Sym-Tech Dealers Services announced Friday that it has completed its purchase of SSQ Dealer Services. The deal to acquire SSQ from Beneva Group was initially announced in November. SSQ provides vehicle protection products and services to dealers in Quebec, giving Sym-Tech a greater presence in that province. “We are excited to close the acquisition of […] [Read More]

December marked the largest annualized decrease in the history of the Manheim Used Vehicle Value Index. However, this downturn comes at the end of an “extremely volatile” three years for the used-car market, which saw historic increases in price the year before, says Jonathan Smoke, chief economist of Manheim parent Cox Automotive. And that volatility […] [Read More]

PureCars said Monday it has named a chief financial officer as well as a chief product officer. Bryan Urroz has been appointed CFO, while the Matthew Groner was named CPO. Before PureCars, Urroz was at DealerBuilt, where he was also CFO. Groner’s background includes time with Viacom, TransUnion, AdTheorent, DoubleVerify and Mediaocean. “As an industry […] [Read More]

As I examined dealer inventories in the final weeks of 2022, it’s become clear that many dealers have a hangover problem. The hangover is like many of us have experienced. It’s when we overindulge (and potentially get over-served) with family and/or friends. Then, the next morning arrives, and you pay for the good times you enjoyed. For […] [Read More]

In this special episode of the Auto Remarketing Podcast, we feature a panel discussion from Used Car Week with top analysts in auto retail. Moderated by Cherokee Media Group's Joe Overby, this panel includes Kevin Roberts of CarGurus, Zack Krelle of TrueCar, Karl Brauer of iSeeCars.com and David Greene of Cars.com. Stay tuned for more […] [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 "How Tomorrow’s Thriving Secondary EV Market Is Taking Shape Today" panel discussion at the National Remarketing Conference, featuring Scott Case […] [Read More]

America’s Group has named a chief operating officer. The company, which includes America’s Auto Auction and AXLE Funding, has hired Paul Evans for the COO role. Evans’ background includes time as interim CEO and board director of Hill International, chief financial officer and treasurer at MYR Group, board director at GameStop, and CFO and board […] [Read More]

On Monday, S&P Global announced the acquisition of TruSight Solutions, a provider of third-party vendor risk assessments. Executives highlighted through a news release that the acquisition will combine with KY3P by S&P Global and integrate into the Market Intelligence division. They said the move will further expand the breadth and depth of S&P Global’s third […] [Read More]

In effort to boost auto financing and other services for members, Kentucky-based L&N Federal Credit Union selected Jack Henry’s Symitar platform to support its growth goals. Jack Henry said through a news release that the credit union recognized the need for a flexible and customizable platform as it prepared to surpass $2 billion in assets. […] [Read More]

Alloy released a survey report on Monday indicating that 27% of respondents involved in financial services lost more than $1 million to fraud during the past 12 months. The identity decisioning platform said 70% of respondents reported losing more than $500,000 to fraud, with fintech companies and regional banks being the most likely to report […] [Read More]