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Wholesale values continued to fall last week, although cars fared better than trucks, according to Black Book. The firm reported that the wholesale value for the overall car segment decreased by 0.57% from the week prior, while the truck segment declined 0.58%.
Read More →Fueled by more than $460 million in additional funding, online pre-owned retailer Carvana is expanding into Cincinnati, the company announced today.
Read More →The retail sales finance company, Security National Automotive Acceptance Company, LLC (SNAAC), will be celebrating 30 years in business later this month, according to a company announcement.
Read More →On Tuesday, a federal appeals court ruled that the structure of the Consumer Financial Protection Bureau is unconstitutional. The appellant court’s main issue is the bureau’s single-director structure.
Read More →The perception that millennials are content with a carless, ride-hailing life may not be true after all, at least according to new data from Dealertrack.
Read More →DRIVIN announced the launch of DRIVIN Marketplace, where dealers can list and remarket unwanted inventory to their established network of dealers. The service will then match and recommend the listed inventory to more than 1,000 open vehicle searches from dealers across the country, according to the company.
Read More →Cox Automotive named Joe George senior vice president of Manheim Vehicle Solutions. He will responsible for strategy to execution, driving the wholesale and retail solutions long-term plan related to reconditioning, imaging purchase protection and inspections.
Read More →Under the new law, used-car dealers who sold fewer than 50 cars in the previous calendar year will be required to purchase a $20,000 surety bond. Dealers who sold more than 50 cars will be required to purchase a $100,000 bond. Additionally, new dealer license applicants will need to post the $20,000 surety bond.
Read More →Nearly across the board, the retention rates of model-year 2013 vehicles were down this year compared to the same time last year, according to the most recent NADA Used Car Guide Perspective report.
Read More →Reynolds and Reynolds has completed its acquisition of Wolters Kluwer’s indirect loan origination solutions for around $36 million in cash. As part of the acquisition, Reynolds gets Wolters Kluwer’s AppOne software, risk mitigation services and bankers systems.
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