As Edmunds spotted interest rates on new-vehicle financing climbing to the highest level in nearly a decade, the latest auto finance data from Equifax showed severe delinquency edged up only slightly in February. According to information shared this week with SubPrime Auto Finance News, Equifax determined the severe delinquency rate — the share of balances […] [Read More]

To borrow a phrase from vehicle delivery vernacular, the acquisition of Trend Financial by Axis Auto Finance “rolled over the curb” this week. According to a news release, Axis said its acquisition of all of the issued and outstanding securities of Trend closed on Monday. “The closing of the Trend acquisition creates a powerhouse in the […] [Read More]

An initial public offering and “growth through acquisition” are on the radar for new J.D. Power new chief executive Dave Habiger Seated in front of a smattering of media members during an informal press briefing here at the J.D. Power Automotive Summit on the day after he was announced as the new CEO last month, Habiger said the […] [Read More]

Along with recapping some of the full-year used-vehicle metrics he discussed during NADA Show 2018, KAR Auction Services chief economist Tom Kontos also pinpointed wholesale price movements for February. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, wholesale used-vehicle prices in February averaged $10,707, which was 2.5 percent […] [Read More]

Karma Automotive announced Wednesday that it will run a spot featuring the Revero being driven in several Southern California locations during CBS' pre-coverage of the 2018 Masters Golf Tournament. Titled "Born in California," the spot is the company’s second network television commercial. "CBS coverage of the Masters kicks off spring for many parts of the nation, […] [Read More]

ACV Auctions announced Tuesday that the company reached over 5,000 units sold online last month, a total of more than $35 million in vehicle inventory sold. This news follows ACV Auctions’ recent February announcement that it has scored a $31 million round of Series C venture funding the company said it will use to expand […] [Read More]

Having reached more than $21 million in sales within a three-week period last month, GAA Classic Cars (GAACC) recently announced that March was the auction’s most successful month ever. GAACC hosted the Jerry and June Smith No Reserve Collection Sale late last month, just three weeks after its annual spring sale held in early March. […] [Read More]

Some of the world’s leading experts in artificial intelligence (AI), applied analytics and decision management will gather in Miami Beach, Fla., later this month for FICO World 2018. Silicon Valley analytic software firm FICO highlighted that Sebastian Thrun, chief executive officer of Kitty Hawk Corp., and co-founder and president of Udacity, as well as chess grandmaster […] [Read More]

For automotive upstarts like Shift Technologies, the retailing may be digital, but the meat-and-potatoes logistics of operating an enterprise are still very much physical. And especially when it comes to scaling that model. That often means a great deal of overhead, something Shift is looking to alleviate through a partnership with Cox Automotive that can help […] [Read More]

As another state in the Northeast established an consumer protection agency that resembles the one at the federal level, the acting director of the Consumer Financial Protection Bureau included what he called a “request that Congress make four changes to the law to establish meaningful accountability for the bureau.” Mick Mulvaney made the declaration this […] [Read More]