The Auto Intel Council (AIC) welcomed its newest member this week. Joining the collection of leading companies and experts in the auto fintech space is Wells Fargo Preferred Capital. The AIC also includes Digital Recognition Network (DRN), IBM, KAR Auction Services, Maryann Keller & Associates and MBSi Corp. The Auto Intel Council is a private, […] [Read More]

Kroll Bond Rating Agency (KBRA) looked to calm concerns that tax refunds and other possible turbulence would trigger significant disturbances within the auto asset backed securities market. Neither of KBRA’s indexes tracking at prime and non-prime ABS shifted substantially, as severe delinquencies remained relatively stable. Securitized auto loan credit performance in March improved across virtually […] [Read More]

Dent Wizard International rebranded one of its divisions this week in an effort to sharpen its image with dealerships, finance companies and fleet operators. The provider of automotive reconditioning services and vehicle protection products introduced Evolution, Vehicle Protection by Dent Wizard, a branding of its F&I business unit. The company highlighted Evolution will become the […] [Read More]

Gubagoo, a “conversational commerce” company for auto dealerships and OEMs, launched its Virtual Retailing service in February, describing it as a digital retailing service for automotive dealerships that is built on messaging and live video interaction. But on Monday, the company announced it has “successfully launched” Virtual Retailing with U.S. dealerships. In a separate announcement on […] [Read More]

In the Used Vehicle Outlook report from Edmunds is a graph with Google Trends data showing relative search interest for certified pre-owned vehicles since 2013. While there have been ebbs and flows throughout the past six years, the general trend line has been a gradual climb in CPO relative search interest, according to the Google […] [Read More]

A new agreement between research company J.D. Power and an industrial artificial intelligence and IoT software company will allow J.D. Power to “provide insight into the behaviors and failure modes of millions of connected devices,” according to J.D. Power’s president and chief executive officer, Dave Habiger. J.D. Power and Chicago-based Uptake Technologies will team to develop […] [Read More]

How vehicles move through the wholesale market continues to evolve as evident by the new remarketing partnership announced on Tuesday by Auto Financial Group (AFG) and CarLotz. Through this relationship, AFG highlighted that its clients will have access to a comprehensive remarketing solution that’s designed to simplify their process and place vehicles for sale through […] [Read More]

While edging lower on a sequential basis, Black Book’s Used Vehicle Retention Index for March came in higher than a year ago, reflecting how the ongoing spring market has behaved. On Tuesday, Black Book released its index for March, and the reading stood at 113.8, representing a 0.6% dip from February when it was 114.5. […] [Read More]

The American Bankruptcy Institute reported that the first quarter closed with a decline in bankruptcy filings. According to data provided by Epiq Systems, total bankruptcy filings in March decreased 3% year-over-year. The 73,476 total filings in March were down from the 76,060 total filings during the same month in 2018. Consumer filings also decreased 3% in March […] [Read More]

What the attorneys general in Massachusetts and Delaware alleged as “unfair” auto financing is going to cost Exeter Finance a little more than $6 million in payments back to customers and state penalties. According to a news releases distributed late on Monday, Massachusetts attorney general Maura Healey announced Exeter agreed to a settlement and “will […] [Read More]