The used-car shopper who arrives on a dealer’s lot or online listings looking for a vehicle that will save them money at the gas pump may end up spending quite a bit more elsewhere. Specifically, on the transaction itself. While the overall retail used-car market showed sequential price stability last month, with some segments’ prices declining […] [Read More]

Manheim has been busy fine-tuning its technology, as well as bringing new products to the market and strategic moves to further convenience and efficiency for its clients.  Brad Burns, associate vice president of vehicle information at Manheim, has helped lead the push. Manheim put Burns to work, starting with the promotion to his current role […] [Read More]

CT Services and Claim Genius recently announced a strategic partnership to develop and market new artificial intelligence-based inspection solutions for the automotive remarketing and transportation markets within North America. The companies highlighted in a news release that the partnership will combine CT Services’ vehicle inspection process with Claim Genius’s AI inspection technology to create new […] [Read More]

On Monday, Universal Technical Institute (UTI) launched the first session of its new BMW FastTrack technician training program at the Exton, Pa. campus, making it the fifth UTI location to begin offering the 12-week advanced training program. A collaboration between the German automaker and UTI, a leading provider of automotive technician training, BMW FastTrack provides […] [Read More]

FM Capital is looking to serve its expanding number of automotive-related portfolio companies better as well as prepare for its fourth fund. So, on Monday, the firm added a new venture partner — Joe Hinrichs — who most recently was president of Ford’s global automotive business. According to a news release, Hinrichs will assist with […] [Read More]

Now even another government agency thinks implementation of the enhanced Safeguards Rule from the Federal Trade Commission should be delayed. Recently, the Small Business Administration (SBA) Office of Advocacy delivered a letter to the FTC, echoing many of the points previously made via a separate letter sent by the American Financial Services Association, ACA International, […] [Read More]

In a move that could impact auto financing, VantageScore recently announced further steps in supporting consumers affected by medical collection debt. VantageScore said through a news release that the company completed an extensive analysis of how consumer credit score models are impacted by recent changes to how medical collection accounts are reported, including changes brought about […] [Read More]

LendBuzz co-founder and chief executive officer Amitay Kalmar described the characteristics of artificial intelligence, machine learning and algorithms that intrigue him most during this episode of the Auto Remarketing Podcast. Then Kalmar explained what those elements now can do for the benefit of underwriting and more within auto finance. To listen to the conversation, click on […] [Read More]

Acquiring America’s Auto Auction — and merging that business’ 23 auction sites with XLerate Group — just makes good business sense, according to Cam Hitchcock, chief executive officer of America’s Group. The newly consolidated company, which has rebadged its 16 XLerate auction sites with the America’s Auto Auction name, has a broader footprint and an experienced […] [Read More]

Mergers and acquisitions now have involved one of the notable operations associated with collectable cars. On Thursday, IMG, an Endeavor company and a global leader in events, media, sports and fashion, announced that it has acquired a majority stake in Barrett-Jackson, one of the premier collector car auction and live events companies. The companies said […] [Read More]