Experian rolled out a new tool on Thursday to help finance companies and other lenders work with consumers who might not be in the prime space or have robust credit histories. The company announced the launch of Cashflow Attributes, a solution to help expand what Experian sees as “fair and affordable” access to credit, particularly […] [Read More]

Dealers Auto Auction of Mobile in Mobile, Ala., has named longtime KAR Global (now known as OPENLANE) executive Mike Drzayich as its new general manager. Drzayich’s experience includes more than 15 years with KAR Global, beginning in sales and as fleet lease manager in Dallas, selling 50,000 cars annually for some of the largest commercial […] [Read More]

Auto haulers crisscross the American kaleidoscope of highways and interstates, but the vehicle transport and logistics space took to a new route this week: Wall Street. Proficient Auto Logistics said Wednesday it priced its initial public offering at $15.00 per share, with the 14,333,333 common stock shares in the IPO expected to generate total gross […] [Read More]

Montway Auto Transport unveiled a new program this week to get the best professionals the company can get behind the wheel. The provider of third-party logistics brokerages launched its Preferred Carrier Network program, which is an initiative designed to attract and reward high-caliber car haulers. Montway highlighted this unique program offers “unmatched” benefits to carriers, […] [Read More]

Dealers looking to secure late-model vehicles at auction are in luck. One- to 3-year-old vehicles was the only age group to show a month-over-month increase in wholesale auction sales volume during April, climbing 3%, according to AuctionNet data from the National Auto Auction Association. Sales of 1-3-year-old vehicles climbed 15% from April 2023, as all […] [Read More]

America’s Car-Mart is poised to surge past a baker’s dozen of locations in the Lone Star State. The company announced last week that it has entered into a definitive agreement to purchase the dealership assets of Texas Auto Center (TAC). According to a news release, the transaction — which excludes legacy finance receivables — is […] [Read More]

Are traditional car dealerships becoming less relevant in this era of digital disruption? Not according to the latest study conducted by Urban Science and The Harris Poll. The 2024 Urban Science Dealership Transformation Index polled 3,005 U.S. car buyers in three “key dimensions” — dealer relevance, trend resistance and actions — to measure customer perception […] [Read More]

The title of a project TransUnion released on Thursday at its 2024 Financial Services Summit (attended by nearly 300 global financial services executives) might have given some frightening flashbacks of struggles with algebra. The new TransUnion study — Solving for Z — explored credit usage by today’s Gen Z consumers and compared it to similarly […] [Read More]

The first quarter of 2024 is one AutoCanada might like to forget. A combination of challenging market conditions — and weather conditions — made it a rough go for the Edmonton-based dealership group, which in its Q1 earnings call last week reported reduced revenues and a net loss for the three-month period that ended March […] [Read More]

It might be a cliché, but findings from the J.D. Power 2024 Canada Dealer Financing Satisfaction Study reinforced it. Relationships matter. Study orchestrators said this week lenders that are looking to capture a bigger piece of the market should focus on building and cultivating relationships with dealers, especially with Canada’s new-vehicle sales continuing to grow […] [Read More]