Bankruptcy new filings were up year-over-year across Chapter 7, 11, 13, and 15 in January, according to data provided by Epiq Bankruptcy. However, one expert said long-term trends remain “inconclusive.” Total U.S. bankruptcy filings in January came in at … [Read More]

In the auto finance world, things are surely changing rapidly. Prices for new- and used-car inventory were finally coming down a bit in late 2022, perhaps bringing more buyers into buy or “just look” during the holiday season.  Axis Auto Finance vice president of national sales Paul Barnes said, “One of the biggest hurdles our […] [Read More]

This dealer group roundup includes news from two retailers with footprints in both the U.S. and Canada. Starting with Edmonton-based AutoCanada, the company said Monday it has amended its credit facility, which has also been extended to April 15, 2026. The revolving facility in the amended credit facility is now $375 million, up from $275 […] [Read More]

Perhaps some of the topsy-turvy used-car trends that commercial consignors have dealt with the past couple years have drawn to a close. AutoIMS sorts that out in its Industry View report for the fourth quarter of 2022, while also emphasizing that “time is … [Read More]

Here’s more evidence of the trickle-down used-car impact from Tesla’s price reduction last month: The average price of a later-model used Tesla in the second half of January (after the price cut) was nearly … [Read More]

In an international move from the digital automotive wholesale company, KAR Global said Monday it has consolidated its ADESA UK and ADESA GWListe into ADESA Europe’s consolidated platform, where buyers can find vehicles from all areas on ADESA.eu. In a news release, Srisu Subrahmanyam, who is president of the KAR Services Group and executive vice […] [Read More]

Manheim announced a new general manager for its Manheim Lakeland location on Monday, as well as a new assistant vice president of reconditioning operations for the East and Southeast. Promoted to the Lakeland GM role was Catherine Woodall, who previously held the aforementioned recon AVP role. Chris Karwoski, who was most recently assistant GM at […] [Read More]

Among the episodes of the Auto Remarketing Podcast recorded during the 2023 Vehicle Finance Conference hosted by the American Financial Services Association, this one features Point Predictive chief fraud strategist Frank McKenna. Our monthly look at fraud trends within auto finance and beyond came via an in-person conversation in Dallas. To listen to the conversation, click […] [Read More]

A variety of tech-driven companies have had to trim their workforces recently, and Getaround announced its decision last week. In an effort to streamline operations and reduce costs to achieve a leaner path to profitability, the connected carsharing marketplace made an immediate workforce reduction impacting approximately 10% of the company’s current staff. Getaround’s restructuring plan […] [Read More]

Inovatec Systems is making sure its operations are secure for clients in multiple countries. The provider of cloud-based software solutions for auto finance companies in the U.S. and Canada announced last week that it has successfully completed all SOC certification processes, including SOC1, SOC2, and SOC3 audits. Inovatec said it is in compliance with all […] [Read More]