KAR Global chief executive officer Jim Hallett did not mince words Tuesday when sharing his concerns about the return of in-person auto auction sales with cars running through lanes, urging the industry to take greater responsibility for safety amid COVID-19. During a sponsored episode of the Auto Remarketing Podcast, Hallett began by expressing his concern […] [Read More]

The Financial Data Exchange (FDX) is closing the year with its latest release that includes a myriad of technical standards and updates to the existing specification that have now been launched into the financial services marketplace. “FDX’s fall release is another milestone and proof point of how FDX continues to deliver on its promise to […] [Read More]

FICO learned of two upbeat developments this week. First, FICO was named a leader by Forrester Research because the firm “leaves no decisioning stone unturned.” Then, FICO said it received official notification from the U.S. Department of Justice, Antitrust Division, regarding a matter that surfaced in the spring when the pandemic began to take hold. […] [Read More]

This week, TCN made what it called a “substantial donation” to the Utah Food Bank on behalf of their clients that use its cloud-based call center technology for contact centers and collection agencies. Since COVID-19 has had a significant impact, TCN said it felt the need to help this holiday season by donating funds to […] [Read More]

The Ohio Automobile Dealers Association looked to modernize how title work can be completed to help its members navigate market challenges and customer expectations. And OADA turned to Dealertrack for a solution. This week, OADA gave an exclusive endorsement to Dealertrack Registration and Title Solutions to assist Ohio’s more than 820 franchised dealers by providing […] [Read More]

If you think vehicle prices are high in 2020, just wait ‘til next year. According to the 2020 Vehicle Depreciation Trends Report released by Motus last month, 2021 is likely to see depreciation rates slow between 1% and 3% throughout the year, assuming current trend lines remain in play. As you might expect, the current […] [Read More]

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]