Total 2023 bankruptcy filings increased 18% year-over-year, but Epiq AACER put that notable rise in context. According to data provided by Epiq AACER on Wednesday, total bankruptcy filings in 2023 came in at 445,186, which was up from the 2022 total of 378,390. While representing a substantial year-over-year increase, Epiq AACER pointed out total bankruptcy […] [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 trio of recovery industry executives for a discussion about how delinquencies, repossessions and recoveries might unfold in 2014. The panel included Jeffrey Marsh of Millennium Capital and Recovery Corp., Scott […] [Read More]

After a late fall juncture that generated multiple instances of vehicle segments dropping in value by 3% or more in a single week, Black Book watched the wholesale market finish 2023 with what analysts classified as “normal.” Black Book reported on Wednesday that wholesale values declined 0.68% during the week that stretched to the next-to-last […] [Read More]

OPENLANE wants to make damage detection clear and simple. That’s the company’s goal in introducing Visual Boost AI, a tool that produces damage detection overlays for every dealer-consigned vehicle in OPENLANE’s U.S. marketplace. The artificial intelligence-powered technology is designed to supplement vehicle inspection data by prominently highlighting detected exterior damage directly onto photos within the […] [Read More]

There is roughly a 10.2 million-unit deficit in the number of 1- to 3-year-old vehicles expected to re-enter the pre-owned car market in the near future, leading to a “sparse and expensive” picture for dealers’ used-car inventories, Cars Commerce says in its 2024 Automotive Trends report released Wednesday. And if the company’s data is any indication, consumers and dealers alike may be motivated to utilize the trade-in route. Citing data from its Accu-Trade unit, Cars Commerce said that trade-in values on 1- to -5-year-old used vehicles are ... [Read More]

America’s Auto Auction Houston has a new general manager. Kyle Drake, one of Auto Remarketing’s “40 Under 40: Industry” honorees for 2023, has been promoted into the auction’s top position, parent company America’s Group announced Wednesday. Drake joined AAA Houston as assistant general manager in February after eight years with AAA Austin, where he began […] [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 panel discussion titled, “The Top 3 Recovery Challenges & Ideas for Resolution,” with Starr Haynes-Sawalqah of Alpha Recovery, David Baker of American Recovery Service, Bill Ploog of WCP Consulting and […] [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 panel discussion titled, “Ransomware: First-Hand Experiences & Resolutions,” with Micky Watts of Anderson Brothers Bank, Richard Buttermore of RouteOne and Marguerite Watanabe of Connections Insights. Listen to the episode in […] [Read More]

Electric vehicle manufacturer Fisker and its related finance company, Fisker Finance, are collaborating with JP Morgan Chase Bank to offer top qualified buyers in the U.S. access to vehicle financing at rates as low as 1.99% APR for 60 months. The campaign started at the beginning of December and runs through Tuesday. Selected U.S. buyers […] [Read More]

In late December, Origence and Tesla announced a partnership to offer credit union financing to electric-vehicle buyers through the Tesla website. Origence sees this partnership as provide Tesla buyers who are seeking affordable monthly payments with more options through credit union financing. By making credit union financing available at the point of purchase, Origence said […] [Read More]