Wholesale prices continued to soften as the industry speeds toward Memorial Day weekend, with Black Book noticing declines at about the same rate no matter the vehicle age. Analysts pegged the overall value decrease at 0.13% during the week that closed on Saturday. Black Book shared dissected data in its latest installment of Market Insights […] [Read More]

For certified pre-owned vehicle sales in April, it wasn’t all good news and it wasn’t all bad. According to a Cox Automotive analysis of Motor Intelligence data, there were 214,684 CPO sales last month. That was down 4.2% year-over-year and 6% softer than March, but year-to-date sales through April are beating year-ago figures by 6%, […] [Read More]

Tom Hudson might not be practicing consumer finance law on a daily basis nowadays, but accolades continue to be given to the founding partner of Hudson Cook. On Tuesday, the National Automotive Finance Association announced that Hudson has been named the inaugural recipient of the Jack Tracey Pinnacle Award, which recognizes individuals who have made […] [Read More]

The Ed Morse Automotive Group continues to expand in Illinois, announcing Monday it has purchased its third store in Henry County in recent weeks. The group bought Motor City Chevrolet GMC in Kewanee, Ill., from Eric Ellenberger in a deal brokered by Performance Brokerage Services. It will be renamed Ed Morse Chevrolet GMC. Ed Morse […] [Read More]

Chris Holzshu says vehicle affordability continues to be a focus for consumers as interest rates for new and used vehicles have increased three percentage points since last year. Factory incentives “have yet to match relative demand,” said Holzshu, who is executive vice president and chief operating officer for Lithia & Driveway. “However ... early recovery in new-vehicle inventory and most domestic and luxury nameplates, modest increase in incentives, strong used vehicle trade-in values [and] a decrease in the average amount financed, leave consumers’ monthly payments relatively flat year-over-year,” Holzshu said. Holzshu made his comments during Lithia’s first quarter 2023 earnings call that took place on April 19. Although the company reported the highest first-quarter revenue in company history ... [Read More]

One of the consequences of harvesting high-margin sales, while market prices are sky high, is that future equity positions can be put at risk. That is precisely what is unfolding as dealerships assess their prospects for growth between now and the middle of the decade. J.D. Power research shows that approximately 24 million buyers purchased […] [Read More]

Next up on our series of podcasts from April’s Auto Intel Summit & NRC Spring Summit is a panel discussion, moderated by Cherokee Media Group’s Joe Overby, that features Jai Macker of EBlock, Terence Rasmussen of CarMax, Jason Ferreri of OPENLANE and Sawyer Walker of America’s Auto Auction. Titled “Balancing Brick & Mortar + Digital […] [Read More]

No, not THAT Coach K, but with Steve Kapusta of Ally and SmartAuction. In this episode kicking off our series of “live shows” from April’s Auto Intel Summit & NRC Spring Summit, Cherokee Media Group president Bill Zadeits talks with Kapusta about his successful career rising to the top of one of the industry’s most […] [Read More]

Messages obtained by SubPrime Auto Finance News during the past couple of days perhaps illustrate how wide-ranging the auto finance landscape currently is. On Friday, Cherokee Media Group received an anonymous tip that Truist Bank and Regional Acceptance were set to make major changes in how they work with dealerships. When asked for comment, a […] [Read More]

Last week, LexisNexis Risk Solutions released the results of its annual Cybercrime Report, an analysis of data from 79.8 billion transactions processed through its LexisNexis Digital Identity Network throughout 2022. The report titled, “Trust and Collaboration as Foundations to Fight Fraud,” showed that the global digital attack rate increased 20% year-over-year, continuing the trend of […] [Read More]