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LEGAL UPDATE: Sean Petersen, NIADA senior vice president of legal and governmental affairs, talks about recent legal issues affecting independent dealers.  One change in Nevada regulates the use of starter-interrupt and GPS devices.

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Copart Adds Northern Location Featured

Wednesday, 06 September 2017 01:20

Copart Inc. announced the expansion of its Ham Lake, Minn., location, north of Minneapolis.
The Ham Lake expansion follows other established location growth for Copart, most recently including the expansion of its location in Candia, N.H., its location in West Warren, Mass., and its two Arkansas locations, near Fayetteville and Little Rock.
The Ham Lake location holds online vehicle auctions every Tuesday at noon.

CarMax Expands in Maryland Featured

Friday, 01 September 2017 01:39

CarMax Inc. celebrated the grand opening of its first store in the Delmarva Peninsula and 7th store in the state of Maryland.
The store is located at 1801 North Salisbury Boulevard and has the capacity to stock approximately 140 used vehicles. Customers can also request transfers to the Salisbury CarMax of almost any vehicle from other CarMax locations throughout the country.
In celebration of the Salisbury store opening, CarMax Inc. and The CarMax Foundation awarded $8,000 in donations and grants to the Junior Achievement of the Eastern Shore. CarMax associates from the Salisbury store recently volunteered with the nonprofit and nominated it to receive the contributions.

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Carvana Opens Sixth Vending Machine Featured

Thursday, 31 August 2017 00:27

Carvana unveiled the latest of its Car Vending Machines in Raleigh. N.C.
The five-story, all-glass vending machine is the sixth of its kind, joining those in Houston, Austin, San Antonio, Dallas and Nashville.
The Raleigh structure holds 18 cars.
Customers will receive an oversized Carvana coin on-site to drop into the coin slot that activates the vending process. Once the car is vended into a delivery bay from the glass tower, the customer takes receipt with a seven-day money-back guarantee.

America’s Car-Mart Names New CEO Featured

Wednesday, 30 August 2017 23:09

After more than three decades in the buy-here, pay-here business, William H. "Hank" Henderson is retiring.

Henderson will step down as CEO of America’s Car-Mart on Dec. 31. President Jeff Williams will move up to fill Henderson’s role.

Henderson spent the last10 years leading the Bentonville, Ark.-based buy-here, pay-here chain. Prior to that, he served the company in several roles, including chief operating officer and President.

“I feel truly blessed to have had this opportunity,” Henderson said.

Henderson will remain a member of Car-Mart’s board and have the title of CEO Emeritus.

Williams joined Car-Mart 12 years ago. He has been President since 2016 and chief financial officer since 2005. I too am very excited about our future and look forward to helping the Company grow as we support our customers by providing a higher level of service than competitive offerings," Williams said.

Prior to joining the company, Williams spent approximately seven years in public accounting with Arthur Andersen & Co. and Coopers and Lybrand LLC in Tulsa, Okla., and Dallas. His experience also includes approximately five years as chief financial officer and vice president of operations of Wynco LLC, a nationwide distributor of animal health products.

Williams takes over at a time when America’s Car-Mart has been struggling following years of rapid growth.

The company is focusing on productivity improvements for existing dealerships to take back some market share. Car-Mart is also investing in general manager recruitment, training and advancement as well as collections support.

Williams said these investments “will help allow us to confidently grow and leverage our costs over time."

“We are excited about our future, and we are committed to our continued success,” Williams said.

Investors seem mixed in their reaction, as Car-Mart’s stock continues to experience large fluctuations.

Copart Expands Facility

Copart Expands Facility

Copart Inc. expanded its New Orleans facility.The auction is located at 14600 Old Gentilly Road. The New Orleans expansion marks the twelfth Copart expansion announced this calendar year.

NABD Honors CFO

NABD Honors CFO

The National Alliance of Buy-Here, Pay-Here Dealers has inducted several high-profile operators into its Hall of Fame. But this year the NABD took the opportunity to honor somebody who played...

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