The latest asset-backed securities analysis from S&P Global Ratings showed weakening performances for both the U.S. prime and subprime auto loan ABS sectors in August — with net losses, recovery rates and 60-plus-day delinquencies all worsening month-over-month. Analysts added that performance for both sectors also continued to weaken year over year, with only prime recovery […] [Read More]

DRIVIN has launched DRIVIN Marketplace, allowing dealers to list and remarket unwanted inventory at wholesale prices to a nationwide network of dealers. “Our Marketplace is a smart addition to the DRIVIN experience,” said John Manganaro, vice president of product and analytics. “Our goal is to help dealer partners confidently sell, search and buy the right inventory […] [Read More]

TradeRev announced it has hired Tory Swedlund and Will Farmer as regional directors in the U.S. Farmer will lead the southeast region, whereTradeRev said that performance has flourished as a result of the strong relationships built from partnerships with several major auto groups such as Pohanka Automotive Group. Swedlund will lead the expansion of TradeRev’s presence […] [Read More]

Cox Automotive chief economist Tom Webb described September’s reading of the Manheim Used Vehicle Value Index, which represented a 1.7-percent lift year-over-year, as “not extremely unusual.” When Webb hosted his quarterly conference call on Monday, he used a potentially troublesome adjective, “problematic,” when he touched on a figure that might push wholesale prices and the Manheim […] [Read More]

 “If I were school principal for a day …” It’s a popular childhood meme. But what if kids ran a dealership for a day? That was the crux of Chrysler’s recent effort to drum up publicity for the 2017 Pacifica. In essence it was business as usual at Southern California’s Victorville Motors on Sept. 14, […] [Read More]

AutoPoint has announced a marketing solution called Sales Journey. The company said Sales Journey addresses the challenge of attracting new customers and retaining existing customers as they prepare to buy or lease a new vehicle in a competitive dealer market. Its predictive targeting methods allow dealers to gain a marketing advantage at critical early stages […] [Read More]

BSC America has named Paul Weekes as the transportation manager of its Bel Air Auto Auction. Before his time with BSC, Weekes was branch manager at Insurance Auto Auction in Baltimore, spending eight years with IAA.  He worked at Bel Air Auto Auction from 2001 to 2004.  “Paul comes to us with over 20 years […] [Read More]

On Monday, Mercedes-Benz Financial Services USA announced key appointments to its executive leadership team in support of the captive’s business priorities and growth strategies to help dealership throughout the U.S. and Canada. Both appointments are effective immediately. The finance company said Rodolfo Dominguez has been appointed vice president of business transformation and chief digital officer. […] [Read More]

Fiserv recently launched a multi-tier implementation model for its auto loan origination system (LOS) and automotive account servicing solutions to help new entrants expand into auto financing and growing companies improve their efficiencies. According to credit bureaus, an estimated 114 million new contracts and leases are expected during the next three years, and auto loans […] [Read More]

Janet Barnard, president of Cox Automotive Inventory Solutions, received the 2016 Leadership Character Award in the CEO/President/Managing Partner — Large Company category. The company said Barnard was recognized for her integrity; her commitment to treating clients, suppliers, co-workers and others with respect; and for maintaining a culture in which everyone takes responsibility for achieving results […] [Read More]