There is likely to be a shortage of used vehicles some three years down the road, as automakers halt production amid the COVID-19 pandemic, cutting the would-be off-lease volumes hitting the market in 36 months. There could also a supply impact much sooner in the off-rental sector, says Black Book’s Laura Wehunt, who outlined short- and […] [Read More]

Steve Kapusta of Ally's SmartAuction joins the Auto Remarketing Podcast to talk about the platform’s 20th anniversary, its early days and the evolution of the platform and online wholesale at-large. We delve into what perhaps changed the momentum for online wholesale and the importance of customer service and building trust. Plus, Kapusta shares the market need […] [Read More]

As dealers and lenders navigate a constricting market and economic downturn, retaining lease customers is extremely important for those dealers’ and lenders’ profitability, says J.D. Power director of automotive finance intelligence Patrick Roosenberg. “Communication through customer-preferred channels is paramount as dealerships temporarily close and lease customers navigate an unprecedented event, uncertain of their available options […] [Read More]

Technology company Xtime says COVID-19 social distancing measures have created a challenge for day-to-day service department operations and revenue. The company says a dealership’s fixed operations during these times are essential. Xtime, wanting to “help its dealership partners seize the moment,” is offering enhanced resources and multiple features at no additional charge. The company says […] [Read More]

While remaining upbeat about the industry’s long-term prospects, Kerrigan Advisors acknowledged the ongoing tailspin experienced by franchised dealerships when the firm released its latest Kerrigan Index, which is comprised of the seven publicly-traded auto retailers. Through Tuesday, the Kerrigan Index generated a devastating 37.7% decline for the month, more than triple that experienced by the […] [Read More]

[EDITOR'S NOTE: This story appears in Auto Remarketing Canada's Women & Automotive Profiles in Leadership issue. Reporting for and writing of this story was conducted prior to the COVID-19 pandemic's most severe impact on the auto market] According to McKinsey & Company’s fifth Women in the Workplace study, published in 2019, there were a few […] [Read More]

The Consumer Financial Protection Bureau addressed a crucial element of financial services thrown into a tailspin because of the COVID-19 pandemic. On Wednesday, the CFPB released a policy statement outlining the responsibility of credit reporting companies and furnishers during the crisis. In response to the pandemic, the bureau acknowledged many lenders and finance companies are […] [Read More]

As the auto-finance industry adjusted annual percentage rates (APR) on both used- and new-vehicle paper originated in March, the possibility your portfolio contains contract holders who no longer have their job jumped significantly, based on the newest data released by the U.S Department of Labor on Thursday morning. Labor Department officials said that during the […] [Read More]

Sure, consumers are not going to dealership showrooms very much, if at all, right now. But it doesn’t mean they’ve stopped shopping or looking at vehicle inventory. Far from it. According to data from Cars.com, “tens of millions” of shoppers are still involved in the car-buying process — they’re just doing it online and looking […] [Read More]

Pushed in part by the coronavirus crisis, Facedrive, a Canadian ridesharing platform that allows passengers to request rides in electric, hybrid or gas-powered vehicles, has expanded to Ottawa. The company says it is a peer-to-peer, eco-friendly and socially responsible ridesharing network that is newly licensed in Canada's capital. In accordance with its national and global […] [Read More]