This dealer news roundup begins with AutoNation appointing a top technology executive whose background includes time with companies such as Tesla, Avis Budget Group, and Google. Effective Thursday, Ravi Simhambhatla became the chief technology and AI officer for AutoNation to lead the dealer group’s technology, data science, and artificial intelligence agenda. “Over decades, we have […] [Read More]

Almost a month ago, PayNearMe acquired the technology assets and hired the key employees of Marr Labs in a move described as one that will “help shape the future of payments.” The next development in that future involving artificial intelligence and payments surfaced on Thursday when PayNearMe launched its AI Servicing and Collections Agent, a […] [Read More]

The newest auto-finance data from Edmunds reinforced why the car-shopping site is part of a conversation about vehicle affordability during Used Car Week, which begins on Nov. 16 in San Diego. Among the six records highlighted in the latest analysis Edmunds released on Thursday about activity in the third quarter, 6.5% of used-vehicle buyers who […] [Read More]

Cars.com installed a new chief executive officer in January and a new chief marketing officer in June. On Nov. 6, the company will also have a new chief financial officer. Late Wednesday, Cars.com announced that Trent Ziegler has been appointed the company’s next CFO-designate, effective Oct. 19. According to a news release, Ziegler will formally […] [Read More]

Amidst the activities during this week’s NAAA World Remarketing Convention in Seattle, the National Auto Auction Association honored Kerri Rotunda, Greg Price, Tyler Payton, and Martin Sandoval as Warren Young Fellows for their many contributions and distinguished service to the wholesale industry following their term as president of their respective association chapters. Also receiving this […] [Read More]

In June, iLending president Nick Goraczkowski discussed the prospects for auto refinancing, saying: “We’re seeing pockets of strength that are creating opportunity but also reinforcing how quickly conditions can change.” A dramatic change, at least for iLending, arrived on Thursday as the company said on its website that it had suspended refinancing loans for new […] [Read More]

The American Financial Services Association took issue with significant portions of a Bloomberg article published this week. The report recapped an examination of nearly 3 million subprime auto loans packaged into securities between 2021 and 2023, tracing how some finance companies work with contract holders who are delinquent. “It is detailed but missing important perspective,” […] [Read More]

The recent Carfax investigation highlights a problem the automotive industry has struggled with for decades. It’s time to make it easier to identify dealers that are truly “fleet-minded.” Back in the mid 1990s, I helped create the original dealer-focused commercial sales training programs for Ford and General Motors. These were off-premises, three-day live, comprehensive programs […] [Read More]

The ongoing high costs for gasoline and diesel fuel influenced buying and selling happening in the wholesale market with September winding down. That’s the gist of the newest Market Insights from Black Book, which watched overall wholesale values drop by 0.71% as “depreciation continued at a seasonally elevated pace” and “truck and SUV segments remained […] [Read More]

Discrepancies over document fees have landed an Alaska independent dealer into a $500,000 settlement with the state’s attorney general. Acting Alaska attorney general Cori Mills announced a settlement last week with Payless Used Car Sales over document fees that the store did not include in prices it advertised online. Under Alaska law, dealers must include […] [Read More]