AutoNation Toyota Tempe general manager Neil Underwood says AutoNation is proud to support the work of Phoenix Children’s Hospital. “We were honored to be the Pace Car Sponsor of the Virtual 5K and help the hospital raise more than $162,000,” said Underwood said in a news release. On Monday, AutoNation provided additional support for the […] [Read More]

Independent dealers who use ACV Auctions to acquire inventory now have another option for their floor planning. On Tuesday, First Business — which just launched its floorplan service in June — announced a new agreement to offer floorplan financing through ACV. The company highlighted that the partnership can allow independent dealers who have earned competitive pricing […] [Read More]

To commemorate its second anniversary, Mid Kansas Auto Auction offered nearly 700 vehicles at a promotional event in November, and more than 60% sold. That was an all-time record for the auction, said MKSAA owner/general manager Trevor Ottley, noting that the event showed attendance of more than 474 registered dealers in lane and online. The […] [Read More]

Automotive ecommerce provider Modal announced a $15 million round of Series A financing Tuesday led by American Honda, which has been working with the company the past two years to build branded online-buying tools for its Honda and Acura brands. Prior investors also participated in the round, Modal said. “Our new financing will allow us to […] [Read More]

Dealers using the Manheim Express Concierge service can now run Concierge-inspected vehicles located on the dealer lot in a live, auctioneer-led Simulcast sale. Manheim said the service works well for dealers who would like to wholesale their inventory right from their lots. The company makes the announcement at a time when its Simulcast audience has […] [Read More]

Along with sharing the previous week’s value movements, Black Book used its newest COVID-19 Market Insights report to delve deeper into projections going into the new year, using the latest wholesale trends and anecdotes from dealers to shape its expectations. Perhaps of highest importance to used-car managers, analysts are seeing both wholesale volume and retail […] [Read More]

A company that says it’s reshaping asset management using machine learning and big data analytics to manage institutional money now is getting involved with auto financing, too, by leveraging a relationship with a provider that specializes in the subprime market. On Tuesday, Pagaya publicly announced the expansion of its consumer credit offering into auto financing, […] [Read More]

Bob Voltmann participated in this episode of the Auto Remarketing Podcast during one of his first public appearances since becoming chief executive officer of the National Independent Automobile Dealers Association in late October. Voltmann shared with Cherokee Media Group senior editor Nick Zulovich the appeal of taking on the position as well as what he […] [Read More]

Ken Robinson, who is market research manager at Motus, joins the show to discuss his company's 2020 Vehicle Depreciation Trends Report. Ken and Auto Remarketing senior editor Joe Overby discuss used-car pricing and supply dynamics, vehicle affordability, segment preferences and vehicle demand trends. To listen to the entire conversation, click on the link available below, or […] [Read More]

Retail automotive technology company CDK Global has named David Hahn as chief information security officer. Hahn in his new role is responsible for development of a global strategy and execution of the roadmap for managing technology risk and information security across the company’s IT, product engineering, and research and development departments. He will also be […] [Read More]