AutoNation has added to its board of directors with the appointment of Claire Bennett as an independent director, effective July 8. The company called Bennett “a tenured global leader with an extensive customer experience, general management and consumer services background,” citing her experience as a senior executive “to help drive significant transformation in large, complex […] [Read More]

First, Edmunds highlighted how much negative equity and lengthening terms surfaced within auto financing booked during the second quarter. Then, Cox Automotive pointed out how difficult it might have been to get approved for auto financing at all last month. The newest Dealertrack Credit Availability Index showed access to auto credit declined again in June […] [Read More]

No one should blame Gene Daughtry if he often hums the Johnny Cash song “I’ve Been Everywhere.” After all, the senior consultant for Auto Master Systems likely has been to many of the same cities included in the chorus of that country tune. While he didn’t burst into song during his latest visit for the […] [Read More]

Wait, did I say if? I meant when! In this business, something will always eventually go wrong. Whether it’s because of outside forces or it’s self-inflicted, it’s only a matter of time before something disrupts how we operate. You can’t rely on things running smoothly all the time. It simply doesn’t work that way. You […] [Read More]

The used-car retail sales environment last month didn’t improve from May, but showed year-over-year growth in June, according to reports from industry observers. According to the latest “State of the Dealer” report from ZeroSum, dealers moved 1.29 million used vehicles in June, which was steady with May, but up from 1.14 million in June 2023. […] [Read More]

Asbury Automotive Group has promoted Dean Calloway, a longtime attorney for the company, to the position of senior vice president, general counsel and corporate secretary. The promotion is part of the company’s transition plan following the retirement of senior vice president, chief legal officer and secretary George Villasana, which became effective June 30. Villasana will […] [Read More]

CRM provider DriveCentric is collaborating with inventory acquisition and management platform VINCUE to integrate VINCUE’s appraisal into the trade-in features of its platform. The partnership is designed to allow dealers to pull appraisals from VINCUE into DriveCentric alongside the existing trade-in vehicle push feature. In a news release, the companies said the new “push and […] [Read More]

Two elements of auto financing clearly surfaced when Edmunds reviewed its second-quarter data. Analysts found that negative equity is still a notable factor, and consumers are often seeking elongated terms as a result. Edmunds reported on Wednesday that nearly one in four consumers who financed a new-vehicle purchase with a trade-in were underwater on their […] [Read More]

DigniFi, a fintech company specializing in automobile repair financing, announced the addition of two new strategic funding partners on Tuesday. In moves finalized on May 14, DigniFi said Encina Lender Finance is providing up to a $150 million credit facility while Brigade Capital Management is contributing an additional $25 million in debt financing. “DigniFi is […] [Read More]

Open Lending Corp. is looking to help consumers land both auto financing and car insurance. The provider of risk analytics solutions for financial institutions announced on Wednesday a partnership with Securian Financial Group in a move designed to enable Open Lending to provide insurance coverage through its flagship Lenders Protection program, as market volatility potentially […] [Read More]