Along with taking their usual look at activity during the past three months, Federal Reserve officials also asked participants in the latest Senior Loan Officer Opinion Survey on Bank Lending Practices to examine trends going back 10 years. Specifically, the Fed wanted a description of the current level of lending standards at banks relative to […] [Read More]

Global wholesale floor planning software provider Sword Apak recently announced it will implement its new dealer floor planning and loan solution, WFSv6, with Wells Fargo Dealer Services. Officials explained the agreement creates a new portal that is designed to address the evolving business needs of Wells Fargo and its dealer customers. They also mentioned the […] [Read More]

GrooveCar Direct — a vehicle buying resource for the nation’s credit union industry — is expanding through new partnerships with a pair of institutions in the Southeast. Recently coming aboard the program are Insight Credit Union, which is based in Orlando, Fla., and Michoud Credit Union, which operates in New Orleans. Insight Credit Union is a […] [Read More]

July was a solid month for certified pre-owned sales, with one luxury automaker notching its best month ever, and multiple OEMs breaking July records, as well. First up, Porsche Approved CPO sales reached an all-time monthly record in July, with 154 certified units sold. Audi Canada had another terrific month for CPO sales, selling a total […] [Read More]

Cars.com has a new chief marketing officer. The company has announced that former AMD and Dell executive Colette LaForce has been named to the position and is beginning her tenure immediately. Her duties as CMO at Cars.com include heading up brand marketing, advertising, pricing and analytics, communications, and creative services and events for Cars.com. LaForce […] [Read More]

Industry-wide certified pre-owned sales climbed 11 percent year-over-year in July, and one automaker (Fiat Chrysler Automobiles) had its best month ever. That’s according to data and analysis released by Autodata Corp., which pinpointed the total industry CPO figure at 221,891 sales for the month. Through seven months, year-to-date sales are just a shade under 1.5 […] [Read More]

Fueled by double-digit improvements year-over-year within three of its largest divisions, KAR Auction Services finished the second quarter with a 17-percent jump in net income. KAR officials said this week that their Q2 revenue came in 12 percent higher at $658.3 million, up from $585.6 million in the same quarter a year ago. For the […] [Read More]

The co-founder and general manager of one of Cox Automotive’s newest enterprises — Flexdrive — emphasized during a phone conversation with Auto Remarketing on Tuesday that ramping up its rental fleet numbers and relationship with Uber — the online transportation service provider that’s grown in popularity in some of the largest U.S. metro areas — […] [Read More]

The latest installment of our Q&A series from the recent Power 300 issue of Auto Remarketing features Anil Goyal, the vice president of automotive valuation and analytics at Black Book.  In this feature, Goyal looks at maximizing big data in the auto market and offers his take on used-car price trending, as well. Auto Remarketing: […] [Read More]

AutoNation announced its July new-vehicle sales results on Tuesday, highlighting a 9-percent year-over-year increase compared to July 2014. The dealer group retailed 29,875 new vehicles in July. On a same-store basis, new-vehicle unit sales increased by 7 percent year over year compared to July 2014. Here’s a segmented breakdown of new-vehicle sales, according to the […] [Read More]