Used-car sales for October are likely to climb nearly 4% year-over-year and tick up modestly from September, according to a sales forecast released Monday by ALG. Specifically, ALG is forecasting 3,439,074 used-vehicle sales for the month. That would beat October 2018 sales by 3.7% and September sales by 0.2%. The resulting year-to-date tally would be […] [Read More]

As vice president of commercial sales for Manheim since 2017, Holly Capps developed and executed a sales strategy that Cox Automotive says brought in almost $2 billion in annual revenue. The company said she grew business with key strategic clients. On Monday, the company announced it has promoted Capps to senior vice president of Manheim […] [Read More]

While some overall metrics in the U.S. auto loan asset-backed securities (ABS) sector demonstrated seasonality, S&P Global Ratings also spotted some improvements in recoveries for both prime and subprime. According to its latest report, U.S. Auto Loan ABS Tracker: August 2019, analysts noticed prime recoveries improved to 58.99% in August from 58.50% in July and […] [Read More]

In the competitive and evolving world of auto finance, TransUnion and IHS Markit acknowledged that finance companies require the ability to conduct powerful statistical queries to gain a more comprehensive understanding of the market. On Monday, TransUnion and IHS Markit announced the launch of the Catalyst for Insight – Credit Module; a solution they believe […] [Read More]

The image associated with this report provides a vivid glimpse of what a luxury automaker and its captive finance company are trying to do. Last week, MINI USA and MINI Financial Services announced the introduction of Flipped Financing, a vehicle financing program that can help franchised dealers put consumers at the heart of what the companies say […] [Read More]

The Flamboyan Foundation believes all children deserve the opportunity to live a fulfilling life. The foundation works to ensure every U.S. and Puerto Rico child has an opportunity for a strong education. Volkswagen of America says it believes in the importance of education, and it supports causes like the Flamboyan Foundation. That support continued on […] [Read More]

Technology company Driven Data has launched its next-generation automotive industry marketing platform, stating that it uses “prescriptive marketing” to help dealers “unlock the power of their existing operational data to inform marketing decisions.” The company says its platform powers advanced features such as its budget optimization engine. The engine optimizes daily spending based on a […] [Read More]

After discussions and negotiations that spanned “several years,” Columbus Fair Auto Auction (CFAA) became part of the XLerate Group on Friday afternoon. During a phone conversation with Auto Remarketing just a couple of hours after the acquisition closed, XLerate chief executive officer Cam Hitchcock conveyed a message to customers of CFAA, an auction that’s been […] [Read More]

An extra hour of sleep is nice. But according to a recent survey from Autolist, the negatives of daylight saving time outweigh the positives. That is especially true when it comes to people’s daily commute, according to the survey. Six percent of survey respondents said they had been in a car crash that was the […] [Read More]

Contained in the same report that highlighted used-vehicle retail sales, the midyear version of NADA Data 2019 released by the National Automobile Dealers Association (NADA) highlighting the average earnings of employees at franchised dealerships. This year’s report shows that, as of the end of June, the country’s 16,741 franchised light-vehicle dealerships in the United States […] [Read More]