Experts who compile the S&P/Experian Consumer Credit Default Indices described the readings to close 2018 as a "caution signal." This week, the teams from S&P Dow Jones Indices and Experian released their default data through December, and they spotted a sizeable jump for auto financing. The December auto default rate increased 10 basis points to […] [Read More]

Before the calendar turned to 2019, Axis Auto Finance expanded its footprint to serve dealers who have potential buyers with soft credit profiles. The publicly traded, non-prime finance company announced that it has entered the Quebec market by opening an office in Montreal. Axis pointed out that Quebec is the second largest province in Canada […] [Read More]

If car-sharing, ride-hailing and car-subscription services were as widely available as traditional car ownership through purchases and leases, consumers would rely “significantly less” on traditional car ownership and new-vehicle retail sales could tumble much as 29 percent. Conversely, fleet sales would increase. So predicts Phase 3 of Cox Automotive’s Evolution of Mobility Study, outlined Sunday […] [Read More]

Kelley Blue Book Trade-In Values are now integrated into the Contact At Once! Automotive messaging platform, CAO! Connect. The integration helps create what CAO says are satisfying connections, and it builds relationships between auto shoppers and dealers by making it easier for consumers to ask questions and get information in the “micro-moments” when they shop […] [Read More]

Jaguar St. Petersburg and Land Rover St. Petersburg is the newest member of the Crown Automotive Group, and the newly constructed, 19,000-square-foot building includes various new design features. The dealer group noted the grand opening of the St. Petersburg, Fla.-based dealership will be the first Jaguar Land Rover “Arch” architectural design used in Florida. The arch […] [Read More]

Gubagoo describes itself as a provider of “conversational commerce” products for automotive dealerships and OEMs. Now, its customers can use Apple Business Chat, which Gubagoo says is a new way for users to communicate directly with businesses using the native Messages app on iPhone and iPad. The company notes the product helps consumers instantly connect […] [Read More]

ADESA president John Hammer is serious about helping with the fight against type 1 diabetes. He notes that about 40,000 people in the U.S. will be newly diagnosed with the disease, “potentially impacting some of our employees, customers, and their family members," he said. “That’s why we take our fundraising partnerships with Emkay and the […] [Read More]

Major consolidation in the fintech space unfolded on Wednesday. Fiserv and First Data Corp. announced that their boards of directors have unanimously approved a definitive merger agreement under which Fiserv will acquire First Data in an all-stock transaction. The companies said the transaction unites two premier firms to create one of the world’s leading payments […] [Read More]

Black Book responded to auto finance companies and buy-here, pay-here dealers still looking for help on how to comply with upcoming accounting changes in connection with reserving for losses. On Wednesday, Black Book released a new educational white paper titled, “Analytic-Driven Data Helps Auto Finance Lenders Mitigate Risk & Become CECL Compliant.” To recap, the […] [Read More]

Some smartphones no longer need a cord to recharge, and now Advantage GPS has a unit that doesn’t need wires to function in a vehicle connected with a retail installment sales contract held by an auto finance company. On Wednesday, the Procon Analytics company that captures and translates raw data into actionable business intelligence, launched […] [Read More]