Frank Hackett will retire from his position as chief executive officer of the National Auto Auction Association — in July, most likely — capping a 17-year run leading the trade organization. NAAA has hired executive search firm SpencerStuart, which began the process of finding a new CEO for the association about eight weeks ago, Hackett […] [Read More]

A new product called the autoniq Retail Index provides dealers with live retail listing data within a 150-mile radius. The data includes average sale price, mileage and days on lot for vehicles of a specific year, make, model and trim. autoniq is a business unit of KAR Global. With the new product, available by subscription […] [Read More]

Soon after he was named the incoming chief executive officer of APCO Holdings, Scot Eisenfelder joined the Auto Remarketing Podcast to share how his previous professional stops at places such as AutoNation and Reynolds and Reynolds prepared him for the position, a role he will assume on May 1. Eisenfelder also discussed pandemic impacts on F&I […] [Read More]

The American Recovery Association is hosting a free webinar focused on recovery litigation. Patrick Newman and Tal Bakke of Bassford Remele intend to delve into several topics, including consumer notice and waiver issues as well as contractual provisions to consider in working with servicers and forwarders. The legal experts also plan to mention concerns about […] [Read More]

A new partnership between the American International Automobile Dealers Association and Dell Technologies aims to help AIADA members upgrade and improve their technology. Dell Technologies has joined with AIADA as an affinity partner, giving AIADA members discounts of 5% to 10% on purchases of Dell products. Those discounts are stackable with additional Dell promotions. That […] [Read More]

The exciting part of tax season is retailing vehicles and filling the portfolio of paper to generate payments for many months to come. The complicated part of tax season is making sure your business made all of its necessary filings and payments to fill state and federal tax collectors. In an effort to understand the […] [Read More]

For buy-here, pay-here operators and other independent dealerships that haven’t gotten or used federal resources to aid their businesses, they now have more time to complete applications and secure funding. Earlier this week, President Joe Biden signed the PPP Extension Act of 2021, extending the Paycheck Protection Program an additional two months to May 31. […] [Read More]

Within hours of it being announced that CarMax was poised to acquire full ownership of the firm, Edmunds shared its first-quarter used-vehicle financing data, highlighting increases in both average down payments and total amount financed. Edmunds reported that the average down payment for a used vehicle financed during Q1 came in at $23,958 with the […] [Read More]

The new-car production logjam is impacting Canada’s used-car market, too. Canadian Black Book said in an analysis Tuesday that wholesale vehicle prices last week hit record weekly gains for both car and truck segments. The overall market was up 0.58% week-over-week, compared to the prior week’s gain of 0.43% and the 2017-2019 average hike (for […] [Read More]

After purchasing a minority stake in the company in early 2020, CarMax said Thursday it will acquire the remaining shares of Edmunds. The retailer invested $50 million in the online car shopping guide in January 2020, acquiring a minority stake. The deal for CarMax to acquire full ownership of Edmunds is expected to close in […] [Read More]