Within a week of leveraging additional vehicle location data and analytics to mitigate its risk, Westlake Financial Services announced on Tuesday that the finance company issued a $700 million asset-backed securitization backed by approximately $748.7 million of automotive loans and installment contracts. The transaction — Westlake’s largest-ever securitization — was led by BMO Capital Markets […] [Read More]

Does Richard Cordray possess more power than President Trump? No matter what Trump’s possible tweets might be to the contrary, one of the Constitution experts who testified during a U.S. House hearing on Tuesday declared that, in fact, the director of the Consumer Financial Protection Bureau holds more leverage than the occupant of the White […] [Read More]

For the fifth year in a row, OpenRoad Auto Group announced that it has been honored with a Gold standard requalification as part of Canada’s Best Managed Companies program, which recognizes Canadian owned and managed companies with revenues above $15 million that demonstrate strategy, capability and commitment to achieve sustainable growth. “It is a great […] [Read More]

Despite some quality issues with the Tesla Model S and Model X, current Tesla owners appear to have great appreciation for the brand, but drivers who purchase the brand’s upcoming model — the Model 3 — are less likely to overlook complications, according to a J.D. Power report released on Tuesday titled Tesla: Beyond the […] [Read More]

Speaking to a crowd gathered for the grand opening of the company’s Chicago auction last week, ADESA president and chief executive officer Stéphane St-Hilaire emphasized the importance of brick-and-mortar auctions to the company. Building a $40 million facility in the nation’s third-largest metropolitan area is certainly one way to show that. St-Hilaire also emphasized in that […] [Read More]

With one auction general manager describing the impact of tax refunds in the lanes, this week’s Black Book Market Insights report indicated the car segment retaining its value better than the truck segment as a whole. However, editors pointed out that compact vans increased their value by 1.17 percent in the truck department, outperforming all […] [Read More]

More confirmation about the unusual path wholesale prices took in February arrived from the team at KAR Auction Services on Tuesday. Coming on the heels of what J.D. Power Valuation Services shared, ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class showed wholesale used vehicle prices in February averaged $10,688 […] [Read More]

With 10 sales days left in the month to move certified metal, Autotrader editors released their list of the best certified pre-owned offers available in March. For potential buyers looking to head into spring with the purchase of a like-new vehicle, the site said this could be the right time for dealers to help their […] [Read More]

On Monday, Kelley Blue Book announced its first in a series of international launches with the introduction of Kelley Blue Book in Portugal at KBB.PT. According to a 2017 TGI Grupo Marktest study, price was the No. 1 important factor for both new- and used-vehicle shoppers in Portugal, with 74 percent of new-model buyers and […] [Read More]

Along with taking a longer-term look and investigating how all pools would perform through a credit cycle, S&P Global Ratings reported that collateral performance in the U.S. subprime auto loan asset-backed securities (ABS) sector weakened in 2016 for the fourth straight year. According to a report published by S&P Global Ratings, both annualized metrics and […] [Read More]