The global outbreak of COVID-19 and the subsequent shutdowns across our nation have made an unprecedented impact on lenders and the way they conduct business. From the pandemic’s onset, lenders have faced multiple external and internal challenges, and they continue to struggle months into the outbreak. For auto lenders, this means that previously developed processes […] [Read More]

A little more than a week after rolling out the sixth securitization in company history, Tricolor Auto landed a significant financial commitment from Kennedy Lewis Investment Management. Kennedy Lewis, which classifies itself as an opportunistic credit manager, has funded a $50 million committed secured corporate loan facility to Tricolor Auto, a Community Development Financial Institution […] [Read More]

A web browser is the gateway to so many business and personal activities nowadays. And ABCoA wanted to make sure its latest tool for dealerships and subprime finance companies can be utilized through that technology path. During its recent 2020 User Conference and Deal Pack Boot Camp, ABCoA unveiled its newest dealership and lender management […] [Read More]

Marco Andretti says race car drivers often face challenges. But that is nothing compared to the challenges of those fighting cancer. “We support all the cancer survivors and those who are fighting right now,” said Andretti, a two-time NTT INDYCAR SERIES race winner, in a news release. AutoNation said Andretti and two other NTT INDYCAR SERIES drivers […] [Read More]

Atlanta Beats Covid, or ABC, includes volunteer makers, engineers, fabricators, seamsters, and other “Southeast industry experts.” That group works to provide healthcare providers and other Atlanta community members with the necessary personal protective equipment, or PPE, that they need to stay safe while fighting COVID-19. From Aug. 31 to Sept. 7, Jim Ellis Automotive Group […] [Read More]

More news continues to arrive on the M&A side of retail automotive, including some recent moves in two of the nation’s largest metropolitan areas.   Starting in the Midwest, Minneapolis-area retailer Walser Automotive Group announced Friday it has expanded its presence to the Chicagoland area with the purchase of Countryside, Ill., dealership Continental Nissan. The […] [Read More]

Former TrueCar vice president of product Michael Rose has joined used-vehicle platform SureSale as vice president of product development, starting with the company as it focuses on expanding the platform to help dealerships validate more of their used-vehicle inventory. SureSale describes Rose as a “veteran automotive product innovator,” and the company’s co-founder and president Jeffrey […] [Read More]

More than 70 Manheim locations have now returned to in-lane bidding via Digital Block sales, as more than a dozen have been added back in the past two weeks. That includes four resuming in-lane sales this week: Manheim Georgia, Manheim Atlanta, Manheim New Mexico and Manheim Birmingham. In the past two weeks, these auctions have […] [Read More]

Despite the obstacles created by the coronavirus pandemic, Axis Auto Finance recently reported that it set a new record for originations and two other metrics during its 2020 fiscal year that closed on June 30. The publicly traded subprime automotive finance company said its originations for the 2020 fiscal year came in at $78.7 million, […] [Read More]

Along with donating 150,000 masks to three of the largest public school districts in Texas, GM Financial recently named five regional 2019 Auction of the Year winners and the recipient of the Most Valuable Auction of the Year Award. These accolades are part of GM Financial’s annual nationwide Auction of Excellence program, recognizing the highest-performing […] [Read More]