Momentum to modify how the Consumer Financial Protection Bureau is structured and operates gained more steam this week. Soon after the U.S. House Financial Services Committee chairman outlined his plan to revamp the Dodd-Frank Act and more, the House Appropriations Committee’s fiscal year 2017 Financial Services and General Government Appropriations bill passed out of the […] [Read More]

Mark Sargeant insisted banks and other capital providers are interested in the tool AUTOMAP Tracking Solutions offers: a product that can reduce the time it takes to complete an audit to minutes instead of days while mitigating risk. Here’s boiler plate of what AUTOMAP can do: A device is inserted into the on-board diagnostics (OBD) port […] [Read More]

Carfax on Friday announced that Mark Rousseau has joined the company as president of CarProof. Rousseau, who most recently was with LexisNexis, will oversee continued efforts to expand the scope of information reported to CarProof, to develop innovative products that unlock the full potential of vehicle history, and to grow awareness of the company’s ability […] [Read More]

On Friday, QuotePro joined with the National Independent Automobile Dealers Association as its latest National Member Benefit Partner, offering cash-accepting payment kiosks to the association’s growing buy-here, pay-here dealer base. QuotePro’s payment kiosks can eliminate the overhead and risks associated with handling cash payments, including the element of human error, safety concerns and scheduling challenges […] [Read More]

Global online vehicle auction company Copart has acquired a location in Candia, N.H. "If you look at Copart's recent expansions and acquisitions, it's clear that we are experiencing significant growth," Copart's chief executive officer Jay Adair said in a news release. "Candia is a great location that will allow us to better serve Manchester and surrounding […] [Read More]

Choose your words carefully. Turns out this adage is as relevant on the showroom floor as it is anywhere else. Through its “Language of Closers” research, CDK Global found there is optimal verbiage car dealers can use to boost their chances of sealing deals. The top word used by closers was “provide,” used mostly in […] [Read More]

At least two brands notched best-ever certified pre-owned sales results in Canada last month, as the market continues to gain traction with several brands. Subaru reached an all-time high with 249 CPO sales in May, pushing its year-to-date total to 862. Meanwhile, Volkswagen posted a record 1,935 CPO sales (up 0.1 percent year-over-year). Year-to-date sales […] [Read More]

Canadian used-car prices in May were up an average of 0.5 percent from April, according to a report accompanying the latest ADESA Canada Used Vehicle Price Index, powered by ALG. Within the individual segments, monthly price movement varied greatly — for instance, compact SUV prices were down 10 percent month-over-month, while midsize SUVs were up […] [Read More]

Dealertrack Technologies’ Tradetracker Used Vehicle Market Report for May shows that consistency has been king. The Ford F-150 was the most-appraised vehicle in Canada last month. It also held the same top spot when looking at three-month and year-to-date trending.  The other most-appraised vehicles last month, in order, were the Toyota Corolla, Honda Civic sedan, Mazda […] [Read More]

The former chief executive officer of Priceline.com now has that same role with Vroom. Paul Hennessy resigned from his Priceline post last week and succeeds Vroom co-founder Allon Bloch, who will continue with Vroom as a senior advisor, the online used-car retailer said in a statement Wednesday afternoon. Robert Mylod Jr., a former chief financial officer […] [Read More]