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]

While experts are seeing a softening of consumer interest in new cars, Black Book is noticing the values for traditional two-door and four-door vehicles are keeping wholesale prices stronger than what’s typically witnessed during the summer. More evidence of current trends arrived on Monday through Black Book, which released its latest Used Vehicle Retention Index. […] [Read More]

Bernie Moreno Companies (BMC) has made an investment in the Dryver personal driver service to help the company boost activity in current markets and support new growth. The BMC dealership group announced Monday that it has partnered with Dryver to expand its business, but details and terms of the investment and partnership have not been disclosed. […] [Read More]

On each day of this year’s upcoming National Auto Auction Week, a 2018 Chapter Auction of the Year Award winner will be announced as a finalist in the running for NAAA’s Auction of the Year Award for Excellence in Community Service. In a recent letter to NAAA members, National Auto Auction Association president Warren Clauss […] [Read More]