Cox Automotive president Sandy Schwartz acknowledged tasks ahead are going to create a busy time for company executives, managers and staff during the remainder of the year as they finalize the $4 billion acquisition of Dealertrack Technologies, a development made public on Monday morning. However, Schwartz emphasized the focal point for meeting agendas, project lists […] [Read More]

The ServNet Auction group recently highlighted the wave of summer-season sales its independent auctions plan to host in the coming months. “The summer promotions at ServNet are trend-setting events, and for years have defined the season,” said Patty Stanley, the group’s president. “They bring customers together from all parts of the country for good times […] [Read More]

During the past few years, it was Dealertrack Technologies announcing not only year-over-year growth but also acquisitions that pushed the company toward plans to move next year into a larger new headquarters consisting of more than 200,000 square feet. Then on Monday, the perspective completely flipped for Dealertrack as word came to light about Cox […] [Read More]

What seems to be an unfortunate fact about business, in general, is that no matter how good you do your job, you can’t make everyone happy. That is especially true in customer-service oriented occupations, such as vehicle sales. If your dealership has never received a negative review on any of the review sites online, congratulations, […] [Read More]

The increasing digitization of the auto sales industry has changed more than just the screens and mediums shoppers’ use to research their next vehicle purchase. In the recently released Earnst & Young Future of Automotive Retail report, the company contends we are in the midst of an overall automotive retail paradigm shift. EY broke the […] [Read More]

Used vehicle deprecation in May accelerated at a quick pace after tax season came to a close, but price drops in the lanes are expected to slow this month. Last month saw depreciation ramp up to the fastest rate seen in more than six months. That’s according to the latest edition of Guidelines from NADA […] [Read More]

The first several months of 2015 have brought fears and concerns that the automotive lending market faces another subprime bubble like we saw back in 2008.  In reality, based on what we have seen at Dealertrack, the credit picture is good for the American consumer, and there is no subprime lending bubble in automotive retail […] [Read More]

Nationwide recovery management services provider Millennium Capital and Recovery Corp. recently hired Alison Kinnear as general counsel and chief compliance officer. Millennium indicated Kinnear will lead the company’s in-house legal and compliance activities. President Jayne Bronchetti highlighted the addition of Kinnear will further serve to strengthen the Millennium’s compliance monitoring and training program for its […] [Read More]

In an effort to give finance managers more options to present to vehicle buyers, Inilex recently announced that its SkyLINK theft-recovery system has been selected by Reynolds and Reynolds as part of the Reynolds Certified Interface (RCI) Program. The provider of telemetry solutions for vehicles explained this certification means that SkyLINK can seamlessly interface and securely […] [Read More]

Cox Automotive added to its industry portfolio this morning, announcing that it will acquire Dealertrack Technologies in an all-cash transaction valued at $4 billion, or $63.25 per share. Officials indicated the acquisition is subject to a minimum tender of at least a majority of the outstanding Dealertrack common shares and customary closing conditions, and is expected […] [Read More]