How many leads does it take for a dealer to sell a car? No, that’s not the setup to a joke. It’s the question asked in a study conducted by sales software firm Foureyes, which looked at dealership data in the first quarter of 2024 to identify how many leads dealers received on average per […] [Read More]

The Consumer Financial Protection Bureau issued a new report last week that suggested consumers tend to pay more for products that have more complex pricing structures, including auto financing. The CFPB said this report is based on experiments with multiple rounds of buyers and sellers interacting in simple markets. The regulator found that participants tended […] [Read More]

Deloitte is seeing momentum for accelerated adoption for generative artificial intelligence within finance and accounting this year. According to a Deloitte Center for Controllership poll, even though few executives (6.6%) say their organizations have already implemented generative AI solutions to support finance and accounting processes, the firm said considerably more indicate they are actively discussing […] [Read More]

Finance companies want to know their collateral is insured properly. Cox Automotive and Canopy Connect are collaborating to help with that delivery element. On Tuesday, Cox Automotive announced a new collaboration with Canopy Connect to embed insurance verification and servicing capabilities into Cox Automotive’s Ecommerce solution. The intended result is an enhancement to the online […] [Read More]

This week, RPM and MBSi Corp. announced a new partnership, aligning their areas of expertise in the auto finance industry. The collaboration involving the non-asset-based logistics and transportation provider and the repossession assignment management software company is designed to help finance companies, repossession agencies and forwarders. RPM and MBSi said their alliance creates a way […] [Read More]

Carvana is celebrating Mobility Awareness Month with its second annual Pickleball for All event – an accessible pickleball exhibition and clinic in Atlanta for athletes of all abilities. The online used-vehicle retailer is working with the Professional Pickleball Association to lower the barrier of entry to the sport of pickleball for the millions of Americans […] [Read More]

Wholesale vehicle prices continued their downward slope in April, falling double-digit percentages from a year ago. In fact, Cox Automotive’s Manheim Used Vehicle Value Index for the month fell below 200 for the first time in more than three years. The company said in a Data Point report accompanying the index that wholesale vehicle prices […] [Read More]

Lotlinx has launched a monthly/quarterly report to deliver data and trends to the auto industry. The company called its Vincensus Report “the most comprehensive monthly/quarterly inventory report in the industry” and said each month and quarter the report will “offer deep real-time data and insights visibility into the trends shaping OEM-specific and dealership inventory for […] [Read More]

Missouri Auto Auction recently held a promotional event to benefit Bree’s Gift, a nonprofit organization that honors the life of Bree Isabel Johnley, who passed away at 4 years old, by providing families with up to 100% of the funding needed to adopt a child. Jennie Johnley, Bree’s mother and founder of Bree’s Gift, is […] [Read More]

Penske Automotive Group’s CarShop used-only retail stores saw sequentially improving sales and margins in the first quarter of 2024 as it recovered from somewhat dismal full-year 2023 used-vehicle results. “We’ve seen CarShop really make a big step forward in margin in the U.S. as we’ve been able to ... [Read More]