With the Federal Reserve again passing on the chance to move interest rates higher this month, S&P Global Ratings is expecting the Federal Open Market Committee to tick the target range for the federal funds rate up by 25 basis points in December. Coinciding with the announcement of a new Fed chair coming in 2018 […] [Read More]

Andrew Stuart, president and chief executive officer of TD Auto Finance, was among three recipients of a 2017 American Financial Services Association Distinguished Service Award (DSA) during AFSA’s 101st annual meeting. The other two executives given the association’s highest honor included Scarlett Smith, vice president of sales, banking and payments at FIS, and Rex Ellison, […] [Read More]

CDK Global announced Friday that CDK websites will support the specification for Google Analytics that PCG Companies released for automotive dealers last year. CDK dealers and dealer groups can now independently review website and marketing performance data from Google Analytics. “We are excited to offer our dealers a standardized implementation of Google Analytics,” CDK Global […] [Read More]

Manheim recently announced it has appointed Noel Kitsch as general manager of Manheim Georgia and Joey Satfield as general manager of Manheim Fort Myers.   Kitsch most recently served as senior assistant general manager at Manheim Central Florida. He joined Manheim in 2001 as a dealer sales representative before taking on various roles with increasing […] [Read More]

It was quite the quarter and it has been quite the year for KAR Auction Services. The multi-pronged impact from two hurricanes that bear some influence on KAR’s whole-car and salvage auction businesses. Purchasing DRIVIN and Dependable Auto Shippers, and buying the remaining interest in TradeRev. All while keeping pace with a dynamic wholesale marketplace […] [Read More]

It’s the decision consumers who acquire a new vehicle must make in order to have a payment that fits their budget. Stretch the traditional installment contract out to nearly 72 months or take on a lease for about half of that time. Perhaps what’s good news for dealership customers and their used-car managers, Swapalease.com reiterated […] [Read More]

Much of AutoNation’s quarterly conference call included nearly every Wall Street observer who participated wanting more details about the dealer group’s partnership with self-driving technology company Waymo—part of Google's parent company Alphabet Inc. To recap, AutoNation on Thursday announced a multi-year agreement to support Waymo’s autonomous vehicle program. AutoNation said it will offer strategic capabilities […] [Read More]

Dealer Simplified has partnered with Dominion Dealer Solutions to give dealers using any of Dominion's customer relationship management tools access to its automotive auction solution, Auction Simplified, and wholesale buyers network. Via a mobile auction app and desktop solution, Auction Simplified facilitates real-time live bidding from franchise dealers to wholesale buyers. The auction service offers dealers […] [Read More]

AutoNation chairman, chief executive officer and president Mike Jackson didn’t hesitate to point out the reason why the dealer group’s used-vehicle sales during the third quarter jumped 6.4 percent year-over-year. AutoNation stores retailed 59,330 used vehicles during Q3, up from 55,760 units a year earlier. Jackson told investment analysts why stores moved more used metal […] [Read More]

The fight against fraud in auto finance continued last week. PointPredictive held its second Auto Lending Fraud Roundtable last week in Dallas with finance companies representing 48 percent of total automotive originations in the U.S. They met to further collaborate on progressing finance companies’ fight against fraud as well as protecting consumers that can be […] [Read More]