Online wholesale used-vehicle marketplace OPENLANE has launched a new sale format that enables sellers to signal they are committed to selling a vehicle to the highest offer that day. The Absolute Sale feature is designed to increase buyer confidence and visibility, boosting engagement and optimizing seller returns, the company said. “With just the click of […] [Read More]

Two new reports are challenging consumer perceptions — and doubts — about electric vehicles. J.D. Power’s latest E-Vision Intelligence Report and a new survey by CarGurus addressed consumer concerns about EV charging and range issues and found the perceptions don’t always match reality. The CarGurus survey asked 1,050 car shoppers about three common perceptions — […] [Read More]

The largest portion of Open Lending’s client base consists of credit unions. The company’s newest advisor knows that segment of financial institutions quite well. This week, the auto financing facilitator and provider of risk analytics solutions announced Dan Berger, former president and CEO of the National Association of Federally-Insured Credit Unions (NAFCU) will be a […] [Read More]

Lendbuzz announced on Tuesday that it has closed a $100 million credit facility with MUFG. The fintech company that tries to help consumers obtain better access to credit when purchasing a vehicle said additional warehouse capacity will fuel its continued financing origination growth. The development arrived about a month after the 2023 Emerging 8 honoree […] [Read More]

In March, FlexPath DXP launched patent-pending technology to help users prequalify for real credit options by providing as little information as a phone number. On Tuesday, the provider of financial and digital marketing solutions announced relationship with the Ohio Independent Automobile Dealers Association (OIADA) as a vendor partner. FlexPath CEO Tarry Shebesta said this strategic […] [Read More]

Hudson Cook partner Patty Covington acknowledged the difficult balance dealerships must make with their advertising campaigns. They must create something that catches the attention of potential buyers while remaining compliant with state and federal regulations. To help dealers of all sizes, Covington appeared on this episode of the Auto Remarketing Podcast to share some suggestions. […] [Read More]

Azim Lalani has resigned as chief financial officer of AutoCanada, effective June 30, the company announced. Lalani, who joined the Edmonton-based dealer group in March 2023, cited personal reasons for leaving, and will be relocating to Vancouver. AutoCanada said he will continue to be available to the company for six months after the effective date […] [Read More]

Ignite Consulting Partners collaborating with the Association of Dealership Compliance Officers (ADCO) proved to be a winner for everyone involved. More than 200 dealers and other industry participants attended the sixth annual Compliance Unleashed Conference in Grapevine, Texas, late last month. Ignite’s biggest event of the year had the theme “Risk Never Rests,” emphasizing the […] [Read More]

Protective Asset Protection released findings on Tuesday from its latest survey conducted to better understand consumer perspectives on automotive F&I products, as well as the factors that impact F&I purchase decisions when shopping for a vehicle at a dealership. This time, the online survey was conducted in April, and more than 300 recent car shoppers […] [Read More]

Throughout most of its 78-year history, the annual membership meeting at the National Independent Automobile Dealers Association Convention has been a pretty innocuous affair, including discussions about bylaws, recognition of the previous year’s officers and an election that has usually been a foregone conclusion. This year, though, is likely to be different. When the meeting […] [Read More]