The former chief executive officer of Priceline.com now has that same role with Vroom. Paul Hennessy resigned from his Priceline post last week and succeeds Vroom co-founder Allon Bloch, who will continue with Vroom as a senior advisor, the online used-car retailer said in a statement Wednesday afternoon. Robert Mylod Jr., a former chief financial officer […] [Read More]

Wholesale vehicle prices climbed sequentially for the second straight month and posted a year-over-year gain for the first time in 2016. But don’t take that to mean those supply-driven expectations for downward sloping used prices are suddenly over, Tom Webb warns in commentary accompanying the latest Manheim Used Vehicle Value Index. “They do suggest, however, […] [Read More]

GPS-based technology provider PassTime announced that it completed a software integration project with Verifacto, a cloud-powered risk management system for independent and buy-here, pay-here dealers as well as other auto finance companies. Customers utilizing both Verifacto software and PassTime GPS solutions now can perform a variety of device management functions directly within Verifacto as well […] [Read More]

While pinpointing a trio of subprime securitizations demonstrating some higher loss trends, S&P Global Ratings determined collateral performance in the U.S. auto loan asset-backed securities sector improved month over month in April for the subprime sector, but continued to remain weak on a year-over-year basis for both the prime and subprime sectors. Analysts recently explained […] [Read More]

The chief executive officers from Equifax, Enterprise Holdings, Carfax and Edmunds.com were among the business leaders with connections to the automotive industry recognized as Highest Rated CEOs for 2016 by Glassdoor, an online jobs and recruitment marketplace. The honors, bestowed upon top leaders in countries throughout North America and Europe, came as part of Glassdoor’s annual […] [Read More]

ACA International, the association of credit and collection professionals, believes that 25 years since the enactment of the Telephone Consumer Protection Act, plaintiff’s attorneys and federal regulators have manipulated the original intent of the law, transforming it from a statute that protects valuable consumer communication with businesses into a tool for frivolous lawsuits. In its […] [Read More]

Quest Resource Holding Corp. has announced what it believes to be a safe, sustainable, turnkey solution to destroy millions of recalled Takata airbags. The company’s airbag recycling program, which is being offered to more than 12,000 dealership and automotive aftermarket client locations, is designed with two goals: to prevent recalled items from being sold in […] [Read More]

May represented a best-ever daily selling rate for the certified pre-owned car business and year-to-date CPO sales have eclipsed the 1 million mark, according to Autodata Corp. Through five months, there have been 1.1 million certified sales, which is 3.6 percent ahead of last year’s pace, the firm said in its data set released Wednesday. […] [Read More]

It’s not that new-vehicle owners can’t get no satisfaction. It’s just that for the first time in years, a non-American brand has earned the distinction of most satisfying popular, non-luxury brand among new-vehicle owners. Korean manufacturer Kia claimed that honor in this year’s AutoPacific Vehicle Awards, which measures owner satisfaction with 50 attributes ranging from […] [Read More]

With the May employment report from the Bureau of Labor Statistics landing with “a thud,” according to the reaction by Comerica Bank chief economist Robert Dye, the auto finance industry likely will have to wait until later this summer at the earliest for the Federal Reserve to make a move regarding interest rates. To recap, […] [Read More]