With credit unions collectively having an immense piece of the auto finance market, institutions are looking to retain that share and even gather a bit more by leveraging technology. CU Direct chief revenue officer Phil DuPree joined Nick for this episode recorded during NADA Show 2019 where they discussed how credit unions and dealerships are […] [Read More]

Continuing to grow its presence “with a strong brand in a market we love,” Larry H. Miller Dealerships announced on Friday its acquisition of Berge Ford in Mesa, Ariz. In other dealer news, Lithia Motors in Medford, Ore., promoted Tina Miller to chief accounting officer. The Larry H. Miller acquisition increases number of the dealership […] [Read More]

Lyft vehicles might range from four-cylinder compacts to eight-cylinder full-size SUVs. But now fueling all of its technology infrastructure is Amazon’s cloud. Amazon Web Services recently announced that ride-sharing company Lyft is “all in” for using its cloud services, which includes database, serverless, machine learning, and analytics. Lyft will use those services to automate and […] [Read More]

There is a dealer group that acquires inventory through KAR Auction Services, and there is not a manager nodding to a ringman in the lanes or hitting the buy button on a mobile device. No, there’s not a ghost or a hologram getting sedans, utilities and trucks for this dealer body. KAR executive vice president […] [Read More]

It’s been a busy opening to the calendar year for Copart as the global online vehicle auction company also finished the second quarter of its 2019 fiscal year with increases in revenue, gross profit and net income. For the fifth time since the end of January, Copart announced the opening of a new facility or […] [Read More]

Two trends emerged when experts from Cox Automotive, Edmunds and Kelley Blue Book took an initial look at auto data from February — rising new-vehicle costs and spiking interest rates. Kelley Blue Book noticed the average transaction prices for new models climbed nearly $1,000 year-over-year in February as interest rates on new-vehicle financing are expected to […] [Read More]

Reviver has been gaining attention with its creation of the Rplate, which it describes as the world’s first digital license plate platform. The company says Rplate transforms the 125-year-old stamped metal license plate into what it describes as “a sleek, digital, high-definition display.” The company recently announced a strategic partnership with Harman, a wholly owned […] [Read More]

In 2018, Manheim’s Digital Marketplace helped make more than 2 million vehicle sales to digital buyers. Now, as part of Manheim’s $100 million investment in expansions to its Digital Marketplace through 2019, the company is offering a new service that teams dealers up with what it calls “a dedicated expert” to help them sell vehicles […] [Read More]

For those who work in or follow the used-car market, you may have seen a familiar face during a late autumn airing of “Mad Money” on CNBC. That being Jim Hallett, chief executive officer of KAR Auction Services, who was interviewed by host Jim Cramer. During NADA Show 2019 in late January, Auto Remarketing asked […] [Read More]

While also revisiting its outlook for the rest of 2019, J.D. Power Valuation Services looked back at the pair of challenges the used-vehicle industry encountered in January and the resulting impact on wholesale prices and more. According to the latest installment of Guidelines, the J.D. Power Valuation Services’ Seasonally Adjusted Used Vehicle Price Index declined […] [Read More]