If one knock on the potential electric vehicle adoption is affordability — even for pre-owned models — then recent used EV data might be a welcome sign for retailers and consumers, alike. The latest CarGurus Intelligence Report outlined the 10 model-year 2013-2022 pre-owned vehicles with the biggest price declines between July and March, and the […] [Read More]

April’s used-car sales could end up softer than last month and year-ago levels, but dealers wouldn’t be wrong in cautious optimism for selling conditions in the months ahead, with supply and prices strengthening. TrueCar is anticipating that used-car sales will fall 1% year-over-year and drop 6% from March, coming in at roughly 3 million units. […] [Read More]

OCM Auto Financing Group Ltd., a subprime auto finance company based in Ottawa, said last week it has upped its fund size to $100 million. Comprising the facility is a combination of funds from investors via debenture offerings as well as funds from CWB Maximum Financial Inc. The latter is part of the Canadian Western […] [Read More]

Perhaps cyclical improvements in auto finance defaults during the springtime are making a notable return. According to data through March for the S&P/Experian Consumer Credit Default Indices, S&P Dow Jones Indices and Experian reported the auto default rate dropped 7 basis points on a sequential basis to land at 0.88%. Just before the pandemic arrived, […] [Read More]

Auto Remarketing is recognizing the 2023 Women in Remarketing honorees in the April edition of the magazine and will be posting Q&As with each of these outstanding leaders on the website. Next up is Jeanine Matus-Cunningham, national commercial accounts manager at BSC America. What is the top trend you’re watching in remarketing/wholesale automotive this year? The “new normal” […] [Read More]

Upstart, which offers an auto financing marketplace fueled by artificial intelligence, announced on Wednesday that Upstart Auto Retail was selected by Mercedes-Benz as an approved digital retail provider for its franchised dealerships. Upstart’s vehicle-buying software is now available to Mercedes-Benz dealers and their customers across the U.S., joining a collection of eight other brands using […] [Read More]

Amid a slew of consignors recognizing their respective annual auction winners, ServNet shared a recap of its member auctions who have received accolades in recent weeks. Starting with Bel Air Auto Auction, ServNet said it won Santander Consumer USA’s Retail Auction of the Year in the Northeast Region for the second straight year. Next up, […] [Read More]

Auto Remarketing is recognizing the 2023 Women in Remarketing honorees in the April edition of the magazine and will be posting Q&As with each of these outstanding leaders on the website. Next up is Brittany Lawrence, program director at KAR Global. What is the top trend you’re watching in remarketing/wholesale automotive this year? As dealers continue to adopt […] [Read More]

The auto transport industry continues getting used to the fact that electric vehicles are having a strong impact on the business, Dan Kennedy says. EVs are heavier than gasoline-powered vehicles, said Kennedy, who is senior vice president, business development, for CT Services. EVs tend to sit a little bit lower, which can limit the choice of equipment you can use to move the vehicles, he said. “[That] basically will say to the customer ... [Read More]

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