Pearl Technology Holdings announced Thursday that it has enhanced its on-demand automotive retail platform ShowroomXpress, also known as SRX, with the release of a dynamic website widget that can calculate and present six different payments to car buyers in seconds. The new SRX website widget functions within the SRP and VDP levels of dealers’ websites and provides […] [Read More]

Westlake Financial Services and Prestige Financial Services each announced updates about securitizations this week, combining for a total surpassing $1.1 billion. The larger of the two securitizations came from Westlake, which actually rolled out its largest issuance in company history. Westlake issued an $800 million asset-backed securitization (WLAKE 2017-2) backed by approximately $860 million of […] [Read More]

BSC America Auction Group said Thursday that its new facilities for the Bel Air Auto Auction in Belcamp, Md., will welcome customers in September following several years of planning and 24 months of construction. Bel Air’s new 185-acre location will also house BSC America’s corporate headquarters and regional staff, according to the company. The auction will host its […] [Read More]

There are likely to be fewer used-car sales this month than there were in July, but the seasonally adjusted annualized rate should stay in the neighborhood of 39 million units. Edmunds released a forecast Thursday projecting 3.3 million used-car sales for August, which would be down from 3.4 million in July. The resulting used-car SAAR […] [Read More]

Along with elaborating a bit about his upcoming retirement, America’s Car-Mart chief executive officer William “Hank” Henderson described how underwriting tightening in other areas of the auto-finance market is benefitting the chain of buy-here, pay-here dealerships. The market change is improving not only the caliber of customer Car-Mart saw during the first quarter of its […] [Read More]

Experian senior director of digital credit marketing Scott Gordon acknowledged the proliferation of advertising mediums means there isn’t a “silver bullet” for dealerships and finance companies to use in order to showcase their options for consumers to purchase or lease a vehicle. What Gordon and the Experian team also know is consumers look at their […] [Read More]

The used-car operations of AutoCanada showed softness in the second quarter, but the dealer group showed some overall lifts in its quarter results, including gains in total revenue and gross profits. AutoCanada said in its latest earnings release that it retailed 5,061 used vehicles in the second quarter, which was a 5-percent year-over-year decrease. Used-car […] [Read More]

Investment continues to be pushed into new technology designed to respond to how consumers want to purchase and finance their next vehicle. The newest development involves the captive associated with one of the Big 3 domestics. Financial technology company AutoFi on Thursday announced it has raised $10 million in Series A funding. The latest funding […] [Read More]

Chrome Data recently entered into a new commercial agreement with Hyundai Motor America to implement the brand's build data within its VIN Description Services for the purposes of accurately describing Hyundai vehicles. The build data information from Hyundai allows Chrome VIN description services to be 100-percent accurate for Hyundai vehicles, according to the company. “We […] [Read More]

Hireology has brought on former Cars.com executive Michael Kraut as vice president of automotive partnerships. Kraut most recently served as vice president of national sales at Cars.com, and led the company to over thirteen years of record growth, according to Hireology. "Michael comes to Hireology during a period of rapid growth and transformation," Hireology co-founder […] [Read More]