In pre-COVID times, a given year could yield upwards of 10 million vehicles sold at NAAA-member auto auctions. That’s also about how many questions arose when Carvana announced a deal in February to acquire KAR Global’s ADESA auction business in the U.S. (Well, at least in this reporter’s mind). More than six months have passed since […] [Read More]

The newest auto finance data from Experian reinforced the theory that consumers are taking delivery of used vehicles more often because of necessity. As the automotive market continues to face inventory shortages, analysts said consumers are shifting back to the used-vehicle market. According to Experian’s State of the Automotive Finance Market Report: Q2 2022 released […] [Read More]

TEXT2DRIVE acknowledged that a previous J.D. Power study showed that dealers capture 88% of customers’ annual service visits during the first three years of new-vehicle ownership. But TEXT2DRIVE wanted to know what keeps those service-drive customers returning after that span when the model is clearly a used vehicle, so the company conducted its own proprietary […] [Read More]

Group 1 Automotive will start the new year with a new chief executive officer. The retailer said Wednesday that president and CEO Earl Hesterberg will retire from his chief executive post and from the board of directors on Dec. 31. Stepping into the CEO role on Jan. 1 will be Daryl Kenningham. Kenningham, who is […] [Read More]

Auto Approve added to its management team and its offices in the Windy City on Wednesday. The fintech innovator specializing in automotive refinancing announced it has appointed veteran automotive industry executive Jordan Batt as its president. Auto Approve also announced that, after opening a Chicago office in Willis Tower in April, it has now doubled […] [Read More]

Now companies can offer their employees insurance coverages for their personal health and car. This week, vehicle service contracts provider Toco Warranty rolled out plans directly to employers as an employee workplace benefit, in addition to their direct-to-consumer line. Toco Warranty’s expanded offering, called Toco at Work, now provides employers the opportunity to purchase coverage […] [Read More]

Growing adoption of EVs means more of those vehicles likely are flowing through your finance office. This week, National Auto Care announced the launch a vehicle service agreement, lifetime limited warranty and lifetime battery limited warranty, all developed exclusively for electric vehicles. The company said the product line provides coverage for both new and pre-owned […] [Read More]

In 1982, Michael Jackson’s album, “Thriller,” was released and Digital Matrix Systems (DMS) opened for business. This week, the risk management solution provider announced its 40th anniversary as a provider of data-driven solutions to leading financial institutions and insurance companies. Since its inception in 1982 by founder and chief executive officer David McGough, DMS has […] [Read More]

FrogData announced its new product this week during the Gartner Data & Analytics Summit 2022. The company launched FrogData Decision Analytics Platform (FDAP), which is designed to be an affordable, data-to-decisions analytics platform for use across large and mid-sized companies. FrogData highlighted the solution can give organizations the ability to leverage their data for analysis […] [Read More]

The Federal Trade Commission said on Tuesday that the regulator has declined to extend the public comment period for its proposed rule that would ban “junk fees and bait-and-switch advertising tactics that can plague consumers throughout the car-buying experience.” Despite efforts by organizations such as the National Automobile Dealers Association to seek an extension, the […] [Read More]