To support independent dealers as they work through the economic impact of COVID-19, Automotive Finance Corporation introduced its customer-relief program to customers on March 24. On Tuesday, AFC said more than 10,000 customers have taken advantage of the program. AFC, a business unit of global vehicle remarketing and technology solutions provider KAR Global, has deferred […] [Read More]

My oh my, this COVID-19 virus thing is not a good thing. It’s not good. It’s bad for business. It’s also been a bad thing for our personal lives. Hopefully, you and your family have fared well through this crisis. Now, what to do? While I suspected that buy-here, pay-here delinquency would go up from […] [Read More]

Genesis on Monday launched a new at-home car shopping service on Monday, stating that the national “white glove” program will provide customers their own personal concierge. Throughout the process of shopping for and buying a new Genesis, that concierge will act as a host and guide. Genesis said the launch of Genesis Concierge marks a […] [Read More]

Finance companies are rolling record amounts of negative equity into the new-vehicle paper they’re originating nowadays. While providers might be prudent as to how deep down the credit spectrum the most generous new-model offers are extended, Edmunds reported on Tuesday its data shows April established an all-time record as 44% of new-vehicle sales with a […] [Read More]

As Hertz scrambles to modify its monthly vehicle-lease payments and other financial commitments, Fitch Ratings is bracing for the growing possibility the rental-car company soon will be filing for bankruptcy because of the collapse of the travel industry due to the coronavirus pandemic. On Tuesday, Fitch Ratings said it downgraded all of the outstanding asset-backed […] [Read More]

Along with updating its most likely and severe recession scenarios for how wholesale prices might perform, Canadian Black Book began its latest COVID-19 update with what analysts declared to be “good news.” Canadian Black Book highlighted on Monday that those positive developments stemmed from what’s now happening in provinces like Ontario and Quebec. “While there […] [Read More]

Fair officially has a new chief executive officer. Bradley Stewart, former CEO of on-demand private aviation services platform XOJet, takes over for interim CEO Adam Hieber. Hieber, who will remain on Fair’s board of directors, will resume duties as a SoftBank Investment Advisers operating partner. He had taken on the interim CEO post in fall […] [Read More]

Tom Freiert, vice president and co-founder of automated imaging company Black Widow,  joins the Auto Remarketing Podcast and explains how the company’s “drive-through” vehicle imaging services are much like an augmented car wash and how the pandemic has driven demand for such services in the auto-auction business. “This digital revolution has been kind of knocking at […] [Read More]

JM&A Group’s in-house educational and training facility, the Performance Development Center, has expanded its offerings for dealers throughout the industry. JM&A Group said it was doing that after the successful launch of its initial free virtual training courses. Describing the response to its online, live training courses as “overwhelmingly positive,” JM&A created four new sessions, which […] [Read More]

Digital retailing platform Prodigy is offering a one-to-one concierge shopping service for online car buyers that it says provides online car shoppers the same hands-on experience they get on the showroom floor. Prodigy says the service, called Virtual Showroom, brings that experience to shoppers with the convenience of an Amazon-like checkout process from their homes. […] [Read More]