Going into Memorial Day weekend, Black Book learned dealers weren’t overly eager to spend their floor plan funds as vehicle depreciation trends told editors “that summer is fast approaching.” According to the latest Black Book Market Insights report, editors found that car segments are picking up more weekly depreciation compared with trucks, “signaling that summer […] [Read More]

In an effort to elevate its customer experience, Genesis Motors Canada has launched Genesis Downtown, the brand's first boutique retail storefront in Canada on Queen Street East in downtown Toronto. "Genesis Downtown is another touchpoint for our customers. Since launch, our customers have expressed a desire to experience the brand in a more traditional automotive setting,” Genesis Downtown distributor […] [Read More]

Hudson Cook partner Lucy Morris told SubPrime Auto Finance News she wasn’t surprised the U.S. Court of Appeals for the District of Columbia Circuit immediately smelled the political aroma during oral arguments as the 11-member en banc panel assembled for rehearing of the case questioning the constitutionality of the Consumer Financial Protection Bureau.   Morris […] [Read More]

XLerate Group recently announced that it has brought on Tom Francois as the new general manager of the group’s Badger State Auto Auction in Fond du Lac, Wis. Francois succeeds Tim Netz, who is retiring after 18 years of service at the auction. “We are grateful to Tim Netz for his leadership, service and dedication to […] [Read More]

GPS tracking solution provider IMETRIK recently released its newest offering — 3.5G COLLECT — a GPS device the company indicated is designed specifically to track vehicles when the unit loses power. The company explained that one of the key features of 3.5G COLLECT’s design is an “industrial grade” internal backup battery, a non-lithium three-cell supercapacitor […] [Read More]

White Clarke Group chief executive officer Brendan Gleeson received the Auto Finance Personality of the Year award during the International Auto Finance Network (IAFN) event conducted last week in London. The IAFN Awards dinner celebrated excellence and innovation within the automotive leasing and lending industries. Organizers indicated the Auto Finance Personality of the Year is […] [Read More]

Bank of America is enhancing its mobile offerings in an effort to boost originations with its participating dealerships. On Monday, bank officials highlighted that they launched new capabilities for mobile clients to complete the auto financing process with the company while searching for a vehicle from dealerships within the bank’s network. Plus, customers can complete […] [Read More]

Comerica Bank chief economist Robert Dye summarized what he called the nine important takeaways from the minutes released last week condensing the Federal Reserve’s Federal Open Market Committee's latest meeting, where members used the adjective “transitory” to describe first quarter GDP growth. First, here are the points Dye shared in Comerica Bank’s latest weekly analysis […] [Read More]

The wave of off-lease vehicles volume is at its “high tide,” according to Scotiabank, which says lease return numbers — and their subsequent impact to used-car prices — should begin to calm down. The peak in leasing growth was in 2013-14, the company said in its latest Global Auto Report. Lease penetration rates grew at […] [Read More]

An on-demand, live video platform developed by Los Angeles-based startup DropIn, gives dealership product specialists a tool that brings customers to car lots and showroom floors — without the shopper having to leave home. “Nobody wants to come down to the dealership and be sitting in the chair and feel that high pressure anymore — those […] [Read More]