A wide array of wholesale industry news developed in recent days, including a new philanthropic award handed out by Cox Automotive, a milestone at Dealers Auto Auction of the Southwest and a leadership change at EPI El Paso. During the accolade-filled luncheon at the National Remarketing Conference, Cox Automotive presented its inaugural Community Impact Award […] [Read More]

Reports surfaced late last week of Tesla’s voluntary recall of all 90,000 Model S sedans produced, but the recall is likely not going to impact the vehicle’s residuals or used prices as the automaker works on growing its certified pre-owned program. In fact, when asked if this recent move will impact used pricing or residuals for these […] [Read More]

On Monday, FCA US highlighted the national rollout of its Degrees@Work program and the newly developed Degrees@Work Family offering with Strayer University, designed to provide a no-cost, no-debt college degree to participating brand dealership employees and their immediate family members. The automaker believes FCA US is not only the first and only company in the […] [Read More]

While many auto finance executives are gearing up for Thanksgiving with family and friends, it appears leadership of the Federal Reserve is not only prepping for turkey, too, but also mulling over how much interest rates should be increased. In a little more than three weeks, the policy-setting Federal Open Market Committee will convene for […] [Read More]

Two significant players in the auto finance space — Ally Financial and Exeter Finance — each shared details about recent company developments. At Exeter, the company announced on Monday that it closed a $300 million securitization backed by automobile loan receivables. Company executives indicated the transaction closed on Oct. 21. They added the private offering […] [Read More]

Rob Berger, executive vice president at Wise F&I, was recently elected to serve as president of the Guaranteed Asset Protection Alliance, an organization established in 2006 comprised of companies that offer guaranteed asset protection (GAP) products. The purpose of GAPA is to monitor and lobby legislative, regulatory and administrative activity impacting the GAP industry. Wise […] [Read More]

TrueCar announced Monday morning that Chip Perry — who started what it is now known as Autotrader — will be its next president and chief executive officer. That move becomes effective Dec. 15, when TrueCar founder Scott Painter formally steps down from his CEO, chairman and board of directors posts. In 1997, Perry became the […] [Read More]

Kevala Analytics has developed a digital tool that displays the registration location of every non-compliant Volkswagen diesel vehicle in the state of California, juxtaposing the location of these vehicles with the areas of California with the highest levels of pollution and poverty in the state. Danny Kennedy, the managing director of the California Clean Energy […] [Read More]

Mazda North American Operations is collaborating with four nonprofit organizations for its Mazda Drive for Good event that runs throughout the 2015 holiday season. Running from November 23 to January 4, MNAO is partnering with St. Jude Children’s Research Hospital, American Red Cross, American Heart Association and Mazda Foundation (USA) Inc. Customers who purchase or […] [Read More]

CDK Global, in partnership with Zipwhip, a cloud-based texting provider, has created the former’s Text Connect solution, allowing dealer employees to send and receive texts from customers. Employees with the system can text their customers via any Internet-enabled device, using existing landlines and toll-free phone numbers. "Nearly half of consumers say they prefer SMS communication with […] [Read More]