The decline continues – just a little more slowly. Canadian Black Book’s weekly Market Insights showed the Canadian wholesale used-vehicle market fell by 0.20% for the week ending Aug. 24, a bit less of than the 0.28% drop of the previous week. Cars segments’ values strengthened significantly, down 0.25% compared to the previous week’s 0.44% […] [Read More]

National Auto Auction Association president Eric Autenrieth is looking forward to the session on artificial intelligence at the upcoming 2024 World Remarketing Convention in Orlando, Fla. Autenrieth said his company, the Stanley-Autenrieth Auction Group, has not yet started using artificial intelligence in its operations. “But we have certainly investigated and have kept our eyes open to [Read More]

Millennium Capital and Recovery Corp. named its new chief operating officer on Wednesday, selecting former Bank of America senior vice president Don Gordon for the role. The provider of nationwide asset recovery management, skip-tracing and remarketing said Gordon will lead Millennium’s recovery operations, encompassing recovery performance, remarketing, vendor network, as well as leading Millennium’s skip-trace […] [Read More]

Well, you can say this about the wholesale market. It’s usually not boring for active buyers, sellers and observers. With children back in school and football season set to begin in earnest, Black Book spotted more intriguing trends on Tuesday to keep consignors and dealers educated so they can celebrate in the retail end zone. […] [Read More]

Sunbit highlighted in late May that its buy-now, pay-later (BNPL) financing technology is available at more than 50% of dealership service centers in the U.S. The company might be able to build on that footprint courtesy of an integration with myKaarma announced last week. Sunbit and myKaarma said this partnership will bring a BNPL option, […] [Read More]

Auto finance companies and other business segments continue to use artificial intelligence for more tasks. Their consumer customers appear to be getting more cautious about this approach. Results released on Wednesday from the latest survey from Bentley University and Gallup shows that U.S. adults see more harm than good from the use of AI, believe […] [Read More]

Sunrise Auto Group is out of the car dealer business. Bob Berkheimer’s company has sold its last dealership, Sunrise Buick GMC Covington Pike in Memphis, to locally owned Jim Keras Automotive Group, according to Kerrigan Advisors, which represented the seller in the transaction. “Collaborating with Bob and his team on the sale of all three […] [Read More]

RB Global, a global marketplace for commercial assets and vehicles and parent company of IAA, has appointed Steve Lewis as chief operating officer, effective Sept. 3. The company said Lewis brings “a honed approach to driving business growth through operational excellence” and extensive senior leadership experience in operations and supply chain management. “Steve has a […] [Read More]

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]