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]

Service shop customers have an option to pay for repairs before picking up their car thanks to a newly launched service from VenueVision Media Systems. Mobile Cashier is an express e-payment solution for parts and service departments that sends dealer-branded notifications of repair completion along with a copy of the invoice to customers’ smartphone, tablet […] [Read More]

The Ford F-150 is continuing its reign as the most-appraised vehicle in Canada. According to the latest Dealertrack Tradetracker Used Vehicle Market Report, the top five vehicles appraised in Canada last month were the F-150, Toyota Corolla, Honda Civic sedan, Ford Escape and the GMC Sierra 1500. Year to date, the only difference is that the Civic […] [Read More]