What has been chatted about during networking time at industry events this year became official. Cox Automotive announced on Thursday that chief economist Tom Webb will retire on June 30. The company said his departure marks the end of an “illustrious” automotive industry career that spanned some four decades and earned Webb recognition as the […] [Read More]

LotVantage announced on Wednesday that it has brought on two new additions to develop the company’s OEM Brand Manager utilization tool, which aims to help OEMs market their promotions and advertisements through their dealers’ social media channels. The digital marketing solutions provider chose Branden Elwell, who was most recently the senior vice president of sales at […] [Read More]

For the second time in roughly a week, details became public involving Santander Consumer USA and regulatory enforcers. On Wednesday, SCUSA reached settlements totaling $25.9 million with the attorneys general of Delaware and Massachusetts for what state officials said was the finance company’s role in “facilitating unfair, high-rate” vehicle installment contracts. The developments with the […] [Read More]

RVI Group’s latest quarterly report put a number regarding how much analysts expect used-vehicle prices to soften by 2020. According to the latest installment of the RVI Risk Outlook, analysts first mentioned that real used-vehicle prices in Canada decreased in February on a year-over-year basis. In February, the exchange rate was $0.75 USD/CAD, down from […] [Read More]

The latest RVI Risk Outlook from RVI Group not only recapped February wholesale prices movements, but firm analysts projected where new-model lease penetration will trend through 2020 and how much of a pricing impact that level could make. In the first-quarter report released on Tuesday, RVI Group indicated real used-vehicle prices (seasonally adjusted for 2- […] [Read More]

Insurance Auto Auctions announced on Wednesday that it has adopted and launched an updated vehicle details page on IAAI.com to streamline customer access to vehicle information. The new page has up to 320 additional VIN details and comprehensive Hollander Interchange parts data, which helps car buyers estimate vehicle value more quickly and make better-informed bidding […] [Read More]

Particular car shoppers respond better or worse to different words when debating which car to buy, according to new research released by CDK Global on Tuesday. The company’s latest edition in its Language of Closers series provides demographic specific entail that is valuable to dealers seeking out ways to most effectively describe inventory on their vehicle […] [Read More]

The demand for cars — especially units that could be retailed to potential buyers on the lower end of the credit spectrum — continued to be the topic in both the lanes and among Black Book editors last week. The latest Black Book Market Insights report shows both car and truck segments retaining their values […] [Read More]

According to the latest State of the Automotive Finance Market report from Experian Automotive, none of the overall readings for either 30-day or 60-day delinquencies moved higher by more than 10 basis points year-over-year during the fourth quarter. Analysts indicated the overall delinquency reading to make the highest jump was the percentage of outstanding balances […] [Read More]

This week, NextGear Capital, Westlake Financial Services and Spireon all bolstered their executive teams to enhance their respective finance-oriented operations. To support future growth in the inventory-financing sector, NextGear Capital announced Lisa Mackie will fill its newly created vice president of sales position, effective immediately. Mackie is responsible for strategic leadership, vision and execution of […] [Read More]