Some individuals find riding motorcycles exhilarating, especially as they gain more experience with the machines. But just like with vehicles, sometimes these individuals do not keep up with their financial responsibilities mandated in a contract, triggering a repossession. As an executive who has spearheaded growth of powersports leasing as well as streamlining processes for when […] [Read More]

Coinciding with the finance company’s enhanced relationship with Carvana, Ally Financial on Wednesday announced that Dinesh Chopra has joined the company as its new chief strategy officer. In his newly created role Chopra will lead Ally’s corporate strategy team, helping to foster its growth and evolution as a leading digital financial services provider and define […] [Read More]

The Federal Trade Commission flexed its regulatory muscle again this week. Officials said a southern California-based dealership group will pay $1.4 million to settle FTC charges that it violated a 2014 administrative order prohibiting the company from misrepresenting how much consumers could pay to finance or lease a vehicle. The proposed court order resolving the […] [Read More]

For the fourth consecutive year, Enterprise ranks highest in overall customer satisfaction in the J.D. Power North America Rental Car Satisfaction Study released Wednesday. Enterprise has a score of 851 followed by National, Alamo and Hertz, with scores of 846, 828 and 822 respectively. Despite increased airport passenger congestion and construction at airports, overall consumer […] [Read More]

Warren Clauss knows first-hand that auction industry jobs can lead to dynamic careers. The former certified public accountant snagged the controller job at the Auto Dealers Exchange Buffalo, in Akron, N.Y. — then owned by ADESA founder Mike Hockett, who went on to found Auction Broadcasting Co. — when the site opened in 1992. Two […] [Read More]

Ally Financial said Tuesday it is increasing the amount it is providing Carvana to finance retail contracts by $1.4 billion. Back in January, Ally had initially committed to provide $600 million for retail financing for the online car-buying platform; over the next 12 months, that figure will increase to $2 billion. With the agreement, Ally […] [Read More]

While automotive comes in as the industry least likely to be complained about in a top 10 list of industries most complained about on social media, the industry still has room to improve its response time, shows recent consumer data from Sprout Social. “People don’t buy cars everyday — so while maintenance issues and product […] [Read More]

Whether it’s just a momentary slowdown or the sign of a longer-term dealer trend, Black Book watched vehicle depreciation slightly intensify as store managers opted not to load up on potential inventory coming through the auction. The latest Black Book Market Insights report shows both car and truck segments decreasing more in value than usual. […] [Read More]

The same week she was named president of Cox Automotive Inventory Solutions, Grace Huang joined the Auto Remarketing Podcast, along with Cox Automotive's Nick Peluso. In this late-September interview, they join Joe to talk auction strategy at Manheim, RMS Automotive, autonomous vehicles, digital strategies and more. Check out the conversation below. Download and subscribe to the Auto Remarketing Podcast […] [Read More]

Entrepreneur George Chamoun is driven by his desire to change the wholesale industry via technology as head of ACV Auctions. After graduating from the University at Buffalo in 1997, the North Syracuse, N.Y., native would go on to launch technology and services company Synacor with his college roommate Darren Ascone, a year later. Chamoun, an […] [Read More]