The National Auto Auction Association named its two newest Warren Young Fellows on Friday; an honor that recognizes their noteworthy contributions to NAAA's auction safety initiatives. The latest two wholesale executives to be given this accolade are Tim Massingale, KAR remarketing services vice president of environmental safety and health, and Mike Roy, vice president of […] [Read More]

Dealerware is set to launch a new contactless contracting feature on Wednesday as customers will receive the new feature via a software update to Dealerware’s Mobile Contracts product. With contactless contracting, the connected car platform provider explained that dealerships can send loaner vehicle agreements to customers via text message. Customers can review the terms of […] [Read More]

If consumers aren’t securing a lease from a franchised dealership as much because of the coronavirus pandemic, they might be using alternatives to land a vehicle lease, based on the newest information from Experian and Swapalease.com. Experian’s latest State of the Automotive Finance Market Report showed a decrease in leasing year-over-year, with 24% of new […] [Read More]

PAR North America launched centralized title warehousing and electronic title processing services that the business unit KAR Global said is in compliance with all state regulatory requirements. PAR explained its title services can save customers additional staffing and storage costs and provide confidence that needs are met in a timely, efficient and compliant manner. “At […] [Read More]

Representatives from the American Financial Services Association, the American Recovery Association, the National Automotive Finance Association, and the National Independent Automobile Dealers Association let out of collective exhale of relief after what they each described as a significantly damaging piece of potential regulation stalled in the California state legislature. On Thursday, AFSA, ARA, NIADA and the NAF […] [Read More]

Today's episode of the Auto Remarketing Podcast features Chris Little, who is vice president of variable operations and a market area VP at Hendrick Automotive Group. Little and Cherokee Media Group president Bill Zadeits discuss the automotive market rebound, how Hendrick weathered COVID-19 challenges and bright spots that have emerged. Little also talks about Hendrick's emphasis […] [Read More]

Less than a week after enhancing its presence in five markets, IAA on Wednesday announced branch capacity expansions across four more key markets in Florida, New York, Alabama and Montana. IAA highlighted these expansions increase inventory storage capacity in total acres by more than 50% across the four branches in the markets of Miami (Florida), […] [Read More]

The Canadian Black Book Wholesale Used Vehicle Retention Index, which covers vehicles 2 to 6 years old, was down 5.0% year-over-year in May and fell 3.1% month-over-month, according to an update from the company this week. The index’s reading was at 100.5 in May. In the last three months, it has dropped 7.8 points since […] [Read More]

The Consumer Financial Protection Bureau was on the receiving end of two separate actions this week aimed at dramatically changing how the agency operates. First, a collection of consumer advocate groups is suing the CFPB and director Kathleen Kraninger for unlawfully creating and operating the taskforce on federal consumer financial law in violation of the […] [Read More]

Michael Bor, chief executive officer of CarLotz, joins the Auto Remarketing Podcast, where he provides an update on the company and how its stores and operations have adjusted to the pandemic, as well has how they have begun to recover. Plus, Bor discusses the online car-buying option from CarLotz, its work with commercial consignors, the gap […] [Read More]