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February 21, 2017 - Industry News

CarMax Opens West Coast Reconditioning Hub

Photo via Flickr.

CarMax has opened a store in Murrieta, Calif., that will include a four-lane auction and serve as the West Coast reconditioning hub for the nation's largest retailer of used cars.

Tags: Auctions, CARMAX, Dealers, reconditioning

February 21, 2017 - Industry News

DealersLink Offers Tips on Getting Cars to the Digital Frontline

Aside from the tips, the firm announced the release of a free ebook titled, ‘Six Steps for Dealers to Get Their Cars to the Digital Front Line.’

Tags: Auto Auctions, DealersLink, reconditioning, remarketing, used-vehicle sales

February 16, 2017 - Industry News

Used-Vehicle Market Bracing for Off-Lease Tidal Wave

While low interest rates and consistent values are making it possible for the market to absorb the wave of newer, more expensive off-lease vehicles, demand for older, less expensive vehicles hasn't waned. But with fewer older vehicles available, sellers will be at a disadvantage, Edmunds said this week.

Tags: Edmunds, Inventory Management, Off-Lease Vehicles, used-vehicle values

February 15, 2017 - Industry News

Bankruptcies Register First Consecutive Monthly YOY Increases Since 2010

While bankruptcies plunged last year to their lowest levels since the implementation of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2015, filings are beginning to climb, according to the American Bankruptcy Institute.

Tags: American Bankruptcy Institute, bankruptcies, buy-here, pay-here, special finance

February 13, 2017 - Industry News

Exeter Names New CFO

The subprime finance source announced the promotion of Brad Nall to CFO. The more than 25-year veteran of the consumer finance industry has held various senior roles since joining the company in July 2012.

February 7, 2017 - Industry News

Manheim: Wholesale Prices Slipped in January

Manheim's Tom Webb believes the 0.3% year-over-year decrease could have been much worse considering the "sharply rising" supply of used units.

Tags: Manheim, Manheim Used Vehicle Report, Tom Webb, used-vehicle values, Wholesale Pricing

February 2, 2017 - Industry News

Last Chance: Podium to Present Webinar on Online Review Management

Register to learn about how online reviews can enhance your online reputation, get you noticed on top sites, and drive customer purchase decisions.

Tags: Dealerrater, Edmunds, Google, online reputation management, online reviews, Podium, Yelp

February 1, 2017 - Industry News

Black Book: Weekly Used Luxury Car Prices Tumble

While the truck segment realized its best week in terms of vehicle depreciation last week, values for used luxury cars tumbled, according to Black Book’s Jan. 31 Market Insights Report.

Tags: Black Book, used-vehicle values, wholesale values

January 31, 2017 - Industry News

Two ProMax Execs Become Owners

ProMax Unlimited CTO Darian Miller and COO Shane Born acquired minority ownership stakes in the software company.

January 30, 2017 - Industry News

The Work Number Connects With Digital Matrix Systems

Digital Matrix Systems has added Equifax Workforce Solutions' income and employment verification service.

January 19, 2017 - Industry News

Rapid Recon to Launch ‘Group Reporting’ at NADA

The workflow and reconditioning software and process provider's new offering is designed to compile and index in graphical dashboard format the monthly performance metrics of multi-rooftop operations, providing clarity into the challenges — and potential performance gains — realized by individual dealerships.

Tags: Dennis McGinn, NADA Convention and Expo, Rapid Recon, reconditioning

January 19, 2017 - Industry News

Compliance Summit Returns to Texas in September

Held alongside Industry Summit for the second consecutive year, Compliance Summit will include one full day of compliance education for dealers, managers, and sales and F&I professionals. An onsite certification courtesy of Automotive Compliance Education (ACE) will be available to all attendees the following day.

Tags: auto finance, Best Training Day Ever, compliance, Compliance Summit, F&I training, Industry Summit

January 18, 2017 - Industry News

Compact Cars Continue to Show Strength

For model years 2008-2014, compact cars realized a wholesale value decline of 0.11% — the lowest level among all small cars. Alternatively, prestige luxury cars and subcompact cars realized the highest wholesale-value declines, with depreciation of 0.69% and 0.64%, respectively.

Tags: Black Book, CPO, small cars, used-vehicle sales, vehicle depreciation, Wholesale Pricing

January 18, 2017 - Industry News

Kontos: December Wholesale Prices Fall, Up 3.9% YOY

Wholesale used-vehicle prices in December averaged $10,642, which was essentially flat with the prior month but up 3.9% from a year ago, according to ADESA Analytical Services.

Tags: ADESA, Kar Auction Services, Tom Kontos, used-vehicle values, Wholesale Pricing

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

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