Before the cyberattack that hit dealership software provider CDK Global, Group 1 Automotive’s used vehicle and aftersales businesses were performing well in the second quarter, said Group 1 president and CEO Daryl Kenningham. But the CDK outage “significantly affected” Group 1’s U.S operations from June 19-26, Kenningham said during Group 1’s second quarter 2024 earnings call on July 24. “We do believe that we could have [Read More]

Origence announced the appointment of three new associate board of directors that took effect on Thursday. The new associate board of directors of the technology solutions provider for credit unions are: —Linda Armyn, president and CEO of Bethpage Federal Credit Union, located in Bethpage, N.Y., with 473,707 members and more than $12.8 billion in assets. […] [Read More]

Even with a notable ransomware attack happening during the span, the Q2 Auto Finance Digital Transformation Index highlighted how much digital activity is happening to get vehicles financed and retailed. The year-over-year rate of digital adoption for contracting and transaction documentation in the U.S. auto market increased by 29% in the second quarter for finance […] [Read More]

Auto Financial Group (AFG), announced that an integration with CU*Answers came to fruition last week. The credit union service organization (CUSO) and cooperative corporation headquartered in Grand Rapids, Mich., now can use the AFG residual value and payment quoting calculator. CU*Answers’ integration with Auto Financial Group allows balloon loan and member data to flow seamlessly. […] [Read More]

While also extrapolating its data to make a presidential election prediction, LegalShield offered an update on its Consumer Stress Legal Index (CSLI), which dipped a bit in June. Based solely on consumer inquiries seeking legal assistance in June, LegalShield reported its latest data showed the CSLI dropped 1.0 point from May to 61.8, representing the […] [Read More]

The next episode of the Auto Remarketing Podcast originating from this year’s Canada’s Used Car Week in Toronto stressed the importance of consignors capturing buyers’ attention effectively to increase sales amid changing wholesale volume dynamics. Eddy Cusan and Steve Langdon with OPENLANE explored the current off-lease market and best practices for driving higher sales on […] [Read More]

The wholesale vehicle market has emerged out of COVID with a few new wrinkles, some driven by the pandemic itself and some happening coincidentally. For instance, more electric vehicles are making their way into the wholesale market, a trend likely applicable to the latter.  Even more pronounced than a rise in EVs is the increased digitization of the market, a phenomenon more applicable to the former. In data sets, presentations, interviews and calls with the media this summer, leading executives and analysts ... [Read More]

The next episode of the Auto Remarketing Podcast originating from this year’s Canada’s Used Car Week in Toronto delves into automotive professionals, especially women, can develop their own brand. A quartet of executives from LGM Financial Services — Jake Stacey, Clare Lowe, Christina Walecki and Kamini Hitkari — shared their journeys to developing their personal […] [Read More]

The next episode of the Auto Remarketing Podcast originating from this year’s Canada’s Used Car Week in Toronto focuses on search engine optimization and other parts of digital marketing. Melina Beeston, director of digital media of EDealer, offered recommendations for how stores can make the most of their advertising spending and resources. Listen to the […] [Read More]

A vehicle service contract provider struck out with the Federal Trade Commission this week. According to a news release, NRRM, which does business as CarShield, along with American Auto Shield (AAS), will pay $10 million to the FTC to settle charges that advertisements and telemarketing for VSCs are deceptive and misleading. The FTC said the […] [Read More]