Think your buy-here, pay-here operation has been the only one impacted by the delayed release of tax funds to certain consumers? One of the largest BHPH players as well as a finance company that books plenty of non-prime originations discussed the situation recently. First, a little information background from Cox Automotive chief economist Tom Webb. […] [Read More]

As of early afternoon on Wednesday, there were more than 100 people from 74 different dealerships registered for the Auto Remarketing Canada Conference, which will be held April 3-4 at the Westin Harbour Castle in Toronto.  And the list has been growing steadily each day, say conference organizers. If you’d like to connect with these folks, make […] [Read More]

Insurance Auto Auctions announced its  expansion of auction locations in Arkansas, Idaho, Indiana, Louisiana, Maine, Pennsylvania and Oregon in order to meet and anticipate increasing customer demand. Its facilities which now occupy 173 locations in the U.S. and Canada. The salvage vehicle auction company says its plans for growth within the seven states exhibits its commitment to […] [Read More]

AutoNation said Wednesday that Jon Ferrando — who is executive vice president – general counsel, corporate development and human resources — will retire from the company on March 31. Effective April 1, Coleman Edmunds will serve as acting general counsel and corporate secretary. He is currently AutoNation’s senior vice president and deputy general counsel. “I have enjoyed […] [Read More]

The Consumer Financial Protection Bureau (CFPB) recently released a report detailing the problems in the credit reporting industry that the bureau said it has uncovered and corrected through its oversight work. Since launching its supervision of the credit reporting market, the CFPB has identified significant issues with the quality of the credit information being provided […] [Read More]

Wise F&I, which offers an array of voluntary protection products including guaranteed asset protection (GAP), appearance care service contracts, tire and wheel protection, vehicle service contracts, theft deterrent systems, key replacement and other ancillary products, recently announced its products are now available through Darwin Automotive’s Prescriptive F&I Selling Software. The companies said this partnership can […] [Read More]

Mobile wholesale marketplace ACV Auctions has secured $15 million in venture funding in a Series B investment round led by Bessemer Venture Partners that the online auction platform will use to expand into additional markets. ACV secured $5 million in venture capital last year in a round led by Tribeca Venture Partners. It won the 43North […] [Read More]

This March, dealers across Canada are joining together in asking customers to take a pledge against driving distracted. Distracted driving is a dangerous and growing trend that is responsible for 4 million vehicle collisions a year in North America, according to data from CAA cited in an LGM Financial Services news release. The 2017 Auto […] [Read More]

Cox Automotive chief economist Tom Webb explained why February’s wholesale price data reinforced a possible market moniker — stability. Manheim reported on Tuesday that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) fell by 0.2 percent in February. However, Webb pointed out that given a sharp decline in pricing in February of last […] [Read More]

TrueCar named its executive vice president of OEM development on Tuesday, appointing longtime Edmunds and automaker exec Michael Darrow to the role. Darrow was most recently the chief sales officer at Edmunds, where he worked for more than 14 years in a variety of positions. In the new post with TrueCar, Darrow will head up new […] [Read More]