With two more opportunities to announce a move before the end of the year, trends are pointing toward the Federal Reserve using at least one of them to modify interest rates after passing on the chance this week. The Federal Open Market Committee (FOMC) kept the federal funds rate at 1 percent to 1.25 percent, […] [Read More]

CarGurus is now officially a publicly traded company. The online automotive marketplace announced pricing on an initial public offering of 9.4 million shares of its Class A common stock on Wednesday ($16.00 per share before underwriting discounts), and then on Thursday, the shares began trading on the Nasdaq Global Select Market. The company is issuing […] [Read More]

Jeremiah Wheeler, vice president of financial services at DRN, returns to the Auto Remarketing Podcast, as Nick hosts a discussion about the impact technology is having on vehicle repossessions. We also touch on the special segments at Used Car Week that include Jeremiah and DRN, which is the presenting sponsor of Auto Fin Con. Check out the conversation below. […] [Read More]

Dealertrack Canada announced Tuesday that the company has added the financial arm of the Nissan and Infiniti brands in Canada to its online credit application network. The new partnership enables Nissan and Infiniti dealers in Canada to now secure financing for customers from Nissan Canada Finance/Infiniti Financial Services via the Dealertrack Canada online credit application network. "We are excited […] [Read More]

Cody Green was working at Saskatoon Hyundai some eight years ago when he started to notice a common challenge for consumers in the car-buying process. And that started the idea for what today is known as Canada Drives, a company that allows consumers to set up vehicle financing online before they head to the dealership. […] [Read More]

Record new-vehicle sales are boosting Canadian automaker’s performances. But that might not be the case for long. The Conference Board of Canada warned in a report that Canadian auto exports could be at risk under North American Free Trade Agreement (NAFTA) renegotiations. The report, Canada’s Motor Vehicle Manufacturing Industry: Industrial Outlook, explains potential changes in rules […] [Read More]

Amid changing car ownership models, autonomous vehicles, digital retailing and other innovations, there’s another area of automotive that’s perhaps ripe for disruption: the leasing process. Including, but not limited to, the used-car side of that business. Fair, for instance, is an app that provides used-car leasing to consumers on a flexible basis, and launched last […] [Read More]

It’s probably been a topic mentioned during sales staff meetings and around the coffee pot at franchised dealerships — stair-step programs sometimes leveraged by automakers to incentivize stores to get new metal rolled over the curb. Current National Automobile Dealers Association chairman Mark Scarpelli took on the subject this week within a test drive of […] [Read More]

Fastlane announced it has chosen Market Scan to be the company’s financial data supplier. Market Scan will provide the company with both real-time payment and rebate information tracked from car manufacturers, banks and credit unions. Fastlane offers dealers both an Amazon-like checkout process and a customized car-buying experience tailored to each dealer’s individual branding, messaging […] [Read More]

Car Keys Express announced Wednesday that the company is extending its service by offering consumers on-site, instant automotive key replacement via an Uber-inspired webpage where users can choose from one of three service levels. The levels of service include the following three options: Priority— receive same-day service with ability to further upgrade to "Custom Critical" […] [Read More]