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Gary Fields, who joined the KAR group in 2003, was promoted to vice president of KAR IT Shares Services. He will be responsible for overseeing the coordination of any enterprise-wide technology solution implementations, as well as identifying and researching relevant emerging technologies.
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The car segment retained its value well last week, with the wholesale value of 2008-2014 model-year cars decreasing by 0.68% last week. This was in line with the 0.67% decline the segment has experienced over the last six weeks, according to Black Book’s Market Insights report.
Read More →Manheim has nearly tripled the number of auctions offering enhanced vehicle imaging (EVI), expanding from 25 to 74 locations throughout North America, the company said this week
Read More →ADESA's chief economist reported this week that the continued strength of the truck segment drove a year-over-year increase in wholesale prices, while weak car sales contributed to a month-over-month price decline.
Read More →For the fifth time in seven months, J.D. Power and LMC Automotive are predicting a year-over-year decline in new-vehicle retail sales for September. But officials with both firms said the numbers don't point to significant weakness or risk, but the firm does see challenges ahead.
Read More →LotLinx Media Holdings, a new subsidiary of LotLinx, has named Eric Brown president, the company announced this week. The behavior data expert will focus on building up LotLinx's media properties and growing the business.
Read More →Thirty-one percent of incoming sales calls and 20% of incoming service calls never reach an agent, according to the call monitoring solution CallRevu. Helion Automotive Technologies' Erik Nachbahr says this statistic can be attributed to a dealership's poorly designed call flow.
Read More →CareGard has appointed Guy Koenig as its new president, the company announced on Monday. Koenig succeeds Wright Brewer, who is staying on as CEO and chairman and will continue to play a key role in the company’s growth.
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In his new role, Trent Strauss will lead the local auction dealer relations teams throughout the United States. He will also oversee deployment of the company’s national sales and dealer relations strategy.
Read More →While the industry welcomed the Fed’s 7-3 decision not to raise interest rates a quarter point, market watchers say even a full percentage-point increase wouldn’t impact the current pace of auto sales. The Fed is still expected to raise rates a quarter point by the end of the year.
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