On the auction block, on the dealer lot and in the consumer’s driveway: used-car prices are going up, and in some cases, breaking records. Starting on the wholesale side of the market, the Black Book Used Vehicle Retention Index, which was released Monday, has now reached a record high for three straight months. Coming in […] [Read More]

Rich Levene spent more than a decade in various executive roles within the wholesale market. Then a little more than a year ago, Levene started his own firm, Dignity Leadership Consulting, which helps its clients develop strategic, profit-generating, high-production teams. Levene discussed how individuals new to the automotive business as well as industry veterans can […] [Read More]

The Clearing House (TCH) released its 2021 Consumer Survey: Data Privacy and Financial App Usage that shows consumers who are using digital banking and fintech apps on a regular basis to manage their finances want greater disclosure and control over their personal financial data, However, the study also indicated these consumers know little about fintechs’ […] [Read More]

J.D. Power pointed out that potential buyers’ ability to secure financing is even more crucial nowadays in an automotive market beset by supply shortages and record high prices. Firm experts said more vehicle shoppers than ever have started to look for vehicle financing before ever setting foot in a dealership, reinforcing findings from the newly […] [Read More]

DDI Technology is now fully operational in the Badger State. On Monday, the electronic lien and title technology firm and a subsidiary of IAA announced the expansion of its electronic title and registration product offering into the state of Wisconsin as a certified EVTR (electronic vehicle title and registration) provider to the Wisconsin Division of […] [Read More]

LendingClub Corp., the parent company of LendingClub Bank, is looking to be in a position to capitalize on the growing volume of auto refinancing. After first launching its auto refinance product five years ago in California, LendingClub recently announced it has expanded its program footprint to include 40 states, covering 94% of the U.S. population. […] [Read More]

CarLotz is going Mobile. Alabama, that is. The consignment-to-retail used-car marketplace is opening its first-ever hub in the state on Monday. In addition to this facility — located at 3016 Government Blvd. in Mobile — CarLotz plans on opening a second Alabama hub this month in Huntsville. “Our continued expansion in the Southeast and entry […] [Read More]

In an effort to help dealer inventory stand tall on the front line and store website, Rapid Recon announced two new features to give users of its reconditioning communications and workflow software more flexibility, operating insight and consumer engagement. According to a news release distributed on Thursday, the enhancements include new executive summary and a […] [Read More]

TrueCar has hired a new senior vice president of product, naming Rich DiStefano to the position. His experience includes time heading up social commerce at Walmart;  mobile and omni-channel product strategy at Hilton Hotel; and mobile commerce at Ticketmaster and Live Nation, where he led the development of mobile ticketing. DiStefano’s experience also includes time […] [Read More]

America’s Auto Auction has named a new assistant general manager for its Virginia Beach, Va., location, hiring Derek Simmerman to the position at America’s Auto Auction Virginia. Simmerman has spent the last seven years in the independent auto auction community, where his background includes fleet/lease management, customer service and marketing. He came over to America’s […] [Read More]