As advocates say “hundreds of thousands” of drivers are behind the wheel of vehicles with defective airbags in places like Riverside County in California, multiple online media reports surfaced this week that the maker of those defective airbags — Takata — is expected to file for bankruptcy this month. The development didn’t necessarily surprise analysts […] [Read More]

GrooveCar recently highlighted that its auto leasing program for credit unions, CU Xpress Lease, produced a 39-percent year-over-year volume increase during the first quarter. The growth comes after CU Xpress Lease funded nearly $1 billion in lease volume for 2016. The first quarter will break vehicle leasing records for credit unions, according to Callahan & […] [Read More]

Leaders from defi SOLUTIONS and eOriginal are looking for the auto finance industry to take another significant evolutionary step. Just like when participants moved away from using fax machines to complete applications, Georgine Muntz and Theodore Papilliou want finance companies to go completely digital to reduce paper consumption and generate other benefits. “There are lots […] [Read More]

CarStory has released an enhanced version of its Market Reports that is designed to heighten mobile shopper engagement on VDPs, according to the artificial intelligence platform’s creator Chad Bockius. “The main focus for this release was all about the design, in terms of the look and feel, but more importantly how we represent the analytics […] [Read More]

Westlake Financial Services now possesses a significantly larger investment footprint, as on Thursday the company announced the acquisition of Credit Union Leasing of America (CULA), headquartered in San Diego. The company highlighted the purchase of CULA raised Westlake’s total managed assets from $4.0 billion to $5.5 billion. Founded by Terry Bowdler nearly 30 years ago, […] [Read More]

As temperatures rise nationwide, independent dealership confidence is cooling a bit. Independent dealers backed off from their unprecedented high levels of optimism early in the year, but their outlook remains positive, according to the National Independent Automobile Dealers Association's Business Confidence Survey for the second quarter of 2017. Orchestrators explained this week that the survey […] [Read More]

The American International Automobile Dealers Association went to the White House this week to participate in a meeting on tax reform with White House National Economic Council Director Gary Cohn and other auto industry leaders. Leading AIADA’s charge were president Cody Lusk, vice president of government relations Rachel Robinson and vice chairman and California dealer […] [Read More]

As was widely anticipated, members of the Federal Open Market Committee at the Federal Reserve chose to raise the target range for the federal funds rate from 1 percent to 1.25 percent on Wednesday. While the vote to raise the rate was nearly unanimous, one FOMC member earlier raised concerns about the economic trends that […] [Read More]

MetroGistics has brought aboard new director of human resources Lainey Strohmeyer, who most recently served as director of human resources for Intelliteach. Strohmeyer is certified as a senior professional in human resources by the HR Certification Institute and a senior certified professional by the Society for Human Resource Management with more than 12 years of […] [Read More]

KAR Auction Services chief economist Tom Kontos reported overall wholesale prices in May rose nearly 4 percent year-over-year. But a recent addition to Kontos’ analysis in order to give the industry a better understanding “once again shows significant price softening.” According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model […] [Read More]