Retail auto website platform and digital marketing company DealerOn has announced a strategic partnership with independent private equity firm, NexPhase Capital. "NexPhase brings deep sector knowledge, operational expertise and significant resources that will help drive DealerOn's success for years to come,” DealerOn chief executive officer and co-founder Ali Amirrezvani said in a news release. Amirrezvani continued, […] [Read More]

Auto data platform company Dealer-FX chief executive officer and founder Gary Kalk will become executive chairman of the board of directors for the company. The company also announced on Tuesday that it named chief operating officer Bill Lucchini chief executive officer. Dealer-FX, which performs digital transformation and customer experience management for automotive retailers and OEMs, […] [Read More]

A surge in retail activity to close 2019 created a lift in wholesale prices in December, according to the analyst team at Cox Automotive. Those analysts noticed that wholesale used vehicle prices (on a mix-, mileage- and seasonally adjusted basis) increased 1.54% month-over-month in December. That movement brought the Manheim Used Vehicle Value Index to 141.1, […] [Read More]

The American Financial Services Association applauded one of the first actions of 2020 made by the Consumer Financial Protection Bureau (CFPB). A Hudson Cook partner is among the four members who will serve on the bureau’s taskforce on federal consumer financial law. According to a news release distributed by the CFPB this week, the taskforce […] [Read More]

The Tesla Model S may be the original electric luxury car. But the Nissan Leaf “was the first electric car to target the masses.” That's according to Autotrader.  “Think of it as the modern Ford Model T of electric cars,” the third-party listings brand said in a news release about the Leaf. Autotrader recognized both […] [Read More]

Used-vehicle buying and selling e-commerce platform Carvana launched as-soon-as-next-day vehicle delivery to Santa Fe, N.M.-area residents on Thursday and Sierra Vista, Ariz. area residents on Tuesday. With the two announcements, Carvana now offers as-soon-as-next-day vehicle delivery in 148 U.S. markets. Regarding the Santa Fe news, Carvana founder and chief executive officer Ernie Garcia said that […] [Read More]

Along with adding two more veterans to its roster of compliance experts, Ignite Consulting Partners plans to offer what the firm believes is the first free training offering of its kind. Ignite is going to host a free webinar about completing the financing and delivery of vehicles to Hispanic customers by conducting the entire education […] [Read More]

Veros Credit attributed two specific performance metrics and critical enhancements that pushed the subprime auto finance company to a record-breaking year in 2019 and boosted dealer satisfaction to an all-time high. According to a news release sent to SubPrime Auto Finance News this week, Veros Credit captured a 20% increase in contract origination year-over-year, while […] [Read More]

This year will mark “the beginning of a slight decline in total” used-vehicle sales, says Cox Automotive chief economist Jonathan Smoke. But keep this in mind: used-vehicle sales by dealerships should keep on climbing. “We believe the retail market will continue to grow as the supply shifts to higher-quality, younger and more expensive used vehicles,” Smoke said […] [Read More]

For the fifth consecutive year, the Ford-F-150 is the top-searched vehicle on autoTRADER.ca. And according to 2019 data that autoTRADER.ca recently released from its annual Top Searched Vehicles list, another truck moved into the list’s top 10 in 2019 – the Ram 1500. That vehicle climbed from spot No. 32 in 2018 to No. 7 […] [Read More]