Within the next 12 months, Canadian automotive dealers say that they mostly need to fill positions in service, sales and leasing, and just about 45 percent plan to fill six to 20 positions, according to a nationwide survey. Just about 84 percent of Canadian dealers told the Canadian Automobile Dealers Association (CADA) that they are […] [Read More]

Global Lending Services, Credit Acceptance and Consumer Portfolio Services all have been active in the securitization space during the past 60 days; moves by the subprime auto finance companies that involved more than $1.1 billion in value. The most recent move arrived this week as Kroll Bond Rating Agency (KBRA) assigned preliminary ratings to four classes […] [Read More]

KAR Auction Services has appointed former Cars.com mobile product leader Joe Oliveri new vice president of the company’s Autoniq business to replace Nicole Archer, who was recently named VP of international business development for KAR. Oliveri most recently served as Cars.com senior director of product and has spent time in other leadership roles at the digital automotive marketplace […] [Read More]

An official from the Consumer Financial Protection Bureau described this week’s moves as “transforming the way we engage.” Meanwhile, members of bureau’s Consumer Advisory Board called it a “firing.” The contrasting views about this segment of the regulator surfaced through a CFPB blog post and a news release distributed by the National Consumer Law Center. […] [Read More]

The American Bankruptcy Institute reported May filings dropped both on a sequential and year-over-year comparison. According to data provided by Epiq Systems, total U.S. bankruptcy filings came in at 67,307 in May, representing a 4-percent decrease from the same month last year when 69,732 cases were filed. Officials indicated the 63,982 consumer bankruptcy filings in […] [Read More]

Cox Automotive discovered two trends originating in May that might frustrate some dealerships, especially stores that might have landed a bit short of monthly goals. In May, wholesales prices moved higher as used-vehicle sales softened. Before used-car managers reach for their stress balls, here are the specifics. Cox Automotive determined wholesale used-vehicle prices (on a […] [Read More]

Automotive strategy consultancy Maryann Keller & Associates will be researching the effectiveness of franchised dealer advertising in a new study announced Thursday. The project will examine the possible correlation between lower new-car profit margins and the move towards digital advertising. The firm’s principal, Maryann Keller, will be among the keynote speakers at the Automotive Intelligence […] [Read More]

Just 48 hours after opening its 10th car vending machine in the Washington, D.C. area, Carvana announced Thursday that its 11th Car Vending Machine is now available in Orlando, Fla. Carvana’s latest car vending machine joins two other Sunshine State locations in Jacksonville and Tampa. Standing eight stories high, the new Orlando car vending machine can […] [Read More]

The dealer advisory board for Joydrive has now landed two of the nation’s top dealers, including the chair of the Texas Automobile Dealer Association, whose stores will also list their inventory with the online car sales startup. Classic Chevrolet dealer principal and TADA chairman Tom Durant has joined Don Fleming of independent dealership Northwest Motorsport as […] [Read More]

Dave Kennedy and Les McCook of the American Recovery Association shared some vivid anecdotes originating from meetings with Jack Tracey and Joel Kennedy of the National Automotive Finance Association along with leadership of close to 30 finance companies with large and small portfolios. “They saw the hardship that was being placed upon their vendor network. […] [Read More]