled vice president of strategy and development, and announced Wednesday that hired for the position is Mark Ugar. Ugar was most recently the senior vice president of business development and strategic partnerships at YP Holdings. His background also includes time with media and tech companies like Hearst Corp. and […] [Read More]

Make that 23 locations in the ServNet family. The auction group closed its 30th year by bringing in FastLane Auto Exchange, in the Michigan town of Mount Morris, which is north of Flint. This gives ServNet a presence in the Upper Midwest. “The ServNet auction owners welcome yet another new facility to our ranks,” ServNet […] [Read More]

Lake Charles Auto Auction finished 2018 on quite a high note. On Dec. 12, the operation located in Lake Charles, La., celebrated the grand reopening of its new main office building that consists of 4,000 square feet. The auction offered more than 700 vehicles and sold more than 400 units with an average value of […] [Read More]

During a keynote presentation at last year’s convention hosted by the National Independent Automobile Dealers Association, Cox Automotive chief operating officer Mark O’Neil remarked how a 1960s cartoon, "The Jetsons," foretold the future with things like flying cars and other machines that completed tasks for people. Another development surfaced this week toward a world O’Neil […] [Read More]

Traditionally, the 10th anniversary is celebrated with gifts of tin or aluminum. Well, Digital Recognition Network (DRN) closed 2018 with a series of critical milestones, representing all kinds of metal found during its 10-year history. The artificial intelligence and data analytics company that provides vehicle location data and analytics to auto finance companies highlighted its […] [Read More]