While many economic and auto-finance metrics moved up or down during the first half of 2019, the American Bankruptcy Institute discovered total bankruptcy filings were not among those trends. According to data collected by Epiq Systems, ABI reported that total bankruptcies through June came in nearly unchanged, producing just a 0.04% increase. The 388,463 filings […] [Read More]

Colonnade Securities offered an extended examination of the below-prime auto finance industry this week, identifying what the independent investment bank focused on the financial services and business services sectors believes are four factors currently impacting the space most. According to the report, the fundamentals of the below-prime auto finance industry have not deteriorated significantly, but […] [Read More]

A new automotive site that made its national U.S. launch on Tuesday says it offers fleet-like pricing by grouping buyers and lessees around the United States by the brand of car they want and placing them in a national “bucket.” Through the site, CarBuckets.com, car dealerships nationwide compete for the business of that group, and […] [Read More]

Noting George Hines’ leadership in activating the Lithia store network with digital services to reach 80% of consumers nationwide, Lithia Motors has promoted Hines to senior vice president, chief innovation and technology officer. Lithia Motors president and chief executive officer Bryan DeBoer said in a news release that the company’s internal investments and strategic partnerships […] [Read More]

Digital auction platform TradeRev has integrated two new in-app features, including “Buy Now,” which company president Becca Polak says opens a second-chance marketplace for buyers and sellers. Polak says the second feature, Third Party Inspected, provides an additional layer of trust for dealers, “so they can buy with confidence.” TradeRev, a business unit of global […] [Read More]

Data and technology that power vehicles now and into the future must be protected from misuse, abuse and malicious mayhem. That was the consensus of panelists, speakers and others who attended cybersecurity sessions held as part of TU-Automotive Detroit’s automotive technology conference and exhibition in suburban Detroit, June 5-6. TU-Automotive Detroit provides a platform for […] [Read More]

CarLabs.ai, which counts three automakers and one of its captives among clients, recently added former J.D. Power and Affinitive leaders to meet rapid user growth. CarLabs.ai, best known for creating Kia's AI-powered digital assistant Kian, recently added three new automakers to its existing client roster of six, including, Kia Motors America, Kia Motors Mexico, Kia […] [Read More]

This week, Credit Union Leasing of America (CULA), launched a redesign to its proprietary lease management system, Seamless Lease Connection. In an effort to leverage the U.S. vehicle leasing market that totals $64.6 billion according to Experian, CULA highlighted the upgraded Seamless portal features several enhancements and is now accessible anywhere with an Internet connection. “With […] [Read More]

ALS Resolvion is reinforcing its commitment to being a mobile company, citing two specific reasons for an updated strategy. The provider of national repossession management services recently announced that it has fully implemented what the company believes is the industry’s first “mobile only” policy. Under this new policy, ALS Resolvion said it will provide involuntary […] [Read More]

An executive who has been with Consumer Portfolio Services for nearly 18 years is now the subprime auto finance company’s chief operating officer. According to an announcement sent to SubPrime Auto Finance News on Tuesday, CPS promoted Michael Lavin to be COO of the company that’s been working with franchised and independent dealers nationally since 1991. […] [Read More]