On Wednesday, Carvana launched in its 17th market: Cincinnati. This is the eighth new market for the online car retailer this year, including the move to fellow Buckeye city Columbus late last month. With the latest expansion, Carvana said it can now provide as-soon-as-next-day delivery to more than 118.3 million customers in the U.S. and […] [Read More]

What some legal watchers consider to be the second-highest court in the nation called the Consumer Financial Protection Bureau “unconstitutionally structured” on Tuesday. The U.S. Court of Appeals for the District of Columbia Circuit ruled in favor of a finance company that operates in the mortgage space, rescinding a $109 million enforcement action the bureau […] [Read More]

The gut response to market change is belt tightening. That’s often a prudent and wise action to take, but if you do, make certain cost-cutting isn’t cutting off oxygen to your business. What do I mean? When trends and data seem to indicate the industry tide is turning — when pundits predict slower times ahead — […] [Read More]

ADESA has announced changes to its management teams in Houston; Memphis, Tenn.; Seattle; and Tulsa, Okla.; effective immediately. Michael Schenks, who was general manager at ADESA Memphis, now has the same role ADESA Houston. Ron Schritenthal, previously assistant general manager at ADESA Memphis, has been promoted to general manager of that location. Dan Watt, who was assistant general manager […] [Read More]

TrueCar has launched a series of half-day, educational Dealer Summits designed to provide insights and best practices on sales processes, digital marketing, conversion rates and profitability. The first of these was Tuesday in Atlanta, with additional 2016 summits planned for Philadelphia and California — plus more to come in 2017.  Auto Remarketing caught up with vice president of dealer marketing […] [Read More]

Auto/Mate Dealership Systems announced this week that its dealership management system now is fully integrated with Singlethread, a service department text-message platform. Auto/Mate’s dealer customers now have the option to implement Singlethread’s messaging tool to communicate with service customers and have all records saved in each contact in the DMS. “Many customers prefer to communicate […] [Read More]

Cox Automotive chief economist Tom Webb fully expects this year’s certified pre-owned vehicle sales total to surpass what the industry generated in 2015, which was 2.55 million units. During his quarterly conference call with the media and other industry observers this week, Webb projected that this year’s CPO sales figure might land near 2.7 million, […] [Read More]

In a “what comes up, must come down” type of scenario, certain vehicles that have seen fairly good retention thus far in 2016 are starting to see their values drop. “The truck segments, particularly SUVs and pickups, are beginning to see larger declines after experiencing strong retention so far this year,” Anil Goyal, senior vice […] [Read More]

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]