With only 13 EVs/PHEVs now qualifying for the full IRA Federal incentive of $7,500 due to sourcing requirements, it is clear that EV/PHEV leasing, with the 45W rule that grants the commercial user the full credit with no sourcing requirements, will inevitably be the preferred “sale” of choice for many OEMs and finance institutions. However, […] [Read More]

Brent Carmichael is no stranger to the buy here-pay here business. With more than 30 years in BHPH and subprime finance, including 10 years with a large BHPH operation, he has seen and heard … well, if not all, then certainly most when it comes to that sector. So when the longtime 20 Group moderator […] [Read More]

During this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C., RouteOne chief revenue officer Jeff Belanger moderated a panel discussion titled, “The Next Frontier in eContracting.” The session included: —Sam Miller, group manager of consumer lending at Toyota Financial Services —Mitch Falink, vice president of lender and aftermarket relations […] [Read More]

Used electric vehicles are seeing their prices erode, both on a retail and wholesale basis. And not only did average retail prices of used EVs fall nearly 30% last month, but these vehicles have also become increasingly cheaper than used internal-combustion-engine vehicles. According to iSeeCars.com, the price gap between used gas-powered vehicles and used EVs […] [Read More]

Auction Edge said Tuesday that Pipeline Market Report values can now be accessed for cars listed on the EDGE Pipeline platform. Those values had previously only been accessible through a subscription to Carbly, which is a vehicle sourcing and appraisal platform. Pipeline Market Report is a collaboration of Auction Edge and Carbly and offers a […] [Read More]

RPM Freight Systems has been acquired by private equity firms Bluejay Capital Partners and Trive Capital. RPM was founded in 2011 and provides transportation management solutions to new and used-vehicle finished logistics and other specialized freight markets in North America and Europe. Barry Spillman is the company’s founder and CEO. “As we enter our next […] [Read More]

More than a dozen U.S. dealerships from New Jersey to California agreed to retail electric vehicles from Fisker Group since the manufacturer hosted an open house in late January. Those plans might be moot as the company announced that it filed for Chapter 11 protection in the District of Delaware. According to a news release […] [Read More]

On the agenda of the 2024 NIADA Convention and Expo, the time allotted for Monday’s general membership meeting was one hour. It wound up lasting almost three times that long, as members of the National Independent Automobile Dealers Association debated and voted on the fate of president-elect Michael Darrow. When the meeting in a ballroom […] [Read More]

Advantage GPS made two announcements on Tuesday as operators gathered in Las Vegas for the National Independent Automobile Dealers Association Convention & Expo. Along with now being an NIADA National Corporate Partner, the provider of advanced GPS technology solutions and automotive analytics has launched SmartLot, an innovative inventory management and F&I solution designed specifically for […] [Read More]

Marty McFarland and Brian Geitner are back working together in the floorplan arena. Last week, Kinetic Advantage announced Geitner has joined Kinetic as president and chief operating officer. McFarland is a founder of the national provider of floorplan financing services for independent dealers and will remain as chief executive officer. McFarland previously was the company […] [Read More]