Hudson Cook expanded its credit reporting, privacy, and data security practice group with a legal expert whose last position was with one of the service providers in that specific space. This week, the law firm announced the addition of Jason Esteves as a new partner in its Washington, D.C. office. Esteves is the second partner […] [Read More]

We begin this roundup of news from the credit union world with the newest client of Credit Union Leasing of America (CULA). The provider of indirect vehicle leasing for credit unions for more than 30 years announced this week that it has been selected by Utah-based Mountain America Credit Union to bring vehicle leasing to […] [Read More]

SYCN Auto Logistics is beginning the new year by filling a new executive role with a professional whose career includes involvement with automotive retail, rental and financing. The full-service auto transport management solution offering technology and transportation services appointed Brett Lippel as its new chief partnership officer. Prior to joining SYCN Auto Logistics, Lippel served […] [Read More]

Some folks struggle to get back into the swing of full-time activity to begin the year, especially if they took significant time away for the holiday season. Evidently, the wholesale market might be experiencing the same back-to-the-grind struggles, according to the latest analysis from Black Book. Analysts indicated on Tuesday that wholesale values softened 0.68% […] [Read More]

Penske Automotive Group has completed its acquisition of United Kingdom-based Rybrook Group Limited, a deal that adds 15 premium dealerships to the Penske portfolio. The deal includes four BMW dealerships — three of which also retail BMW Motorrad motorcycles — four MINI dealerships, four Volvo dealerships, two Land Rover dealerships and one Porsche dealership. Penske […] [Read More]

Jan. 29 will be an important day for buy-here, pay-here dealerships. The Internal Revenue Service announced on Monday that Jan. 29 is the official start date of the nation’s 2024 tax season when the agency will begin accepting and processing 2023 tax returns. The IRS expects more than 128.7 million individual tax returns to be […] [Read More]

As 2023 wrapped up, Tesla took a bit of a hit, with a recall announced that covered almost all new vehicles sold in the U.S., as well as over 200,000 in Canada. According to Transport Canada, in certain circumstances when Autosteer, Tesla’s autopilot feature, is engaged, the prominence and scope of the feature’s controls may not be sufficient to prevent driver misuse of the advanced driver-assistance feature. Auto Remarketing Canada reached out to Daniel Ross, senior manager, industry insights and residual value strategy at Canadian Black Book, to get more insight into the road Tesla is on, and whether their niche market is reacting to recent red flags from the automaker. One of the most recent, of course, is the 2023 sweeping recall. Interestingly, Ross said although he doesn’t see the recall as ... [Read More]

2024 is kicking off after a month of continued wholesale price declines. According to the Canadian Black Book Used-Vehicle Retention Index, prices in Canada fell by an average of 2.3% in December. Declines in value continued at the quickest sustained rate since the beginning of the COVID-19 pandemic, CBB reported. The index now sits at […] [Read More]

Open Lending highlighted three main findings from its first Near- and Non-Prime Consumer Update, a quarterly proprietary data report on automotive finance trends in the near- and non-prime credit segments. Researchers found not only how much originations in that credit segment have softened, but also learned which brands lead the way in vehicle deliveries for […] [Read More]

We continue our series on the Auto Remarketing Podcast highlighting some of the panels and presentations from Used Car Week 2023. This episode features a dealer panel titled, “The Changing Used-Car Manager’s Role, and Now What?” The session was moderated by former dealer Kraig Quisenberry, who is now with ACV. The other participating dealers included: […] [Read More]