Federal officials said Hurricane Michael made landfall near Mexico Beach, Fla., on Wednesday afternoon as a Category 4 storm with maximum sustained winds surpassing 150 mph. The second major hurricane to strike the Southeast during the past month prompted Cox Automotive experts again to project how many more vehicles will be lost because of intense wind […] [Read More]

Roger Penske, owner of Penske Automotive Group and multiple successful motorsports teams, will be the recipient of this year's Spirit of Competition Award from the Simeone Foundation Automotive Museum. An award gala for Penske will be held on Halloween night at the museum in Philadelphia. “No one epitomizes the ‘Spirit of Competition’ more than Roger […] [Read More]

Perhaps not surprising to dealership managers and salespeople, consumers are walking into showrooms ready for conflict. Over what? It's the retail price of that vehicle that might already be jeopardy of generating little margin — or worse — a potential net loss while also creating an anchor on the store floorplan. More details from the […] [Read More]

After five years of ownership, the average vehicle is worth about half of what its value was as a new car. But for one clear leader in the clubhouse, you can nearly cut that depreciation in two. According to an analysis from iSeeCars.com, the four-door Jeep Wrangler Unlimited loses 27.3 percent of its value in […] [Read More]

While experts consider rising interest rates impacting paper currently entering portfolios, S&P Global Ratings highlighted that collateral performance for the U.S. auto loan asset-backed securities (ABS) market improved in August on a year-over-year basis. In both the prime and subprime sectors, analysts found that annualized losses declined, delinquencies inched downward and recoveries increased from their […] [Read More]

A company that specializes in catering to customers who are low-to-moderate income individuals with soft credit histories now has the technological horsepower constructed by SpringboardAuto.com. Oportun, a technology-powered community development financial institution (CDFI), announced on Tuesday it has acquired the intellectual property and financing platform of SpringboardAuto.com, a platform designed to be a mobile-friendly, auto […] [Read More]

Sagent Lending Technologies, a joint venture between Fiserv and Warburg Pincus that was previously known as Fiserv Lending Solutions, announced last week that its VehicleLinq auto account servicing platform has been integrated into AutoIMS. AutoIMS is a technology service provider for the vehicle remarketing industry, and its platform connects commercial consignors, auctions and third-party providers.  The […] [Read More]

Scaling new technologies in the auto industry, including relatively new entrants like vehicle subscription services, can be complex. With apologies to “Field of Dreams,” you can’t just build it and hope scalability will come. Vince Zappa would know. He’s the president of Clutch Technologies, a software platform that facilitates vehicles subscriptions. Clutch has gone from […] [Read More]

With pumpkins permeating everything from lattes to yard décor, the appeal of summertime vehicles, especially sporty cars, is softening. This week’s edition of Black Book Market Insights showed the premium sporty car segment experienced the biggest drop, sliding by 0.53 percent or $209. Reviewing overall car segment values, editors found their volume-weighted information represented a […] [Read More]

Manheim says it will have invested more than $100 million in its digital platforms, through upgrades that started at the beginning of this year and will continue through 2019.  This comes amid a growing push of online wholesale sales, both at Manheim and elsewhere in the auction business. At Manheim, specifically, in the first half […] [Read More]