Based on the dynamics described in the most recent updates compiled by Black Book, used-car managers might have one of the most difficult industry jobs nowadays. They’re seeing increased supply and decreased demand collide in the auction lanes, creating significant uncertainty about how to gauge trade-in values. “Sellers that focus on cheaper units are hopeful […] [Read More]

Being a publicly traded company, Credit Acceptance revealed current collection and origination performance trends that many other subprime auto finance providers also might be experiencing because of the coronavirus pandemic. According to a filing with the Securities and Exchange Commission posted on Tuesday afternoon, Credit Acceptance said, “the current outbreak of COVID-19 has adversely impacted […] [Read More]

The past six weeks have represented one of the busiest stretches ever experienced by the National Independent Automobile Dealers Association because of the coronavirus pandemic. NIADA senior vice president of legal and government affairs Shaun Petersen returned to the podcast, updating senior editor Nick Zulovich about an array of initiatives the association launched to help […] [Read More]

April will end up with the largest-ever year-over-year decline in the Manheim Used Vehicle Value Index, should current price trends remain on track. Manheim parent company Cox Automotive debuted its first mid-month edition of this index that measures wholesale vehicle price activity on Friday and found that the Manheim index is at 125.2 halfway through April, down 9.6% compared to the […] [Read More]

As the company’s chief executive officer shared his five broad perspectives about the ongoing economic crisis created by the coronavirus pandemic, Ally Financial also offered more details about how it’s worked with dealer clients. During the company’s quarterly conference call with investors on Monday morning, Ally Financial chief financial officer Jennifer LaClair said 72% of […] [Read More]

With Flick Fusion’s new live-streaming video communications application, dealership personnel can connect with vehicle shoppers and current customers, regardless of which operating platform the callers are on. The application is called StreaMe, and Flick Fusion is offering auto dealerships a free, no-obligation 60-day trial for a limited time. The company said it is offering the application […] [Read More]

Autotrader has debuted a new commercial spot highlighting various home services that dealers now offer to bring convenience and comfort to in-market shoppers while also minimizing in-person contact. The ad, titled, “Still Moving,” is meant to alleviate consumers’ car-buying concerns during the COVID-19 pandemic. Autotrader, sourcing the Cox Automotive COVID-19 Digital Shopping Study, said the […] [Read More]

Stating that the product makes dealership employee and customer safety a top priority during COVID-19, Dealer-FX has launched a contactless check-in application that enables physical distancing. Mobile Check-In is the new application from Dealer-FX, a digital transformation and customer experience management company serving auto retailers and OEMs. The company describes Mobile Check-In as a safer […] [Read More]

Spireon received a reason to be celebratory on a Monday morning amid the coronavirus pandemic. Spireon announced it has been named a winner of the 2020 Excellence in Customer Service Award, presented by Business Intelligence Group. For the second year in a row, Spireon has won under the Organization of the Year category, as the […] [Read More]

Reinforcing an earlier message about the need for teamwork and digitization as COVID-19 disrupts the F&I industry, Portfolio recently announced the launch of a new website for GAP and ancillary claims. Portfolio said its new site features a fully redesigned interface intended to offer easy navigation and a better overall user experience. Executives said users […] [Read More]