ServNet has added a former NAAA manager to help its auctions create events. Ana Williams, who spent four years with the National Auto Auction Association as education and training manager and association services coordinator, has joined the independent auction network as director of meetings and events. “Many of us at ServNet worked with Ana in […] [Read More]

Cox Automotive took another step toward the future of its reconditioning operations last week with the grand opening of its newest auto tech training center at Manheim Chicago. The facility is Manheim’s fifth ATTC, joining training centers at Manheim locations in Southern California, Central Florida, New Jersey and Dallas. Cox announced plans to open the new […] [Read More]

One click put 15,000 dealers down. It was a staggering display of vulnerability. A single action by one individual, likely an unwitting click on a malicious link or attachment, crippled a system that 15,000 car dealerships across the United States rely on for their daily operations. This isn’t a hypothetical anymore; it’s a real-world example […] [Read More]

Safe-Guard Products International announced this week that it has closed on a majority investment from Hellman & Friedman, one of the world’s largest private equity firms. Specific financial details were not included in a news release from the provider of third-party private label F&I protection products for the automotive, RV, marine and powersports industries. But […] [Read More]

F&I Sentinel finalized a partnership with defi SOLUTIONS on Tuesday in a move designed to increase efficiency and accuracy through automation, while improving F&I product compliance for auto finance companies, dealers and product providers. Through the partnership, defi XLOS and defi ORIGINATIONS clients can tap into F&I Sentinel’s CITADEL platform benefits, including: — Access to […] [Read More]

Lendbuzz secured more financial resources for the third month in a row. BHI, the U.S division of Bank Hapoalim and a full-service commercial bank, announced on Tuesday that it has entered into an agreement with Lendbuzz to upsize the existing $20 million facility announced in March 2023. According to a news release, the agreement now […] [Read More]

It’s possible the outage at CDK Global didn’t just limit the actual sales of used vehicles in June. The crisis may have affected the reporting of the pre-owned vehicle sales that did happen. In fact, Cox Automotive found that “reporting was more disrupted than actual sales,” but noted that July will likely make up for June’s disruption in the used-car market. And even with disruption, dealers increased ... [Read More]

Overall satisfaction with car manufacturer websites hit its highest level in 3½ years, according to the latest study by J.D. Power. The research firm’s 2024 U.S. Manufacturer Website Evaluation Study — Summer attributed that jump to rising new-vehicle inventories and increased incentives. “There were numerous macroeconomic factors, such as the lack of chips and inventory, […] [Read More]

Almost overnight, it seems artificial intelligence is revolutionizing industries worldwide, and its impact on automotive is no exception. With the help of AI, automotive finance and lease businesses are already streamlining processes, improving customer experience, and detecting fraud. For lenders, AI offers a more efficient underwriting approval process. For borrowers, AI-powered platforms make it easier […] [Read More]

Another day, another major acquisition for Penske Automotive Group. The global automotive giant added another dealership Tuesday with the purchase of Bill Brown Ford in Livonia, Mich., from Tom and Ruth Ann Brown. The dealership, founded in 1940, has been named the nation’s highest volume Ford dealer each of the past three years and claims […] [Read More]