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]

During the President’s Gala held during next week’s NAAA Annual Convention festivities in the second block of Used Car Week, there will be a new fundraiser (Chapter Charity Auction) to benefit five charities. The Gala itself is on Nov. 16 from 7 p.m. (PT)  to 9 p.m. In addition to identifying the four charities to support, each […] [Read More]

Imagine potential buyers receiving customized advertisements for your dealership before they even begin to navigate through your store website. That’s the outcome Simpli.fi says it can deliver by introducing Prospecting Dynamic Creative for Auto, what the company claims is the industry’s first and only upper-funnel dynamic creative programmatic tool that can generate dynamic ads to […] [Read More]

Despite what experts see as an obstacle to filing, the American Bankruptcy Institute (ABI) noticed that the total amount of consumers and businesses seeking this legal financial shelter rose in October both sequentially and year-over-year. According to data provided by Epiq Systems, ABI reported that total U.S. bankruptcy filings increased 2 percent in October versus […] [Read More]

Automotive technology provider VINFactor has released a new saved cars feature that allows dealers to save vehicles across any website or software tool during the vehicle research and acquisition process. Dealers using the recently launched VINFactor product can now click on any VIN on any website to activate the new car saving feature. The company […] [Read More]

U.S. News & World Report announced its inaugural Best Certified Pre-Owned Program winner on Tuesday, recognizing the automaker that best provides peace-of-mind for CPO buyers. Winning the award in its debut year is Lexus. U.S. News & World Report will also recognize Lexus during the Used Car Awards luncheon, sponsored by TradeRev, this coming Tuesday […] [Read More]