Mercedes-Benz Financial Services USA wants to be involved in more than just vehicle leases and retail installment sales contracts. The captive now offers Mercedes Pay, which is designed to turn the vehicle into a payment device. The newly released in-car feature, available on any Mercedes-Benz vehicle in the U.S. with the MBUX infotainment system and […] [Read More]

Lightico reinforced its capabilities on Monday by bringing a European company into its portfolio. The provider of technology to facilitate digital customer interactions announced the acquisition of Vizolution in a move meant to position the joint company to be a global leader in B2B2C digital completion for the financial services and telecom industries. The joint […] [Read More]

Over the course of the pandemic, leasing fell way off,  and the auto finance market saw loan-term lengths soar amid a difficult economic environment for consumers. And it’s likely in Canada, the market may never return to the norm dealers have historically been used to. The leasing fall out is tied to an evolving lender […] [Read More]

The American Recovery Association is seeking a new executive director. According to an industry message the organization sent last week, ARA highlighted eight characteristics it is looking for among potential candidates, including: —A self-starter with the ability to work independently —Proven ability to demonstrate good customer service skills —Creative and strategic approach to revenue generation […] [Read More]

Black Book’s Market Insights showed that wholesale values dropped 0.31% last week. Analysts said that level of depreciation exceeded pre-COVID norms for this time of year since values typically drop by 0.22%. As a result, Black Book found that the estimated average weekly sales rate increased to 49%. “June has started off on a positive […] [Read More]

Dimmit Automotive Group, which includes 13 dealerships throughout Florida’s Gulf Coast, has expanded to the powersports segment. The group has purchased Cycle Springs Powersports in Clearwater, Fla., according to a news release from Performance Brokerage Services, which advised on the transaction. Family-owned Dimmit Automotive Group has been in operations for nearly a century, following Lawrence […] [Read More]

Assurant plans to cover five primary topics in its comprehensive electric vehicle (EV) sales training course. The course titled, “EV Sales Professional’s Blueprint” is designed to address the fundamental differences between EVs and traditional internal combustion engine (ICE) vehicles and gives sales professionals the tools to grow their sales expertise ahead of the coming wave […] [Read More]

FrogData expanded its platform for automotive fueled by launching WarrantyBoost+, what the company called a “groundbreaking” annual-subscription product that can combine warranty rate enhancement with an intuitive service dashboard and key performance indicator (KPI) tracking. By leveraging its AI-driven warranty analytics platform, FrogData said dealers can expect faster and more accurate results, ensuring optimal rate […] [Read More]

The wholesale vehicle market is rounding the corner from spring with prices continuing to ease from year-ago levels. In May, Black Book’s Used Vehicle Retention Index fell on a year-over-year basis for the eighth consecutive month, coming in at 175.4, down 7.1% from May 2022. While the index has slowed year-over-year each month starting with […] [Read More]

defi MANAGED SERVICING Remarketing, which is the remarketing arm of defi SOLUTIONS, has named its 2022 Auction of the Year. Earnings the award is Manheim Dallas, with second place going to ADESA Cincinnati/Dayton and third place going to ADESA Phoenix. “Manheim Dallas consistently ranks as a volume sales leader,” said Steve Bissett, defi SOLUTIONS vice […] [Read More]