While the year-over-year comparison showed a decrease in consumer filings, the American Bankruptcy Institute (ABI) found that individuals seeking this financial protection climbed again in August. According to data provided by Epiq Systems, consumer bankruptcy filings rose on a sequential basis in August as there were 63,141 consumer filings. That figure is 4% percent higher […] [Read More]

Affordability continues to remain top-of-mind for most participants in and observers of the automotive industry. However, Experian explained consumers appear to be making due even as some industry pundits continue to be concerned that consumers can’t handle larger payments. To reinforce its point that the data tells a different story, Experian released its Q2 2019 […] [Read More]

Preferred Warranties Inc., also known as PWI, was established in 1992 and offers extended service contracts to more than 3,000 independent automotive dealers. The company, which is a business unit of KAR Auction Services, has expanded into the Los Angeles, Minneapolis, Alabama and Mississippi markets. PWI has also placed dedicated sales consultants in those locations. The company […] [Read More]

In order to succeed in today’s increasingly digital world, dealerships need a digital marketing strategy that attracts shoppers and ultimately turns them into buyers. But with so many tools and channels to choose from, it can be challenging to know where to start and how to create a digital strategy that works for your dealership. […] [Read More]

A lengthy purchasing process, price negotiation, hidden fees, confusion and lack of transparency, distrust in salespeople, getting a good trade-in offer, and understanding financing options. Those are some of what Pfaff Automotive Partners says are top auto buyer frustrations. The company has introduced a new vehicle purchasing model that it says will help those in […] [Read More]

LotLinx named Sean Peoples as chief revenue officer. Peoples was previously with CarGurus for six years, and he worked with founder Langley Steinert to build and grow the sales team at that company. Prior to that, Peoples led Edmunds’ move to direct dealer sales, tripling that business line’s revenue in the first 12 months of […] [Read More]

At the touch of an app with the Porsche Passport monthly subscription plan, members get unlimited swaps between models. Porsche Passport conducted a U.S. pilot program in Atlanta and will expand to Las Vegas, Phoenix and San Diego. Now, the exclusive monthly subscription is available in Toronto through Porsche Cars Canada. Porsche Cars Canada says it will […] [Read More]

HGreg.com president John Hairabedian says his dealership group is committed to Florida. An example of that commitment came on Tuesday, as HGreg.com announced it has acquired a new location in West Palm Beach. Construction has already begun on the 9.7-acre property close to Palm Beach International Airport. The site will become the future home of […] [Read More]

Using blockchain to compute residual values appears to be unfolding in China with a high-line brand that often heavily depends on the metric. According to a recent news release, PlatON has developed a bespoke blockchain-based vehicle residual value management platform for the used-car business line of Beijing Mercedes-Benz Sales Service Co. (BMBS). Officials with the global privacy-preserving […] [Read More]

A recent survey by Synopsys further reinforced the challenge the financial services industry is having with maintaining its cybersecurity and other matters related to fraud and the compromising on consumer data. Based on a survey of global financial services organizations conducted by Ponemon Institute, Synopsys’ report highlighted the industry’s security posture and its ability to […] [Read More]