In June, the Consumer Financial Protection Bureau shared seven initial findings from its Auto Finance Data Pilot, deployed in February 2023. A trio of consumer advocates believe the CFPB’s work on this project is far from complete. Those organizations recently sent a letter to the bureau, asking the regulator to gain more information about an […] [Read More]

Open Lending Corp. shared more research on Tuesday reinforcing the affordability dilemma many consumers are facing when securing reliable transportation, especially individuals who fall in the near- and non-prime credit tiers. Using AutoCreditInsight data, Open Lending compiled another Near- and Non-Prime Consumer Update, continuing its quarterly report series on automotive financing trends among near- and […] [Read More]

The past two years, starting with its 2022 acquisition of ADESA’s U.S. auto auctions, have arguably been the most transformative in Carvana’s history. But to understand where the online used-car retailer is now and its potential growth trajectory, one must look at what Carvana was doing in the years immediately prior to that acquisition. What was the online retailer up to? [Read More]

Ed Morse Automotive Group has moved into Arizona in a big way. The Florida-based dealership group acquired seven locations in Sierra Vista, Ariz., from Lawley Automotive Group, according to the Dave Cantin Group, which brokered the transaction. The stores — Lawley’s Team Ford, Lawley Kia, Lawley Nissan, Lawley Chevrolet GMC, Lawley Hyundai, Lawley Chrysler Dodge […] [Read More]

More professionals to staff your dealership’s already busy collision repair and body shop might be on the way. On Tuesday, I-CAR, a provider of automotive collision repair industry education and credentialing, as well as technical information and services, announced that its new I-CAR Academy Program is now available to collision repair facilities. The program initially […] [Read More]

Hertz Global Holdings has added two new members to its board of directors. Frank Blake and Lucy Clark Dougherty bring impressive backgrounds to the rental car giant. Blake is the retired chairman and CEO of The Home Depot whose resume also includes roles as non-executive chairman of Delta Air Lines, deputy secretary of the U.S. […] [Read More]

Montway Auto Transport is stepping up its commitment to fighting hunger. The third-party logistics brokerage has increased its involvement with Move For Hunger, providing 120,000 meals to communities in need in 2024. Montway said it has provided nearly 700,000 meals through various support and food drives since it began working with the organization. “Partnering with […] [Read More]

The Toyota RAV4 was recognized by the National Association of Minority Automobile Dealers as the vehicle model most dedicated to driving sales leadership among Asian, Native American, Hispanic and African-American car buyers. The RAV4’s win as the Top Overall Future Majority Vehicle was one of 13 honors for Toyota and its luxury brand Lexus in […] [Read More]

Kot Auto Group’s growth plan has taken another step forward. The British Columbia-based dealership group expanded to 10 locations with the acquisition of Sunrise Ford in 100 Mile House, B.C. The dealership, which includes a service department and body shop, is Kot Auto’s first Ford store and first with a body shop, as well as […] [Read More]

Share a conversation with an executive who has been in subprime auto finance for a decade or two and likely the professional will say, “Yes, I’ve seen that before,” at some point during the exchange. The latest research of managed portfolio performance by S&P Global Ratings reinforced the probability that conversation might be happening now. […] [Read More]