Portfolio likes the work done by Jim Cunha, so this week the provider of reinsurance and F&I programs to auto, RV and powersports dealers appointed him as a managing director for sales and agent development. The company highlighted Cunha brings a wealth of experience to the role, having served as an F&I director, dealership principal, […] [Read More]

On Thursday, Prestige Financial Services, a portfolio company of the Larry H. Miller Company, announced the appointment of Pepo Tsvetanov as its new chief financial officer in a move that was effective on Tuesday. According to a news release, Tsvetanov replaces Eric Bennett, who now will serve as CFO at Advanced Health Care, another Larry […] [Read More]

While still higher versus a year ago, Cox Automotive noticed its wholesale price index made a near-record move lower in August. Cox Automotive reported on Thursday via a Data Point that wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased … [Read More]

Perhaps the timeframe should be considered since the drops in wholesale values and estimated average weekly sales rate reported by Black Book derive from the span that closed during the heart of Labor Day weekend. Still, Black Book said on Wednesday that wholesale values dropped by another 0.93% last week, while the estimated average weekly […] [Read More]

Buy-here, pay-here and independent dealerships have been the topic of conversations for at least part of this week’s National Auto Auction Association convention in Dallas. Some of that dialogue took place as NextGear Capital announced on Thursday that it has created an auction advisory board to deepen its commitment to auctions that support independent dealers. […] [Read More]

Today’s automotive industry continues to see noticeable changes in everything from consumer demand, behavior, and shopping patterns to the way operations are dealing with an ongoing shortage of inventory, parts, and labor. What’s more, the shopping process itself continues to evolve into more of a digitized experience. While the industry isn’t fully digitized the way […] [Read More]

Recurrent now is working with two of the most notable names in the wholesale space — ADESA and Black Book — according to separate announcements made on Wednesday. First, ADESA launched a new condition report feature to showcase battery performance of electric vehicles. Powered by Recurrent — an EV battery and range analytics company— the […] [Read More]

Continuing a collaborative theme unfolding in other parts of the wholesale market this week, Work Truck Solutions on Wednesday announced an addition to its Vehicle Acquisition Search Tool (VAST), adding Manheim as a partner. As commercial vehicle inventory shortages continue to restrict franchised dealers’ allotments from the factory, Work Truck Solutions highlighted that enterprising dealers […] [Read More]

This week, Insignia Group finalized a new partnership with CarNow that the service providers claim “will revolutionize how dealerships sell vehicles online.” Through Insignia Group’s API, CarNow has the ability to offer shoppers an interactive buying experience where they can build a 3D model of their vehicle, add accessories and purchase everything needed for the […] [Read More]

The National Auto Auction Association honored two distinguished individuals as Industry Pioneers as part of its annual convention in Dallas on Wednesday. First, NAAA named Wolfe’s Auto Auctions founder and president R. Tony Wolfe as an Industry Pioneer for his leadership, vision and dedication to the auto auction industry throughout his career. Also tabbed as […] [Read More]