The American Recovery Association (ARA) recently highlighted the successes of the Repo Alliance, a fundraising organization rolled out at the start of the pandemic to boost lobbying and other industry promotion efforts. From discussions with federal lawmakers and their staffs to a meeting with officials from the Consumer Financial Protection Bureau who are involved with […] [Read More]

CarGurus said Wednesday it has launched a new digital retail platform where consumers can begin setting up their vehicle transaction from a dealer’s CarGurus listing page, with expanded market reach capabilities designed to help dealers compete with national online auto retailers. In a news release, the company said CarGurus Digital Deal, “brings greater efficiency and […] [Read More]

What dealers used to see in the lanes when May began still hasn’t returned. Those off-lease vehicles and fleet units wholesale buyers previously could procure about the time of the Kentucky Derby and Mother’s Day remain challenging to get, with prices continuing to tick higher week-over-week. “The market continues to follow a new path of […] [Read More]

Mike Maroone now is a strategic advisor to the board at motormindz, a highly specialized global automotive consultancy, which said his “name commands attention at every level of our industry.” A renowned entrepreneur, investor and auto retailer, motormindz highlighted through a news release on Tuesday that Maroone is regarded as one of the most influential […] [Read More]

On the same day the company closed its purchase of ADESA, Carvana announced via a filing with the Securities and Exchange Commission on Tuesday a workforce reduction of approximately 2,500 employees. Carvana said the workforce reduction is primarily in operational groups in connection with its previously announced plans “to better align staffing and expense levels […] [Read More]

Auto Remarketing is recognizing the 2022 Women in Remarketing honorees in the May issue of the magazine, and will be posting Q&As with each of these outstanding leaders on the website. Next up is Alyshia Tetrick, who is director of strategic operations at BacklotCars. Auto Remarketing: What is the top trend you’re watching in remarketing/wholesale automotive this year? […] [Read More]

Auto Remarketing is recognizing the 2022 Women in Remarketing honorees in the May issue of the magazine, and will be posting Q&As with each of these outstanding leaders on the website. Next up is Danielle Mannone, area manager with IAA. Auto Remarketing: What is the top trend you’re watching in remarketing/wholesale automotive this year? Danielle Mannone: The top […] [Read More]

As franchised dealer groups continue to ramp up their used-car operations, Yark Automotive Group has teamed up with Cox Automotive to launch Yark QuickBuy, an online pre-owned vehicle platform that allows consumers to complete a car-buying transaction digitally in as little as 20 minutes. Yark QuickBuy, which is powered by Cox’s Esntial Commerce technology, provides […] [Read More]

It appears Agora Data might be doing more than just creating a “level playing field” for dealerships and finance companies, but also providing a place for financial victories, too. On Monday, the auto fintech firm announced the closing of ACAST 2022-1, the company’s most recent crowdsourced securitization that originated on Thursday. Powered by proprietary machine […] [Read More]

Kinetic Advantage promoted two of its executives to be senior vice presidents in moves that became effective on May 1. The floor plan provider announced this week that Will Chandler was given the role of senior vice president of sales and operations, while Jennifer Davis-Fink was elevated to senior vice president of IT portfolio management. […] [Read More]