Beepi has merged into a new venture led by TrueCar founder Scott Painter and two former Tesla executives that will bring dealers into the fold, according to a news release provided Wednesday by public relations firm Kel & Partners. TechCrunch was first to report the news on Wednesday, indicating that Beepi had merged with the to-be-launched […] [Read More]

S&P Global Ratings said U.S. prime and subprime auto loan asset-backed securities (ABS) sector’s performance deteriorated in October compared to September and also weakened on a year-over-year basis. According to a report published this week, prime and subprime net losses increased in October, while recovery rates slipped. However, analysts explained their modified subprime index — […] [Read More]

There will likely be 1.96 million new vehicles sold in Canada this year, compared to 1.90 million in 2015, according to the latest Scotiabank Global Auto Report. That also compares favorably to historical levels over the last quarter-century, which Scotiabank detailed in a data set included in the report. From 1990 to 1999, new-car sales averaged […] [Read More]

Manheim announced general manager appointments at four locations on Wednesday: Trevor Enge at Manheim Georgia, John Duplanty at Manheim Tucson, Gus Jones at Manheim Arizona and Maxine Vega at Manheim New Mexico. “Backed by their experience and passion for the business, these general managers will help Manheim deliver outstanding client service and continuously improve the […] [Read More]

As the Consumer Financial Protection Bureau reported that it handled approximately 27,000 complaints in October, four industry associations delivered a letter this week to the Senate’s top leaders, urging the bureau’s structure be modified to create a five-person, bipartisan board. The letter addressed to Sen. Mitch McConnell, the majority leader, and Sen. Chuck Schumer, who […] [Read More]

The American Bankruptcy Institute reported that total bankruptcy filings in November decreased by double digits year-over-year, reinforcing an anticipation of the second-lowest annual figure in 11 years. According to data provided by Epiq Systems, the total bankruptcy filings of 59,300 in November represented a 10-percent decrease from the year-ago total of 65,562. Consumer filings also […] [Read More]

As part of Auto Remarketing Canada's annual Power 200 this fall, we reached out to some of the top executives in the Canadian used-car business for an inside look at their businesses and their insight into the remarketing industry.  Next up in this series is a Q&A from earlier this year with Brad Rome, president of Canadian Black Book.  […] [Read More]

Artificial intelligent devices like Amazon’s virtual assistant smart speaker, Echo, makes it easier for consumers to purchase items from its online store, paving the way for future online vehicle shopping and research using virtual personal assistants. Information that is spoken to software on a device that processes the natural and conversational voice of users are […] [Read More]

As part of Auto Remarketing Canada's annual Power 200 this fall, we reached out to some of the top executives in the Canadian used-car business for an inside look at their businesses and their insight into the remarketing industry.  Next up in this series is a September Q&A  with Alexi Venneri, chief executive officer of Digital Air Strike.  […] [Read More]

Insurance claims management solutions provider Crawford & Company has bought an 85-percent membership interest in WeGoLook, an on-demand field inspection and verification services provider whose offering includes automotive. Boards of directors at both companies have approved the $36.125 million deal announced Tuesday, which is subject to certain conditions. Closing is expected to be in January. […] [Read More]