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January 11, 2017 - Industry News

Pearl Combines Equity Mining Tool With 'Buy Direct From Consumer' Platform

The integration will allow dealers to search for vehicles they wish to purchase directly from consumers by year, make, model and trim, according to the company.

Tags: Equity, Marketing, Pearl Technology, Technology

January 10, 2017 - Industry News

Black Book: Smaller Cars Back in Demand

Small cars (model-year 2008-2014) are making a comeback to open the year, and Black Book believes the segment could be in for a good spring.

Tags: Black Book, vehicle depreciation, Wholesale Pricing

January 9, 2017 - Industry News

Credit Acceptance's Founder Announces Retirement

Donald Foss, the subprime finance source's founder and chairman, has decided to retire, the company announced on Jan. 4. The company stated in its announcement that it does not plan to fill the role of chairman. In Foss' absence, Thomas Tryforos will lead the board of directors.

Tags: Board of Directors, Credit Acceptance Corp., Retirement

January 9, 2017 - Industry News

NIADA Member Services Creates New Partnership Program

NIADA Member Services has created a new partnership program designed to offer members a wider array of companies whose products and services they can trust, according to an association announcement.

Tags: Independent Dealerships, NIADA, Partnership

January 9, 2017 - Industry News

Wholesale Used-Vehicle Prices Increase in December, Manheim Reports

Wholesale used-vehicle prices on a mix-, mileage-, and seasonally adjusted basis increased by 0.2% in December, according to Manheim. Compared to December 2015, the Manheim Used Vehicle Value Index declined 0.6% to 124.9.

Tags: Manheim, Useve Vehicles, Wholesale, Wholesale Pricing

January 4, 2017 - Industry News

Black Book: Used-Car Prices Stabilize in December

Depreciation trends stabilized to close out 2016, with depreciation rates for all cars and trucks falling into seasonal patterns, Black Book reported this week.

Tags: Black Book, Cars, Depreciation, Trucks, Used Vehicles

December 20, 2016 - Industry News

Autobytel to Sell Specialty Finance Leads Product to Internet Brands

Per the agreement, the SFL product will be sold for $3.2 million in cash, as well as additional transition licensing income that will total $1.6 million over a five-year period.

Tags: Autobytel, Definitive Agreement, Internet Brands Inc., Transaction

December 19, 2016 - Industry News

AutoBase Customers to Gain Access to Flick Fusion's Video Marketing Platform

Flick Fusion has announced a partnership with AutoBase that will allow users of the company's inventory merchandising solutions to create and distribute inventory videos, personalized walkaround videos, dealership value proposition videos, customer testimonial videos and more.

Tags: AutoBase, Flick Fusion, Smart Flicks, Video Marketing

December 15, 2016 - Industry News

Subprime Car Buyers to Feel Fed's Rate Hike, Analyst Says

For the second time in 10 years, the Federal Reserve's Federal Open Market Committee unanimously voted to raise the federal interest rate on Dec. 14. The impact of the rate hike should be minimal for all but one consumer segment, a Black Book analyst says.

Tags: Federal Interest Rate, Government, Interest Rates

December 15, 2016 - Industry News

NADAUCG: Wholesale Prices Fall More Than Expected in November

Wholesale prices for vehicles up to eight years in age depreciated more than expected last month, falling 3.3% on a monthly basis. That’s more than double the 1.4% average drop recorded during November the past three years, according to the NADA Used Car Guide.

December 8, 2016 - Industry News

Manheim Promotes Four General Managers From Within

Trevor Enge

Trever Enge, John Duplanty, Gus Jones and Maxine Vega will lead the Manheim Georgia, Manheim Tucson, Manheim Arizona and Manheim New Mexico locations, respectively, the company announced this week.

Tags: Auto Auctions, Manheim, Promotion

December 7, 2016 - Industry News

Channel Stuffing, Incentives Responsible for Slip in Manheim Index

Wholesale used vehicle prices on a mix-, mileage-, and seasonally adjusted basis declined 1% in November, according to Manheim’s Used Vehicle Value Index report. Due to this decline, the Manheim Used Vehicle Value Index fell 0.3% from a year ago to 124.7.

Tags: Manheim, Used Vehicle Value Index, Used Vehicles, Wholesale Pricing

December 6, 2016 - Industry News

Black Book: Trucks Depreciating More Than Cars

The pendulum finally swung last week, with trucks showing higher depreciation than cars for the first time this year, according to Black Book.

