Fitch Ratings tried to provide some clarity to the Canadian financial market as the nation looked to celebrate Canada Day this week amid the coronavirus pandemic. The firm said its recent downgrade of Canada’s issuer default rating (IDR) to AA+ Outlook Stable from AAA Outlook Stable will not result in any downgrades to credit card […] [Read More]

When it comes to supply entering the wholesale market, look for that to be “higher than expected” the remainder of the year, Black Book said in its weekly COVID-19 Market Update released Tuesday. But such high supply could be mitigated by strong retail demand, according to another analysis from J.D Power. Driving the expectation for […] [Read More]

Wholesale-price increases accelerated as June and likely the most tumultuous second quarter in anyone’s memory neared an end. How long the fuel for that wholesale-price climb will last is almost as challenging to project as when the coronavirus pandemic will stop influencing the auction and dealership worlds. Black Book, Cox Automotive and J.D. Power Valuation […] [Read More]

The industry took another step toward ensuring the ongoing Takata airbag recall campaign is successful. This week, the Alliance for Automotive Innovation announced support for a new automaker-driven tool enabling anyone who handles aftermarket parts, businesses and associations to help identify recalled Takata airbags and work with dealers and others to identify and safely dispose […] [Read More]

The first half of 2020 has been mired with challenges in the wholesale car market, but one particularly positive trend has emerged at the tail end of the of second quarter. Auction sales volume have made a strong comeback and are now at or above year-ago figures, according to industry analyses. In its weekly COVID-19 […] [Read More]

While the cost of new vehicles continues to climb, the newest data from Edmunds indicated finance companies are finding ways to mitigate their risk when booking new-model paper. On Wednesday, Edmunds experts reported the average down payment for new vehicles financed in June rose to the highest amount seen all year, increasing to $4,451. Furthermore, […] [Read More]

Portfolio has officially acquired National Automotive Experts and NWAN, uniting two leaders in the F&I product provider, administration and reinsurance space and closing an agreement initially announced in March.  Portfolio president and chief executive officer Brent Griggs noted the world has changed unalterably since the companies first announced the move. “The pandemic has affected every […] [Read More]

While the coronavirus pandemic has created plenty of headaches for dealerships, the ramifications appear to be creating at least one opportunity for store F&I departments. Sales of vehicle service contracts post-sale first spiked in March and then again in April and May as dealers slashed marketing budgets and shifted focus to existing customers, according to […] [Read More]

Dallas-based Dasceq, a firm that specializes accounts receivables and collections by leveraging artificial intelligence and other technologies was selected as one of the 10 companies selected on Tuesday to participate in the 2020 FIS Fintech Accelerator program, which is orchestrated by FIS and The Venture Center. In its fifth year, officials highlighted the FIS Fintech […] [Read More]

No doubt vehicle shoppers are scouring dealership inventory more than ever nowadays. V12, a provider of purchase intent insight and marketing services, wants all segments of the automotive industry to gain more insight about that online activity — even down to the brand and model level. This week, the firm launched V12 Signals Online for Automotive, […] [Read More]