Like so many shops connected with auto financing, federal regulators are working in virtual environments, too. Just before the holiday weekend, the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) announced they will host joint, virtual innovation office hours later this month as part of the American Consumer […] [Read More]

Rodo — the online vehicle leasing startup and Emerging 8 honoree that first entered the marketplace known as Honcker — recently announced a partnership with Motus, a provider in reimbursement solutions for businesses with mobile-enabled workers. The companies explained their relationship is designed to simplify vehicle buying and financing through the Rodo app for the hundreds […] [Read More]

Last week, Equifax hired a former top executive from Cox Automotive. After being Cox Automotive’s first chief data officer for a little more than a year, Equifax announced the appointment of Luber as the new chief product officer for United States Information Solutions (USIS). Luber will report to Equifax USIS president Sid Singh. In keeping […] [Read More]

Twelve additional Manheim auctions will begin piloting the return of in-lane bidding this week, following the company’s initial pilot run at five locations. Dealers at the pilot locations are able to bid in-lane through Digital Block sales, which include in-lane bidding on site at Manheim auctions with a live auctioneer and simulcast. Vehicles remain stationary […] [Read More]

My how the tables have turned! This time, it is Joe and Nick who are interviewed on the Auto Remarketing Podcast. In this "reporter's notebook"-style episode, former sports broadcaster and current PA announcer/conference emcee extraordinaire Bill Zadeits talks to the guys about the surreal first half of 2020 in used-car retail, wholesale auctions and auto […] [Read More]

When you think of Carvana, you probably think of digital retail (and rightly so).  But the online used-car marketplace made a move last month that “lays the path for us to also be the leading online wholesaler,” says Scott Wood, the company’s senior director of wholesale operations. In late June, Carvana announced that through a […] [Read More]

For the past 40 years, the Jerry Seiner Dealerships have operated in Utah. This week, the dealer group made its entrance into Arizona. According to a news release distributed on Tuesday, the Jerry Seiner organization has purchased Henry Brown Chevrolet and Henry Brown Chrysler Dodge Jeep Ram in Casa Grande, Ariz. The group said these […] [Read More]

In each of the four full weeks of June, used-car sales at franchised dealerships exceeded pre-virus forecasts by double-digit percentages, according to J.D. Power’s Used Vehicle Impact Report released Tuesday. For the week ending Sunday (June 28), used sales for franchised dealers were 12% stronger than what pre-pandemic forecasts called for. This performance followed gains […] [Read More]

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]