Full acknowledgement that a good portion of the data-driven updates Cherokee Media Group published on Tuesday contained negative subjects, with a discussion about the possibility of a recession already happening as well as another notable increase in bankruptcy filings. Well, here’s some more upbeat news courtesy of Black Book, which shared its expectations on Tuesday […] [Read More]

Longtime auto auction veteran Tammy Swofford has joined ADESA as senior director of commercial customer solutions. The company said she will be responsible for managing national accounts. “Tammy is a talented industry veteran who excels at partnering with customers to understand their needs and then delivering a solution tailored to maximize potential,” ADESA vice president […] [Read More]

Cox Automotive’s Ken Kraft is putting one more item on his plate. The executive vice president and chief marketing officer will also assume leadership of the company’s sales organization as chief sales officer, Cox said in a news release. Kraft will work with current chief sales officer Tim McKinley, who will retire at the end […] [Read More]

Economists on Monday discussed whether the U.S. already is in a recession. The newest bankruptcy data provided by Epiq AACER might reinforce the point-of-view from experts who see things already in a recessionary state. Also surfacing Monday, Epiq reported total U.S. bankruptcy filings in July increased 24% year-over-year from 35,727 to 44,427. Epiq indicated individual […] [Read More]

Last week, ADP Research Institute chief economist Nela Richardson said, “If inflation goes back up, it won’t be because of labor.” But the ongoing labor situation might be giving a clear indication the economy already is in a recession, potentially snarling underwriting and collections at your auto finance company. Cox Automotive chief economist Jonathan Smoke […] [Read More]

Carvana is adding physical capacity to increase its current volume by approximately three times, CEO Ernie Garcia said on the recent second quarter earnings call. Carvana has cited inventory constraints as a barrier to faster growth. Combined with the ADESA U.S. acquisition, Carvana has the real estate to handle vehicle reconditioning at approximately eight times the current run rate, he said. “We also have very clear plans and high confidence in ... [Read More]

OPENLANE’s latest tool aims to let dealers work less on selling cars at auction. The digital wholesale used-vehicle marketplace has launched Automated Absolute Sale, a new tool that lets sellers set a price threshold at the time of listing, with the vehicle entering Absolute Sale mode when the price is reached. OPENLANE said the feature […] [Read More]

The next episode of the Auto Remarketing Podcast originating from this year’s Canada’s Used Car Week in Toronto featuring a panel discussion with this year’s Women & Automotive Profiles in Leadership honorees Moderated by Kathy Gilbert of CDK Global, this year’s honorees shared highlights of their professional careers and wisdom for other executives. Listen to […] [Read More]

The next episode of the Auto Remarketing Podcast originating from this year’s Canada’s Used Car Week in Toronto recapped a presentation about how women can “pay it forward” throughout all stages of their careers. Kathy Gilbert of CDK Global gave recommendations based on the current landscape for women in the automotive industry and how can […] [Read More]

America’s Group continues its “coast to coast” M&A growth. The auction company said on Monday it has acquired Motley’s Richmond Auto Auction in Virginia, which is its third purchase announced in the last two months. In June, America’s announced the acquisition of San Antonio Auto Auction, followed by July’s purchase of Corpus Christi Auto Auction. […] [Read More]