Tags: Black Book, used-vehicle values, Value Retention, vehicle depreciation, wholesale values

December 5, 2016 - Industry News

DealerSocket Announces Integration With FetchAQuote.com

Through this integration, customers at independent dealers will be able to look through different car insurance options, secure a quote they like and purchase the coverage on the spot, the company stated.

Tags: DealerSocket, DMS, FetchAQuote, Independent Dealerships

December 5, 2016 - Industry News

Rapid Recon Salutes 100 Years of NADA and Vehicle Reconditioning

By the time the NADA was founded in 1917, the sufficiency of units in operation meant a growing opportunity for used-vehicle sales. According to 1917 motor vehicle registrations, as compiled by the U.S. Bureau of Public Roads, nearly five million cars and trucks were registered. And by late 1916, creative rebuilders were putting old cars, now “reconditioned,” back on the road.

Tags: National Automobile Dealers Association, Rapid Recon, Remarketing, Used-Vehicle Sales, Used-Vehicles

November 29, 2016 - Industry News

Black Book: Used-Vehicle Depreciation Continues Slowdown

For the car segment, wholesale values decreased by 0.56% last week, an improvement over the 0.62% decrease the segment realized the week before. On the truck front, wholesale values decreased by 0.31%, less than the prior week’s depreciation rate of 0.59%.

Tags: Black Book, Depreciation, Used Vehicles, Wholesale Pricing

November 17, 2016 - Industry News

NextGear Capital Presents Fourth Annual Auction Partners Awards

NextGear Capital presented its fourth annual Auction Partners Awards Wednesday at the Red Rock Casino and Resort in Las Vegas, the site of the 2016 National Automobile Auction Association (NAAA) Convention.

Tags: Auto Auctions, Awards, NextGear Capital

November 16, 2016 - Industry News

NADAUCG: Wholesale Depreciation Remains Steady in October

October’s 3.6% decline in wholesale prices for used vehicles eight years in age was in line with the NADA Used Car Guide’s forecasted range of 3.2% to 3.7%. However, the decline was slightly more than this October than the previous three-year average decline of 3.3% for the period.

Tags: NADA Used Car Guide, used-vehicle values, Wholesale Pricing, wholesale used average

November 16, 2016 - Industry News

Kontos: Wholesale Prices Up Year Over Year, Down From September

As has been the case for much of the year, average wholesale used-car prices were down on a year-over-year basis. In October, the average wholesale used-vehicle price fell by 1.2% compared to the year before. Trucks, on the other hand, continued to realize year-over-year increases in wholesale prices. Compared to last year, truck prices are up 5.1%.

Tags: ADESA, ADESA Analytical Services, Tom Kontos, Used Vehicles, Wholesale Pricing

November 16, 2016 - Industry News

LotPop Announces Release of LotScore

According to the company, the weekly report will score a dealer’s inventory in four key areas: status, marketing, inventory stocking, and inventory return on investment. The end goal, the company added, is to help drive more used-car sales at higher margins.

Tags: Dealer Inventory, LotPop, LotScore, Used Vehicles

November 15, 2016 - Industry News

ADESA Acquires Michigan's Flint Auto Auction

KAR Auction Services today announced it has acquired Flint Auto Auction, a whole car auction facility in Flint, Mich. It will now operate as ADESA Flint.

Tags: ADESA, Auto Auction, KAR Auction Services

November 14, 2016 - Industry News

ADESA Kansas City Gets New General Manager

ADESA has promoted Kevin Rhoads, a 15-year veteran of the automotive industry, to general manager of its Kansas City auction location, the company announced this week.

Tags: ADESA, Auto Auctions, General Manager, Hiring

November 14, 2016 - Industry News

KAR Launches New Enterprise Functions to 'Accelerate Innovation' for Wholesale Industry

KAR Auction Services Inc. announced the creation of new enterprise functions and leadership roles in product development, data analytics and strategy. The company has both promoted from within and recruited from outside sources to fill these new positions.

Tags: ADESA, Hiring, KAR Auction Services, Promotions

November 10, 2016 - Industry News

ACV Auctions' New Hire to Help Grow Mobile-Enabled Live Auctions

ACV Auctions named Michael Waterman vice president of sales. He will be charged with helping the company grow its mobile-enabled live auctions.

Tags: ACV Auctions, Auto Auctions, Mobile Applications, Vice President

November 10, 2016 - Industry News

FTC Approves Final Changes to Used Car Rule

The Federal Trade Commission announced last week final amendments to its Used Car Rule. It noted that its amended rule permits dealers to use their remaining stock of Buyers Guides for one year after the effective date of the amended rule.

Tags: Buyers Guide, FTC, Used Car Rule

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