Carvana announced a new funding round Wednesday morning that pushes its total funding toward half-a-billion dollars. With the $160 million Series C funding, the online car retailer’s funding is now at $460 million. Carvana said in a news release that it plans to put the latest round toward growth moves like the expansion of physical […] [Read More]

In the latest installment of the annual Power 300 issue of Auto Remarketing, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features. Next up in this series is Jared Rowe.   (UPDATE: At time of publication, Rowe was president of the […] [Read More]

On Tuesday, Edmunds launched what the company called Edmunds Ad Solutions, a new mobile-optimized ad product for dealers to target in-market vehicle shoppers on Facebook and Instagram. Site officials explained Edmunds Ad Solutions uses exclusive first-party shopping data from Edmunds to serve shoppers with highly relevant native ads on Facebook and Instagram to drive buyer […] [Read More]

Record auction sales volumes are expected this year (9.7 million units) and next (10 million) thanks to continued gains in commercial consignment, according to National Auto Auction Association chief economist Ira Silver. In a July webinar, Silver explained that unlike dealer consignment — a metric that more immediately reflects the new-car environment, which has slowed — […] [Read More]

Two economic trends important for buy-here, pay-here operators to watch — employment and bankruptcy filings — both improved in July. According to the latest U.S. Economic Update produced by Comerica Bank, the nation’s economy added a strong 255,000 net new jobs in July following what the report called a “blowout” of 292,000 net new jobs […] [Read More]

It was the same story, different week for vehicle values — sort of.  “Last week, the depreciation rate on car segments accelerated to the highest level in the year, while truck segments, including pickups and SUVs, continue to show strength,” Anil Goyal, senior vice president of automotive valuation and analytics for Black Book, said in […] [Read More]

Fitch Ratings took another look at the impact rising wholesale supply is having. This week, analysts explained U.S. auto lease ABS residual performance is still producing gains overall through mid-summer despite rising used-vehicle supplies. However, Fitch indicated further increases in vehicle supply during the second half of this year and into 2017 could lead to […] [Read More]

The amount of off-lease inventory flowing into Kia’s certified pre-owned program will likely double this year. That’s proving fruitful for a brand that just finished its best two months ever for CPO sales.  And, most likely, the CPO market as a whole.  In July, Kia moved 7,007 certified units for a 20.6-percent year-over-year gain, according […] [Read More]

Amid what the company is calling a period of significant growth in sales and technology, VinSolutions has promoted Chase Abbott to vice president of sales and Ken Wiebke to senior director of technology. In his new role, Abbott will oversee the entire sales team at VinSolutions. He joined the company in 2008 as regional sales […] [Read More]

Reversing an improvement that spanned four consecutive months, S&P Global Ratings determined collateral performance for subprime auto loan asset-backed securities (ABS) deteriorated month-over-month in June with net losses, recoveries and delinquencies all weakening. On a year-over-year basis, analysts found that overall performance weakened for both subprime and prime ABS, according to S&P Global Ratings' report […] [Read More]