Black Book pinpointed the reason why it’s been a brisk start to 2019 in the lanes. Reinforced by the assessment of an auction general manager in the Southeast, Black Book executive vice president of operations Anil Goyal described the current wholesale market situation in the latest Market Insights report released on Tuesday. “Lower floors at the […] [Read More]

So how did the certified pre-owned sales market shake out in Canada last year? Here is a glimpse, based on sales results shared by automakers.  Mercedes-Benz Canada posted an all-time high of 13,833 certified sales in 2018, up 3.7 percent. The year included six record months and certified sales at a 76.1-percent penetration, according to […] [Read More]

With the federal government shutdown clash involving President Trump and Congressional leaders already lasting longer than any impasse in history, policymakers, banking leaders and finance companies are all collaborating to help impacted federal workers who are not being paid their wages. Following a statement by five federal and state financial regulators, Consumer Bankers Association president […] [Read More]

Traffic to Cars.com was up 11 percent in 2018, and an especially strong final month to the year could signal healthier-than-expected car buying in early 2019, the company says. And the outlook could be particularly rosy for the used-car market. The company said it had 12 straight months of growth, including a 21-percent year-over-year traffic […] [Read More]

Florida-based Ed Morse Automotive Group has spread its reach to Texas and acquired dealerships in Dallas from Roundtree Automotive Group. These new dealerships are: Freedom Chevrolet by Ed Morse, located at 8008 Marvin D Love Freeway Freedom Buick GMC by Ed Morse, located at 3837 W. Wheatland Road Freedom Chrysler Dodge Jeep Ram by Ed Morse, […] [Read More]

If you’re in the auto industry, you might think of Jim Hallett as a car guy. Or a business guy, if you happened to catch his recent appearance on CNBC’s “Mad Money.”  But know this, too — Jim Hallett is a hockey guy. In addition to the hat he wears as chief executive of KAR […] [Read More]

Technology and auction software services company Xcira has received several patents that it says will safeguard technologies currently being applied in the pursuit of what it describes as “evolutionary changes within the auction industry.” The protected intellectual property includes areas involving artificial intelligence, blockchain technology, and adaptive modeling that power dozens of use cases that […] [Read More]

Auto/Mate Dealership Systems, a dealership management system software company, will open a new office in Chandler, Ariz., late in the second quarter. Auto/Mate said its expansion to the West Coast is in response to the rapid growth it has experienced since a planned acquisition by CDK Global fell through in March 2018. Since that announcement, […] [Read More]

Successful applications for vehicle-lease transfers closed 2018 on a positive note, generating the second-highest reading of the year. Swapalease.com reported on Monday that vehicle-lease credit applicants registered a 71.4 percent approval rate in December, representing a rise from the November reading of 68.9 percent. Site officials highlighted December experienced a slightly lower number of applicants […] [Read More]

FICO recently learned its collection of patents grew by five. Federal officials recently awarded five new patents to the Silicon Valley analytic software firm related to fraud, artificial intelligence (AI) and advanced analytics. In total, FICO currently holds 192 U.S. and foreign patents, and the company has 93 pending patent applications. Two of the patents […] [Read More]