The word “founder” is all over the resume of Derek White, who started E-Drive Auto in 2011 to “build a better mousetrap” in the auto industry. After speaking on a panel during Used Car Week, he joined Cherokee Media Group associate editor Andrew Friedlander on the Auto Remarketing Podcast to discuss being a serial entrepreneur […] [Read More]

Cory Collins, the F&I trainer for Automotive Reinsurance Concepts, is back on the Auto Remarketing Podcast in an episode recorded during the Used Car Week conferences last month in Scottsdale, Ariz. Collins, a noted F&I guru who works with some of the nation’s largest independent dealers, talks with Auto Remarketing associate editor Andrew Friedlander about […] [Read More]

America’s Group, which includes America’s Auto Auction and AXLE Funding, has added Ben Murdock as senior vice president of revenue to lead the company’s growth initiatives. In his new role, Murdock will be responsible for AAA’s commercial and dealer sales teams and will oversee marketing and information technology strategies. “Ben has an exceptional ability for […] [Read More]

With how turbulent wholesale prices have been in recent weeks, Black Book’s experts went to a descriptive term that might make some dealers and finance companies cringe with flashbacks about the pandemic or other challenging stretches. Yep, it seems after wholesale values dropped another 1.86% overall last week, Black Book acknowledged the market is “establishing […] [Read More]

As CEO Peter Kelly reminded listeners on an investors call Monday, there is a “high hurdle” OPENLANE must clear when making decisions regarding mergers and acquisitions. “I believe that this transaction clears that high hurdle by offering a compelling financial return, but also significantly advancing our digital strategy in one of our core markets,” Kelly said. The transaction to which Kelly refers is OPENLANE’s deal, announced late Monday afternoon, to buy Manheim Canada for $130 million (CAD), which is $95 million (USD). The deal, once it closes, includes ... [Read More]

It’s December, and Step One Automotive Group is definitely in the holiday spirit. The Florida-based dealership group has begun its 25 Days of Giving at its 20 locations in Florida, Georgia and Alabama, with each store spreading holiday cheer in various ways to those in need. The initiative began Dec. 1 and runs through Dec. […] [Read More]

Advanced Business Computers of America (ABCoA) unveiled six enhancements for cyclCRM, the technology company’s fully integrated customer relationship management (CRM) and loan origination software (LOS) with an instant funding portal (Capsa) that initially launched nearly 10 years ago. ABCoA highlighted the newest features in cyclCRM include enhanced email analytics and performance reports, bank connect, geolocation, […] [Read More]

Just before revealing financial results from the second quarter of its 2024 fiscal year, America’s Car-Mart entered into a definitive agreement to purchase the ongoing dealership assets of Allied Union Group, an Arkansas corporation doing business as Central Auto Sales. According to a news release, the existing finance receivables will be excluded from the transaction […] [Read More]

Last week, Jeanne Bumpus, director of the office of Congressional relations at the Federal Trade Commission, testified before the House Judiciary Subcommittee on Responsiveness and Accountability to Oversight. Bumpus told lawmakers the FTC “has established its clear responsiveness” to House Judiciary Committee’s “wide range and unprecedented number of oversight requests.” Since last appearing on Capitol […] [Read More]

Everyone’s talking about artificial intelligence, but what can it do for your dealership? Neil Alliston has some ideas. His company, Ravin AI, has begun working with U.S. car dealers on ways AI can help drive inventory acquisition from the public, create better and faster vehicle appraisals, avoid service department disputes, and mine dealership databases to […] [Read More]