The Consumer Financial Protection Bureau released its initial findings on Monday from its Auto Finance Data Pilot deployed last February. The CFPB made nine market monitoring orders to three banks, three finance companies and three captives to provide information about their auto financing portfolios. The regulator shared seven main conclusions even though officials said in […] [Read More]

Consumers are no strangers to using peer-to-peer marketplaces but are a bit leery when it comes to using those platforms to buy cars, according to a survey from the British Columbia Automobile Association. With that in mind, the group has launched a news online platform, BCAA Auto Marketplace, designed to address the P2P car-buying fears […] [Read More]

Ken Garff Automotive Group has sold Northwest Chrysler Dodge Jeep Ram in Houston to Keating Auto Group, said Kerrigan Advisors, which represented Ken Garff in the deal. Keating Auto Group is based in Victoria, Texas, and has roughly 30 stores in the state. The Northwest CDJR store had been owned by Ken Garff since 2007. […] [Read More]

Last month, Xander Schauffele won the PGA Championship at Valhalla Golf Club in Louisville, Ky., securing the first-ever major championship for the golfer currently ranked No. 3 in the world. Monday, fresh off a tied-for-seventh finish in the U.S. Open, Schauffele scored another victory: a two-year partnership to be an ambassador for the AVIS car […] [Read More]

Black Book, in collaboration with Fitch Ratings, unveiled a new report on Monday. With the first installment titled, “Shifting Gears: A Comprehensive Overview of Automotive Trends in 2023,” experts released the 2024 Vehicle Depreciation Report, which presents key developments and data from the U.S. new- and used-vehicle markets, including notable trends in depreciation, sales and […] [Read More]

They say time waits for no one, and he who hesitates is lost. Well, those may be true, but it’s also true that speed kills. The faster you go, the less control you have and the more prone you are to mistakes. This is especially true in the car business. Dealers often make the mistake […] [Read More]

S&P Global Market Intelligence rolled out its newest tool to gauge risk. On Monday, the provider of information services and solutions to global markets announced the launch of RiskGauge Desktop, a scalable solution designed to streamline the credit risk assessment workflows of corporations of all scopes and sizes. The company said RiskGauge Desktop combines credit […] [Read More]

When it comes to electric vehicles, a mobile app is almost essential equipment, according to the latest study from J.D. Power. The 2024 U.S. OEM EV App Report found 90% of the almost 1,300 U.S. EV owners surveyed said they use the apps, up from 88% in 2023 and 81% in 2022. And 67% of […] [Read More]

Perhaps your underwriting department used information about unpaid medical bills on an applicant’s credit report when determining whether to offer auto financing and under what terms. Last week, the Consumer Financial Protection Bureau proposed a rule that would remove medical bills from most credit reports. Officials said the proposal would increase privacy protections, help to […] [Read More]

America’s Group said Monday it has acquired San Antonio Auto Auction from BA&W Enterprises Ownership Group. The move extends the auction company’s footprint to 39 locations across 19 states, including digital and mobile sales platforms, as well. San Antonio AA is located on 44 acres in Texas and includes a six-lane arena, reconditioning facilities and […] [Read More]