Tariffs are here. Already high new-car prices are likely to continue climbing and what’s going to happen to sales going forward is anybody’s guess. Is Roger Penske worried? Not a bit. In the first three months of 2025 ... [Read More]

In the wholesale car market, the “spring bounce” was more like the long jump this year. Driven by tariff-hurried demand, prices leapt, pushing the Manheim Used Vehicle Value Index to its highest level in 18 months, according to Cox Automotive. “The ‘spring bounce’ normally ends the second week of April, but this year, wholesale appreciation […] [Read More]

Fueled in part by tariffs, Black Book summarized April since its latest installment of Market Insights covered the week that included the last day of the month. As the calendar flipped, analysts watched wholesale prices rise another 0.24% as last week’s auction conversion rate came in at 61%. “The market continued to see week-over-week increases […] [Read More]

Two dealership groups ventured into new territory with acquisitions in states outside their previous footprint. Texas-based Casa Auto Group, which operates 11 dealership locations in its hometown of El Paso and Southern New Mexico, has taken a step to the west with its first acquisitions in Arizona. Casa purchased Chevrolet/Cadillac and Nissan dealerships in Prescott, […] [Read More]

EDITOR’S NOTE: This story is part of the May edition of Auto Remarketing, which will focus entirely on a new special feature: Who to Watch. This special feature will recognize auto industry executives and companies — selected by Cherokee Media Group’s senior editors — who are significantly shaping the future of the used-car industry. This is […] [Read More]

Upstart, an artificial intelligence lending marketplace whose platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar “relief” loans, announced a forward-flow commitment from funds managed by affiliates of Fortress Investment Group. According to a news release, Fortress has agreed to purchase up to $1.2 billion of consumer loans […] [Read More]

As the captive finance company put it: “Things are about to get reels good, reels fast.” In a move meant to help its franchised dealerships, too, Toyota Financial Services  said it is “flipping the script” on auto finance storytelling with the launch of its brand-new Instagram channel, which is designed to be a fresh, immersive, […] [Read More]

Santander Consumer USA received more than just an auto-finance applicant’s credit score and risk assessment from FICO. At the FICO World Conference on Wednesday, FICO announced Santander has won a 2025 FICO Decisions Award for its use of machine learning. Officials highlighted SCUSA has transformed its credit risk assessment processes using FICO Platform and its […] [Read More]

Westlake Portfolio Management (WPM) is back in the business of absorbing outstanding portfolios. The subsidiary loan servicing company of Westlake Technology Holdings has entered into a servicing agreement with Mechanics Bank Auto Finance (MBAF) to oversee and manage its portfolio consisting of active and charged-off auto loans in a move that became effective on May […] [Read More]

While auto dealership M&A in the first quarter was down year-over-year, buy-sell momentum is building and there is “plenty of opportunity” in coming months, according to The Presidio Group, which anticipates a “very active M&A environment” the rest of the year. The firm’s latest report, Presidio Perspectives: A Quarterly Outlook on Auto Retail and M&A […] [Read More]