KAR Global chief economist Tom Kontos returned to the Auto Remarketing Podcast to discuss how much off-rental units might impact wholesale volume and pricing as turbulent 2020 continues. Kontos also touched on other factors that he and his team are watching that could influence both the wholesale and retail markets going forward. To listen to this […] [Read More]

Steve Jordan, the longtime chief executive of the National Independent Automobile Dealers Association, is joining KAR Global next month as its executive vice president of dealer sales. KAR made the announcement Monday morning. Jordan has been with NIADA for 11 years and its CEO for the past seven. NIADA announced Friday that Jordan had resigned […] [Read More]

It was another record for the Manheim Used Vehicle Value Index. This metric measuring wholesale used-car prices has now hit all-time highs for two straight months, as a near 6% sequential lift in wholesale values pushed the index to 158.0, according to parent company Cox Automotive. That reading beats year-ago figures by 12.5% and is […] [Read More]

Our friends from Black Book join us for this episode of the Auto Remarketing Podcast. We talk with Susan Moritz, Alex Yurchenko and Laura Wehunt about the ebb-and-flow of the retail and wholesale used-car markets, the COVID-19 impacts on the ancillary services piece of the industry and current projects at Black Book. To listen to this […] [Read More]

This episode of the Auto Remarketing Podcast features Wayne Miller, executive director of The Venture Center, which collaborates with the FIS Fintech Accelerator program to identify and help startup firms accelerate the development of innovative solutions that bring new capabilities to the financial-services community. Miller explained why this fintech research and development initiative is even more crucial […] [Read More]

While some “details were generally encouraging,” experts are continuing to project that it will take some time before dealerships and finance companies see the amount of gainfully employed workers making vehicle purchases as they did back in February. Those experts dissected the July jobs data from the U.S. Department of Labor, which reported on Friday […] [Read More]

National Automotive Experts and NWAN (NAE/NWAN) finalized a partnership with Ultimar this week. The companies explained the partnership allows NAE/NWAN to provide direct manufacturer access to Ultimar’s interior and exterior surface protection product technologies. NAE/NWAN said Ultimar and the entire Granitize line of products are known throughout the chemical industry for their high-performance appearance protection […] [Read More]

Fintech and automated loss mitigation provider Constant rolled out an enhancement to its solution aimed at helping finance companies limit delinquencies and charge-offs as they navigate through modifications offered because of the coronavirus pandemic. The company launched AutoCare, a module on its cloud-native Software as a Service platform intended to fend off delinquency and prevent […] [Read More]

J.D. Power’s analytical horsepower is about to get much stronger. Late Thursday afternoon, TrueCar announced that it has entered into an agreement with J.D. Power to sell its ALG subsidiary for $135 million. According to TrueCar’s news release, the total consideration includes an upfront cash payment of $112.5 million at closing and total deferred payments […] [Read More]

The recovery in pre-owned sales continued in July, with Cox Automotive’s 13-month rolling used-vehicle SAAR climbing from 36 million in June to 38 million last month. The company estimates in a Data Point report released Thursday that there was a 4% year-over-year decline in used-vehicle sales for July and that the month’s SAAR fell from […] [Read More]