Kroll Bond Rating Agency (KBRA) and S&P Global Ratings continued to use their examinations of the U.S. auto loan asset-backed securities (ABS) market to offer a look not only at that particular segment but also views on what the overall health of auto financing might be. Beginning with S&P Global Ratings, analysts there said May […] [Read More]

Last week, Nacha highlighted how much electronic financial transactions jumped year-over-year during the second quarter, triggered in part by the coronavirus pandemic. The steward of the ACH Network, a payment system that universally connects all U.S. bank accounts and facilitates the movement of money and information, reported that Q2 ACH payment volume grew 7.9% compared […] [Read More]

Sheehy Auto Stores is again looking to support the American Heart Association through a program happening at all of its dealerships. On Friday, the company announced the beginning of the 23rd annual Sheehy 8000 Sales Race, a community-wide initiative in which all 29 Sheehy dealerships sell vehicles while raising awareness and funds to benefit the […] [Read More]

An executive who began his professional career in the trenches at a dealership now is the vice president of business development of CarLabs.ai, an artificial intelligence-powered, conversational engagement platform designed to successfully implement and personalize sales and customer service via chat on social channels, websites, voice and other messaging channels. Named to this post this […] [Read More]

This past week, CU Direct announced a new integration with VinSolutions automotive CRM, creating what the tech firms believe are six benefits for dealership F&I offices. As a result of the collaboration, CU Direct has expanded its CUDL auto financing platform’s DMS/CRM integration solution to include VinSolutions. The developer of lending software technology for the […] [Read More]

RumbleOn and CarGurus are working together to provide dealerships with another technology-driven path to secure valuable inventory. The companies announced last week that CarGurus will leverage RumbleOn’s technology as well as its transportation and distribution services in the testing of a new inventory acquisition product for dealers that can enable dealers to source consumer vehicles […] [Read More]

In a preview of what he will discuss in more detail during the all-digital Automotive Intelligence Summit, DRN executive vice president and general manager of fintech Jeremiah Wheeler offered some insight into the company’s location data gathered since the coronavirus pandemic began. Wheeler is also among the keynote presenters during the Auto Intel Summit presented […] [Read More]

Darwin Automotive formed partnerships this week with two other companies in the F&I space. According to news releases from the firms, both EasyCare and GWC Warranty will be a preferred partner for Darwin’s premier F&I menu system, as well as its digital retailing and consumer self-service tool. With these partnerships, EasyCare and GWC Warranty said […] [Read More]

The COVID-19 pandemic has hit the used-car industry hard. Dealership lots that were once filled with customers turned into ghost towns overnight. Consumers were suddenly home bound after stay at home orders went into effect across the country, and even when restrictions were starting to lift, people were hesitant to venture outside due to safety […] [Read More]

It’s a new day — we’re seeing the other side of this pandemic and gaining additional clarity on the future.  It’s been an unusual, stressful, and frightening few months as we’ve all navigated our personal andrbusiness lives in the wake of COVID-19.  While companies throughout our industry have been forced to modify basic business practices, […] [Read More]