Victor O. Schinnerer & Co., a leading underwriting manager, launched on Monday what’s being called a new dealer open lot insurance program. The program is available to dealership clients and can provide coverage for owned inventory held for sale. The program, offered on non-admitted paper, is provided by a panel of Lloyd’s Syndicates backed by […] [Read More]

The certified pre-owned market was a popular topic during press conferences at the NADA Convention & Expo and in on-site interviews throughout the show. The news that came out Monday afternoon further cements why: CPO sales have never been higher than they were last month. According to Autodata Corp., there were 243,957 certified sales in […] [Read More]

On Monday, ADESA named Marty Nowlin as vice president of human resources. In his new role, ADESA said Nowlin will develop and execute all human resources strategies in support of the overall business plan and direction of the company. His key areas of responsibility will include talent management, succession planning and the company’s training and […] [Read More]

Carfax announced this weekend at the NADA Convention & Expo that MAXDigital has broadened its partnership with the vehicle history report provider. The enhancements include a wider array of information provided to dealers through MAXDigtal’s inventory management platform. So, things such as reported accidents, number of owners and open recalls, for instance, will appear instantly […] [Read More]

To give you a sense of the company’s philosophy around the CARPROOF Vehicle Valuation Report, director of product management Shawn Vording likens it to the approach in the real estate market. “When you’re buying a home, you don’t actually care what similar homes are listed for. You care what similar homes are selling for,” Vording […] [Read More]

Used and new metal is rolling over the curb at paces pleasing to dealers and finance companies. But more vehicles are connected to contracts at lengths approaching the time a two-term president spends in the White House. Autotrader senior analyst Michelle Krebs acknowledged the chatter about longer-term loans intensified as the industry gathered for recent […] [Read More]

Spireon recently launched its next generation GPS vehicle tracking and collateral management system (CMS).  The company highlighted GoldStar Lender has proven to help customers increase their loan portfolio performance by up to 20 percent. The company indicated Spireon’s GoldStar Lender solution can add new features to Spireon’s legacy products for managing and mitigating risk in […] [Read More]

With a record-breaking 2015 under our belts, and 2016 shaping up to be another strong year for new-car sales, many dealers are feeling confident for the coming months. If you’re in the used-car business, however, April’s showers may not bring May flowers unless you have the right tools and strategies in hand. Profitable trade-ins and […] [Read More]

Late on Friday afternoon as much of the industry mingled through the opening day of the NADA Convention & Expo in Las Vegas, KAR Auction Services announced that subsidiary, ADESA, successfully completed the acquisition of eight auctions owned by the Brasher family along with its floor-plan financing business. In addition to the formal completion of […] [Read More]

As the organization often does leading into its annual convention, the National Automobile Dealers Association made a sizeable contribution to a charity within the host city. Leading up to the NADA Convention & Expo in Las Vegas, the dealer body donated a new delivery van valued at $52,000 to Three Square Food Bank. “We are […] [Read More]