Lithia Motors announced on Monday that it has acquired Williams Automotive Group’s Honda and Toyota stores in the greater Tampa, Fla. market, widening its already large "coast-to-coast network."  Lithia Motors president and chief executive officer Bryan DeBoer said the new partnership increases the company’s national coverage, which he said now reaches nine out of every 10 […] [Read More]

Fueled in part by blossoming relationships with industry players such as CarGurus, Westlake Technology Holdings recently announced that it reached $10 billion in assets under management milestone ahead of its targeted goal of hitting the milestone in 2022. Westlake responded by setting a new goal of $20 billion in assets. When does the company want […] [Read More]

Both Toyota Financial Services and Wells Fargo put initiatives in place to help their customers affected by the recent series of wildfires throughout California, as well as the tornadoes that struck northern Texas last month. The Toyota captive announced in a news release that it is offering payment relief options through a broad outreach that […] [Read More]

Does more data mean more problems? You might arrive at that conclusion based on information from a new Aite Group study commissioned by TransUnion. Across the globe, companies are amassing volumes of data with the intent of optimizing performance, identifying trends and meeting rising consumer expectations. Yet this new research showed nearly 75% of financial […] [Read More]

Market Scan Information Systems and Experian recently released a solution for finance companies that want to know what underwriting strategy their competitors might be using to add to their portfolio. Through a collaboration, Experian and Market Scan will offer mGauge, what they described as a state-of-the-art analysis tool for finance companies hoping to gain more […] [Read More]

Brett Woods, who is vice president of Assurance at Manheim, sat down with senior editor Joe Overby at the recent NAAA Convention in Indianapolis for an episode of the Auto Remarketing Podcast. They talked about the growth in services like post-sale inspections, condition reports, imaging and more, and the impact of digital remarketing in this field. Hear […] [Read More]

Ally Financial provided some insight on Monday in connection with potential buyers arriving at your dealership showroom or store website, especially individuals who already might be weary from new-vehicle sticker shock. Ally pointed out used vehicles are increasingly popular with Americans as consumers turn to the used market for more affordable options, but a recent […] [Read More]

Steve Solomon spent the first decade of his career in the finance group at the former Chrysler Corporation, and a job in used-car pricing gave him his “first taste” of the auto-auction business. Solomon would go on to hold other finance roles within the fleet organization at Chrysler, but when an opportunity came up in […] [Read More]

NextGear Capital has a new president. Parent company Cox Automotive announced Monday that Scott Maybee, previously the general manager of Manheim Northstar Minnesota, is the new leader of the inventory finance company, a move effective today. Maybee will report to Cox Automotive executive vice president and chief financial officer Mark Bowser. “At Manheim, Scott successfully […] [Read More]

NIADA Certified Pre-Owned on Wednesday introduced the NIADA CPO Daily Rental Vehicle Program, which leaders say can bring increased service revenue to independent dealers. Scott Lilja, who is senior vice president of member services at the National Independent Automobile Dealers Association, said the new program offers the association’s dealer members improved efficiencies “and an outstanding complement to our […] [Read More]