Though dealers are seeing little easing of used-car prices so far this year, analysts say the outlook is starting to look a bit better for those buying in the lanes and on the lots. According to the latest RVI Risk Outlook report, as used-car supply increases over the next five years, used-car prices, on a […] [Read More]

One of the returning presenting sponsors of this year’s Re3 Conference — Digital Recognition Network — continued its ongoing clash with the American Civil Liberties Union over the use of license plate recognition technology by explaining what the company believes is the group’s inconsistent positions on freedom of speech. DRN highlighted that the ACLU clearly […] [Read More]

Reinsurance provider SideCars announced this week the launch of SideKick, its new online reinsurance software platform for dealers. The software, which is cloud-based, allows dealers to monitor their reinsurance companies online by giving access to limited warranties, service contracts, GAP insurance, collateral protection and business risks including cession statements, financial statements, tax returns and more […] [Read More]

What published reports back in May indicated was in the works came to fruition on Tuesday — Gannett Co. will soon solely own Cars.com. Gannett signed a definitive agreement to acquire full ownership of Cars.com as part of a structure to create two new publicly traded companies with scale. Under the agreement, Gannett will acquire the 73 percent […] [Read More]

There was just a shade under 200,000 certified pre-owned sales in July, according to preliminary results released this morning from Autodata Corp., which said this monthly sales figure is more than a 9-percent year-over-year increase. Specifically, there were 199,950 CPO sales for the month, up 9.4 year-over-year but off 10.4 percent from June. This monthly figure […] [Read More]

This year’s Vincentric Best Certified Pre-Owned Value in America awards were unveiled this morning, and leading the pack among OEMs were Ford and Toyota, each of which were represented by their respective brands’ vehicles in seven segment CPO category awards. Named best CPO value passenger car brand once again was Honda, which also won the […] [Read More]

AutoTrader.com has a new president: Jared Rowe, who spent the past two-and-a-half years in the same role at Kelley Blue Book. AutoTrader announced Monday afternoon that Rowe is replacing Alan Smith, who is leaving the company to pursue personal interests. Taking over for Rowe as president of KBB is Steve Lind, who joined KBB in […] [Read More]

A start-up retail vehicle company aiming to serve the sell-by-owner and corporate fleet markets recently closed a $5 million equity capital transaction to push its expansion efforts. CarLotz highlighted this capital was raised from the company’s existing investors as well as funds from a small handful of investors and executives with experience in national multi-site […] [Read More]

The Rainbow PUSH Coalition, the civil rights organization headed by the Reverend Jesse L. Jackson Sr., announced this week the organization’s annual automotive conference will be held in Detroit in October. The 15th Annual Rainbow PUSH Global Automotive Summit will take place on Oct. 13 at the MGM Grand Detroit Hotel, featuring “over 500 automotive executives, […] [Read More]

Subprime finance company Veros Credit has started its expansion strategy, making its first inroads in markets east of the Mississippi River in states such as North Carolina and Florida. Veros Credit now has marketing representatives in Raleigh and Durham, N.C., as well as Orlando, Fla., to go with new personnel in Dallas, Houston, Phoenix and […] [Read More]