It’s time again when SubPrime Auto Finance News engages with the industry for one of our most successful annual projects — "The CEO Issue." In an ongoing effort to recognize the chief executive officers who are flourishing in today’s competitive marketplace, SubPrime Auto Finance News is asking the industry to nominate the CEOs of auto […] [Read More]

AutoNation opened three standalone used-car stores in 2017, rolled out its fourth in January and has plans to open its fifth AutoNation USA location — this time in Las Vegas — by the end of this quarter. What’s more, the retailer is making additions on the wholesale side of pre-owned, too, with plans to open […] [Read More]

Carvoy's co-founder and chief executive officer says he decided to launch Carvoy Ignite for dealerships after his startup was able to understand just how car shoppers operate online. “When we first started leasing cars online, we facilitated the entire transaction on our own website,” explained Daniel Yuabov during a January phone interview with Auto Remarketing. “We basically wanted […] [Read More]

AutoLoop announced Friday that its proprietary service platform is now a Hyundai certified Service Lane Technology solution. Via the integration with the AutoLoop system, U.S. Hyundai dealers can modernize the service retail experience to help increase both profitability and customer satisfaction, the company said. “Given that 94 percent of customers today say their service experience […] [Read More]

Penske Automotive Group will expand its standalone, used-vehicle supercenter footprint with three new used-car stores in the U.S., said chief executive Roger Penske. The company will open the greenfield sites under its U.S. brand, CarSense, which operates five used-car supercenter locations in Pennsylvania and New Jersey. The first new location will be in Phoenix and […] [Read More]

As AutoGravity continues to build its roster of OEM captive clients, the FinTech firm specializing in mobile auto financing availability strengthened its executive team, as well. The latest personnel announcement included AutoGravity appointing Meesh Pierce as vice president of product management. “Meesh is a seasoned leader with deep expertise in building industry-changing products. And with […] [Read More]

Hyundai Motor America announced Friday that its Hyundai Shopper Assurance program that is designed to give car buyers an easier and faster way to make a purchase or lease will be available nationwide. Following its initial launch in four markets late last year, Hyundai said the program is set to roll out at participating dealerships […] [Read More]

The Blue Oval’s captive is pleased with how its subsidiary is performing while making inroads to serve consumers who want an alternative to securing a vehicle without the commitment of a retail installment contract or leasing agreement. Executives from Canvas — the Ford Motor Credit subsidiary offering what they believe is a convenient and hassle-free […] [Read More]

With regulators such as the Consumer Financial Protection Bureau issuing official requests for information about the implications of rules, investigations and enforcement actions, a sterling example might have arrived from BB&T Dealer Financial Services. In a direct message to SubPrime Auto Finance News on Friday, the auto finance division of the North Carolina-based commercial bank indicated that […] [Read More]

After approaching the $1 billion securitization threshold last summer, Westlake Financial Services surpassed the mark, according to an announcement shared earlier this week. Westlake issued its largest asset-backed securitization (ABS) of $1 billion backed by approximately $1.1 billion of automotive paper. Vice president of finance Sean Morgan highlighted this move is Westlake’s largest securitization ever […] [Read More]