ADESA chief economist Tom Kontos returns to the Auto Remarketing Podcast for a wide-ranging conversation with Cherokee Media Group’s Nick Zulovich. Kontos shared his views on wholesale values, interest rates and whether the used-car industry needs only routine maintenance or a major overhaul. The conversation can be found in the window below. [Read More]

Dealer Trade Network, an inventory optimization system for new car dealerships, has partnered with Automotive Ventures’ DealerFund and added Steve Greenfield as a strategic advisor to the company. Dealer Trade Network said the Automotive Ventures DealerFund has “the most progressive, technology-driven dealership principals as limited partners,” and cited Greenfield’s “extensive industry expertise” as an asset […] [Read More]

Last week, iLending promoted Nick Goraczkowski to be president after serving the auto refinance company as senior vice president and chief revenue officer for more than a decade. Goraczkowski takes over for Tom Holgate, who served as company president for the past four years. Through a news release, Tom Harding, managing director of J.C. Flowers […] [Read More]

Volvo retailers and Polestar Spaces now can take advantage of Dealertrack digital contracting across all lease and retail contracts through Volvo Car Financial Services (VCFS) and Polestar Financial Services (PFS). Dealertrack highlighted that connecting Volvo retailers and Polestar Spaces with a single workflow for deal origination will allow for a unified digital contracting experience whether […] [Read More]

The pandemic apparently created another health impact; this time on auto financing. Analysis by S&P Global Mobility and TransUnion revealed loyalty to automotive finance institutions eroded significantly during the pandemic whether customers were leasing or buying vehicles. Across new-vehicle leasing and installment contracting, researchers found more than half of all customers defected to a new […] [Read More]

Consumer Portfolio Services chief operating officer Mike Lavin explained why PayNearMe now being natively integrated with the Cash App Pay is good for the subprime auto finance company. “The addition of Cash App Pay will give our customers even more choice and flexibility for making their auto loan payments,” Lavin said in a news release […] [Read More]

The Federal Reserve is doing more than adjusting interest rates nowadays. On Thursday, the Fed announced that its new system for instant payments, the FedNow Service, is now live. Officials said banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of […] [Read More]

Canadian Black Book released its Used Vehicle Retention Index for June, which decreased 0.2% from May and declined 1.76% year-over-year to sit at 158.5 points. “The Canadian wholesale market continues to be relatively stable this year without the wild swings up or down seen over the last few years.  Lack of both new- and used-car […] [Read More]

Online used car retail giant Carvana said it is collaborating with actors Kristen Bell and Dax Shepard on a series of national commercials and social videos beginning this summer that will illustrate several scenarios that demonstrate “how Carvana drives its customers happy.” The ads are intended to show how Carvana’s online process has “improved the […] [Read More]

With some of the most anticipated movies of the summer now in theaters, new survey data collected by OnePoll on behalf of Carvana highlighted what 2,000 respondents said about their dream car that they might have first spotted on the Silver Screen or elsewhere. The survey showed one in three respondents (33%) starting to nurture […] [Read More]