EFG Companies and Northwood University are collaborating again, this time for an F&I competition designed to “jolt” the industry into a higher standard of innovation.  A new accolade to be held annually, officials highlighted the F&I Innovator of the Year program will pit six teams of Northwood’s junior and senior undergraduate automotive marketing and management students against […] [Read More]

CU Direct Connect (CUDC), a participant in the Colorado automotive financing market that provides indirect services to credit unions and dealers, announced the upcoming availability of a custom auto loan risk score designed by FICO. Officials highlighted this new score — which is expected to be available during the third quarter — is geared to […] [Read More]

Swapalease.com reports lease credit approvals entering August rose as sharply as summertime temperatures, registering an increase of 17.5 percent above July activity. All told, the volume of vehicle lease applicants who were approved to take over a contract on the Swapalease.com marketplace during July came in at 84.6 percent. The site also noted the year-to-date […] [Read More]

Four ADESA locations, in partnership with the Ford Global Action Team, announced they have raised over $283,000 for JDRF, a leading global organization focused on Type 1 diabetes research. Employees from ADESA locations in Indianapolis; Boston; Buffalo, N.Y.; and Phoenix along with their families, friends and customers participated in local JDRF Walk to Cure Diabetes events. ADESA […] [Read More]

The Greater Rockford Auto Auction has recently opened a 10,000-square-foot reconditioning operations center, otherwise known as “The ROC.” The new facilities includes three assembly line detail lanes, a full mechanical repair shop and a post-reconditioning photography area. The auction said The ROC enables it to boost efficiency and capacity in a big way. “We are […] [Read More]

It’s possible that dealerships are losing as much as 84 percent or more of their inbound sales calls that are not converted to a deal. That’s according to a recent analysis by IHS Automotive, commissioned by CallSource, which studied the performance of over 540 of the latter’s dealer customers over a year-long period (from April […] [Read More]

The largest wholesale auto auction in the world will celebrate its 70th birthday on Wednesday. Manheim Pennsylvania opened its doors with single lane in 1945 — today, it has 33 lanes as well as digital access, selling over 450,000 vehicles per year. The auction’s “Manheim through the Years” event will be hosted on Wednesday and […] [Read More]

Truck depreciation is beginning to come in line with price drops for cars leading to a steady decline in auction prices. According to the latest Black Book Market Insights report, truck depreciation has “picked up steam” over the last few weeks. This movement was highlights so far by last week’s drop of 0.41 percent or […] [Read More]

Dealers making the most out of expected gains in used-vehicle supply are likely to be among those “edging out the competition,” according to the Dealership Action Report released today by DealerSocket. These cars tend to be rather profitable and fast-turning for dealers, and time is of the essence to get your pre-owned department in order. Especially […] [Read More]

Vendor Transparency Solutions (VTS), a leading compliance management system for the auto finance and recovery industries, now offers a comprehensive continuing education portal to its clients. The company insisted that it created the portal stemming from regulators requiring financial institutions and their service providers to conduct ongoing training for their employees to ensure knowledge of […] [Read More]