Edmunds determined average interest rates for both used-vehicle and new-vehicle financing dipped to their lowest levels of 2019 in May. Fueled in part by captives increasing the availability of zero percent financing, Edmunds found the annual percentage rate (APR) on new financed vehicles averaged 6.1% in May, compared to 6.27% in April. Edmunds previously indicated the […] [Read More]

ALS Resolvion, a leading provider of skip tracing and repossession management services, announced on Monday that the company has a new chief operating officer. Joining ALS Resolvion with more than 20 years of experience in loss mitigation, collections and back office operations, Scott Darling is now the company’s COO after previously serving as senior vice […] [Read More]

Part of the reason Cherokee Media Group launched the Automotive Intelligence Summit: Fintech adoption among consumers has nearly doubled over the past 18 months, according to the latest EY Global FinTech Adoption Index. EY shared on Monday that the adoption rate is growing faster than anticipated, because 64% of digitally active consumers across 27 markets […] [Read More]

Outsell, which offers an artificial intelligence-driven marketing automation platform for the automotive industry, announced Monday that Tricia Turk has been promoted to vice president of customer success, overseeing the company’s dealer success and account management teams. A three-year veteran of Outsell, the company mentioned Turk previously was director of customer success. “Tricia has been a […] [Read More]

TrueCar president and chief executive officer Chip Perry has retired, the company announced Monday morning. The company said in a news release it intends on Perry continuing in an advisory role, with Michael Darrow appointed by the board as interim president and CEO. Darrow’s current post is executive vice president of partner and OEM development […] [Read More]

Manheim is growing its Manheim Express Concierge force to personally help dealers who list their vehicles for sale through digital channels. That is just one of three enhancements to the Express mobile app that Manheim is rolling out. Manheim, noting that dealers continue turning to digital channels to buy and sell vehicles on their time […] [Read More]

As dealers scurried to meet sales objectives to close May, President Trump announced another possible tariff that automotive industry leaders and observers caution could leave significant negative impacts. Associated with what the president called the “border crisis,” the White House released a statement saying the United States will impose a 5% tariff on all goods […] [Read More]

Larry H. Miller Lexus Murray, Larry H. Miller Lexus Lindon and Larry H. Miller Lexus Spokane have received the Elite of Lexus Award for 2018, which recognizes dealers who excel in areas such as sales, service and the overall customer ownership experience. Those were just three of 16 Larry H. Miller dealerships to recently receive […] [Read More]

Volkswagen has hired dealer website and digital retailing company DealerFire to drive a new digital advertising initiative to help Volkswagen dealers increase their U.S. vehicle repair business. DealerFire, which automotive retail software company DealerSocket acquired in 2015, will offer three packages under the Volkswagen Service and Parts Advertising program. Those packages are eligible for a 50% retail […] [Read More]

PAR North America, a division of KAR Auction Services, handed out its Agent of the Year and LPR Agent of the Year, Resolution Champion and Compliance Champion, Regional Choice and other award winners during its 2019 PAR Agent Event in Indianapolis earlier this month. According to a news release sent to SubPrime Auto Finance News […] [Read More]