As consumers start to edge away slightly from new-vehicle leases toward financed installment contracts for used vehicles, Equifax Automotive deputy chief economist Gunnar Blix is encouraged by recent payment performance — no matter what type of deal is attached to the unit. The latest Equifax data showed auto finance balances increased by $8 billion in the […] [Read More]

Darwin Automotive introduced Tuesday an exclusive Darwin Online algorithm for automotive parts solution RevolutionParts that is designed to give auto dealers a competitive edge in eommerce auto part sales. The newly developed algorithm uses a vehicle’s VIN to find three top accessories that can be presented to consumers at checkout. This process closely reflects that […] [Read More]

If the latest projections from Edmunds are any indication, look for an improvement in retail used-car sales this month. Edmunds expects February will end with 3.5 million used-car sales, which would beat January’s 3.1 million pre-owned sales. That would translate to a seasonally adjusted annualized rate of 39.1 million used cars, up from the 38.9-million […] [Read More]

Much like the multi-layered benefits from greater off-lease volume for KAR Auction Services, the company’s recent purchase of STRATIM has several prongs of opportunity. KAR announced in early February that it had purchased STRATIM, a mobility and fleet management software company. It’s a move that gives KAR a strong foothold in the world of on-demand […] [Read More]

DriveTime chose a leader with plenty of experience in the franchised dealer group world to be its new chief executive officer. According to an announcement distributed on Monday, Don Reese will join DriveTime as its new CEO beginning in late March. Reese will also be appointed to the DriveTime Automotive Group and Bridgecrest Acceptance boards […] [Read More]

If you consider how the continuous wave of off-lease volume impacts a company as wide-ranging as KAR Auction Services, the most obvious place to start is probably its ADESA business unit. After all, the cars coming off lease not only boost the volumes for the auto auction company, but also affect what the mix of […] [Read More]

XLerate Group Auctions announced Monday that its Charleston Auto Auction and El Paso Independent Auto Auction are currently raising funds to help two local community outreach programs. In Charleston, S.C., Charleston AA is raising money for East Cooper Community Outreach (ECCO), and El Paso Independent AA is raising funds for non-profit corporation Compadres Therapy in […] [Read More]

Auto/Mate Dealership Systems announced Monday that Bluebird Auto Rental Systems has completed integration with Auto/Mate's dealership management system. Customers that use Bluebird Auto Rental's LoanerTrack for their service loaner fleets will benefit from increased efficiencies in the service department, Auto/Mate said. "Having a loaner car system that integrates with our Service Merchandising module eliminates time […] [Read More]

Fitch Ratings recently took a deeper look at the captive segment of auto financing, projecting their performance and potential revenue push toward their parent automaker. Analysts determined the trend of rising leverage for U.S. captive auto finance companies, fueled by strong new-vehicle retail financing and lease demand, has moderated recently, according to Fitch Ratings' latest […] [Read More]

On Monday, the National Highway Traffic Safety Administration (NHTSA) announced the creation of a compliance assistance program to help regulated entities, including vehicle and trailer manufacturers,  as well as equipment manufacturers comply with safety regulations as a means to promote safety on our highways.  NHTSA reiterated that regulated entities may not sell vehicles or equipment […] [Read More]