Along with discussing two elements impacting the revenue stream at Insurance Auto Auctions as well as more auction locations that might become part of the company, KAR Auction Services chief executive officer Jim Hallett said the company is seeing volume growth both in the physical lanes as well as its online-only channels. What especially impressed investment […] [Read More]

Few names in the remarketing industry are as resoundingly familiar as Ricky Beggs, the recently retired editor, expert and all-around good guy who reached thousands of people through his writings and weekly video blog for Black Book, a leading provider of used-vehicle values and market research. Ricky is a good friend of mine and, now […] [Read More]

Up next in our Q&A series from the Power 300 issue of Auto Remarketing, we turn to the auction world and connect with Geoff Parker, general manager of ADESA Cincinnati-Dayton.   Auto Remarketing: What are some of the top challenges you’re seeing in the wholesale market this year, and how is your auction overcoming those […] [Read More]

AutoCanada held its second-quarter conference call on Friday, highlighting an impressive boost in revenue and gross profit — perhaps a direct result of the company’s aggressive acquisition strategy over the past year and into 2015. Revenue from existing and new dealerships increased by 75.6 percent, or $351.8 million, to come in at $816.9 million in […] [Read More]

It was an eventful second-quarter conference call for TrueCar, one which included reporting an almost $15 million loss during the quarter, as well as plans for chief executive officer and chairman Scott Painter to step down later this year. Though operating results suffered during the last quarter, the company did report an increase to $65.3 […] [Read More]

With finance companies evidently thirsty for any reliable data and analysis about millennials that’s available, Experian and the National Automobile Dealers Association both chimed in on the topic of consumers born after 1980. Earlier this week, NADA chief economist Steven Szakaly offered a cautious assessment of how millennials are going to impact the market, especially since […] [Read More]

Springleaf Holdings acknowledged when the company reported its second-quarter financial performance on Thursday that its proposed acquisition of OneMain Financial that’s being put together in part to expand its subprime auto financing business won’t culminate until after Labor Day, at the earliest. Officials said they have a timing agreement with the Department of Justice whereby […] [Read More]

McGladrey acknowledged that third-party relationships are helping many financial institutions stay competitive. But the consulting firm insisted these associations also are creating new cybersecurity risks. The situation prompted McGladrey to ask executives and managers whether they’re doing everything they should to protect their systems and data from attacks through their vendors. To help them answer […] [Read More]

On Thursday, TrueCar not only reported that it suffered a $14.7 million loss during the second quarter, but the company also said its founder, chief executive officer and chairman Scott Painter will step down as CEO later this year. The company indicated Painter will retire when his successor takes office, which is expected to occur […] [Read More]

When the calendar turned to August, our enthusiasm for Used Car Week ramped up a few more RPMs. The excitement level also was juiced by nearly another dozen sponsors coming aboard for our series of industry-leading conferences that run from Nov. 16-20 at the Phoenician in Scottsdale, Ariz. The latest additions include: CPO Forum Edmunds.com SubPrime […] [Read More]