TomoCredit rolled out its latest tool last week aimed at expanding credit accessibility for millions of Americans. The fintech startup — which began because of experiences of trying to secure auto financing — introduced TomoScore, which TomoCredit said is an innovative cash flow-based credit score that can provides finance companies and lenders a “risk-free” way […] [Read More]

It was springtime in the auction lanes last month. Prices were down double-digit percentages from a year ago, but the market was buzzing as dealers were busy buying units amid blooming retail demand. “The wholesale market got into the spring mood in February, with dealers ... [Read More]

Coinciding with International Women’s Day, Nissan highlighted a pair of success stories on Friday from one of its franchised stores in the Southeast. One recapped the success within a family legacy, while the other highlighted the success of a salesperson originally from Central America, prompting her to say the car business “changed my life.” Nissan […] [Read More]

We Help Dealers, a jack-of-all-trades dealership service provider, is adding another trade — wholesale vehicle acquisition — to its offerings. The company has launched a comprehensive inventory sourcing service, designed to boost dealer efficiency and productivity by handling the necessary research, based on individual dealer preferences. We Help Dealers, founded and owned by auto industry […] [Read More]

It has been a “leap year” in more than one sense for wholesale vehicle volumes. There have already been 1.12 million units sold at auction year-to-date through February, which is a 13% increase from the first two months of 2023, according to AuctionNet data from the National Auto Auction Association shared exclusively with Auto Remarketing. […] [Read More]

The recovery in commercial consignment volume is already bearing fruit for marketplaces in the wholesale auto industry. At OPENLANE, for instance, 710,000 commercial consignment vehicles were sold through its marketplaces last year, compared to 661,000 in 2022. In the fourth quarter, OPENLANE had 183,000 commercial vehicle sales, up from 151,000 a year earlier. The growth in commercial vehicle volumes for the company has ... [Read More]

Federal Reserve chair Jerome Powell and Fed governor Michelle Bowman made separate public appearances on Thursday, but each policymaker maintained similar stances on how the entity is approaching interest rates and inflation. Appearing before the U.S. House Financial Services Committee to give the Federal Reserve’s semiannual monetary policy report, Powell acknowledged that inflation still hasn’t […] [Read More]

New Jersey dealerships now have to clean more than just the upholstery, center console and cargo area of used vehicles. Privacy4Cars pointed out to Auto Remarketing this week that Gov. Phil Murphy on Jan. 16 signed into law the Motor Vehicle Data Deletion Act. It’s associated with how a vehicle’s infotainment system can capture personal […] [Read More]

Reconditioning operations is one of Manheim’s fastest-growing areas, and its parent company Cox Automotive is working to keep up, announcing plans to open its fifth auto tech training center this year. The new center, to be located in Chicago, joins the four current training centers at Manheim locations in Southern California, Central Florida, New Jersey […] [Read More]

Wholesale vehicle price depreciation picked up a bit last week in Canada, falling by an average just over a half-percent. Canadian Black Book found that used-vehicle prices declined by an average of 0.55%. Car depreciation was once again higher, dropping by an average of 0.67%, while trucks and SUVs dropped 0.42%. Two out of 22 […] [Read More]