Used-car sales this month could trend down a bit from May, but they should maintain the same annualized rate, according to Edmunds. The company released its monthly industry sales projections on Wednesday, calling for approximately 3.2 million used-car sales in June. That’s down from 3.3 million in May. However, the seasonally adjusted annualized sales rate […] [Read More]

Franchise Services of North America (FSNA) — which among its subsidiaries includes U-Save Car & Truck Rental, U-Save Car Sales, Auto Rental Resource Center (ARRC), Xpress Rent A Car, Sonoran National Insurance Group and Peakstone Financial Services — filed for Chapter 11 bankruptcy protection this week. The company said it made the move in the […] [Read More]

Overall used-vehicle values are high, hoisted by truck prices strong enough to pull weakened used cars along for the ride. It’s a trend most analysts who measure how the growing onslaught of off-lease cars and trucks impact used-vehicle prices expect to continue, at least for the rest of 2017. But they also expect laws of supply […] [Read More]

Dominion Dealer Solutions recently announced that it is the latest company to join the National Independent Automobile Dealers Association’s National Member Benefit program. NIADA members can now save on multiple Dominion products, including Web Control, Cross-Sell Reports, websites and Dominion Dealer Specialties' on-the-lot inventory services. "Forging a partnership with NIADA is a natural fit for […] [Read More]

Carfax and MeridianLink recently teamed up to make it easier for auto finance companies to get Carfax Vehicle History Reports. Using MeridianLink’s LoansPQ loan origination system (LOS), officials highlighted this week that thousands of auto finance companies now can order Carfax reports with one simple mouse click. With direct access to valuable Carfax information such […] [Read More]

In an effort to show its finance company clients the caliber of available service, skip-tracing provider Secure Collateral Management (SCM) recently announced the successful completion of the SOC2 Type II audit earlier this month. The Service Organization Control (SOC) 2 Type II examination demonstrates that an independent accounting and auditing firm has reviewed and examined […] [Read More]

On Tuesday, Recovery Industry Services Co. (RISC) announced that Holly Balogh, a former top executive at Recovery Database Network (RDN), has been hired as the president and chief operating officer of RISC. The company added that Stamatis Ferarolis will remain as owner and chief executive officer. “RISC continues to be at the forefront of the […] [Read More]

automotiveMastermind has hired Eric Daniels as chief financial officer to reinforce a controlled financial infrastructure that provides product development opportunities within the company. Daniels most recently served as the chief financial officer of National Response Corporation, a private equity owned environmental services company. He brings 15 years of experience leading global finance teams of both middle-market […] [Read More]

In our second podcast from the Boston area, we chat with Sam Zales, chief revenue officer at CarGurus.  Inside the company's Cambridge, Mass., headquarters, Sam and Auto Remarketing's Joe Overby talk transparency in car-buying, the backbone of CarGurus, moving to the upper-funnel of the shopping process and more. Plus, Sam shares how being a Jets […] [Read More]

It’s no secret or surprise that used-car volumes are up, but a survey released Tuesday sheds some light on where a significant portion of those cars are going: the $100 billion business of vehicles moving through wholesale auto auction lanes.  There were 17.7 million vehicles that reached the auction in 2016, which was 2.3 percent higher than the […] [Read More]