Last week, Consumer Portfolio Services announced the closing of its first term securitization of 2018.  Officials highlighted the transaction is CPS’ 27th senior subordinate securitization since the beginning of 2011 and the 10th consecutive securitization to receive a triple “A” rating on the senior class of notes from at least two rating agencies.  In the […] [Read More]

You can expect to see nearly 96 million new-car sales across the globe this year, which would represent slower growth but still a record tally. That’s according to a global forecast released Jan. 11 by IHS Markit. Full-year results from 2017 were expected to show 94.5 million new-car sales, which would be a 2.4 percent […] [Read More]

AutoAlert announced Thursday that long-time Ford Motor Co. executive Jim Benintende has joined the company to serve as its chief operating officer. At Ford, Benintende oversaw a business unit made up of 67 countries and 3,800 employees as the first president of its Middle East and Africa (MEA) business unit, which he led from 2013 until August of 2016. During that time, […] [Read More]

Dealers must streamline the in-dealership car-buying experience and change to allow web-savvy consumers to complete one or more steps of the purchase process online, according to Cox Automotive’s “Future of Digital Retail Study.” The study was released Jan. 14 as part of a press briefing just prior to the opening of the North American International Auto […] [Read More]

The management team at defi SOLUTIONS now has a sizeable amount of resources to deploy an aggressive growth plan. On Friday, defi SOLUTIONS announced it has raised $55 million in a Series C investment from Bain Capital Ventures. Executives highlighted the investment is comprised of primary and secondary capital. They explained the primary capital will be […] [Read More]

TagRail announced the general availability of its digital retail platform on Thursday. The dealer-customizable and brandable online car-buying tool can help dealerships attract, engage and close more online shoppers via a near-total in-home shopping/buying experience, the company said. “Our goal is to have the consumer complete about 90-95-percent of the transaction at home online and to […] [Read More]

AuctionVcommerce recently announced the release of its Dealer Service Center tool, which is an independent-auction-branded customer interface that is designed to give dealers and consignors the ability to expedite requests directly to any auction department. The company said that it is releasing the system to all of its members as a targeted communication strategy for […] [Read More]

Larry H. Miller Dealerships announced the opening of its Mercedes-Benz of Draper dealership on Thursday. The dealership was formerly named Mercedes-Benz of Lindon and recently relocated to a newly built 45,069-square-foot building on 5.5 acres of land in Draper, Utah. Mercedes-Benz of Draper includes a 1,100-square-foot AMG Performance Center, with specially-trained AMG sales and service personnel, according […] [Read More]

Black Book determined full-year vehicle depreciation for 2017 didn’t quite reach the level editors saw for the previous year. According to Black Book data, the average price of a used vehicle for model years 2012 through 2016 depreciated in value by 2.9 percent during the close month of 2017. Editors indicated overall cars values dropped […] [Read More]

The National Automotive Finance Association is teaming with Hudson Cook and Compli for a free webinar in an effort to answer some questions likely on the minds of leaders at dealerships and finance companies. A trio of experts is looking to project how fair lending issues may be handled during the second year of the […] [Read More]