Tricolor has now completed 16 ABS transactions since the company, which focuses on providing auto financing to Hispanics, issued its first securitization in July 2013. The latest securitization unfolded this week, as Tricolor announced a $328 million issuance. According to a news release, JPMorgan acted as the lead structuring agent with Barclays serving as joint […] [Read More]

Multiple experts expect bankruptcy filings to continue to rise, especially after another upward drift in February. According to data provided by Epiq AACER, total bankruptcy filings came in at 40,260 in February, marking a 3% increase year-over-year. Filings last February totaled 39,034. Epiq AACER reported individual bankruptcy filings increased 5% in February to 38,108, up […] [Read More]

Jonathan Gregory explained why the latest reading of the Dealertrack Credit Availability Index had a notable connection to the subprime space — beyond the fact that the February figure signified the highest level of auto credit access since December 2022. The index came in at 95.9, representing a 3.0% lift year-over-year. The senior manager on […] [Read More]

There’s a new boss at Hyundai Auto Canada. Executive director of sales and digital strategy Steve Flamand has been promoted to president and CEO, overseeing the Hyundai and Genesis brands in Canada. The veteran Canadian automotive executive, who joined the company in February 2018, replaces longtime Hyundai Canada CEO Don Romano, who now serves as […] [Read More]

He knows the housing market and house music. He knows cars and The Cars. An economist who moved from the real estate market to the automotive market — while moonlighting as a DJ — Cox Automotive chief economist Jonathan Smoke is among our first-ever honorees in the Automotive Intelligence Awards: Industry Analysts program. Smoke joins […] [Read More]

A vehicle shipping marketplace received a $12 million investment this week. Carpool Logistics announced it has raised $12 million in Series A growth capital in a round led by Wavecrest Growth Partners, with participation from CarMax, Impel founders Devin Daly and Michael Quigley, and auto industry veteran David Metter. Carpool said the new funding will […] [Read More]

GoTo has launched a new version of its artificial intelligence-powered communications platform that’s purpose-built for automotive dealerships. The cloud communications and IT provider said GoTo Connect for Automotive is designed to give dealerships a single platform that offers CRM integrations, real-time multi-rooftop reporting and modern communication channels to optimize dealership outcomes by allowing customers to […] [Read More]

Ship.Cars is ramping up security. The software provider for car hauling companies has introduced new security measures that aim to protect carriers from the threat of fraud in auto transportation, including password requirements, mandatory two-factor authentication, proprietary fraud detection tools and continuous carrier USDOT authority monitoring. The company also unveiled plans to develop a new […] [Read More]

CarData and Velocity Automotive Marketing are expanding their partnership into Southern California with the acquisition of Tristar Digital Services. CarData, a provider of vehicle inventory photography, said the strategic acquisition strengthens its reach and “enhances its ability to deliver high-quality automotive photography and digital merchandising solutions to dealerships throughout the region.” “Our mission has always […] [Read More]

Automotive Ventures general partner Steve Greenfield works with a wide array of investors and start-up companies. Greenfield can now add Assurant Ventures to his list of industry collaborations. The venture capital investment arm of Assurant on Wednesday announced an investment in Automotive Ventures’ Mobility Fund II. The fund focuses on identifying and supporting innovative early-stage […] [Read More]