For the first time since last fall, the auto default rate remained flat on a sequential basis. According to data through June released this week by S&P Dow Jones Indices and Experian, last month’s reading came in at 0.93 percent; the same as what analysts pinpointed for May. Analysts also noticed the rate stayed put […] [Read More]

As part of Manheim’s “Race to Give” program, Remarketing by Element is donating two emergency response vehicles to the American Red Cross. Manheim locations across the country recently competed to win the companywide “Race to Give” fundraising initiative for a chance to win a vehicle donation provided by Remarketing by Element for their local Red Cross location's disaster relief […] [Read More]

CarLotz has set up shop in Chicagoland. The used-vehicle consignment and remarketing business announced its seventh store on Wednesday, opening a location — its largest to date — in the Chicago suburb of Downer’s Grove, Ill. This is also the first location in the Midwest for CarLotz, which launched in 2011 in Virginia and has […] [Read More]

The Automotive Broadcasting Network (ABN) has been named one of Northeast Florida’s fastest growing privately-owned companies. The provider of digital signage solutions for automotive dealerships announced Tuesday that it has been named to The Jacksonville Business Journal's latest Jacksonville Fast 50 list. ABN said this win signifies its recent growth in revenue and exponential increases in both […] [Read More]

Dealers now have another option to put their inventory to work more than just having those vehicles sit idly on the blacktop. On Tuesday, HyreCar and DriveItAway announced a strategic partnership, allowing automotive retailers across the United States to access a collaborative turnkey solution to generate additional revenue through mobility as a service and shared […] [Read More]

In partnership with the National Association of Minority Automotive Dealers (NAMAD), Cox Automotive recently awarded its Rising Star Award to a Michigan general sales manager who is following in his family’s footsteps. In addition to demonstrating a strong commitment to the automotive industry, this year, William Montez Perkins II was recently honored based on nomination […] [Read More]

I’ve recently spent a considerable amount of time poring over the 2018 Non-Prime Automotive Finance Survey, which is administered annually by the National Automotive Finance Association. All who review this important survey will see the story of increasing operating expenses, alongside investments in innovation that are yielding fruit. And, while not explicitly part of the […] [Read More]

Specialty financing and associated portfolios certainly are far from elementary, which is why the topics are now going to be examined within the world of higher academics. FLOCK Specialty Finance has partnered with Kennesaw State University to create a new research lab that will analyze and interpret traditional and alternative consumer borrowing data to improve […] [Read More]

Dent Wizard International has brought aboard a former transportation company president and chief executive officer to serve as its new chief financial officer. Chosen for the position is Jim Powers, who most recently led UniGroup and its subsidiaries, United Van Lines, Mayflower Transit and other relocation and logistics-related entities, the automotive reconditioning services company announced early this […] [Read More]

When it comes to the role of mobile technology and its use among service departments today, it can help boost dealers' retention rates and help them compete for customers interested in a service experience that provides convenience, says Jim Roche of Xtime. Because of the ease that consumers can expect from their interactions at most retailers today, dealerships […] [Read More]