In an effort to ramp up its business outside of North America, KAR Auction Services announced this week that its subsidiary ADESA (UK) Limited acquired HBC Vehicle Services. Headquartered in Canvey Island, England, HBC specializes in salvage vehicle auctions and related services. “This acquisition is the start of our expansion into new global markets, and […] [Read More]

MasterFiles executive vice president and skip-tracing expert Alex Price is hosting free webinars this week to highlight two new features of the company’s collections and recovery tools. Topics to be discussed during the 30-minute sessions include: 1. Phon360e: This new tool can allow skip-tracers and repossession agencies to locate a subject’s cellphone number, VOIP, pager […] [Read More]

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]