Perhaps it’s one of the most consistent trends in all of auto finance nowadays. It’s the continued adoption of digitized contracting and documentation workflows by auto retailers and their lending partners. That’s the main conclusion from analysis by Wolters Kluwer Compliance Solutions for its Q2 Auto Finance Digital Transformation Index. Key findings from the second-quarter […] [Read More]

If you’re hoping the Federal Reserve cuts interest rates this month, you might be disappointed. Comerica Bank predicted policymakers might not make a move until it’s time to celebrate Christmas, Hannukah and Kwanzaa. The Federal Open Market Committee will announce its next decision on July 30, with experts projecting that policymakers are likely to keep […] [Read More]

The midsummer dealership buy-sell frenzy has culminated in the biggest sale of the year — so far. Bosak Auto Group sold all nine of its Northwest Indiana dealerships in two separate transactions to Victory Automotive Group and Graff Family of Dealerships, according to Haig Partners, which represented the seller. Fast-growing Victory, based in Michigan, has […] [Read More]

June marked the first time in more than two-and-a-half years that wholesale auction sales fell on a year-over-year basis, according to the latest AuctionNet data from the National Auto Auction Association. While year-to-date auction sales are up close to 6%, last month’s volumes were off 1.9% from June 2024 (selling-day adjusted), coming in at 540,200, […] [Read More]

Two of the leaders in the used electric vehicle space have teamed up to take used EVs from consumers and sell them to dealers. Plug, which is an online wholesale auction specifically for used EVs, has partnered with Recurrent to be the exclusive wholesale partner for the EV analytics provider’s consumer-facing “Sell with Recurrent” program. […] [Read More]

Impel’s mission to bring safer, more effective and more contextually aware artificial intelligence for the auto industry has taken two giant steps forward, the company said. The provider of automotive artificial intelligence technology announced the public showcasing of its domain-tuned, production-grade large language model and the release of Archias, a research-first expert model designed to […] [Read More]

For years, the auction house has been a cornerstone of inventory acquisition for auto dealers. It offered a seemingly reliable pipeline of vehicles to replenish lots and meet consumer demand. However, the landscape has dramatically shifted, leaving many retailers to deal with a new frustration: the increasing difficulty of finding quality inventory without succumbing to […] [Read More]

ADESA announced new leaders at three of its auctions. Tonya Thomas has been named general manager of ADESA Shreveport, Tommy Howard is the new GM of ADESA Little Rock and Eric Renfro has taken the reins as GM of ADESA Indianapolis. Thomas has been with ADESA Shreveport for more than 35 years, serving as commercial […] [Read More]

Cherokee Media Group’s Bill Zadeits — who many industry leaders consider to be as cool as Will Smith — will also be saying, “Welcome to Miami” next spring. On Tuesday, Cherokee Media Group officially announced plans to host the Used Car Industry Summit on April 13-15 at Miami’s premier waterfront destination: the luxurious InterContinental Miami. […] [Read More]

LGM Financial Services has received a financial boost from the East. The Vancouver-based F&I provider announced a strategic financial investment from Marubeni Corporation, one of Japan’s largest investment business conglomerates. LGM said the partnership “marks a powerful step forward in advancing responsible mobility and innovation in the Canadian automotive industry, providing the stability, expertise and […] [Read More]