On Tuesday, ADESA promoted Zach Hallowell to president of its subsidiary, Recovery Database Network (RDN). The company indicated Todd Hodnett, who most recently served as RDN’s president, is leaving RDN to pursue another business venture. However, Hodnett will remain in an advisory capacity for RDN through the end of the year. Hallowell joined RDN as […] [Read More]

After its chairman passed away unexpectedly last week, Banco Santander announced this morning it has entered into an agreement to acquire Carfinco Financial Group Inc. for $298 million (CDN) in cash in a deal expected to close in the fourth quarter of this year. Per the agreement terms, each Carfinco shareholder will receive cash consideration of […] [Read More]

The seasonally adjusted annualized rate of new-vehicles recently eclipsed a more-than-eight-year high, reaching 17.5 million units in August, according to the latest edition of Guidelines from NADA Used Car Guide. And one of the offshoots of a stronger new-car market has been a boost in trade-ins, and this impact has trickled down into the auction […] [Read More]

Autobytel took to the digital world in the third installment of its Autobytel Dealer Insight Series launched this past week, providing the latest in a quarterly training program designed to help dealers improve the car buying experience and increase sales. The third installment will focus on the key drivers behind car purchases among online consumers, […] [Read More]

With the National Highway Traffic Safety Adminstration’s online database of vehicle recalls now up and running, the National Automobile Dealers Association is hosting a webinar with a top NHTSA official to highlight how stores can use this Web resource. Designed for dealers and their staffs, NADA highlighted the safety recall webinar will review the purpose […] [Read More]

On Monday, Manheim launched this year’s national fall promotion titled “Raise Your Game,” a campaign the company said is designed to educate customers on how they can best tailor Manheim remarketing solutions to fit their needs and take advantage of a wide range of service offerings. With Labor Day weekend in the past and millions […] [Read More]

Price drops in the lanes heated up this past week, with both the cars and trucks seeing larger declines. According to the latest “Beggs on the Used Car Market” report, the car segments saw prices drop by an average of $73, while trucks fell by an average of $64. Black Book editorial director Ricky Beggs […] [Read More]

AutoStar Solutions chief legal officer Steve Levine gathered with three other bright auto industry regulatory experts to compile 10 separate strategies buy-here, pay-here dealers can implement to avoid actions from agencies such as the Consumer Financial Protection Bureau and Federal Trade Commission. Joining Levine, a former dealer attorney, to make these recommendations were: • Terry […] [Read More]

After falling close to 1 percent in July, the ADESA Canada Used Vehicle Price Index was on the way down once again last month. After being adjusted for seasonality, the index fell by 0.7 percent from July rates. The index, powered by ALG, showed that all vehicle segments saw prices drop last month, except for […] [Read More]

Equifax announced that defi SOLUTIONS through its cloud-based loan origination system is now offering its automotive finance company clients access to income and employment verifications through The Work Number,  a proprietary database of employment and income information owned by Workforce Solutions, a business unit of Equifax. By leveraging The Work Number database of more than […] [Read More]