KAR Auction Services boosted its revenue by 12 percent year-over-year in the third quarter, as its ADESA, Insurance Auto Auctions and AFC business units all showed gains. Meanwhile, the increase in net income for KAR was even higher, climbing 19 percent to $22.8 million for Q3. Drilling down into specifics, KAR’s quarterly revenue was $533.7 […] [Read More]

MPi, a provider of revenue and retention solutions for dealership service departments, announced that Jaguar Land Rover North America endorsed the company’s EDGE WorldClass tool on Tuesday. MPi and JLRNA are also teaming up to offer Jaguar and Land Rover retailers a special limited-time enrollment incentive. Officials highlighted that EDGE WorldClass is a solution that […] [Read More]

Primeritus Financial Services held its first-ever Agent Partner Event for its national agency partners on Oct. 24-25 in Nashville, Tenn., home to the company’s corporate offices. More than 100 agents joined the Primeritus management team and staff for a tour of the new offices, reception and dinner, followed the next day by a Nashville city […] [Read More]

NEW YORK and WASHINGTON, D.C. — As Ally Financial reported its third-quarter performance and indicated the Consumer Financial Protection Bureau believes the financial company "failed" to fulfill obligations regarding possible discrimination, a top CFPB official restated the bureau's position on regulating indirect auto lending. Ally offered an update on what the CFPB is investigating as […] [Read More]

ALEXANDRIA, Va. — In a development called an "aberration," the American Bankruptcy Institute said total U.S. bankruptcy filings for October increased 11 percent compared to September. According to data provided by Epiq Systems, October bankruptcy filings totaled 89,875, up from the 80,668 filings registered in September. The 86,331 total noncommercial filings for October represented a […] [Read More]

REDWOOD CITY, Calif. — Extending its efforts to help automotive lenders efficiently select agents for asset recovery, Recovery Database Network announced that members of the Recovery Industry Services Company (RISC) Compliant Agent Network (CAN) will be identified within RDN's recovery management software during the agent selection process. Officials explained RISC CAN Members will be tagged […] [Read More]

High levels of supply. That’s a term not heard in the used-car market in quite a while, but if Chrysler and Dodge minivans are hot items on your lot, you might want to take note.  According to Kelley Blue Book, dealers have been enjoying “high supply” of Chrysler and Dodge minivans at auction. As noted […] [Read More]

The Big 3 increased their share of the certified pre-owned market by nearly 4 percentage points in October, as their CPO sales climbed more than 35 percent year-over-year and edged the year-to-date sum closer to 600,000 units. That’s according to Autodata Corp., which shared a brand-by-brand breakdown of certified sales data as well as industry-wide […] [Read More]

Extending its efforts to help automotive lenders efficiently select agents for asset recovery, Recovery Database Network announced that members of the Recovery Industry Services Company (RISC) Compliant Agent Network (CAN) will be identified within RDN’s recovery management software during the agent selection process. Officials explained RISC CAN Members will be tagged with a RISC CAN […] [Read More]

Autobytel this week teamed up with SaleMove to become the exclusive provider to the industry of SaleMove’s innovative technology for enhancing communications with consumers. Officials highlighted that SaleMove’s patent-pending technology is geared to allow dealers and manufacturers to enhance the online shopping experience by interacting with consumers in real-time, using the method most comfortable to […] [Read More]