One of the signature moves by ESPN college football commentator Lee Corso when trying to emphasize a point includes holding up a pencil and telling his colleagues on the TV program, “Not so fast, my friend!” Well, KAR Global chief economist Tom Kontos did a bit of an impersonation this week when sharing the company’s […] [Read More]

While still much softer than year-ago levels, June’s used-car sales are expected to climb 16% month-over-month, according to the latest forecast from TrueCar subsidiary ALG. And conditions could improve further in pre-owned, with additional supply on the horizon, financing deals and attractive prices. Plus, the initially heavier impact on used from COVID-19 compared to new […] [Read More]

A pair of Jaguar Land Rover dealerships each described positive experiences using tools from Digital Motors. And now more franchised stores for those luxury OEMs can choose to use the same solutions as Digital Motors announced on Thursday that the company has been named a certified vendor for the Jaguar Land Rover Digital Certified Program. […] [Read More]

One of the hardest parts of running a business is finding good help. I imagine most dealers agree with that statement. I think that is part of the difficulty, you are looking for help. A warm body to fill a spot. You do need people to help you, but they should not be seen as […] [Read More]

Auction sales volumes in the Canadian wholesale vehicle market are back to being at roughly 70% of where they would normally be, following another round of “significant growth” last week, according to Canadian Black Book. And further gains are likely over the next few weeks, CBB said in its weekly COVID-19 Market Update released Tuesday. […] [Read More]

This week, Dealer.com enhanced its relationships with both Ford and Honda. The Cox Automotive division first announced it has been selected as a premier partner in the FordDirect Advantage Digital Advertising Program. Then, Dealer.com highlighted that it has been selected as a choice Honda website and digital advertising provider through the Honda Digital Customer Experience. […] [Read More]

Fitch Ratings spotted another place where improving vehicle sales has been good for the automotive industry. Analysts reported this week that dealer floorplan (DFP) asset backed securities (ABS) trust performance metrics — including monthly payment rates (MPR) — have rebounded on the back of new U.S. auto sales rising in May and early June off […] [Read More]

The coronavirus pandemic sabotaged another merger in the financial-services space. Late Wednesday, Ally Financial and Cardholder Management Services (CardWorks) announced that they have mutually agreed to terminate their merger agreement, which had been first disclosed on Feb. 18. According to a news release, the board of directors for each company approved the termination after carefully […] [Read More]

Launcher Solutions president Nikh Nath joined the podcast to share his views about a topic relevant not only to auto financing, but also likely all segments of the automotive space nowadays. Nath, whose company is a technology provider specializing in loan originations, described the growing awareness of risk mitigation in light of many business functions […] [Read More]

Through a partnership with Manheim Digital, Carvana has launched an online wholesale platform, CarvanaACCESS, that allows dealers to buy wholesale vehicles directly from the company. Carvana locations process consumer trade-ins and other wholesale units, which then go into a timed-bid auction on CarvanaACCESS.com.  Cars in that auction, which is powered by the Manheim Digital partnership, […] [Read More]