Effective Aug. 12, AutoCanada will have a new chief financial officer. The North American multi-location dealership group currently operating 65 franchised dealerships, comprised of 27 brands, in eight provinces in Canada as well as a group in Illinois, appointed Mike Borys as CFO. AutoCanada highlighted that Borys is a chartered accountant with more than 20 […] [Read More]

The Justice Department received guilty pleas from an east Texas buy-here, pay-here dealer, his wife and son in connection with a scheme to use the dealership as a cog in an illegal gambling machine that lasted more than 30 years. The trio pleaded guilty to federal violations in a case investigated by Homeland Security Investigations […] [Read More]

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]