Tru Images, an automotive software provider specializing in automotive imaging solutions, has hired Glen Garvin to be president.  Garvin joins Tru Images after more than 20 years of automotive experience specializing in merchandising and inventory management. His most recent position was as national sales director for AutoSoft, a DMS provider.  “We are ushering in a new era […] [Read More]

Credit Acceptance chief executive officer Brett Roberts approached the topic of competition from three different angles when the subprime auto finance company took questions from investment analysts who wanted more details about its second-quarter performance, which included a year-over-year rise of more than $10 million in consolidated net income. The first way Roberts described how […] [Read More]

Metrolina Credit Co. recently made a significant addition to its senior management team by naming Todd Brister as director of branch operations. For the past two years, Brister served as senior executive manager and portfolio director at Michael Wayne Investment Co. out of Virginia Beach, Va., overseeing the financing services division of The Auto Connection.  […] [Read More]

While the industry and consumers alike are reeling from the massive Takata airbag recall, another airbag manufacturer has come under heightened scrutiny after one of its products was linked to the death of a Canadian driver last month. The National Highway Traffic Safety Administration opened an inquiry into Tennessee-based ARC Automotive last summer based on […] [Read More]

Carvana announced a new funding round Wednesday morning that pushes its total funding toward half-a-billion dollars. With the $160 million Series C funding, the online car retailer’s funding is now at $460 million. Carvana said in a news release that it plans to put the latest round toward growth moves like the expansion of physical […] [Read More]

In the latest installment of the annual Power 300 issue of Auto Remarketing, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features. Next up in this series is Jared Rowe.   (UPDATE: At time of publication, Rowe was president of the […] [Read More]

On Tuesday, Edmunds launched what the company called Edmunds Ad Solutions, a new mobile-optimized ad product for dealers to target in-market vehicle shoppers on Facebook and Instagram. Site officials explained Edmunds Ad Solutions uses exclusive first-party shopping data from Edmunds to serve shoppers with highly relevant native ads on Facebook and Instagram to drive buyer […] [Read More]

Record auction sales volumes are expected this year (9.7 million units) and next (10 million) thanks to continued gains in commercial consignment, according to National Auto Auction Association chief economist Ira Silver. In a July webinar, Silver explained that unlike dealer consignment — a metric that more immediately reflects the new-car environment, which has slowed — […] [Read More]

Two economic trends important for buy-here, pay-here operators to watch — employment and bankruptcy filings — both improved in July. According to the latest U.S. Economic Update produced by Comerica Bank, the nation’s economy added a strong 255,000 net new jobs in July following what the report called a “blowout” of 292,000 net new jobs […] [Read More]

It was the same story, different week for vehicle values — sort of.  “Last week, the depreciation rate on car segments accelerated to the highest level in the year, while truck segments, including pickups and SUVs, continue to show strength,” Anil Goyal, senior vice president of automotive valuation and analytics for Black Book, said in […] [Read More]