After collaborating previously at Exeter Finance and AmeriCredit, auto finance industry veterans Mark Floyd and Kenneth Wardle are teaming up again; this time to leverage what’s happening online when consumers search for financing. According to a news release sent to SubPrime Auto Finance News this week, Floyd and Wardle have acquired an equity stake in […] [Read More]

Black Book has made the call. Spring market 2018 is finished. This week’s Black Book Market Insights report included that declaration as well as reinforcement of that stance coming via what representatives spotted in the lanes nationwide. “The spring market season is over as values show mild declines across the board. Mainstream sedans have been […] [Read More]

Beyond the residual value and consumer interest impact of the Ford sedan cuts discussed in Part I of this series, there is also the vantage point of the rental car market.  Within the wholesale marketplace, there were about 1.7 million cars exiting the rental business last year and heading for wholesale, with NAAA members selling […] [Read More]

Think of it like you would the daily ebb-and-flow of the stock market. The “initial shock” to news late last month that Ford would be discontinuing its sedan lineup could have could have some “kneejerk reaction” implications on the immediate impact to residual values for these cars, says Ivan Drury of Edmunds. But a year […] [Read More]

Automotive industry artificial intelligence-driven marketing automation platform provider Outsell says that dealers’ high demand for AI during Q1 has attributed to fast growth this year. Using its proprietary technology, Outsell’s platform captures large amounts of data to create consumer profiles that are designed to engage both customers and prospects. The company announced Thursday that the […] [Read More]

Auto/Mate Dealership Systems is preparing to host its national Customer User Summit in San Antonio from Nov. 7 to Nov. 9 at the Hilton Palacio Del Rio. The three-day fall event features breakout sessions designed to train attendees to competitively leverage Auto/Mate's dealership management system. The company announced Monday that there are open event sponsorship and […] [Read More]

Cox Automotive's Dealertrack will welcome industry controllers, office managers and chief financial officers in Park City, Utah for the company’s second ELEVATE controller conference set to begin on Monday. Along with exploring Dealertrack’s DMS 360, which was first introduced at NADA 2018 in March, from May 21 to May 24, this year’s ELEVATE conference attendees can enjoy […] [Read More]

Former Tesla vice president Diarmuid O’Connell is now a key executive at another company on the forefront of automotive innovation.   O’Connell, who was Tesla’s vice president of business development for 11 years before leaving the company last fall, has been named chief strategy officer at Fair, a provider of flexible car ownership. He will […] [Read More]

Car owners now have a new way to donate unwanted vehicles to deserving drivers and causes when researching on Kelley Blue Book’s website. KBB announced Thursday that in addition to making it easier to donate a vehicle, it has also redesigned the owners pages on its website to help consumers more confidently decide to sell or trade-in […] [Read More]

The U.S. financial market might become an even more important catalyst for car sales in Canada, too. As Canadian auto sales have been on the rise, two of the Big Six Canadian banks have turned to the U.S. term asset-backed securities (ABS) market for additional fuel, according to a report published on Monday by S&P […] [Read More]