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]

With its annual Vehicle Finance Conference coming later this month, the American Financial Services Association (AFSA) announced a trio of promotions reflecting expanded expertise and increased responsibilities in both its federal and state government policy functions. The moves AFSA made this week include: — Celia Winslow, formerly director of legal and regulatory affairs, becomes the […] [Read More]

A New York City-based online dealership now can help its customers with dings, dents and other unsightly ramifications from crashes and mishaps. Signature Auto Group this week announced it will now be administering full services through its body shop partner, Auto Group Collision. Through the new arrangement, Auto Group Collision will now be able to […] [Read More]

CarMax’s used-vehicle unit sales in its fiscal third quarter were down 1.2 percent against comparable stores in the year-ago period. But pre-tax earnings and earnings per share for the retailer were up, something president chief executive Bill Nash called a “testament to the strength of our diversified business model,” in a news release recapping CarMax’s […] [Read More]

A winner of Auto Remarketing’s Certified Pre-Owned Dealer of the Year Award was the location for Manheim’s latest growth initiative in the Midwest. In a move the company described as being “committed to meeting local dealer needs and establishing operations in underserved markets,” Manheim established Manheim Iowa, its first mobile auction site in the state. The […] [Read More]

Just before the holiday rush climaxed, the National Independent Automobile Dealers Association enhanced its roster of National Member Benefit Partners with two providers that can help dealerships make vehicles more attractive on their lots or to dispose of inventory that just didn’t turn as planned. The two companies now collaborating with NIADA as partners include […] [Read More]

As the Federal Reserve mulls interest-rate decisions for 2019, Edmunds explained that December’s auto finance data reinforced how 2018 represented a “tipping point.” Analysts indicated interest rates for new vehicles dipped slightly for a second consecutive month in December. But for used vehicles, the exact opposite happened as the rate jumped a full percentage point […] [Read More]

Following a divestment by Mercedes-Benz Canada, the Dilawri Group of Companies has absorbed ownership of six Mercedes locations in Vancouver that previously formed the automaker’s Vancouver Retail Group. The move was announced Wednesday and was immediately effective. The automaker is conducting a worldwide assessment of its Mercedes-Benz Cars sales and after-sales networks, and this transfer […] [Read More]

Auto Auction Services Corp., which is also known in the industry as AutoIMS, has named a new chief executive officer. Replacing the retiring Mike Broe in this post is Venkat Krishnamoorthy, who was most recently the company’s chief operating officer. Krishnamoorthy has been with AutoIMS since 2002. “I’m delighted that the board has promoted Venkat. […] [Read More]

In an episode recorded at Used Car Week in late 2018, ADESA president John Hammer sat down with Joe to talk about the challenges and opportunities for auctions, where ADESA is finding the next generation of talent and the investment in brick-and-mortar. Plus, how ADESA decides whether to build or buy, the trends driving major purchases by […] [Read More]