The contract negotiation process between Ford Canada and auto-worker union Unifor has been a busy one this week. The latest from the OEM and Unifor is that the two have reached a tentative labor agreement as of Monday evening. This tentative agreement has put the stop on impending strikes at Ford Canada plants — for the […] [Read More]

Inflation clearly is the focus of the Federal Reserve nowadays. Chair Jerome Powell said “inflation” 20 times during his opening statement after policymakers decided unanimously on Wednesday to maintain the target range for the federal funds rate at 5.25% to 5.5%. “We understand the hardship that high inflation is causing, and we remain strongly committed to bringing inflation back down to our 2 percent goal,” Powell began during that opening statement. “Price stability is the responsibility of the Federal Reserve. Without price stability, the economy ... [Read More]

Folks still need personal vehicles. And for many, the used-car market is the only or best option. That’s one way to explain why year-to-date used retail sales through August have climbed 4.5% — growth that has occurred despite the headwinds of high prices and steep interest rates, says Cox Automotive. “Slightly lower used-vehicle prices, coupled […] [Read More]

Electric vehicle subscription company Autonomy announced a partnership with EV Auto, a Utah-based EV-only car dealership with plans to expand nationally, designed to expand access to affordable and hassle-free EV ownership in dealerships across the country. Autonomy said younger consumers are expressing an interest in replacing traditional vehicle ownership in favor of a simplified subscription […] [Read More]

Reviver is now offering a financing option for its RPlate digital license plate. The technology company said it is providing increased flexibility for customers of both its battery-operated and wired models with buy-now, pay-later financing on the $599 purchase price available through the Affirm financing services. “We are constantly listening to our customers to build […] [Read More]

Wisconsin-based Ewald Automotive Group has added to its holdings with the acquisition of two dealerships from International Autos Group. The dealerships, now renamed Ewald Volkswagen and Ewald Buick GMC, are both on Main Street in Menomonee Falls, Wisc. The family-owned business, which was founded in 1964, now operates 10 dealerships and a collision center in […] [Read More]

Mitsubishi Motors North America has added Xtime, Cox Automotive’s service appointment scheduling platform, to its MiCAR digital customer experience management platform for Mitsubishi dealers. “At Mitsubishi Motors, our customers expect quality, speed, efficiency and transparency across the end-to-end service experience, and the addition of Xtime to our internal MiCAR program stands to help our dealer […] [Read More]

Title work is crucial for consignors, dealerships and finance companies when getting repossessed vehicles through the wholesale market, especially since they’re likely in a negative position if the contract holder defaulted just a few months into the term. James Canepari, senior director of national commercial accounts at Manheim, put it this way during a recent […] [Read More]

A wide array of organizations — from dealerships to finance companies to technology providers — are represented among the 14 honorees selected for this year’s Women in Auto Finance, presented by Provana. One of the award programs orchestrated by Cherokee Media Group, this year’s selections also highlighted in the current edition of Auto Fin Journal […] [Read More]

Vero Technologies, a wholesale financing technology and loan servicing platform, announced the close of its $8.5 million Series A funding round on Wednesday. Led by venture capital fund BankTech Ventures, Vero said it also received significant investment from Sopra Steria Ventures and other notable fintech investors including Arcadia Funds, Antler, AAF Management and the Independent […] [Read More]