Another month, another Megasite. Carvana said it’s preparing to convert the ADESA Las Vegas auction into a combination auction-reconditioning facility. The online used-car retailer said it will add inspection and reconditioning center capabilities the existing wholesale auction site, which will continue all of its current digital and in-lane auction operations. The location will anchor the […] [Read More]

Lotlinx on Tuesday rolled out an enhanced version of its Risk Report, offering a unique and customized view of a dealer’s inventory carryover, markdown and aged risk data. The company said this free report offers insights that can help dealers optimize their inventory strategy with a weekly analysis of their store’s inventory data. Managers then […] [Read More]

Holly Vollant has the toughness it takes to be a winner. She started her remarketing career at a small independent auto auction across the street from where she grew up. She took a hands-on approach to “dive into every aspect of the business” from parking cars to transporting them. Vollant has worked her way to leadership roles at Holman and with industry associations. But she’s also a small business owner, running her family-owned fish hatchery. Hailing from a small town in Northwest Pennsylvania, Vollant thrives in the outdoors and loves football – arguably the grittiest of American sports. And, hell, her favorite team is the Philadelphia Eagles ... [Read More]

J.D. Power is entering the auto auction business. The market research firm is collaborating with Superior Integrated Auctions to launch J.D. Power Marketplace, an online auction marketplace for auto dealers designed to “bring the traditional auction process online,” the companies said in a news release, giving dealers access to more than 30,000 front-line ready vehicles. […] [Read More]

John Howard, who is director of product management with Experian Automotive, returned for another visit on the Auto Remarketing Podcast. This episode focused on Experian’s latest look at automotive market movements, how much riper that aftermarket “sweet spot” is now and loyalty trends with hybrid and electric vehicles. Listen to the conversation in the window […] [Read More]

As if hurricanes don’t already cause enough destruction, experts see these wicked storms adding more fuel to the ongoing rise in bankruptcies. According to data provided by Epiq AACER on Monday, total bankruptcy filings through the first three quarters of the year rose 15% year-over-year to 383,182, up from the 332,213 total filings during the […] [Read More]

BizzyCar has closed on a $15 million oversubscribed growth funding round, led by Dealer Tire with participation from existing investors Avenue Growth Partners and Cequel III. In a news release, BizzyCar, whose platform is designed to increase service revenue by automating recalls, said the investment will be used to accelerate growth and scale its artificial […] [Read More]

For El Monte, Calif.-based Longo Lexus, which has ranked among the automaker’s top 10 stores for certified pre-owned sales the past two years and three of the last five, a key driver of success is training the dealership staff on the value of CPO. “Especially Lexus — they have one of the best CPO programs around,” said James Nguyen, the store’s preowned manager. “So, we’re building value, and that’s one of those things that can help us sell the car much easier.” That staff training starts with a philosophy that runs through Penske Motor Group, which ... [Read More]

AutoCanada, fighting to bring itself back to profitability, and CDK, recovering from the financial and reputational sting of a devastating cyberattack, are in it together. The dealership software provider announced a long-term extension of its agreement with AutoCanada, which operates 83 franchised dealerships and six RightRide used car stores in eight Canadian provinces and the […] [Read More]

The Consumer Financial Protection Bureau published a special edition of its Supervisory Highlights on Tuesday focused solely on auto finance. The regulator found numerous “illegal practices,” including vehicle repossessions even when the customers caught up on monthly payments or received an extension. The CFPB said it also found other “illegal conduct” associated with providing inaccurate […] [Read More]