License plate recognition (LPR) software and data solutions provider MVTRAC on Tuesday announced the closing of growth recapitalization of the company with Bison Capital Asset Management along with changes to its top leadership structure. MVTRAC shared Bison Capital’s investment will allow MVTRAC to accelerate its growth by expanding its sales and client service resources to enhance […] [Read More]

To strengthen and grow its digital offerings, Manheim announced on Monday that Nick Peluso will lead the company’s digital strategy as president of Manheim Digital Marketplace, while continuing as president of RMS Automotive. In his dual role, the company indicated Peluso is responsible for Manheim’s digital channels, including OVE, Manheim.com and Simulcast, in addition to […] [Read More]

Auctions across the country are finding ways to have fun this summer. A few include a Louisiana auction, an Illinois auction and 20 southeastern Manheim locations. Manheim’s southeastern locations participated in the company’s fourth annual Cargaritaville sales event this month. The sales day featured beach-themed prize giveaways, live entertainment and steel drummers. NextGear Capital partnered […] [Read More]

Swapalease.com reported that applicants through its website registered a 68.8 percent approval rate during June, a significant rebound from May when only 48.1 percent were approved. Officials explained the company saw less of an influx of shoppers applying for higher-end luxury leases, which often drives up non-approval rates. Through the first six months of the […] [Read More]

Infiniti Research determined owners who purchased a used vehicle are not keeping them as long as they did just five years ago. According to new information Infiniti Research recently shared, used-vehicle owners previously kept their unit for at least seven years based on information uncovered in 2012. Now, that ownership length has decreased to four […] [Read More]

A new website is set to launch on Tuesday that aims to provide free vehicle history reports that are supposed to include title records (including mileage), accident records and potential title brands. Officials from VinCheck.Info explained that they can offer this information to consumers since their advertisers will be covering the cost. VinCheck.Info is looking […] [Read More]

With average vehicle installment contract terms nearly at 70 months and outstanding auto asset backed security issuance at the highest level in 14 years, the latest update from Fitch Ratings also pinpointed where the weakest vintage in subprime financing appears to be. Fitch’s Hylton Heard and John Bella Jr. explained in a report delivered to […] [Read More]

Now Reynolds and Reynolds only has seven states to go to cover all of the U.S. with resources from its LAW F&I Library — a comprehensive catalog of standardized, legally reviewed finance and insurance (F&I) documents for franchised dealers. Reynolds recently released the LAW F&I Library into three more locations — Nebraska, New Hampshire and […] [Read More]

Consumers' grasp of more online vehicle research channels than ever means fewer dealership visits because car shoppers depend on digital resources to educate themselves, according to Netsertive’s latest survey on U.S. car shoppers’ buying patterns. The digital marketing technology company’s Automotive Shopper Path to Purchase Survey found that 67 percent of respondents only visit up […] [Read More]

AutoBuy, a Florida-based car buying company supplying dealers across the country with often desired, non-advertised used inventory, recently celebrated 100,000 private car sellers served.   With more than $1 billion dollars in inventory appraised in eight years of business, AutoBuy founder Anthony Maida says his used-car inventory rivals that of other auction consignors because the vehicles from […] [Read More]