In advance of Richard Cordray’s semiannual appearance before the U.S. Senate Banking Committee, lawmakers from Congress’ upper chamber conducted a hearing on Tuesday dubbed “Assessing the Effects of Consumer Finance Regulations,” where the primary topic was Consumer Financial Protection Bureau impact. While the CFPB’s director returns to Capitol Hill on Thursday, the Senate committee spent […] [Read More]

As GrooveCar significantly broadened its network of partners, PenFed Credit Union forged a relationship with CU Direct and the CUDL Network during last week’s NADA Convention & Expo with the expectation of increasing member loans and enhancing overall efficiencies with dealerships. Beyond the growth in membership and assets, PenFed sees this new partnership as a […] [Read More]

Continuing a theme in the Black Book Market Insights report series, wholesale truck prices are softening amid the spring selling season’s peak.  And, really, the early part of 2016, in general.  This downturn for many segments so far this year runs contrary to the trends spotted in the second half of last year, according to Black […] [Read More]

Readers who follow me in this periodical or by viewing my LotParty inventory learning shows know my hot buttons — forget “set and forget” pricing, never neglect to enrich online vehicle descriptions, and always respect the shopper by loading up lots of high-quality, 360-degree walk-around photos of every unit you market online.  Those are all […] [Read More]

Mark O’Neil, the newly minted chief operating officer of Cox Automotive, is staying put in Virginia, he tells Auto Remarketing during an on-site interview at the NADA Convention & Expo this past weekend. He has no plans to move to Atlanta, where Cox Automotive and its parent (Cox Enterprises) are headquartered. That’s no slight on the […] [Read More]

Online auto retailer Carvana ventured into its third market in Florida on Tuesday, adding Tampa, Fla., to its list of places the company can reach consumers in the Sunshine State. With the launch of operations in Tampa, Carvana now can offer free, next-day delivery to anyone within 100 miles of the city. In total, the […] [Read More]

With more entrepreneurs and franchised dealerships taking an interest in J.D. Byrider’s business model, the buy-here, pay-here chain recently promoted two of its employees to be franchise consultants. Ascending into this role are Lewis Scott and Tim Bullock. This move aims to help J.D. Byrider continue in its growth mode, which included the opening of 12 locations […] [Read More]

Cox Automotive continued to adjust its leadership structure on Tuesday as the company promoted VinSolutions vice president and general manager Lori Wittman to become senior vice president and to lead the newly formed Cox Automotive Sales and F&I Solutions team. The company added that Wittman will maintain her role as the general manager of VinSolutions. […] [Read More]

DriveTime passed another juncture on its “longer-term corporate roadmap” on Tuesday as the company continues to pivot away from the traditional buy-here, pay-here model of selling, financing and servicing vehicle sales to subprime customers. Tuesday marked the official launch of Bridgecrest Acceptance, a licensed third-party servicer for servicing installment contracts for DriveTime and other affiliated […] [Read More]

Toyota Certified Used Vehicles, as it turns out, is celebrating more than just its 20th anniversary in April. The CPO program — along with those at eight other brands, for that matter — just posted its best sales month of all time, according to Autodata Corp. And so did the overall industry.  As for Toyota, […] [Read More]