Perhaps the wholesale industry just ran out of collective gas during the second half of December after it already had experienced so many unprecedented challenges during a year no one is likely to forget. Black Book said the last two weeks of 2020 “were fairly quiet on the auction lanes,” as analysts not only shared […] [Read More]

Carketa closed a $1.375 million seed round financing in September, and the Utah-based software company finished 2020 by launching an addition to its suite of dealer products. The company announced the addition of the Carketa Digital Condition Report to its suite of valuation, connect and reconditioning applications creating an “Acquisition to Sell” ecosystem. With these […] [Read More]

United Road has launched an initiative to recognize and reward high-performing third-party carriers in its network of independent carriers. It is called the Haully Pro Carrier Rewards Program, and United Road said the program helps support its carriers’ independent businesses, build loyalty and improve quality. Benefits of Haully Pro include quarterly rebate bonuses, dedicated concierge […] [Read More]

Dealers have an underleveraged opportunity to impact customer loyalty and satisfaction, as well as their own bottom lines. How can they take advantage of the opportunity? By integrating insurance into the sales process. According to a new study from insurance marketplace DealerPolicy, which surveyed 300 dealership executives and 1,000 consumers who purchased a vehicle in the […] [Read More]

Black Book has named former RVI Group and GM Financial executive Rene Abdalah as its new senior vice president of business development. In the newly created position, Abdalah will work with U.S. and Canadian vehicle manufacturers, captive finance companies, lenders and other automotive-related companies to deliver data and analytical services. Jared Kalfus, Black Book executive vice president, revenue, […] [Read More]

NADA Show 2021 is going virtual. The National Automobile Dealers Association is holding its annual convention and expo online from Feb. 9 through Feb. 11. When the move to digital was announced in October, NADA said in the release that among the features of the digital convention will be more than 60 educational workshops and […] [Read More]

America’s Car-Mart made a pair of moves before 2020 finished as the chain of buy-here pay-here dealerships expanded its footprint in Oklahoma while also increasing its revolving line of credit. Car-Mart now has 151 dealerships in its network after bringing aboard its 28th dealership in Oklahoma, which also is the third location to open during […] [Read More]

PassTime GPS recently formed a strategic partnership with Polte Corp., in an effort to reinforce its service so dealerships and finance companies can track the location of their collateral more effectively. Fueled by cloud location over cellular (C-LoC) technology, the companies are collaborating to incorporate Polte Mobile IoT location into PassTime’s line of Encore asset […] [Read More]

A merger Financial Services Group first revealed in October now is closed, according to an announcement on Tuesday. First Investors said the acquisition of the subprime auto finance company by funds affiliated with Gallatin Point Capital and minority investor Jacobs Asset Management closed on Thursday, following receipt of all required consents and regulatory approvals. Terms […] [Read More]

After surveying thousands of Canadians, we found that the biggest pain points customers have when buying used cars is that they don’t know if the vehicle is in good shape. Purchasing a car is one of the biggest decisions in a person’s life, so they want to be sure that they know the vehicle’s story […] [Read More]