Is vehicle affordability improving for consumers? Or are finance companies not taking on as much risk? To help you decide, consider these metrics from Experian’s State of the Automotive Finance Market Report: Q2 2024 released on Thursday. Experian determined the average amount financed for a used vehicle delivered in the second quarter declined $1,068 year-over-year […] [Read More]

ACV may have started as a dealer-to-dealer digital wholesale platform, but the company continues to build its physical infrastructure as part of a strategy to broaden its offering to commercial consignors. And that includes the acquisition of traditional brick-and-mortar auto auctions like Alliance Auto Auctions and DAA Oklahoma City — which are just two of the entities ACV has purchased — in addition to renting land and opening greenfield sites. The company is 25% of the way towards its goal of at least ... [Read More]

Black Book noticed wholesale prices edged up only 0.01% during the week that finished on the last day of August. That reading came after a week when values stayed steady. But the newest installment of Market Insights released on Wednesday did contain six notable trends — five from an auction perspective and the other from […] [Read More]

Two automotive shipping companies have hit the top 20. That’s the 2024 MOTOR Top 20 Awards, presented by automotive data supplier MOTOR Information Systems. Montway Auto Transport’s Montway Automation Portal and Ship.Cars’ SmartHaul TMS were selected in online voting by industry professionals as two of the 20 most innovative new developments in the auto industry […] [Read More]

Beau Townsend Ford Lincoln is on the cutting edge. The dealership in Vandalia, Ohio, walked away from last month’s Reynolds and Reynolds Retail Summit: Amplify 2024 in Leesburg, Va., with two of the three Automotive Amplifier Awards, presented for the event’s most innovative best practices. Sales consultant Justin Rash earned the award in the variable […] [Read More]

The Auto Care Association is hoping a flood of letters can carry right to repair legislation through Congress. The nonprofit trade association representing manufacturers and distributors of auto parts and components, as well as parts stores and repair shops, said more the 114,000 letters have been sent to Congress by “industry advocates and concerned citizens” […] [Read More]

Shareholder Milos Gvozdenovic and attorney Garry Masterson of Weltman, Weinberg & Reis Co. recently addressed some of the most common questions finance companies have about bankruptcy and vehicle repossession. Gvozdenovic and Masterson began by touching on the question that might surface first. How does the automatic stay work and what do finance companies do? “The […] [Read More]

If any trends are on a steady, upward trajectory nowadays, it seems like fraud complexity and frequency are two of them. Experian recently released its 2024 U.S. Identity and Fraud Report revealing that generative AI (Gen AI), deepfakes and cybercrime are critical threats putting intensifying pressures on businesses. Experts highlighted the ninth annual Experian Identity […] [Read More]

Deloitte, a provider of audit and assurance, consulting, tax and risk advisory services, and AuditBoard, a cloud-based platform transforming audit, risk, compliance and ESG management, expanded their working relationship on Wednesday. The companies announced the launch of a custom integration between AuditBoard’s connected risk platform and enterprise software provider, SAP, to advise clients to address […] [Read More]

A pair of firms that specialize in auto refinancing — iLending and Way.com — are optimistic about their prospects, especially if the Federal Reserve starts to lower interest rates this month. iLending president Nick Goraczkowski described what it’s been like at the company since the Federal Reserve has held rates steady since last September, plateauing […] [Read More]