Pete MacInnis, founder and CEO of eLEND Solutions, and his team rolled out a pair of new tools during NADA Show 2023 to help dealerships and finance companies. First, eLEND Solutions launched of DealMaker, a digital finance pre-desking platform. MacInnis explained that the platform is an evolution of basic online payment calculator tools and the […] [Read More]

Consumer Bankers Association president and CEO Lindsey Johnson offered a pointed response to a specific part of President Joe Biden’s State of the Union address given on Tuesday night. It all had to do with what Biden referred to as “junk fees.” The president told the nation: “Junk fees may not matter to the very […] [Read More]

The very first and most frequent guest on the Auto Remarketing Podcast appeared again during the 2023 Vehicle Finance Conference hosted by the American Financial Services Association in Dallas. Jeremiah Wheeler, president of DRN and MVTRAC, offered an update about consumer migratory patterns and how they’re influencing vehicle repossessions. To listen to the conversation, click on […] [Read More]

It was an unseasonably balmy February day in Atlanta on Tuesday. Coincidentally, the respective monthly used-car value indices released by two companies headquartered in the area showed signs of warming in the wholesale vehicle market, even “hints” of spring. While both Black Book’s Used Vehicle Retention Index and Cox Automotive’s Manheim Used Vehicle Value Index […] [Read More]

McConkey Auction Group said Tuesday it has promoted Aaron McConkey, who has been the group’s vice president of strategic technology since 2021, to the role of assistant general manager of its DAA Seattle location. In his VP role at MAG, he has worked out of the DAA Seattle location in Auburn, Wash., the past two […] [Read More]

Black Book didn’t officially declare arrival of the spring market, but analysts are quite intrigued about what’s going to happen at the auction during the next few days. Black Book based its expectations after watching wholesale prices soften just 0.25% during the week that closed on Saturday, two days after Punxsutawney Phil predicted six more […] [Read More]

In this special episode of the Auto Remarketing Podcast, we feature a presentation from LotPop chief operating officer John Anderson at Used Car Week, which discusses the following topic: "Race to the Top, Not the Bottom: Strategies to Help Maintain Gross and Volume." Stay tuned for more podcasts from UCW as they become available. To […] [Read More]

RVI Group appointed a new chief financial officer on Tuesday, handing the position to James Bedard, who has more than 20 years of experience in finance, including business planning, financial modeling, expense management and distribution channel effectiveness. According to a news release, Bedard replaced David Klanica, who retired as of Dec. 31. Most recently, Bedard […] [Read More]

Accounting and parts tracking can be some of the most challenging chores for fleet managers. To help, Fleetio added new inventory valuation methods to its list of offerings on Tuesday — LIFO / FIFO (Last-In First-Out, First-In First-Out) — which is an accounting method that Fleetio customers can use to determine their organization’s inventory costs. […] [Read More]

It might be a different elected official serving as the attorney general in Massachusetts, but the top member of the commonwealth’s law enforcement establishment took two swift actions in the automotive space within the space of four days last week. Massachusetts attorney general Andrea Joy Campbell announced a settlement reached with Toyota Motor Credit Corp. to […] [Read More]