As was widely anticipated, members of the Federal Open Market Committee at the Federal Reserve chose to raise the target range for the federal funds rate from 1 percent to 1.25 percent on Wednesday. While the vote to raise the rate was nearly unanimous, one FOMC member earlier raised concerns about the economic trends that […] [Read More]

MetroGistics has brought aboard new director of human resources Lainey Strohmeyer, who most recently served as director of human resources for Intelliteach. Strohmeyer is certified as a senior professional in human resources by the HR Certification Institute and a senior certified professional by the Society for Human Resource Management with more than 12 years of […] [Read More]

KAR Auction Services chief economist Tom Kontos reported overall wholesale prices in May rose nearly 4 percent year-over-year. But a recent addition to Kontos’ analysis in order to give the industry a better understanding “once again shows significant price softening.” According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model […] [Read More]

Kia Motors America has now gone 16 straight months of certified pre-owned sales records, the company said Wednesday. Kia moved 7,008 CPO units last month, which beat year-ago figures by 10.2 percent and was its best May ever, according to Autodata Corp.  Through five months of the year, there have been 33,414 Kia certified sales, […] [Read More]

PERQ — a service provider that says it has experts in online consumer engagement and behavior to help dealers — on Wednesday announced the winner of its annual $25,000 FATWIN Sweepstakes. The recipient was a customer who shopped online through a Florida Ford store’s website. Jose M. Hervis Garcia from Plantation, Fla., was selected from […] [Read More]

The National Auto Auction Association’s deadline to submit nomination applications for its 2017 Auto Auction of the Year Award for Excellence in Community Service is July 14. Nominations close at 11:59 p.m. (PDT) that day. Click here for application submission details. Four Chapter Auto Auction of the Year Award recipients will be announced as part […] [Read More]

In Episode 7 of the Auto Remarketing Podcast, Anil Goyal and Jared Kalfus of Black Book call in to talk with Joe and Nick about auto finance, the spring market in used-car values, the off-lease surge and more. Our interview with the pair of Black Book experts was on May 30.  Download and subscribe to the […] [Read More]

Insurance Auto Auctions has begun constructing IAA Fort Worth North, the company’s upcoming new branch scheduled to open in November. The new 18,000-square-fot branch will sit on 200 acres north of the Dallas-Fort Worth area, complementing IAA branches in Grand Prairie and Wilmer, IAA said. IAA Fort Worth North will include office, run and drive […] [Read More]

Online used-car marketplace Shift has announced that next month, the company is set to gift one California resident any BMW listed on Shift.com (provided the vehicle is priced at $20,000 or less) as part of its current California BMW Giveaway contest. Californians interested in entering the contest can visit the Shift Facebook page, where on July 10 the grand […] [Read More]

A debt collection expert explained the importance of the rule-making pivot the Consumer Financial Protection Bureau evidently is making when it comes to finance companies and other credit providers looking to collect from consumers who defaulted. CFPB director Richard Cordray shared the details during his prepared remarks during last week’s consumer advisory board meeting. Cordray […] [Read More]