As many dealers are aware, the Federal Trade Commission (FTC) recently issued new requirements to its Safeguards Rule that take effect Dec. 9. The rule requires auto dealerships with more than 5,000 customer records in their database to develop, implement and maintain an information security program to protect customer information. To help with compliance, many […] [Read More]

As the economy loses steam, bankruptcy filings are gaining momentum. According to data released this week from Epiq’s Bankruptcy Analytics platform, year-over-year U.S. bankruptcy filings increased 7% across all chapters for the second consecutive month in September. Epiq reported that there were … [Read More]

In each month of the third quarter, wholesale used-vehicle prices fell sequentially. That’s according to data and analysis around the latest Black Book Used Vehicle Retention Index, which dropped 4.1% in September, the third straight month-over-month decline. Still, the index, which came in at 176.5 for the month, was … [Read More]

Work Truck Solutions has named a new CEO: Aaron Johnson. With this move, which is effective immediately, Kathryn Schifferle will transition from the role of CEO to that of chief vision officer. “Just a few years ago, we were very fortunate to bring on board one of our earliest advisors, Aaron Johnson, and he met […] [Read More]

Electric vehicles. They’ve dominated discussions in the auto industry as of late, and they are likely posted for growth in coming years. EV and all the moving parts they entail (charging infrastructure, battery health, range calculation, etc.) have been brought to the forefront, as the energy industry turns away from fossil fuels toward cleaner energy […] [Read More]

DrivenIQ announced this week that Alex Lindblad has joined the company as chief technology officer and business advisor. This moved arrived a little more than a month after DrivenIQ said it has raised $15 million in a Series A funding round backed by Capstone Technologies Group. Now as CTO of DrivenIQ — an authority in […] [Read More]

Carvana is serious about pickleball, a sport rising in popularity that combines many elements of tennis, badminton and ping-pong. This week, the online used-vehicle retailer was named as the title sponsor for the Professional Pickleball Association (PPA) ahead of the 2023 season. Founded in 2018 in Salt Lake City, the Professional Pickleball Association is the […] [Read More]

American Recovery Association executive director Joel Kennedy recently reported findings from an industry survey about vehicle and lot storage costs. Kennedy explained that ARA is examining this entire category of expenses that includes everything from rent, security, insurance and staffing. ARA’s survey indicated: • 71% of respondents have between 1-3 vehicle storage lots, and over […] [Read More]

Edmunds drilled deeper into its third quarter auto finance data on Wednesday, looking closer at consumer who are making a monthly payment of more than $1,000. Analysts found four more intriguing trends, including … [Read More]

The TurboPass PayStub report rolled out nationally this week. According to a news release from TurboPass, dealerships in all 50 states now can experience faster funding, more down payments and fraud prevention on customers with payroll data. Internal TurboPass research has found that more than 2 million people in the U.S. fake paystub documents every […] [Read More]