Digital Recognition Network (DRN) recently embedded DRNsights, powered by vehicle location data plus analytics, into Westlake Financial’s servicing platform to manage risk and reduce losses. The companies shared that Westlake’s recent monthly performance report showed DRN’s data assisted Westlake with an increase in recoveries and a drop in charge-offs during a one month period by […] [Read More]

Carvana has launched its fourth Car Vending Machine, the company announced Wednesday. The San Antonio location joins fellow Texas cities Austin and Houston, along with the original Car Vending Machine in Nashville, Tenn. The eight-story glass structure in San Antonio can hold 30 vehicles and has four delivery bays. “We’ve been offering our free delivery […] [Read More]

Picture a coffee table at one of those beach rentals or family vacation homes. On one side of the table might be travel books, beach-reads and magazines — these are finished products that are signed, sealed and delivered. On the other side might be a guestbook, where vacationers sign their names and share stories from […] [Read More]

The Federal Trade Commission announced on Tuesday that the Sage Automotive Group — which includes nine Los Angeles-based dealerships, its holding and management companies and two individuals — has agreed to pay more than $3.6 million in order to settle charges that it used deceptive and unfair sales and financing practices, deceptive advertising and deceptive […] [Read More]

Steve Langdon, who most recently was president of RSR Global, is returning to ADESA. It was announced that he will take on the role of senior director of business development for ADESA Canada, a newly created position. “As our business has grown and evolved, we have developed a suite of innovative products and services that […] [Read More]

Manheim Pennsylvania is hosting its largest and most extensive Xtreme Spring sales event for specialty consignment on Thursday and Friday. Officials said the sale will feature seven vehicle types across eight sales lanes, including modern muscle, rare classics, Corvettes and motorcycles as well as cars priced $75,000, $100,000 and $200,000. “If dealers haven’t attended the […] [Read More]

The certified pre-owned market in Canada appears to be fairly healthy in starting 2017, at least among those reporting sales to Auto Remarketing Canada. Mercedes-Benz Canada moved 878 certified pre-owned vehicles in February, which beat year-ago figures by 7.5 percent. Through two months, Mercedes has lifted CPO sales 10.5 percent, having sold 1,651 certified units […] [Read More]

This week, KAR Auction Services announced that Sriram “Srisu” Subrahmanyam has joined the company as senior vice president of business transformation. The company noted Subrahmanyam brings more than 20 years of executive operations and consulting experience to the role, including leadership positions across multiple Fortune 1000 companies and industries such as aviation, technology, logistics and […] [Read More]

Used-car managers looking for luxury cars might be finding deals in the lanes, according to the latest Black Book Market Insights Report. Black Book senior vice president of automotive valuation and analytics Anil Goyal said, “Luxury brand cars have shown higher drops in value on a percentage basis in the recent weeks in comparison to […] [Read More]

The National Alliance of Buy-Here, Pay-Here Dealers recently announced the details of its 19th annual BHPH Conference at the Wynn/Encore in Las Vegas on May 23 through May 25. NABD president Ken Shilson explained that the theme of this show is “The Changing World of Buy-Here, Pay-Here,” because the event will focus on how operators […] [Read More]