It appears only talk about tariffs disrupted the upward trajectory of expanded auto credit access since last summer. Cox Automotive reported the Dealertrack Credit Availability Index improved again in July, marking the third consecutive month of enhanced credit access. The index rose 1 point to 98.1. Jonathan Gregory, a senior manager on Cox Automotive’s economic […] [Read More]

CarGurus will wind down its CarOffer transaction business, including the dealer-to-dealer and Instant Max Cash Offer products, and expects to complete the process in the second half of the year. The company said in an earnings release Thursday that after a strategic reassessment of CarOffer, it has determined the transactions business “has proven less effective […] [Read More]

Bo goes. Suh subs. The National Auto Auction Association said Bo Jackson, scheduled to be the closing keynote speaker of the 2025 NAAA World Remarketing Convention next month in Kansas City, has canceled due to “unforeseen circumstances.” Replacing him in the lineup will be former NFL defensive tackle Ndamukong Suh, a five-time All-Pro and Super […] [Read More]

CanadaOne Auto has partnered with Canadian automotive marketplace AutoTrader.ca to support its efforts to streamline online inventory exposure for its used and new vehicle offerings. The Edmonton-based dealership group, which operates 43 locations in five provinces, said the deal allows it to explore technology-driven tools, including AutoTrader’s “recent breakthroughs” in artificial intelligence aimed at improving […] [Read More]

The Canadian wholesale used-vehicle market had its ups and down last week. Canadian Black Book’s weekly Market Insights report for the week ending Aug. 2 showed auction conversion rates rising from the depths of a year-to-date low, while vehicle values took a significant tumble. At the auctions, the average monitored sale rate came in at […] [Read More]

Eleanor Gulla, managing partner of Larchmont Chrysler Dodge Jeep RAM in suburban Larchmont, N.Y., has been appointed chairwoman of the Greater New York Automobile Dealers Association, the association announced. Gulla has been a member of the GNYADA board since 2018, serving as vice chairwoman and chair of the employee relations plan committee, as well as […] [Read More]

Carfax comes to you with a warning — and a celebration. In the wake of the severe floods this spring and summer in Texas, Kentucky and West Virginia, and with hurricane season closing in on its peak, the provider of vehicle history reports issued a caution to dealers about flood-damaged vehicles. Meanwhile, the company’s Car […] [Read More]

A decade ago, the Consumer Financial Protection Bureau established the Automobile Financing Larger Participant Rule, which created regulatory oversight over providers that originated 10,000 contracts or more annually. That threshold might be changing since the regulator now operates with half the budget it had previously. On Thursday, a notice from the CFPB surfaced in the […] [Read More]

Open Lending Corp. will have a new chief financial officer in place on Aug. 18. The provider of automotive lending and risk analytics solutions for financial institutions recently appointed Massimo Monaco as its incoming CFO, an executive who will bring more than two decades of executive finance leadership experience in the residential mortgage lending and […] [Read More]

One of the longest-tenured finance companies in the subprime space has paused originations but said, “This is not a closure of business.” Automotive Credit Corp. (ACC) said late Thursday afternoon it will continue to fund all complete contract packages that have been approved and physically received as of that day, provided they pass the lender’s […] [Read More]