General manager Todd Janego wants all 185 full-time and part-time team members to take pride in what they’re doing at Manheim Lakeland. “Our team members are proud of their auction and they ensure that everyone feels like family from the moment they walk through the doors,” Janego said. “It doesn’t matter if you’re a dealer […] [Read More]

Insurance Auto Auctions rolled out its newest tool on Tuesday — IAA Loss Advisor — which the business unit of KAR Auction Services highlighted as a solution that can help insurance claims staff. The company explained IAA Loss Advisor can quickly generate an early total loss recommendation based on information insurance personnel provide regarding the […] [Read More]

At Manheim Nashville, general manager Sam Chaple credits the synergy among his employees with making the auction a great place to work. “Our team members work well with each other and make the extra effort to help each other for the good of the entire team,” Chaple said. Not only that, but they’re “engaged in […] [Read More]

Price declines were seen across a variety of segments last week, but what’s notable is that car prices as a whole fell slightly less than truck prices — a deviation from recent trends. Volume weighted, overall car segment prices from model years 2008-2014 decreased by 0.46 percent last week, which was better than the depreciation […] [Read More]

While consumer sentiment for these type of units remains soft, the Department of Transportation on Tuesday unveiled a Federal Automated Vehicles Policy aimed at guiding the testing and deployment of automated vehicles. Automated vehicles, which can take over some or all of the driving task, are purported to have the potential to prevent human-error car […] [Read More]

Along with appointing a new chief executive officer, ACV Auctions this week announced that it has raised $5 million in venture funding, led by Tribeca Venture Partners, with participation from SoftBank Capital NY, Armory Square Ventures and Rand Capital. In addition, the company appointed Synacor founder George Chamoun as CEO. In conjunction with the financing, […] [Read More]

GPS tracking solutions provider PassTime finalized a strategic partnership on Tuesday with Customized Dealer Financial Solutions (CDFS), which can provide underwriting predictive modeling and analytics to buy-here, pay-here dealerships to help reduce their repossessions and improve their profitability and cash flow. The companies highlighted the partnership will focus on cross marketing and promotion to benefit […] [Read More]

While noting that outstanding balances are at an all-time high, auto defaults moved higher again in August, but not to a degree to trigger an alarm from S&P Dow Jones Indices and Experian. The auto segment of the S&P/Experian Consumer Credit Default Indices for August posted an 8 basis point increase versus the previous month […] [Read More]

Online retailer Vroom has completed a $50 million Series E funding that brings the company’s total funding to $218 million. The funding round — led by T. Rowe Price Associates — will be used to “drive accelerated growth,” the company said in a news release Tuesday. Others in the funding round include new investors Altimeter […] [Read More]

Kathy Ward, president and chief executive officer at Canadian Black Book, is retiring after 36 years with the company. The announcement came from president Brad Rome during the 19th annual Canadian Black Book Charity Golf Tournament. Ward, who as a young woman entered a predominantly male industry, hopes her legacy is to empower women to […] [Read More]