January 2021

Growth results in new McConkey leadership moves

SPOKANE, Wash. –  McConkey Auction Group has named several leaders who will serve in new management positions, and the company also announced some promotions. Aaron McConkey is one of those leaders, and the auction group has appointed McConkey to serve as vice president of strategic technology. McConkey Auction Group, or MAG, said that McConkey has served as Auction Edge’s product director for the past eight years and offers expertise in leading teams that create user-centric software products. The auction group said his expertise is important as the group focuses on personalized… Read More »Growth results in new McConkey leadership moves

GM sets agenda for departing internal combustion engine world

DETROIT –  While it likely will be some time before the decision significantly impacts your dealership’s used-vehicle industry, General Motors put a timeline on when it wants to depart from the business of manufacturing vehicles that run on gasoline or diesel fuel. On Thursday, GM announced that it is looking to eliminate tailpipe emissions from new light-duty vehicles by 2035 along with the intention to become carbon neutral in its global products and operations by 2040. “General Motors is joining governments and companies around the globe working to establish a safer,… Read More »GM sets agenda for departing internal combustion engine world

TransUnion: Financial accommodations for struggling contract holders remain elevated

CHICAGO –  While the number of accounts TransUnion classifies as being in some form of financial hardship status closed the year below a peak registered soon after the onset of the pandemic, the level remains notably elevated and isn’t softening at the pace analysts spotted earlier. According to TransUnion’s latest Financial Services Monthly Industry Snapshot Report released this week, analysts indicated approximately 2.87% of accounts in the auto, credit card, mortgage or unsecured personal loan industries remained in financial hardship status at the end of December. TransUnion pointed out the percentage… Read More »TransUnion: Financial accommodations for struggling contract holders remain elevated

Kinetic Advantage rolls out auditing platform, major growth plans

CARMEL, Ind. –  It’s been an active opening month of 2021 for Kinetic Advantage, a newly formed floorplan financing company with an eye on gaining market share among independent dealerships. After landing an undisclosed amount of funding through Altamont Capital Partners, Kinetic Advantage this week announced the launch of its new cloud-based auditing program as well as a major facility and workforce expansion plan aided by support from the state of Indiana and the city of Carmel. Beginning with the technology news, Kinetic Advantage said its new auditing platform is the… Read More »Kinetic Advantage rolls out auditing platform, major growth plans

Wholesale vehicle prices continue streak of declines

MARKHAM, Ontario –  Wholesale vehicle prices in both car and truck/SUV segment groups have now declined 15 straight weeks, with the drop in car prices a bit higher than seasonally expected last week and truck declines aligning with typical trend lines. That’s according to the COVID-19 Weekly Automotive Market Update that Canadian Black Book released Tuesday. “As the industry approaches the time of year when retailers will begin to stock up on product for the spring, it remains to be seen what impact pandemic-related uncertainty will have in the marketplace, and… Read More »Wholesale vehicle prices continue streak of declines

DDI to help Indiana dealers automate titling, registration

Wednesday, Jan. 27, 2021, 03:26 PM WESTCHESTER, Ill. –  Electronic vehicle title and registration technology firm DDI Technology has expanded its electronic title and registration product offering into Indiana as an authorized partial service provider of electronic title & registration and salvage title processing services. DDI said that through Premier EVR, it will provide a secure, web-based software system allowing Indiana dealers to electronically submit vehicle registrations and title applications, along with tag and title transaction fees, directly to the Indiana Bureau of Motor Vehicles, or BMV. That can help eliminate trips to… Read More »DDI to help Indiana dealers automate titling, registration

CDK platform could speed development of new auto products

HOFFMAN ESTATES, Ill. –  CDK Global has introduced an open, intelligent data platform that can turn high volumes of industry information into easy-to-understand, actionable insights for dealers, OEMs and third-party software developers. Called Neuron, the platform is connected to the Fortellis Automotive Commerce Exchange, which connects software developers, OEMs and dealers. Using an analytics engine powered by artificial intelligence and machine learning to create real-time and predictive insights, Neuron seeks to allow dealers and OEMs to sell and service more vehicles. Neuron does that by helping those dealers and OEMs create more… Read More »CDK platform could speed development of new auto products

Bauer reunites with Painter to help NXCR cultivate vehicle subscriptions

SANTA MONICA, Calif. –  Georg Bauer and Scott Painter worked together at Fair. And now Bauer and Painter are collaborating again with NextCar Holding Co. (NXCR). The fintech firm, which has a mission to create a platform that enables vehicle subscriptions to scale profitably, announced on Wednesday that Bauer joined NXCR as co-founder, president and vice chairman of the board of directors. In a news release, Bauer reiterated his beliefs about how vehicle subscriptions are part of significant changes happening in automotive. “Vehicle subscriptions are the new frontier for automotive finance solutions,”… Read More »Bauer reunites with Painter to help NXCR cultivate vehicle subscriptions

Partnership brings protection products to Schomp dealers

ATLANTA –  Through a new partnership between Schomp Automotive and Safe-Guard Products International, Schomp Automotive now provides an F&I product package to Schomp dealers under the One Protect brand, along with OEM-branded products. Schomp Automotive Group, a family-owned dealer group with eight stores in Colorado and Utah, said the One Protect brand includes 12 fully branded protection products, as well as technology integrations to power Schomp’s A2Z Sync software. The brand also includes retail training support with on-demand dealer training content, and complimentary branded sales and marketing content. Safe-Guard Products manages… Read More »Partnership brings protection products to Schomp dealers

PODCAST: Skip-tracing during the COVID-19 era

CARY, N.C. –  Alex “SkipGuru” Price returned to the Auto Remarketing podcast to discuss one of the subjects he knows best: skip-tracing. Now the director of training and development for LocateSmarter, a data and analytics company, Price described how the pandemic has impacted collections and skip-tracing while also reflecting on how tried and true methods continue to be crucial amid COVID-19. To listen to the entire conversation, click on the link available below, or visit the Auto Remarketing Podcast page.  Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.  Source Article