This week, Launcher and Scienaptic AI announced their full integration for mutual auto finance clients to make more advanced underwriting decisions. The companies said they’re able to achieve that objective by incorporating artificial intelligence-powered underwriting signals within Launcher’s appTRAKER Loan Origination System (LOS). Executives explained that integrating appTRAKER and AI-powered signals can enable financial institutions […] [Read More]

OPENLANE has decided on a new leader for its floorplan operation. Will Mitchell, who has served the past three years as AFC’s chief operating officer, has been promoted to the floorplan financing provider’s president, parent company OPENLANE announced. Mitchell will assume that role effective April 1, succeeding Jim Money, who announced his plan to retire […] [Read More]

The auto market will return to normalcy in 2024, which is good news for consumers and at least more predictable for dealers. That was Cox Automotive chief economist Jonathan Smoke’s message in his State of the Industry presentation at the Cox booth during NADA. He divided the outlook into five trends. First, recession is out. 2024 will be a ... [Read More]

Toyota has joined the ranks of automakers that broadened their certified used-vehicle brand to include older, higher-mileage vehicles that do not qualify under the companies’ traditional CPO programs. The new Toyota Certified Used Vehicle Silver extends Toyota’s factory-backed certification and warranty coverage to vehicles up to 10 model years old that have 60,000 to 125,000 miles on their odometers. Additionally, these vehicles are covered by ... [Read More]

AutoManager Holdings Group, a provider of software and tech-enabled services for dealerships, has retooled its executive leadership team, beginning with a new CEO. Jake Morley has now taken the reins for AutoManager after previously serving almost 10 years with Frazer Computing, the largest DMS for independent auto dealers, where he was responsible for sales, marketing […] [Read More]

Black Book cited the wholesale value moves by compact cars to explain why signs of an early spring are appearing at auctions. According to its newest installment of Market Insights, Black Book reported prices of compact cars rose no matter the unit’s age. Values for compact cars 2 years old and newer rose for the […] [Read More]

The NAAA Warren Young, Sr. Scholastic Foundation announced it will open its scholarship application for the 2024-2025 academic year Feb. 20. The application, which can be found here, will remain open until March 28. The foundation said a total of $140,000 in scholarships is available for 2024-25, with 12 $10,000 scholarships — four of which […] [Read More]

Auction Central announced an integration to become a featured auction on One Auction View’s “all-in-one” platform, which allows dealers to browse and proxy-bid on multiple live wholesale vehicle auctions simultaneously. “We and One Auction View share a common goal of putting the auto auction back into the hands of the dealer,” Auction Central CEO Bob […] [Read More]

Group 1 Automotive made a big move to expand its holdings in the Baltimore-Washington market with the acquisition of Maryland-based RRR Automotive Group. The sale includes five new-car dealerships representing Toyota, Honda, Hyundai and Kia, as well as a Toyota certified pre-owned center and three collision centers. Group 1 said the Honda stores included in […] [Read More]

The Patrick K. Willis Co., which does business as American Recovery Service (ARS), had to make three executive changes this week following the passing of Peter Willingham, who was chief executive officer since 2010. Taking over as CEO is Dave Copeland, while the company also elevated Dave Baker to chief operations officer and promoted Christian […] [Read More]