DealerSocket said it reached another milestone in what the SaaS provider described as its “clicks-to-bricks experience” for dealers. On Monday, DealerSocket released its next-generation desking solution. Sporting more intuitive, easy-to-navigate workflows designed to prevent errors and reduce time to first pencil, DealerSocket highlighted the all-new desking tool comes equipped with a robust calculations engine, flexible […] [Read More]

At least initially, federal government intervention to help individuals and business hit financially by the coronavirus pandemic have made a positive impact in terms of bankruptcy filings. But experts suspect conditions will deteriorate in this part of the financial world as those assistance packages expire. According to data provided by Epiq, the American Bankruptcy Institute […] [Read More]

Used-vehicle retail sales have struggled in the first half of the year, amid challenges from the COVID-19 pandemic. But bright spots have emerged, including what looks to be strengthening franchised dealer used-car sales in the first half of June, as of press time for this publication. Just consider these data points from KAR Global’s interactive […] [Read More]

Auto auctions sold slightly fewer cars last year, but the gross value of those sales was up more than 3% and topped $111 billion, according to the National Auto Auction Association’s 23rd annual survey, which was released Friday. NAAA-member auctions sold 9.8 million vehicles in 2019, which was down 1.1% year-over-year.  But the total value […] [Read More]

After strong improvements in May, look for a gradual rebound in auction prices during the back half of 2020, says J.D. Power Valuation Services, which released its monthly Guidelines Plus report on the used market on Thursday. The J.D. Power Used Vehicle Price Index was at 113.2 for May, up 8.3% month-over-month. “Wholesale auction prices […] [Read More]

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]