It’s been a busy week for Carvana near the picturesque mountains of Utah and along the shores of the Gulf of Mexico. But Carvana hasn’t been on vacation. Rather, the company opened seven more locations to expand its digital retailing footprint for onsite delivery to 279 markets. The newest locations where Carvana now does business […] [Read More]

As finance companies modify their ongoing strategies, perhaps what the Federal Reserve does with interest rates will give executives at least one consistent ingredient on which to build forward-looking plans. Members of the Federal Open Market Committee (FOMC) decided unanimously to keep the target range for the federal funds rate at 0 to 0.25%. The […] [Read More]

McConkey Auction Group is migrating ABS Auto Auctions, its digital auction company for the Southwest, into the EBlock platform; a move expected to be completed by early summer. ABS is a digital auction company that has 10 physical locations (where ancillary services like inspections and tasks can be completed) but whose sales are all online. MAG […] [Read More]

When purchasing a new car, many people conduct research and consider the up-front expense. But what about ongoing costs such as fuel, maintenance, insurance and vehicle depreciation? Those can vary greatly from one model to the next, according to Kelley Blue Book. With that in mind, Kelley Blue Book’s experts named the 2021 model-year brand […] [Read More]

CarGurus made a move Wednesday to further strengthen the digital retail segment of its business. The online auto marketplace announced it has hired former Amazon executive Brad Rosenfeld to run its digital retail offerings. As executive vice president of digital retail commercialization, Rosenfeld will head up CarGurus’ “path to further developing and monetizing its digital […] [Read More]

Mainstream colors such as white, black, and silver, are popular among automotive consumers. But are those the best colors for helping a vehicle maintain its value? The answer is no, according to a new study from car search engine iSeeCars.com. Actually, more obscure colors tend to hold their value better than common and popular colors, […] [Read More]

The pandemic certainly reinforced the importance vehicles are to their owners, as Ally Financial highlighted in a consumer survey last fall. But while acknowledging the numbers are declining, CARFAX pointed out this week that millions of those vehicles are in operation with an open recall. CARFAX said its data shows the number of vehicles on the […] [Read More]

Quickride is a shuttle and concierge software that is meant to reduce how much time customers spend waiting at the dealership. Quickride Logistics produced the software, and two service directors founded the company. On Tuesday, the company said the software is now free for all U.S. and Canadian car dealerships to try. In about 15 […] [Read More]

Weltman, Weinberg & Reis Co. and DRN are joining forces for a free, two-part educational webinar in an effort to help the entire repossession and recovery industries prepare for what might be coming down the default pipeline this year. In the first session of this two-part, complimentary series, Weltman’s collateral recovery, compliance and collections team […] [Read More]

A Massachusetts man is scheduled to be sentenced on June 1 after being indicted by a federal grand jury in Providence, R.I., last summer for alleged participation in a wide-ranging conspiracy to defraud seven credit unions through a scheme involving used-vehicle financing. According to a news release from the Justice Department, Hiancarlos Mosquea-Ramos of Lawrence, […] [Read More]