Runzheimer, a business vehicle technology and solutions provider, combed through more than a half dozen sources — including Manheim, Edmunds, IHS Markit and the National Automobile Dealers Association — to compile its Vehicle Capital Costs Trend Report. Firm analysts cautioned fleet managers and other auxiliary service providers that new-vehicle prices in the U.S. have risen […] [Read More]

At the close of 2017, Dealertrack Canada saw significant annual price gains for used vehicles in its network. The Average Cash Price of the Top 10 Funded Used Vehicles in its online credit application network rose by 5.23 percent compared to 2016, according to the company. Like in November, nine of the 10 top vehicles […] [Read More]

This week, RouteOne announced the addition of Fidelity Bank as an available eContracting finance source for dealers utilizing the RouteOne platform. Fidelity Bank’s financing services are available to dealers throughout the South. David Buchanan, executive vice president of indirect lending at Fidelity Bank, said, “We are excited to be a participant in the RouteOne eContracting […] [Read More]

Ally Financial is hoping a TV show personality helps the company’s education endeavors. This week, Ally Financial announced that it will team up with Danny Koker, star of the History Channel show “Counting Cars,” to launch a new trivia game aimed at promoting financial awareness during this year’s North American International Auto Show (NAIAS) in […] [Read More]

From subprime paper to slap shots, Thomas Dundon is making the transition from managing auto finance underwriting and securitizations to overseeing a professional hockey franchise that’s looking to hoist the Stanley Cup once again. Dundon, who built the subprime financing institution that eventually became Santander Consumer USA, officially became majority owner of the Carolina Hurricanes […] [Read More]

Mike Darrow will become the president of ALG on Monday, as current president and TrueCar co-founder Mike Nguyen is leaving the company on Nov. 1. In a news release Friday morning, ALG — which is a subsidiary of TrueCar — said Nguyen will remain with the company as a strategic advisor until he leaves. Nguyen co-founded […] [Read More]

There was a 1-percent hike in used-vehicle retail sales in 2017, according to Cox Automotive, which reported the year ended with 39 million used cars sold. And look for more growth this year. The company is anticipating 39.5 million used-car retail sales in 2018. As for 2017, the year closed with used-car sales climbing 4 […] [Read More]

As plush as showrooms can be sometimes, consumers often do not want to spend hours finalizing vehicle delivery, so Chase and AutoFi are collaborating to help dealers. On Thursday, Chase announced a partnership with AutoFi, a financial technology company that helps customers select and finance vehicles through their dealers’ website and reduce the time it takes to […] [Read More]

Manheim announced Thursday that its Ready Logistics and Central Dispatch solutions for dealers and commercial clients who want to transport vehicles saw significant growth last year. Ready Logistics moved over two million vehicles last year, a 14 percent year-over-year increase; and Central Dispatch supported 6.7 million vehicle moves, an increase of 34 percent year-over-year, according to […] [Read More]

Eddie Castillo, general sales manager for the subprime division for Pine Belt Cadillac in Toms River, N.J., described how much a customer who has completed financing online prior to coming to the dealership improves the entire delivery experience — especially for consumers with soft credit histories. Castillo relayed his experience as SpringboardAuto released results of […] [Read More]