Last week, to cap off its User Summit, DealerSocket announced a development with Dealertrack Technologies, impacting the companies’ U.S. and Canadian customers. The two technology companies entered into a definitive agreement under which DealerSocket will acquire Dealertrack’s Inventory+ business in an all-cash transaction for approximately $55 million. Dealersocket management said the acquisition will bring over […] [Read More]

Finance companies wondering about which competitors are booking the deals they believe they should be originating now can tap an enhanced solution to find answers. Through a partnership with Black Book, Equifax on Wednesday introduced new features to its Lost Sales Analysis tool for guiding finance companies’ business decisions based on analysis of their lost […] [Read More]

Sen. Richard Blumenthal, a Democrat from Connecticut, continued his efforts against the retail sale of vehicles with open recalls by taking aim at CarMax on Monday, urging the Federal Trade Commission to “take immediate action to halt CarMax’s dangerously deceptive marketing of used cars with lethal safety defects.” Blumenthal says he took these steps  in light of a […] [Read More]

The exercise seemed simple enough. Or so I thought. Fill out a condition report on one of the vehicles sitting in the auction arena just outside the classroom at ADESA Charlotte. While the actual attendees of NAAA's Auction Standards Training class went right to work, knowing exactly where to go as they furiously filled in boxes […] [Read More]

New-car dealers in the Chicago metro area, colloquially known as Chicagoland, recently donated more than $121,000 to the USO of Illinois and local troops. Seventy Chicagoland dealers collaborated to put on the USO Barbecue for the Troops fundraiser, the mid-July culmination of a month-long fundraising campaign to help support the military. The Chicago Automobile Trade […] [Read More]

Lithia Motors is again saying “aloha” to potential customers in Hawaii by adding a fourth store within the state to the dealer group’s portfolio. On Tuesday, Lithia announced it acquired Acura of Honolulu, a dealership the company indicated will add $50 million in estimated annual revenues. Back in March, Acura of Honolulu moved into a […] [Read More]

With their values down 10.5 percent, entry-level cars have shown the most depreciation of any segment since the beginning of May, according to Black Book. And last week, that downhill movement only continued. So, given how the supply of off-lease and rental cars is ramping up at auctions — which could potentially drive these prices […] [Read More]

Customer satisfaction with light vehicles fell to the lowest it’s been in over a decade in light of the increasing nature of both recalls of various nature as well as the increase in vehicle prices. That’s according to the American Customer Satisfaction Index, or ACSI, and the results of its ACSI Automobiles Report 2015 released […] [Read More]

The Consumer Financial Protection Bureau released its monthly consumer complaints snapshot report on Tuesday, drilling down into a pair of topics. Those spotlight subjects included credit reporting and the city of Los Angeles. As of Aug. 1, the CFPB reported that it has handled 677,200 complaints nationally. Some of the findings from the statistics being published […] [Read More]

Of the more than 30 educational and networking sessions on tap for the Debt Connection Symposium and Expo 2015, one of the highlights is the session geared specifically for the vehicle recovery space. Event organizers highlighted that the Auto Finance Peer Group breakout session is being set up to provide auto creditors the opportunity to meet […] [Read More]