J.D. Power Valuation Services might have sounded like the firm formerly known as NADA Used Car Guide was repeating itself when analysts shared both their assessment of used-vehicle price movement in June and their projection for July. According to the latest edition of Guidelines, J.D. Power Valuation Services reported that wholesale prices of used vehicles […] [Read More]

KAR Auction Services chief economist Tom Kontos continues to be intrigued by the special slice of wholesale data he began to share three months ago that’s produced a consistent trend counter to the overall price reading. But first, let’s look at that overall movement. According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle […] [Read More]

As the calendar reached the midpoint of 2017, Black Book spotted some wholesale price movements that experts say might differ during the remainder of the year. According to Black Book data, the average price of a used vehicle in June for model years 2012 through 2016 decreased in value by 1.3 percent, slightly more than […] [Read More]

In partnership with the National Association of Minority Automotive Dealers, Cox Automotive awarded its Rising Star Award to a Kentucky general manager, in honor of her leadership and commitment to both the automotive industry and her community. Chosen for the award is Wadette Bradford of Martin Kia, in recognition of her work expanding the brand […] [Read More]

Another large dealership group in Pittsburgh is going through a change in ownership. A little more than a month after Lithia Motors expanded its operations by securing Baierl Auto Group, GPB Capital announced on Monday that the New York-based asset management firm has acquired a majority stake in Kenny Ross Automotive Group, which operates 10 […] [Read More]

Online car retailer Vroom announced a $76 million round of funding on Thursday that brings its total equity funding up to $295 million. The company said in a news release that this Series F round was led by “certain funds and accounts advised by T. Rowe Price Associates, Inc.”, which was joined by prior investors […] [Read More]

instaVIN, a provider of vehicle history and title information, has launched a revamped website, parent company KAR Auction Services announced Wednesday. Chief executive Jim Irish explained some of the upgrades in a news release. “At instaVIN, we are focused on simplifying vehicle history research for our customers and providing them with the most detailed and […] [Read More]

An experienced technology expert whose previous career stops included stints with Exeter Finance and Capital One is now bringing his talents to defi SOLUTIONS. The loan origination software and lending technology platform provider announced Keven Sticher has joined the team as chief information officer. Sticher comes to defi SOLUTIONS with more than 25 years’ experience […] [Read More]

Financial Network Inc. (FNI) said it is launching a new loan origination system platform in August. Among the new features, FNI highlighted the solution boasts additional data services, workbench screens and overall functionality. The company also pointed out the platform contains a robust strategy engine that is capable of handling application peaks at 100,000 per […] [Read More]

The newest report from AlixPartners — whose client roster includes corporate boards and management, law firms, investment banks and other kinds of investors — cautioned the industry that a “used-car time bomb” is about to explode. AlixPartners explained that it arrived at that dire assertion through a project that began two years ago through what […] [Read More]