Point Predictive chief fraud strategist Frank McKenna made his first appearance on the Auto Remarketing Podcast since this spring’s Automotive Intelligence Summit to discuss fraud trends that have surfaced recently. McKenna also gauged the current mood of finance companies; whether they feel they’re making strides in the fight against fraud or if they’re as frustrated […] [Read More]

The prognosis for the economy, finance companies and investors continues to be mixed since experts and policymakers keep pointing toward a factor that has shown to be incredibly difficult to control. Cox Automotive, the Federal Reserve, the National Association of Federally-Insured Credit Unions and S&P Global Ratings all have chimed in on the current landscape […] [Read More]

DealerPeak, whose goal is to bring "joy back into the process" of buying and selling a car, is partnering with Dealer Wizard to help stores adapt to used-car inventory shortages.  The new partnership is designed to help dealer groups share to-the-penny offers with customers to increase inventory and monthly service and sales revenue.  "In today’s difficult environment […] [Read More]

Third-party logisitcs brokerage Montway Auto Transport has hired two new c-level executives this week. Chosen as the company's new chief operating officer is Kaye Ceille, while Alberto Anguiano has been named its new chief financial officer.  These moves are designed to help continue future development and growth, Montway said. Ceille brings over 25 years of experience within the transportation and travel […] [Read More]

Consumers in the Boise, Idaho area reho were curious about the Carvana towers and/or hard-to-miss delivery trucks now have the option to check out the used auto retailer for themseves. Carvana announced Wednesday that it has launched in Boise, its 308th urban market.  Customers can secure as-soon-as-next-day-delivery, or they can sell their current vehicle to Carvana, […] [Read More]

FordDirect, which is a joint venture between the automaker and its franchised dealers, has partnered with compliance tech company ComplyAuto to help address  the complex regulatory compliance issues dealerships face. And ComplyAuto is no stranger to the privacy, security and other regulatory compliance concerns of auto retail stores. In fact, the company — a compliance and […] [Read More]

Asbury Automotive Group has agreed to buy Larry H. Miller Dealerships and Total Care Auto from the Larry H. Miller Group of Companies, the retailer announced Wednesday. The acquisition — which has a $3.2 billion aggregate purchase price that includes roughly $740 million in real estate — would bring one of the country's largest dealership […] [Read More]

Cox Automotive confirmed in a statement Tuesday that it is moving its Canadian reporting structure into its U.S. operations as part of plans to “simplify its structure for local and global customers.” Maria Soklis, who is president for Cox Automotive Canada & Brazil, has chosen to leave the company at the end of next month and […] [Read More]

Private equity firm Brightstar Capital Partners said Tuesday it has completed its acquisition of XLerate Group, a deal initially announced Sept. 2. Brightstar is now the majority owner of the auto auction and remarketing facilitation company. “The XLerate team’s industry knowledge and operational expertise impressed us as we spent time at their auction sites around […] [Read More]

As a used-car manager, perhaps you might be thinking, “Well, if I’m going to have to spend this much on inventory, at least those cars will turn fast.” But as ESPN college football broadcaster Lee Corso says, “Not so fast, my friend!” [Read More]