KAR Global said Thursday it has completed its purchase of BacklotCars, a $425 million deal first announced in September. In a news release, KAR said the acquisition “supplements” its existing crop of digital marketplaces like TradeRev, ADESA.com and OPENLANE, while also growing KAR’s presence in key markets and “anchoring continued expansion into new geographies to […] [Read More]

In this episode of the Auto Remarketing Podcast, we catch up with Alejandro Cabrera and Mauricio Cuevas, co-founders of Uproar.car, a tech startup aiming to disintermediate the auto warranty market through online subscriptions. The business partners, who met while working at Microsoft, explain how the service works, the growth of digital solutions in the ancillary […] [Read More]

After being with the finance company for the past seven years, Marc Womack now is president and chief executive officer of TD Auto Finance. According to a news release from TD Bank distributed on Thursday, Womack will oversee the expansion of TD Auto Finance in the U.S. market and drive integration between TD Auto Finance […] [Read More]

Another executive from the National Independent Automobile Dealers Association has taken a role with a service provider for buy-here, pay-here operators. Buckeye Dealership Consulting, which offers re-insurable products and other solutions for dealerships, announced this week that Shaun Petersen has been named the company’s executive vice president and chief legal officer in a move that […] [Read More]

PassTime is leveraging the capability of connected vehicles in an effort to serve its clients better. This week, the provider of vehicle GPS solutions launched its OASIS v2 IoT platform, which utilizes telematics data from millions of connected vehicles to give its customers the visibility they need to make better, safer and smarter business decisions. […] [Read More]

Perhaps it’s a question you asked a dealership manager or store colleague this summer when used-vehicle values were as hot as the outside temperature. “Can you believe what we had to give on that trade?” Well, in what might be good news for dealers’ used departments, trade-in values are returning to normal levels after skyrocketing […] [Read More]

With a background in the banking, financial services, investment and medical industries, CDK Global welcomed its new chief information officer on Thursday. Taking on the role of CIO for the automotive retail technology company is Kirsten Garen who also will also be a member of CDK’s executive leadership team. In her role, the company said […] [Read More]

This week, Copart opened its sixth location in North Carolina, rolling out a facility in Lumberton consisting of 89 acres. The development represented the second Copart opening in the Tar Heel State. In March, the company unveiled a location in Concord. “We're happy to offer a new location in North Carolina for our buyers and […] [Read More]

The remarketing industry’s digital shift has presented dealers with new opportunities to streamline their business and increase their profits. But some dealers —maybe even you — still have concerns and are reluctant to embrace the shift. However, when you look at the in-lane experience versus the digital experience, they really aren’t that different. In a […] [Read More]

Uneven floors aren’t good for a house as far as its construction or current state. And uneven floors potentially are causing some issues for dealers at the auction, too, as mentioned in the latest COVID-19 Market Insights from Black Book. Black Book reported the continued seasonal decline in values for both cars and trucks, while […] [Read More]