Auto industry subscription and mobility services software company Clutch is providing its service pickup and delivery software on a complimentary basis for all dealerships through the end of June. Clutch said the offering is aimed to help keep human interaction at a minimum. The company said it is also an effort to help lower stress […] [Read More]

With guidelines to contain the spread of COVID-19 also suffocating regular activity of financing and retailing vehicles, the auto-finance industry continues to make adjustments to shore up their businesses and maintain contact and services to customers. Cherokee Media Group gathered together the latest information to surface since Monday. To add your company’s operational update to this […] [Read More]

Digital automotive platforms, retail and wholesale, are making adjustments for COVID-19, just as many brick-and-mortar operations are, as well.  In an example, one of those is a new No-Touch Test Drive system from Shift, a retail online used-car marketplace. For No-Touch Test Drive, a Shift concierge will deliver a car to a customer’s home, wipe […] [Read More]

Leaders representing the major constituencies of the auto auction industry continued their weekly teleconference calls on Monday, updating one another on their respective responses to the COVID-19 pandemic. Auto Remarketing caught up with National Auto Auction Association chief executive officer Frank Hackett by phone for a rundown on the latest. Among the updates: NAAA president […] [Read More]

The American Bankers Association. American Financial Services Association and the Consumer Bankers Association represented half of the industry groups that sent a letter on Sunday to the Securities and Exchange Commission (SEC) to delay implementation of the Current Expected Credit Loss (CECL) accounting standards. To recap, the Financial Accounting Standards Board (FASB) is looking to […] [Read More]

NextGear Capital is offering a relief package to support independent dealers during the COVID-19 crisis. Among those measures are base rate reduction by 50 basis points, deferred curtailment and extension payments for eligible floorplan advances and no late fees. Company president Scott Maybee stated in a letter to the dealers that he hoped the measures “can […] [Read More]

With the phone now being an even more crucial tool for dealerships when overcoming COVID-19 impact, the National Automobile Dealers Association offered assistance for another side effect of the coronavirus pandemic — an emerging call-blocking issue stemming from illegal robocalls. NADA said it has recently received reports that dealers also are facing issues involving calls […] [Read More]

Dealers Auto Auction of Chattanooga says auctions receiving ARI’s regional award must prove their performance every day of the year. ARI’s various benchmarks for each auction partner include days to sell, days to condition report, percentage of Black Book, and days to fund. Dealers Auto Auction of Chattanooga said on March 17 that it received […] [Read More]

Along with an extensive letter articulating several important activities — including advocacy for independent operators, its annual convention and 20 groups — National Independent Automobile Dealers Association chief executive officer Steve Jordan made an urgent plea for members to reach out to their Congressional representatives. In separate messages sent on Sunday, Jordan emphasized the U.S. […] [Read More]

Along with many finance companies offering their own programs, Experian also is accelerating and enhancing its financial education in response to the urgent and rapid changes associated with COVID-19. With expected delays in bill payments, unprecedented layoffs, hiring freezes and related hardships, Experian said on Monday that it seeks to aid consumers in understanding how […] [Read More]