While a former Department of the Treasury official insisted the Dodd-Frank Act resulted in an economy “far stronger and more resilient today than it was preceding the crisis,” American Financial Services Association executive vice president Bill Himpler addressed the Consumer Financial Protection Bureau’s regulatory overreach of the state-regulated consumer credit industry and the need for […] [Read More]

Ford executive Joe Hinrichs isn’t fretting over off-lease volumes hitting the auto market, but it is something he is watching. The off-lease volumes — particularly in the car segments, where supply and demand aren't exactly matching these days — isn’t necessarily going to dramatically change the way Ford runs its business, he said.   That […] [Read More]

SiriusXM announced on Tuesday that dealer group Rightway Automotive signed on to its Pre-Owned Program, which provides a three-month subscription to the radio company’s All Access package. Any of the group’s customers who purchase a pre-owned vehicle with a factory-equipped satellite radio can use the service. “Rightway is a welcome addition as we continue to […] [Read More]

Clicking a button to buy a car is not only the route that the auto wants to go, it’s also the route it should go. That’s according to comments from Cox Automotive chief operating Mark O’Neil, shared ahead of his speech Tuesday at the Automotive Forum in New York. O’Neil projects that the industry is […] [Read More]

On Tuesday, Copart announced the opening of a new location in Betim, Minas Gerais — the company’s sixth location in Brazil. Copart's Betim location is in the metropolitan area of Belo Horizonte and will offer a wide selection of salvage and used vehicles, according to the company. "The new location in Betim supports us with […] [Read More]

Kelley Blue Book revealed its 2017 Brand Image Award winners on Tuesday — Subaru, Lexus and Ford took the top spots after receiving the highest average scores among 12 brand watch factors. This year, Subaru not only took home the title of Best Overall Brand for the second consecutive year, the brand has also been named […] [Read More]

This CarLotz location in Greensboro, N.C., sits in a pocket of Wendover Avenue nestled between car dealerships and an auto auction. Quite literally, it is adjacent to both retail and wholesale vehicle marketplaces. But metaphorically, the same could be said for the overall business concept of CarLotz itself.  The retail consumer can walk in to […] [Read More]

Perhaps with Passover and Easter at hand, the spring market truly is happening if the latest information contained in the latest Black Book Market Insights report is an indication. The report released on Tuesday showed the car segment as a whole increasing its value by 0.15 percent. Although the truck segment did not retain or […] [Read More]

Consolidated Asset Recovery Systems (CARS), a technology and services company that works with finance companies to help streamline the repossession and remarketing process, is hosting a free webinar focused on insurance claims and protecting finance company investments. The session, in conjunction with van Wagenen, will begin at 1 p.m. ET on April 25. The webinar […] [Read More]

In another preview of the annual industry benchmarks compiled by the National Alliance of Buy-Here, Pay-Here Dealers, Ken Shilson touched on three more highlights from the “most comprehensive report we have ever published on subprime auto finance,” covering activity through the end of 2016 as well as forward-looking commentary and comparisons with prior years. Shilson, the […] [Read More]