On Friday, Cox Automotive released the latest reading of the Manheim Used Vehicle Value Index, and analysts emphasized one point after finalizing their wholesale market data. “Last year remains a tough comparison for prices as we came off a record in the Manheim Index because of abnormally strong consumer demand in the fall related to […] [Read More]

If auto-finance companies were not already using alternative data to enhance their underwriting efforts, they appear to have gotten the green light this week from five prominent federal regulators. Those five agencies — the Federal Reserve, the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corp. (FDIC), the Office of the Comptroller of the Currency […] [Read More]

The Canadian subsidiary of Enterprise Holdings will be purchasing Discount Car and Truck Rentals Ltd., a Canadian car and truck rental company. The agreement between Enterprise Holdings and Discount Car and Truck Rentals was announced Thursday, and the deal would include all of Discount’s corporately owned locations and the Quebec licensee’s daily rental businesses. Discount […] [Read More]

Used-car ecommerce platform Vroom has secured a $254 million Series H round of funding led by Durable Capital Partners LP. Among other purposes, these funds will be used to expand Vroom’s new product and engineering hub in Detroit. The round, announced Friday, means Vroom now has $721 million in total funding. Also participating in the […] [Read More]

Valeri Tompkins says that through a new Pentagon Federal Credit Union program, members can discover the Volvo brand “in an intimate way” through the PenFed Car Buying Service, which is powered by TrueCar. Tompkins is senior vice president at TrueCar, and she is referring to the Volvo PenFed Member Offer, which provides members of Pentagon […] [Read More]

Through a new program from the National Association of Minority Automobile Dealers, or NAMAD, dealers will be able to certify their non-branded used vehicles just as they do with their franchise brand certification. F&I product and services company C Berman Associates will produce and execute the program, and that company along with NAMAD will introduce […] [Read More]

Reinforcing the appeal of used models highlighted in a recent Ally Financial survey, Experian’s latest data showed used vehicles are commanding a larger share of the U.S. automotive finance market. According to Experian’s Q3 2019 State of the Automotive Finance Market report, analysts found used financing increased 2.4% year-over-year, reaching 55.15% in Q3, compared to […] [Read More]

Along with announcing its next executive director, the American Bankruptcy Institute (ABI) this week also shared the November filing information that showed a slowing of cases after four months in a row of increases triggered by changes in federal laws. According to data provided by Epiq Systems, ABI reported Total U.S. bankruptcies in November registered […] [Read More]

Did you know that your most effective used-car sales team is likely your service department? Among used-car buyers who service at a dealership, 74% shop that dealership for their next used vehicle, and 55% buy their next used vehicle there. Happy service customers also create great opportunities for referrals, with 72% saying that if they […] [Read More]

A development that an expert on the topic discussed during Used Car Week 2019 arrived on Wednesday, involving older models that might be in your inventory or run sheet. The National Highway Traffic Safety Administration said another 1.4 million vehicles are being added to the massive Takata airbag recall. A letter written by Joshua Neff, […] [Read More]