The opening statements Federal Reserve chair Janet Yellen gave to the U.S. House Financial Services Committee certainly appeared to give the sense policymakers recognize the significant difference in banks that might offer auto financing, especially ones with a nationwide footprint versus the single-point institutions in towns with one traffic light. Yellen made her semiannual appearance in front […] [Read More]

On Wednesday, White Clarke Group announced the appointment of Allan Fried to its North American consultancy division as senior consultant. Fried joined the business in August. The company described Fried as a “finance technology heavyweight” who is well-known in the origination industry and will bring his up-to-the-minute knowledge of regulation and compliance as well as […] [Read More]

Jumpstart Automotive Group made some interesting observations around a particular demographic of car shoppers in its recent Today’s Auto Shoppers study conducted in conjunction with Ipsos Connect. Among the most notable finding: Hispanic shoppers like to buy new cars. They place a high value on quality and brand reputation. And they’re not generally looking to […] [Read More]

A couple of years ago when pundits and naysayers wanted to discuss auto financing, often they gravitated toward how the industry’s recovery stemmed from subprime activity, resulting in a possible bubble similar to what created the Great Recession. While analysts and experts eventually extinguished that line of thinking by showing performance data, these same industry […] [Read More]

Along with soft launching a new way for consumers to sell their vehicles so that the units might end up in the auction lanes, online vehicle marketplace operator Beepi hired David Faugno as its chief financial officer on Tuesday. While the company has been in operations for just over two years, Faugno is its first […] [Read More]

CDK Global has announced a new way to connect digital vendors to dealers. Called Partner Connect, the program creates a pool of approved applications that can be added to a dealer’s website. Partner Connect can give dealers increased functionality on websites provided by CDK and ensure that vendors looking to integrate are optimized into the […] [Read More]

On the whole, cars depreciated faster than trucks last week — a return to recent trends after the previous week’s reversal. But subcompact car values got a reprieve last week, according to Black Book's weekly Market Insights report released Tuesday. Volume weighted, overall car segment values decrease by 0.68 percent last week. This was similar […] [Read More]

In response to client demand, Manheim highlighted on Tuesday that the company has nearly tripled the availability of Enhanced Vehicle Imaging (EVI), expanding from 25 to 74 auction locations throughout North America. Manheim reiterated that EVI is designed to provide a consistent set of quality high-resolution images that can showcase vehicles in an optimal way. […] [Read More]

The latest report from Fitch Ratings indicated U.S. auto loan and lease credit performance will likely continue to deteriorate in the second half of 2016 and into 2017. Analysts noted year-over-year credit performance deteriorated for auto finance companies in the first half of 2016, despite improved loss rates in the first half of this year […] [Read More]

Online auto retailer Carvana — creator of the world’s first coin-operated Car Vending Machine — announced its expansion into Columbus, Ohio. Columbus marks the company’s first Midwest launch and its seventh new market launch over the past seven months. “We couldn’t be happier to be expanding into our first market in the Midwest, and to have […] [Read More]