A little more than a week remains for your dealership to meet its monthly sales targets or your finance company to push toward portfolio growth objectives for July. Currently, deliveries are being completed and contracts are being bought at decent clips, especially considering how much the coronavirus pandemic has thrown grit into the industry gears […] [Read More]

In a quarter where the retailer notched an earnings record, Lithia Motors also reported strong results in its used-car operations as it released second-quarter fiscal results on Wednesday. Offering some overall commentary on the quarter, Lithia president and chief executive Bryan DeBoer said in a news release: “The strong sequential improvements throughout the quarter, coupled […] [Read More]

In this episode of the Auto Remarketing Podcast, Joe Vitale, who is principal and global automotive sector leader at Deloitte Consulting, joins the show to talk with Auto Remarketing senior editor Joe Overby about Deloitte's report on "Restarting the Stalled Automotive Sector." For a recap of the full report, be sure to check out this story from Nick […] [Read More]

United Road recently highlighted the five special initiatives the transportation company is using during the COVID-19 pandemic to help OEMs, dealerships, rental-car companies, auctions and other consignors and wholesalers get vehicles shipped to and from intended destinations. “United Road is doing what it takes to support our customers, being agile and fluid as customers replenish […] [Read More]

It is an interesting time for both lenders and borrowers. The impacts from COVID-19 have been unexpected and far reaching, raising questions for many lenders as their customers seek convenient and applicable repayment alternatives. As delinquencies rise or threaten to rise — creating concern and potential portfolio volatility — many lending businesses are searching for […] [Read More]

The ongoing COVID-19 pandemic is keeping the Federal Trade Commission busy. Andrew Smith, who is the bureau of consumer protection director at the FTC, testified at a U.S. Senate hearing on Tuesday. Smith said that to date, the FTC has received more than 131,419 consumer complaints related to COVID-19, including complaints about the government’s economic […] [Read More]

This week, Launcher Solutions announced its third major development since the second half of May. The newest one involved the technology provider specializing in automotive finance originations finalizing an integration partnership with Neo to help finance companies build a stronger portfolio and make smarter sales via Neo’s highly customized and comprehensive loan scoring algorithms. Launcher […] [Read More]

An executive who spent nearly two decades with Gulf States Toyota now is the chief operating officer FunnelAI, a real-time B2B artificial intelligence-based semantic search platform. Taking on this role for FunnelAI is Laura Ryan, who will be responsible for the development and execution of the strategy that will ensure accelerated growth in all areas […] [Read More]

Dealers Auto Auction Group has named its vice president of national sales and operations, bringing in David Diedrich for the role. Diedrich has been in the auto auction industry for three decades. “Assisting clients in establishing selling processes and markets, while developing promotions to potential buyers for the respective clients is the key to success […] [Read More]

Lagging, but not lost. That’s how a CarGurus analyst described the car-sales picture in the aftermath of the COVID-19 pandemic, whose impact on car shopper intentions seems to have moderated in recent months. In April, 79% of shoppers planned on delaying their car purchases, but in June, that figure slowed to 69%, according to the […] [Read More]