Manheim has acquired the undercarriage imaging technology of Synthetik Applied Technologies, the auction company said Monday.  Manheim partnered with Synthetik in 2022, installing close to 40 of its undercarriage imaging devices at 26 of its auctions and captured some 500,000 images. The devices are affixed to the ground and take digital photographs of a vehicle’s […] [Read More]

NCM Associates president and CEO Paul Faletti has joined the board of advisors at Privacy4Cars, the latter said Thursday. In addition to his time with NCM, Faletti’s experience includes executive posts at BMW Group, Jaguar Cars and Maserati NA. “Paul has visibility into a highly valued and expansive dealer network,” Privacy4Cars founder and CEO Andrea […] [Read More]

CarNow has hired former Meta executive Bob Lanham as senior vice president of manufacturer relations, the company announced Thursday. Lanham was most recently head of automotive retail at Meta. His background also includes time with Microsoft, Yahoo, Hulu and Shazam. “Throughout my career I’ve partnered with many dealer platforms, and CarNow consistently topped the list […] [Read More]

During the same week as S&P/Experian Consumer Credit Default Indices noted the December auto reading, the newest analysis Kroll Bond Rating Agency (KBRA) revealed more performance softening based on data from the securitization market. KBRA said December remittance reports showed mixed credit performance across securitized prime and non-prime auto pools during the November collection period. […] [Read More]

When gas prices shot up in the first half of 2022, so did demand for used electric vehicles. Their auction values rose accordingly. Used hybrid values also rose as demand for less gas-hungry vehicles surged.  When gas prices began to ease, EV values at auction also softened, George Chamoun, CEO of online auction ACV, tells […] [Read More]

As an added benefit for Cherokee Media Group Premium Members, we are offering special episodes of the Auto Remarketing Podcasts featuring general sessions from Used Car Week in November. Our next special episode features the second in a two-part series on "What's Happening in Vehicle Consignment." Moderated by Cherokee Media Group's Nick Zulovich, this panel […] [Read More]

Look at any transaction at an auto auction.  It always involves a car dealer. “Period. That’s absolutely inarguable,” says Garrison Hudkins, the 2023 president of the National Auto Auction Association and president of Southern Auto Auction in Connecticut. “But in today’s world, there’s a dealer usually on both sides of the transaction,” he said. “And […] [Read More]

As an added benefit for Cherokee Media Group Premium Members, we are offering special episodes of the Auto Remarketing Podcasts featuring general sessions from Used Car Week in November. Our next special episode features the first in a two-part series on "What's Happening in Vehicle Consignment." Moderated by Cherokee Media Group's Nick Zulovich, this panel […] [Read More]

Findings attributed to 120 dealer responses gathered this month from the CARS Drivers Seat Community identified the top three pain points stores anticipate facing in 2023. The survey results arrived as used-vehicle inventory fell for the fifth straight month in December, according to Cars.com data, while new-model inventory increased on the marketplace for the seventh […] [Read More]

Ahead of next week's NADA Show 2023 event in Dallas, at least two dealer groups have news to celebrate. Starting in the Northeast, Tasca Automotive Group, which is based in Rhode Island, has acquired Gibbons Ford in Dickson City, Pa. from John Grow, who is retiring. That’s according to a news release from Tim Lamb Group, […] [Read More]