Auction Management Solutions announced this week that the firm recently started by industry veterans Tom Stewart and Richard Curtis has partnered with 166 Auto Auction for business development consulting. Mike Bradley, general manager of 166 Auto Auction, explained why he aligned with AMS, which provides consulting services to the automotive industry that include independent auto […] [Read More]

Equifax and Moody’s Analytics recently suggested commercial banks should consider borrowers who might fall in the non-prime or even subprime tiers to enhance their auto-finance opportunities. Evidently, officials from the Office of the Comptroller of the Currency (OCC) disagree stemming from what they shared in their Semiannual Risk Perspective released this week. The report indicated […] [Read More]

If Canadian dealers have watched what’s happened within the wholesale market in the U.S., they likely have an inkling of what's coming down the lanes from British Columbia to Nova Scotia. Chief economist Tom Kontos summarized his recent presentation during ADESA Canada’s client advisory board meeting as a part of his monthly Kontos Kommentary that […] [Read More]

Apparently, the Fourth of July is not just for fireworks, baseball and hot-dog-eating contests. These days, it’s seen as a “car-shopping holiday” — and one with a big online focus. According to a Dealer.com analysis of dealership website activity, Web visits per dealership during the Fourth of July weekend earlier this month were 73 higher […] [Read More]

Along with some specifics as to what dealers wanted coming down the lanes, this week’s Black Book Market Insights report showed depreciation across the board for all car and truck segments. Editors put particular emphasis on trucks and small crossovers. They indicated vehicles in these segments faced the heaviest price drops this past week with […] [Read More]

The latest Beige Book — the Federal Reserve’s ongoing effort to gather anecdotal information on current economic conditions through reports from bank and branch directors and interviews with key business contacts, economists, market experts and other sources — showed pockets of dealership turbulence in several of the 12 districts. While contacts in Cleveland, Kansas City […] [Read More]

Automotive Finance Corp. (AFC), a business unit of KAR Auction Services, named two vice presidents this week. AFC highlighted Tiff Arcella joined the company as vice president of sales and Devra Callaghan was promoted to vice president of marketing and business development. A sales leader and strategic management expert, Arcella joins AFC with nearly 30 […] [Read More]

Vendor Transparency Solutions (VTS) — a compliance monitoring and continuing education training provider for the recovery and finance industries — recently released its new, expanded library. In an effort to better prepare VTS-subscribed companies with the various compliance-related requests from clients, subscribers now have access to 23 individual policy templates. This service is provided by […] [Read More]

MetroGistics has hired Terry Mollica as director of business development. His duties will include helping to expand MetroGistics’ presence to its growing customer base, with a focus on the remarketing segment. Mollica has more than 18 years of sales and marketing experience, including the automotive, captive finance remarketing and consumer industries. Prior to joining MetroGistics, he was the […] [Read More]

Like their contemporaries at the National Automobile Dealers Association, leaders from the American International Automobile Dealers Association are urging dealer principals to reach out to members of Congress as they adjourn for their summer recess. AIADA insisted the best way to forge a meaningful relationship with elected officials is through its Dealer Visit Program. “We […] [Read More]