S&P Global Ratings indicated the U.S. auto loan asset-backed securities (ABS) market remained “healthy” last year and started 2020 on “solid ground.” But a separate report from Kroll Bond Rating Agency (KBRA) showed auto loan ABS credit performance softened in January, as net losses and delinquencies rose in both KBRA’s Prime and Non-Prime Auto Loan […] [Read More]

In January 2019, The Ed Morse Automotive Group purchased seven Dallas-market franchises and was impressed with its acquired workforce, said Ed Morse Automotive Group chairman and chief executive officer Teddy Morse. Morse said his company was also impressed with the franchises’ “local passion for cars and how warmly we were welcomed to the community. “It […] [Read More]

KAR Global chief client officer and longtime auction industry executive Tom Caruso plans to retire this month, the company announced Wednesday. Caruso’s four decades in the auction business has included time as ADESA’s president and chief executive officer, its chief operating officer and president of the National Auto Auction Association, among other posts. “Tom is […] [Read More]

Vehicle buyer and seller marketplace IAA has completed the integration of SpinCar Feature Tour into its online auction platform, and the company says buyers will be able to quickly identify features and options present on each listed vehicle. IAA said the integration enhances the recently launched IAA 360 View. In addition, it further expands the […] [Read More]

The National Independent Automobile Dealers Association has designated professional services firm CLA (CliftonLarsonAllen LLP) as a bronze-level national corporate partner, and CLA says the partnership will help the organizations address tax and accounting issues most crucial to independent dealers. CLA and NIADA can work together to reach important IRS and political influencers to benefit NIADA […] [Read More]

While the overall reading made just a modest rise month-over-month, Black Book spotted a couple of elements within its February Used Vehicle Retention Index that analysts deemed to be a bit “surprising.” This week, Black Book released its latest index update, reporting that the overall reading from February came in at 115.2, representing a rise […] [Read More]

Along with the opportunity to reconnect with other industry operators, the American Recovery Association is using this year’s North American Repossessors Summit to unveil a new program that’s been in development for several years. During NARS 2020, the association will be debuting its new program — ARA University — an initiative to help members position […] [Read More]

On Wednesday, LexisNexis Risk Solutions highlighted three primary findings from its Cybercrime Report covering activities from July through December of last year. The company indicated the findings crystalize how fraud has increasingly become borderless on a global scale. As the report analysis showed, LexisNexis Risk Solutions said cybercrime is a well-organized, global endeavor powered by […] [Read More]

Your potential customer has what could be a great trade; a vehicle that will stand tall on the front line and probably turn quickly. But then that vehicle is involved in an accident. To help all parties involved, Dealer Owned Warranty Co. (DOWC) this week introduced Value Protect, an option in a retail installment contract […] [Read More]

Experienced dealership managers and finance company executives might remember a juncture when subprime permeated much of used-vehicle financing. People with softer credit profiles opted for less-expensive used vehicles with a contract they could manage and risk that the provider deemed to be prudent. Times, they are changing. Experian’s newest State of the Automotive Finance Market […] [Read More]