FS-ISAC, a member-driven, not-for-profit organization that seeks to advance cybersecurity and resilience in the global financial system, announced the findings of its annual global intelligence office report, Navigating Cyber 2024. The organization highlighted its report details the increasing sophistication of adversarial tactics, techniques, and procedures leveraged by threat actors, such as social engineering, SEO poisoning, […] [Read More]

Last week, APCO Holdings — home to EasyCare, National Auto Care (NAC), GWC Warranty, and MemberCare brands of automotive and RV products — announced that Kumar Kathinokkula has joined the F&I provider and administrator as chief technology officer. The company highlighted Kathinokkula brings more than 30 years of experience in IT and product management with […] [Read More]

Potential fraud at your dealership or finance company can stem from activity outside the continental United States, as a case recapped by the Justice Department shows. The U.S. Attorney’s Office for the District of Massachusetts recently announced a Lowell woman was sentenced for her role in a scheme to use the stolen identities of United […] [Read More]

Courtesy of the internet, smartphones and other technologies, consumers know more about vehicles and how to acquire them than ever. Six primary findings from the sixth annual U.S. Consumer Insights Report from CarGurus reinforced this market condition. The digital auto platform for shopping, buying, and selling new and used vehicles sought to learn more about […] [Read More]

GM Financial spotted perfection in the auction world. On Wednesday, the captive named five regional Auction of the Year winners for 2023, one Most Valuable Auction of the Year, and for the first time, awarded a Perfect Audit Score. These awards are part of GM Financial’s annual Auction of Excellence program recognizing the nation’s highest-performing […] [Read More]

Chaos. I can’t think of a better word to describe what occurred in the automotive industry between 2020-2023. From increased costs and severe inventory shortages as unfortunate consequences of COVID, to finding ourselves in a historically high inflationary period with rising interest rates, it was an unprecedented three-year period for the industry. So much so […] [Read More]

Cars Commerce said in its 2024 Automotive Trends report there is roughly a 10.2 million-unit deficit in the number of 1- to 3-year-old vehicles expected to re-enter the pre-owned car market in the near future, leading to a “sparse and expensive” picture for dealers’ used-car inventories. How should store managers handle that situation? Brian Kramer, […] [Read More]

Federal Reserve chair Jerome Powell has acknowledged multiple times that, “My colleagues and I are acutely aware that high inflation imposes significant hardship as it erodes purchasing power, especially for those least able to meet the higher costs of essentials like food, housing, and transportation.” The latest information from VantageScore showed that Powell doesn’t appear […] [Read More]

Ally Financial has its next chief executive officer who said he admires the company’s “leading position in automotive finance.” Late on Wednesday, Ally announced Michael Rhodes will be its new CEO, starting at the company on April 29. Rhodes will also be appointed as a member of Ally’s board of directors at that time. Ally […] [Read More]

Canadian wholesale auto prices continued to slide down last week, falling by an average of almost a quarter percent (down 0.23%). According to Canadian Black Book weekly data, car prices dropped by 0.35%, while trucks and SUVs dropped by 0.11%. And an increasing number of segments saw prices rise last week in the lanes: four […] [Read More]