A company with its roots in the buy-here, pay-here space is continuing to expand an artificial intelligence-powered financial services platform serving Hispanic consumers. Tricolor recently announced an exclusive agreement with Phenx Machine Learning Technologies. In early testing, Tricolor’s newly AI-enabled algorithm demonstrated enhanced underwriting accuracy and the ability to rapidly scale to score massive amounts […] [Read More]

Auto finance defaults rose for just the second time this year in October. But the 3-basis point rise is only a fraction of the largest uptick analysts from S&P Dow Jones Indices and Experian have seen during the past 36 months. Data through October for the S&P/Experian Consumer Credit Default Indices showed the auto-finance reading […] [Read More]

The International Automotive Remarketers Alliance had a golf outing planned for its 2018 IARA Summer Roundtable in August, and decided to use the event to honor Ken Osborn, the late general manager of ADESA Dallas who passed away early this year, and dedicate the net proceeds in his memory. Less than two months later, that […] [Read More]

XLerate Group Auctions has made two moves that the company’s chief executive says help the auction group “continue leading independent auctions beyond their physical lanes.” XLerate promoted Kelly McAllister to serve as executive director of digital strategy, while also hiring a digital manager of remote markets. Named to that position is Keith Fetz, who most recently […] [Read More]

UPDATED: Sixth paragraph corrected for clarity.  Jim Hallett talked about a lot more than just TradeRev during KAR Auction Services’ recent earnings call. During the third-quarter 2018 report discussed on Nov. 7, the KAR chairman and chief executive covered the company’s 11-percent third-quarter 2018 revenue increase, the proposed spin-off of its Insurance Auto Auctions (IAA) business, the […] [Read More]

AutoTec has added a new provider to its AuctionACCESS floor plan platform. The company announced earlier this month that XL Funding has been integrated into the platform, which gives XL Funding the ability to automatically send updated credit availability and flooring request messages to auctions that subscribe to AuctionACCESS. “With this integration, AuctionACCESS is now […] [Read More]

Overall used-car retail sales were up slightly more than 5 percent year-over-year in the third quarter, with franchised dealers, in particular, increasing sales by 2.37 percent, according to a report from Edmunds. But certified pre-owned sales in Q3 dipped modestly (1.20 percent) from the year-ago period. These were just some of the data points shared […] [Read More]

Not since the high-flying days of Michael Irvin, Troy Aikman and Emmitt Smith has Dallas … hosted the National Automobile Dealer Association convention. After a 28-year absence, Dallas will be the site of NADA Show in 2023, the association said Monday in a blog post. NADA held its annual convention there in 1995 and 1992. […] [Read More]

CarGurus is now a certified vendor in Jaguar Land Rover Retailer Marketing Program, making the online car marketplace a top recommended option for the automaker’s dealers for listings, search engine marketing and co-op programs. Jaguar Land Rover dealers can now tap into 100-percent co-op program reimbursement on all CarGurus products, with the reimbursement program being […] [Read More]

Subaru and Jaguar topped the overall mainstream and luxury brand categories, respectively, in ALG’s third annual Pre-Owned Value Awards announced last week, while Nissan and Mercedes-Benz led the individual model portion with three wins each. The 2019 Pre-Owned Value Awards, also known as POVAs, recognize the 2-year-old used vehicles that are expected to have the […] [Read More]