Andrew Lemoine expects to see increased digitization as a trend in auto finance, as consumers are “demanding a lot more seamless online buying experiences.” Consumers want that seamless experience in the overall vehicle purchase transaction, and Lemoine, who is founder and CEO of autocorp.ai, said that includes the financing portion. Autocorp.ai provides tools to allow dealerships to sell cars and engage with consumers online. “When it comes to things like pre-approvals and taking the finance deal further in a digital format, I think we can expect to see ... [Read More]

The National Automobile Dealers Association could claim victory by still hosting NADA Show 2025 last week in New Orleans, despite the biggest snowstorm in more than 100 years hitting the city just days before the expo hall doors opened. Then late on Monday, NADA had another claim to victory in the Big Easy: the U.S. […] [Read More]

OPENLANE senior director of business intelligence Forrest Dougan joined the Auto Remarketing Podcast to discuss the analytics and data science side of wholesale automotive. Dougan talks with Cherokee Media Group senior editor Joe Overby about where wholesale prices and sales volumes are heading, trends within the various consignor segments, the impact of lower off-lease volumes, […] [Read More]

Once again, CARFAX has selected the dealers on its platform deemed best by their customers. This time, though, they’ve added an extra twist, highlighting dealers who have remained on top. The sixth annual CARFAX Top-Rated Dealers Awards were chosen this past weekend in conjunction with the NADA Show in New Orleans, recognizing dealerships earning the […] [Read More]

A small dealership group doubled in size with the acquisition of two stores in Iowa. Alex Tovstanovsky and his mother, Yelena, of Sky Auto Mall have purchased Van Horn Ford and Van Horn Chevrolet in Newhall, Iowa from Van Horn Automotive Group, according to Performance Brokerage Services, which brokered the transaction. The Tovstanovskys immigrated to […] [Read More]

Orbee, a provider of automotive data management and middleware software, announced it has received additional capital funding from investors that include two dealership groups. The company plans to use the funding to expand its sales and customer support efforts and accelerate its ongoing product development. The amount of the investment was not disclosed. The Presidio […] [Read More]

Sunbit and Reynolds and Reynolds announced an integration partnership last week. The move is meant to enable dealerships to convert more repair orders by utilizing the Reynolds Retail Management System and Sunbit’s financing technology to leverage real-time data and prescreen customers at different stages of the service journey. According to a news release, the service […] [Read More]

The majority of dealerships are experiencing data gaps between the core systems that run their operations:  customer relationship management, dealer management and finance management systems. The vast majority are saying that better quality integrations and workflows between website tools and core platforms could improve efficiencies at the dealership by at least 20%. Those assertions are […] [Read More]

Along with rolling out new resources for dealerships, CUDL highlighted last week that its credit union vehicle financing platform closed 2024 with $41.16 billion in funded contracts. Last year, the company said a growing number of credit unions embraced the technology fueled by artificial intelligence available through CUDL, resulting in faster decisioning and funding. Credit […] [Read More]

Cherokee Media Group asked Satyan Merchant whether finance companies opened the year with an optimistic outlook, a pessimistic view or something in the middle. The senior vice president and auto and mortgage business lead at TransUnion shared his assessment amid this backdrop: many consumers who are now considering auto financing may be reentering the market with far more complicated credit pictures than they did even just a few years ago. “Cautious optimism is the way I would describe it with auto finance companies. Again, that theme of ... [Read More]