To say that 2021 has been a wild year for the automotive industry so far would be an understatement. Record-low inventories and record-high listing prices have created challenging circumstances for both car buyers and manufacturers. Yet at the same time, these circumstances also have presented a wealth of opportunity for dealerships with available inventory that […] [Read More]

IAA is trying to make the situation easier for finance companies and insurance providers when a leased vehicle is severely damaged and considered to be a total loss. On Tuesday, IAA announced an enhancement of the IAA Loan Payoff tool with the ability for insurance carriers to pay off leases from participating finance companies. IAA […] [Read More]

If finance companies based their decisions on how to run and staff their collections and recovery departments based only the metrics included in the S&P/Experian Consumer Credit Default Indices, they truly might be a one-man — or woman — band within their operations. [Read More]

AutoNation increased its used-vehicle sales by more than 32% in the first half of the year and pulled in nearly 22% higher gross profits on those cars, according to quarterly earnings from the dealer group released Monday. [Read More]

Video can be a powerful tool to help your dealership answer questions from potential vehicle buyers and service drive customers. Based on that premise, Covideo, an Indianapolis-based video messaging software company, has partnered with automotive CRM Elead to launch an integration that allows shared users to record, send and track videos within the CRM. According […] [Read More]

Two service providers your store might already use now are working together, so potential buyers know as much information as possible about your used-vehicle inventory. On Monday, Rapid Recon and iPacket, providers of digital reconditioning and digital selling solutions, announced the launch of the Rapid Recon Digital Vehicle Portfolio powered by iPacket. “The addition of […] [Read More]

Credit Union Leasing of America (CULA) is on quite a roll after posting its ninth consecutive month of record lease originations in June. After booking $150 million in lease originations in a single month for the first time in October, CULA said it surpassed $200 million in lease originations in a single month for the […] [Read More]

One of the reasons why Cherokee Media Group expanded Used Car Week to include the National Auto Venture & Investors Conference (NAVIcon) is a development like what surfaced on Monday involving a past Emerging 8 honoree. Lightico — whose next-generation digital completion platform is used by major companies in the insurance, automotive, telecom and financial […] [Read More]

National Auto Care (NAC) made four agency acquisitions last year, and the F&I provider wants to be in a position to finalize even more this year. With M&A growth in mind, NAC on Monday announced the addition of Walter Hoffman, who joins the company as director of corporate development. In this role, the company said […] [Read More]

The National Auto Auction Association has a new chief executive officer. Replacing Frank Hackett, who is retiring from the position after 17 years as CEO, is Tricia Heon, who was previously NAAA’s chief operating officer. Heon will be the first woman CEO in NAAA’s 73-year history. “This marks a milestone for NAAA and for the […] [Read More]