ServNet added another facility to its roster of independent auction locations. The group’s president Kevin Brown on Friday introduced the group’s newest member:  Houston Auto Auction. Founded in 1964 by James Bowers, the auction continues under the second-generation ownership and operation led by brothers Tim Bowers, James “Chip” Bowers II and Mark Bowers. During the five […] [Read More]

EVOX Images has unveiled a mobile app that lets truck shoppers research and compare models through a virtual reality experience. Equipped with dynamic content uploads and other features to provide the ultimate car viewing experience, RelayCars 5.0 provides a first-hand look inside truck models from the expansive EVOX VR library.  With more than 115 trucks […] [Read More]

On Thursday, ADESA announced the promotion of Kevin Rhoads to general manager of ADESA Kansas City. “Kevin has been a vital part of the growth at ADESA Kansas City in recent years, bringing a positive focus to building lasting customer relationships,” said Paul Lips, chief operating officer at ADESA. “Our consignors, dealers and staff will benefit […] [Read More]

On Friday, Cox Automotive announced that new tools offered by the OVE platform contributed to independent auction partners' double-digit growth in digital remarketing transactions over last year’s performance. “The tangible items are not the most important part of these improvements, but rather the OVE team’s efforts to seek out and address our biggest needs,” said Brandon Bailey, director […] [Read More]

Nicholas Financial top management explained intense competition for subprime paper triggered not only modifications of its infrastructure and human capital, but also how many contracts the finance company booked during the second quarter of its current fiscal year. The company reported during the three-month span that finished Sept. 30 that it secured 3,592 contracts, down […] [Read More]

Officials announced this week that Matrix Warranty Solutions is now a part of the F&I Express network of more than 130 aftermarket service providers. Matrix Warranty Solutions highlighted that its programs are backed by a contractual liability insurance policy issued by a property casualty insurers rated excellent by A.M. Best. “We are excited to partner […] [Read More]

Copart has announced the expansion of its location in Indianapolis. “We are excited to expand in Indianapolis and enhance the member experience by making more inventory even more accessible to Copart members in the area,” said chief executive officer Jay Adair. Copart also has Indiana facilities in Hammond and Fort Wayne. Copart’s patented VB3 technology links sellers to more than 750,000 members […] [Read More]

On Thursday, Group 1 Automotive announced the appointment of Charles Szews to its board of directors. Szews joins eight other directors on the company’s newly expanded board. "Charlie brings strong leadership, experience managing global businesses, and expertise in capital allocation and generating shareholder value," said Earl Hesterberg, Group 1 president and chief executive officer. For close […] [Read More]

In a development relevant to dealerships of all sizes, the Federal Trade Commission on Thursday announced final amendments to its Used Car Rule. The FTC sought public comments on a series of proposed changes to the rule  — formally known as the Used Motor Vehicle Trade Regulation Rule — that requires dealers to display a […] [Read More]

With subprime paper representing only about 16 percent of the total outstanding auto finance balance figure TransUnion reported for the third quarter, the bureau’s top industry analyst indicated that’s not too much lower-end paper currently in portfolios. “Overall, it’s probably a good thing,” Jason Laky, senior vice president and automotive and consumer lending business leader […] [Read More]