Group 1 Automotive leadership offered a bit more explanation as to why used-vehicle retail revenue and gross profit softened during the second quarter with part of the reason why the company saying it had to tap inventory availability at auctions to fulfill its needs. Officials recapped that Q2 retail used-vehicle revenues decreased 4.2 percent on […] [Read More]

Black Book editors could have broken out a thesaurus on Tuesday when releasing their Used Vehicle Retention Index for July. Upon looking for the right adjective to summarize the latest reading, they could have picked among steady, stable, firm, fixed, unchanged or unwavering. The reason why is the July index reading came in the same […] [Read More]

CarMD recently launched CarMD Garage, its new turnkey online tool that provides car owners, used-car shoppers and auto industry partners with useful vehicle service and repair information. Using any vehicle’s year, make, model and mileage, the new service generates a free CarMD Garage Vehicle Health Report with information on how to both reduce the cost of vehicle […] [Read More]

LenderLive Services, a division of LenderLive Holdings, announced on Tuesday that it will now provide expanded compliance services through a new line of business: LenderLive Compliance Solutions. The company highlighted the new entity will offer both bundled and a la carte services to vehicle finance companies, credit unions, community and regional banks. Maria Moskver, general […] [Read More]

Seven Democratic lawmakers are trying again to push legislation that would prohibit the retailing of vehicles with an unfulfilled recall; a plan prompting the two largest dealership associations to reiterate their objections and explain the potential unintended consequences. Amid all the hubbub over healthcare and the revolving door at the White House, late last week […] [Read More]

Donlen recently announced that it has partnered with J. J. Keller to offer an electronic logging device (ELD) solution for fleets that will ensure they are fully compliant with the Federal Motor Carrier Safety Administration's (FMCSA) ELD rule. Most motor carriers and drivers are required to use ELDs to record their hours of service by […] [Read More]

On Tuesday, FactorTrust released the most recent research findings in its series of underbanked indices, the Underbanked Index – Auto, which is designed to provide insights into the earning and living trends of credit-challenged consumers seeking a vehicle. Such insights can help auto financing companies to better know their customers and make more informed decisions on […] [Read More]

New auto finance analysis from Edmunds shows increases in term length and monthly payments. These metrics have made headlines for some time now as potential buyers focus on what they can fit into their budgets. But Edmunds also noticed an increase in another data point that might help to illustrate the work completed within the F&I office […] [Read More]

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]