Cherokee Media Group asked Jessica Caldwell of Edmunds about negative equity during a conversation at NADA Show 2024 in February. Caldwell immediately replied, “Right now, that is a yikes.” The latest Edmunds Used Vehicle Report released on Wednesday added more specifics as to why Caldwell offered such a reaction. Edmunds indicated 20.4% of new-vehicle sales […] [Read More]

Launcher is on pace to form a partnership per month. After finalizing two in February, the provider of the appTRAKER Loan Origination System announced its newest partnership on Tuesday, aligning with TruDecision. The result of a full integration is mutual financing clients having seamless access to TruDecision’s analytic solution and proprietary credit risk technology, maximizing […] [Read More]

One View and 700Credit are now working together to leverage their specialties in document management solutions and credit, compliance and fraud prevention tools, respectively. The companies highlighted on Tuesday that their integration provides mutual clients a direct integration to capture all documents from the 700Credit platform into the One View Vault digital document repository without […] [Read More]

Eighteen auto industry organizations, including the National Automobile Dealers Association along with Carvana, IAA, ACERTUS and others with ties to the used-car space, have launched a coalition designed to modernize the vehicle title and registration process. The Electronic Secure Title and Registration Transformation Coalition (or, eSTART Coalition) aims to work with governments to “advocate for […] [Read More]

Dan Chait joined Southeast Toyota Finance in 2002, becoming part of JM Family Enterprises. On Tuesday, Chait was named president of the privately held company, which generates more than $20 billion in annual revenue. Chait, who also will remain chief operating officer, is succeeding Brent Burns as president, while Burns remains CEO. As president and […] [Read More]

Lotlinx co-founder Jason Knight has been named the company’s new CEO. Knight replaces Len Short, who will focus exclusively on overseeing product development strategies for the VIN-specific inventory management platform. In a news release, Lotlinx said Knight’s promotion is part of a longstanding succession plan that began with the formation in 2021 of a six-member […] [Read More]

Copart has a new leader. The online auto auction platform’s board of directors has appointed Jeff Liaw, who has been serving as co-CEO since March 2022, as the sole CEO and a member of the board, effective April 1, as longtime CEO Jay Adair steps aside into the new role of executive chairman. Adair was […] [Read More]

We turned out clocks ahead on Sunday and spring officially arrives on the calendar next week. As far as the auction climate, Black Book said spring is in full swing, in part because 32% of vehicle segments generated a rise in value last week. All told, analysts reported wholesale prices edged just 0.05% lower and […] [Read More]

Auto auction giant ADESA announced leadership changes at four of its locations, with new general managers at the helm in Orlando, Tampa, Minneapolis and Shreveport, La. Rod Thompson has joined ADESA Orlando as GM after nine years with the company, beginning in 2015 as dealer sales and service manager of ADESA Tulsa. He was promoted […] [Read More]

Group 1 Automotive has added another location to its collection — this one in the resort area of Hilton Head, S.C. The dealership group announced the acquisition of Modern Classic Motors, which includes Mercedes-Benz, Sprinter and Honda franchises. The acquisition, which gives Group 1 17 Mercedes-Benz franchises and 13 with Honda, is expected to generate […] [Read More]