PODCAST: Why auto inspections are ripe for investment

CARY, N.C. –  This episode of the Auto Remarketing Podcast ventures into the investment world with Gina Cocking, who is managing director of Colonnade Securities, a Chicago-based investment banking firm that specializes in merger and acquisition advisory services. Cocking not only shared an assessment of the current investment landscape, she also discussed the firm’s recent examination of the auto inspection and warranty claims management industries and why investors might be interested in these spaces. To listen to this episode, click on the link available below, or visit the Auto Remarketing Podcast page. … Read More »PODCAST: Why auto inspections are ripe for investment

Online collector car auction sets records, aids COVID-19 relief

SCOTTSDALE, Ariz. –  Barrett-Jackson, which produces collector car and automotive lifestyle events, says it set two world collector car auction records during its online-only auction in May. Barrett-Jackson chairman and chief executive officer Craig Jackson said teaming up with NASCAR team owner Richard Childress for the sale of his original No. 3 Dale Earnhardt NASCAR race car was “the true highlight of the auction.” The sale of that vehicle, Jackson said, “raised money for people whose health and livelihoods have been impacted by the current pandemic.” Barrett-Jackson describes itself as “the… Read More »Online collector car auction sets records, aids COVID-19 relief

RISC extends waiver of membership-education subscription fees through July 1

TAMPA, Fla. –  After nearly two months of COVID-19 related ordinances and regulations, RISC acknowledged the repossession industry has not opened up in all areas, continuing to pressure recovery agency owners and their staff financially.  RISC wants to support agents during this crisis by waiving membership and education fees for current and any new RISC Pro members through July 1.  According to a news release distribute this week, RISC’s waiver of fees can allow members to update their CARS certifications and train any new employees to prepare for assignments to come.… Read More »RISC extends waiver of membership-education subscription fees through July 1

Credit Acceptance CEO credits workforce for navigating COVID-19 thus far

SOUTHFIELD, Mich. –  After being delayed because of the coronavirus pandemic, Credit Acceptance Corp. plans to return from Memorial Day weekend and share its first-quarter results on Wednesday. Earlier this week, the subprime auto finance company gave a glimpse of how it’s navigated through the crisis when chief executive officer Brett Roberts completed his annual letter to shareholders. “This year’s letter was nearly complete when I started to take notice of a new virus that had been causing considerable damage in China and was starting to spread to other countries. At… Read More »Credit Acceptance CEO credits workforce for navigating COVID-19 thus far

TrueCar continues financial support through June

Friday, May. 22, 2020, 10:37 AM SANTA MONICA, Calif. –  TrueCar is continuing financial payment relief for its dealer customers through June. The automotive digital marketplace said it would automatically reduce subscription invoices by 25% in states where its pay-per-sale or performance-based billing arrangements are not currently available. The June discount follows TrueCar’s previously announced 50% reductions to those dealers’ April and May invoices. TrueCar president and chief executive officer Mike Darrow said the automotive sector is “on the path to recovery.” “While ALG is projecting U.S. retail new vehicle sales… Read More »TrueCar continues financial support through June

PODCAST: Hugh Hathcock of ReconVelocity

Thursday, May. 21, 2020, 01:39 PM CARY, N.C. –  Cherokee Media Group president Bill Zadeits talks with Hugh Hathcock, owner of ReconVelocity, about the challenges of the pandemic, conversations he has had with dealers and how they are faring. Plus, they discuss the dealer relief program at ReconVelocity, the story behind the company and more. To listen to this episode, 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

Minority-owners dealer association sponsors COVID-19 Day of Service

BOWIE, Md. –  Toyota/Lexus Minority Owners Dealership Association board president Ed Fitzpatrick says that because of the coronavirus pandemic, many families are “vulnerable and in a state of economic instability.” Because of that, the association, which represents the needs of minority dealers within Toyota and Lexus, is working with The Salvation Army to fill the pantries of families in need during the crisis. TLMODA dealers and The Salvation Army on Friday will distribute more than 4,800 packages in 24 communities throughout the country. Toyota and Lexus dealership staff during TLMODA’s National… Read More »Minority-owners dealer association sponsors COVID-19 Day of Service

Facebook highlights Digital Air Strike’s Click to Marketplace advertising

SCOTTSDALE, Ariz. –  Facebook has chosen Digital Air Strike for a limited beta test to determine whether dynamic ad clicks to Facebook Marketplace, instead of to a dealer’s website, increased leads. Brown’s Toyota of Glen Burnie, Md. was the pilot business, and it saw four times more impressions, 1.5 times more views and a 33% reduction in cost per view, according to Digital Air Strike. Digital Air Strike is a consumer engagement technology company that is helping businesses use increased traffic on social media during COVID-19. The company says its social… Read More »Facebook highlights Digital Air Strike’s Click to Marketplace advertising

Financial incentives & alternative shopping, top considerations of autoTRADER.ca visitors

TORONTO –  Financial incentives are the most significant factor in shopping for or purchasing a vehicle. The most popular purchase incentive among consumers? A zero-percent financing offer. Those are among the findings of a new study from TRADER Corp., which surveyed more than 500 autoTRADER.ca visitors over a two-week period in late April and early May to identify factors that could incentivize shopping for or purchasing a vehicle now or in the near future. The company categorized responses into three groups: financial Incentives, hygienic actions, and alternative shopping methods. TRADER said each… Read More »Financial incentives & alternative shopping, top considerations of autoTRADER.ca visitors

COMMENTARY: Times have changed — Adapt to the new normal

MARKHAM, Ontario –  It’s nice to be able to spread some good news amongst so many dreary reports of late. Car dealerships are beginning to reopen across Ontario and Quebec, which represents 65% of new-car sales in Canada. This is great news! As we know, the auto business lives and dies by the success of its retailers. During April (and the months prior), dealers doors had been closed and they had been scrambling to find ways to remain productive. Combine this with a general public being restricted in its travels and daily… Read More »COMMENTARY: Times have changed — Adapt to the new normal