On Thursday, Parks Automotive Group welcomed Franchise Equity Partners (FEP) as a minority partner following a capital contribution of approximately $55 million in connection with the group’s recent purchase of the Lake Norman and Gastonia Chrysler-Dodge-Jeep-RAM dealerships in North Carolina earlier this year. Led by president and CEO Adam Parks, the group now has 21 […] [Read More]

Solera closed May with a notable move, becoming a National Corporate Partner of the National Independent Automobile Dealers Association. “NIADA has been a vital advocate for independent used car dealers for several decades,” Solera senior director of inside sales Karen Chagnon said. “We are excited to step up our support of their mission and look […] [Read More]

Many of us have subscriptions for streaming music and video. Now dealers can get one for floor planning, too. On Thursday, Kinetic Advantage announced the launch of a subscription service in an effort to save independent dealers time and money. Kinetic+ is a monthly subscription service for Kinetic Advantage independent dealers that provides subscribers with […] [Read More]

Sedgwick’s latest U.S. product recall index report — which analyzes recall data from five key industries — showed automotive helped to fuel a notable rise in overall product recalls. The firm’s data from the first quarter indicated that the number of product recalls in the U.S. increased 14.2% from the previous quarter, rising to the […] [Read More]

We continue our series of Auto Remarketing Podcast episodes  from the Auto Intel Summit and NRC Spring Summit with a panel discussion on “The Role Data and Technology Play in Delivering the Best Consumer Shopping Experience.” Led by Cherokee Media Group senior editor Nick Zulovich, the panel includes Rusty West of Market Scan, Colton Ray […] [Read More]

In this installment of the Auto Remarketing Podcast series from the Auto Intel Summit and NRC Spring Summit, Stephen Miller, who is co-founder and chief product officer at Fyusion (a Cox Automotive company), shares what could be in store for the wholesale vehicle industry when it comes to artificial intelligence. Check out the full conversation in […] [Read More]

ServNet has named two new directors for its board and a new treasurer. The network of independent auto auctions said Thursday that elected to serve as ServNet treasurer is Clark Stallings of Greenville Auto Auction in North Carolina, while elected to the board was Brandon Thompson of Mid-State Auto Auction in Minnesota and Cody Boswell […] [Read More]

In this installment of Auto Remarketing Podcast episodes from the Auto Intel Summit, Brian Pasch leads a panel discussion that weighs in on the growing field of customer data platforms and the path forward for dealers around CDP. Joining Pasch are Mike Greer of Tealium, Jonathan Lucenay of Client Command and Atul Patel of Orbee. […] [Read More]

It’s not uncommon for consumers with softer credit scores to seek the longest contract terms possible to get a manageable monthly payment. Conversely, Experian is seeing consumers with strong credit scores ask for shorter terms to offset rising interest rates. That’s one of the highlights of Experian’s State of the Automotive Finance Market Report: Q1 […] [Read More]

The National Independent Automobile Dealers Association coined this year’s annual convention with the moniker, “Accelerate.” Troy Scheer, who is NIADA’s director of marketing and communications, explained why the association branded their largest event with this title during an episode of the Auto Remarketing Podcast. “The whole concept and thought behind Accelerate is continuing to move […] [Read More]