In response to the continuing growth of its agency partners network, AutoPayPlus expanded its sales team this week with the addition of Damon Walker as agency development manager. Skilled in finance, sales, service and consulting, AutoPayPlus highlighted that Walker is an experienced automotive software and data executive with over a decade of sales leadership experience. […] [Read More]

You’re likely not the only one with significant interest in how auto defaults and vehicle repossessions are trending. It’s why Jeremy Robb, senior director of economic and industry insights at Cox Automotive, delved into the subjects during an episode of the Manheim Market Insights Series posted online last week. “Due to economic volatility we’re seeing in today’s financial markets, we’re getting a lot of questions around auto loan default rates and repossessions. We want to make a few things clear for our audience,” Robb said. Robb then went into four data points that might interest finance companies of all sizes ... [Read More]

A founding team member of Inovatec Systems now is the company’s chief information officer. The provider of cloud-based software solutions for finance companies announced this week that it has promoted Mario Rea to be CIO and be responsible for the company’s IT operations, infrastructure, security and compliance initiatives. Rea first joined Inovatec in 2011 and […] [Read More]

J.D. Power said Wednesday it is collaborating with connected vehicle analytics and infrastructure company Motorq to provide insights to the auto industry based on connected vehicle data. And this partnership kicks off with used electric vehicles — specifically, data to measure EV battery health. The companies will utilize data from actual vehicles and work with […] [Read More]

Even though some automakers have expanded certified pre-owned vehicle eligibility to include older model-years, dealer demand for the late-model vehicles that have historically been the bread-and-butter of CPO programs remains strong. And their values in the wholesale market are climbing in early 2023. That’s according to the latest Kontos Kommentary report from ADESA chief economist […] [Read More]

Intellicheck and DealerShop now are working together in an attempt to keep another way from fraud worming its way into a dealership’s systems and books of business. Intellicheck, an identity company delivering on-demand digital and physical identity validation, announced a partnership with DealerShop  to offer dealer and collision center members access to “state-of-the-art” fraud protection. […] [Read More]

A popular college basketball tournament has been happening this month that’s often associated with the description, “madness.” The wholesale market might not be quite to that level, but used-car managers certainly are having to pay more for vehicles at auction. According to Black Book’s newest Market Insights, wholesale prices jumped another 0.51% during the week […] [Read More]

Group 1 Automotive is expanding in the Sunshine State, and also announced Tuesday that it is updating its year-to-date share repurchase activity. Starting with its latest acquisition, Group 1 said it has purchased Estero Bay Chevrolet in Estero, Fla., which is near Fort Myers. The dealership, which Group 1 said ranks fifth among Florida Chevy […] [Read More]

Credit Acceptance said in January that it would “vigorously defend itself” during a robust lawsuit brought by the Consumer Financial Protection Bureau and the New York attorney general. Last week, the finance company gained support for seeking to have a judge dismiss the lawsuit. That support came from a trio of notable trade associations and […] [Read More]

For this bit of dealer buy-sell news, we go to Minnesota, where Jason Jalbert has purchased Thief River Ford from Steve Lillestol. The purchase of the Thief River Falls, Minn., store was announced by Performance Brokerage Services, which advised on the sale. In the news release, Lillestol said: “A huge shout out of thanks to […] [Read More]