Used-car sales have been quite hot.  In fact, not since 2012 has the July seasonally adjusted annualized rate for used cars been as high as it was last month. That’s according to the latest Manheim Used Vehicle Value Index report, which said used-car sales paced at an estimated 39.2 million SAAR last month. There was a […] [Read More]

The National Auto Auction Association’s Standards Training Program is gearing up to host a two-day-long vehicle inspections and arbitration training session in Canada this September. In just a few weeks, classes are scheduled to be held on Sept. 6 and Sept. 7 at Manheim Toronto, according to NAAA. Classes will be instructed by Manheim director of […] [Read More]

Scoop Technologies, the San Francisco-based corporate carpooling solution provider that claims to have already organized over 3 million carpools in just three years, has named a founding team member of the Chariot commuter shuttle service its new vice president of sales. Chosen for the position is Josh Weisman, who most recently led global sales and marketing at Chariot, […] [Read More]

The market fundamentals in non-prime are signaling positive. A strong economy and low unemployment are contributing to stabilization in consumer credit scores. Auto defaults are at the lowest point with one full quarter of improvements under the belt. There continue to be new auto bond issuances, and the spreads on these lowest-rated of these securities […] [Read More]

HyreCar continues to make inroads into established segments of the automotive industry. The start-up designed to create a carsharing marketplace for ridesharing and the National Independent Automobile Dealers Association (NIADA) have entered into a strategic partnership, through its alliance with DriveItAway, a current NIADA National Member Benefits partner. HyreCar’s aim is to meet what it […] [Read More]

The second half of the year started with an upturn in bankruptcy filings, and an industry leader discussed a possible reason for the movement.  According to data provided by Epiq Systems, the American Bankruptcy Institute reported total U.S. filings increased 1 percent year-over-year in July. Officials tallied up total filings at 62,196 in July 2018, […] [Read More]

Ally Financial is diversifying the industry backgrounds of its board members. Ally announced that Brian Sharples and Trynka Shineman have been appointed to its board of directors, effective last Friday. The company highlighted the two executives have deep experience with global digital companies and will bring well-established expertise in technology and innovation to Ally’s board. […] [Read More]

Toyota Financial Services didn’t look far for a replacement when one of the captive’s top leaders revealed his plan for retirement. This week, TFS announced that Mike Groff, the company’s president and chief executive officer, member of the company’s board of directors, and chief executive officer of the Americas Region of Toyota Financial Services International […] [Read More]

Group 1 Automotive has grown its portfolio of Honda dealerships to 13 in total with the recent purchase of additional Honda dealerships in both Louisiana and Texas. Group 1 announced Tuesday the acquisition of Honda of Slidell in Slidell, La., and Fernandez Honda in San Antonio. “We are delighted to expand our partnership with Honda, one of the […] [Read More]

Simply by the way they sound, the words “artificial intelligence” and “machine learning” can sound impersonal, even robotic. Ironically though, the technology itself can drive more a personalized experience in retail, especially in car shopping. Much of the discussion about the implications of AI and machine learning in automotive retail involves comparisons to other retail […] [Read More]