Rapid Recon announced Wednesday that it has appointed Bridget Townsend to serve as the company's new vice president of development. Townsend, a leader in automotive software development, who most recently served as chief operating officer and co-founder at Vin Voyager was recognized as a 2014 Women in Remarketing honoree while serving as VP of inventory solutions at Dealertrack Technologies. “Bridget […] [Read More]

KAR Auction Services on Wednesday elevated one of its executives with significant captive finance company experience to lead its division that offers vehicle service contracts. KAR announced Edmund Field has been named president of the company’s Preferred Warranties business unit. PWI serves independent dealers and smaller franchised stores as well as powersports dealers — offering […] [Read More]

Two leading financial regulatory bodies — the U.S. Department of the Treasury and the Office of the Comptroller of the Currency — each took steps to involve themselves in the fintech space. On Tuesday, the Treasury Department released a report identifying improvements to the regulatory landscape that officials said will better support nonbank financial institutions, […] [Read More]

Figures that include six digits and a comma typically catch the attention of dealership management. EFG Companies recently calculated that the average EFG trainee generates an additional $204,605 per year in F&I income through a 22-percent performance increase. To help sustain this performance increase, EFG Companies announced the launch of EFG Learning Opps Through Virtual Engagement […] [Read More]

Dealership and finance company managers have another free education option thanks to online availability. This week, Compli, a provider of automated HR and compliance program solutions, introduced CMS University. This four-course series of free masterclass-level online seminars focuses on how to build a best-practice compliance management system (CMS). While the series is ideal for finance […] [Read More]

The next step in the collaboration involving the American Recovery Association and the National Automotive Finance Association unfolded on Wednesday. Continuing their repossession efficiency project, ARA unveiled its newly improved Certified Collateral Recovery Specialist (CCRS) program. The resulting baseline standards agreed upon by ARA and NAF Association encompass the key areas of vendor compliance, including […] [Read More]

As the industry turns its collective calendar to August, Black Book is seeing wholesale prices staying “unusually strong” for this time of year. The latest Black Book Market Insights report showed how cars held better retention overall than trucks this past week with prices for sporty cars again increasing slightly. “The used-vehicle market values remain […] [Read More]

More than 1,000 people will convene in Washington D.C. on Friday for a 106-mile charity bicycle ride with the hopes of bringing in over $400,000 for autism research as part of the annual Bike to the Beach DC fundraiser Carfax is supporting for the seventh year in a row. This year, Carfax has set a goal of raising of […] [Read More]

Increases in vehicles coming off leases. Better technology within the selling process. A more digital-first buyer. The need to manage residual risk. It’s such phenomena as these that have led to what auto industry consultant Maryann Keller describes as “more sophisticated remarketing,” where data analysis, cost management and new sales avenues coalesce in scientific wholesale […] [Read More]

Cars.com has unveiled a new social solutions product that is designed to help dealers share their Cars.com used-car listings with active shoppers on Facebook Marketplace. Cars.com announced Tuesday that its new Facebook Marketplace-integrated product, Social Sales Drive, can directly connect dealer's inventory to its business page on Facebook. According to Cars.com, Facebook is two times […] [Read More]