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]

Bankruptcy new filings were up year-over-year across Chapter 7, 11, 13, and 15 in January, according to data provided by Epiq Bankruptcy. However, one expert said long-term trends remain “inconclusive.” Total U.S. bankruptcy filings in January came in at … [Read More]

In the auto finance world, things are surely changing rapidly. Prices for new- and used-car inventory were finally coming down a bit in late 2022, perhaps bringing more buyers into buy or “just look” during the holiday season.  Axis Auto Finance vice president of national sales Paul Barnes said, “One of the biggest hurdles our […] [Read More]

This dealer group roundup includes news from two retailers with footprints in both the U.S. and Canada. Starting with Edmonton-based AutoCanada, the company said Monday it has amended its credit facility, which has also been extended to April 15, 2026. The revolving facility in the amended credit facility is now $375 million, up from $275 […] [Read More]