ADESA chief economist Tom Kontos shared a similar reaction with SubPrime Auto Finance News as his expert brethren, saying the Federal Reserve voting unanimously to keep the federal funds rate at 5.25% to 5.5% was to be expected. “Moreover, the Fed’s indication that further rate tightening remains a possibility strikes me as prudent, considering the […] [Read More]

ACERTUS wants to make vehicle shipping transparent. The automotive logistics-as-a-service platform has launched its new Transportation Management System, designed to give shippers visibility into the process with real-time GPS tracking, digital inspection data, automated reporting and custom data visualization. The company said its new platform, powered by artificial intelligence/machine learning and seamless connectivity with ACERTUS’s […] [Read More]

TD Bank is taking a stand against discrimination and hate throughout communities in Canada and the U.S. through another $250,000 donation in response to the ongoing conflict in the Middle East. So far, TD has donated a total of $1 million CAD in response to the recent conflict. This donation will go toward educational programs […] [Read More]

Roughly two weeks after rebranding to its current name, Cars Commerce is expanding its platform into Canada, giving the company a much larger presence in the country. The company announced Thursday morning that it has acquired D2C Media Inc., an automotive technology and digital solutions provider in Canada, for $105 million CAD ($76 million USD). […] [Read More]

AutoNation has launched a new platform to sell and deliver auto parts. AutoNationParts.com is an e-commerce website that allows customers to purchase parts and accessories and have them shipped directly to their homes. AutoNation said the site aims to provide fast nationwide shipping for guaranteed-to-fit genuine manufacturer parts from more than 25 brands in order […] [Read More]

Sonic Automotive’s scaled-back, standalone EchoPark used-vehicle operation is narrowing its losses and gaining positive momentum, said its executives during the dealership group’s most recent quarterly earnings call. EchoPark’s income loss of $16.9 million in its third quarter that ended Sept. 30 represents a 46% improvement over the year-ago quarter loss of $31.1 million according to Sonic’s financial results. In the third quarter, EchoPark grew its ... [Read More]

The Jeff Wyler Automotive Family reached a milestone today — 50 years in business. In that span, the Ohio-based dealer group has grown from a small Chevrolet dealership in Batavia to 23 locations in Cincinnati, Columbus, Dayton and Louisville, Ky., representing more than 40 brands and selling more than 45,000 cars per year. The original […] [Read More]

Autosled, a provider of digital technology for vehicle transport logistics, has promoted vice president of data and analytics David Darden to chief information officer, the company said. In his new position, Darden will lead Autosled’s information technology and oversee its systems and operations, and will be responsible for the company’s software development. “Our customers want […] [Read More]

On Wednesday, Open Lending Corp. released the addition of new alternative data attributes for auto finance applicants to more accurately inform the risk score generated by its Lenders Protection solution. Open Lending highlighted that access to expanded criteria from TransUnion and LexisNexis allows Lenders Protection to analyze more robust vehicle buyer data for decisioning. These […] [Read More]

Wolters Kluwer announced third quarter results and analysis from its Auto Finance Digital Transformation Index this week. The project tracks the rate at which auto dealers, service providers and finance companies are seeing growth in the evolution from paper-based finance back-office processes to digital. According to the newest index, auto dealers, service providers and finance […] [Read More]