CarMax is sharing more than just its used-vehicle retail performance, as on Monday the company released its 2023 Responsibility Report, which features expanded disclosures regarding its environmental, social and governance priorities. The report also includes details on the company’s relevant climate-related risks and opportunities in a manner aligned with the recommendations of the Task Force […] [Read More]

Stephens announced managing director Joe Mowery now will head the investment banking dealership practice, following 20 years as head of the department’s power and industrial technology group. The independent financial services firm said Mowery assumes the role from Matthew Marks, who was recently named Stephens’ head of investment banking. Stephens’ investment banking dealership practice provides […] [Read More]

If you haven’t already, it might be wise to get your service drive running as efficiently as the vehicles you repair for customers and get to stand tall on the front line of your inventory. With more than 284 million vehicles in operation on U.S. roads, the latest analysis from S&P Global Mobility indicated average […] [Read More]

Amid continued supply challenges, used-car sales appear to have slowed in April. According to estimates released Monday by Cox Automotive, there was approximately 3.06 million total used-vehicle sales last month, which was down from 3.20 million in March and 3.11 million in April 2022. Looking at used retail sales (or those originating at a dealership), […] [Read More]

For California customers in your auto finance portfolio who might not have a checking account already, they might have an option to get one through California Credit Union. The institution said last week that it received certification by the national Cities for Financial Empowerment Fund (CFE Fund) for its checking account product, which can benefit […] [Read More]

Federal officials are responding to an operation that allegedly is sending robocalls saying they originate from the Social Security Administration. Last week, the Federal Trade Commission sued to stop a voice over internet protocol (VoIP) provider XCast Labs that the regulator said is continuing to funnel hundreds of millions of illegal robocalls through its network, […] [Read More]

Point Predictive recently launched its newest solution, BorrowerCheck 3.0, to help auto finance companies, dealerships and other companies involved in financial services. The San Diego-based company that provides artificial intelligence solutions powered by more than 22 billion proprietary risk attributes said BorrowerCheck 3.0 is available via API or web browser and addresses the problem of […] [Read More]

With more consumers considering their insurance options while securing auto financing and taking delivery at dealerships, potential ramifications surfaced as LexisNexis Risk Solutions released its 2023 U.S Auto Insurance Trends Report. LexisNexis Risk Solutions aggregates annual market data about driving behaviors, consumer auto insurance shopping, underwriting and claims to help insurance carriers better understand the […] [Read More]

The Canadian auto industry, be it retail, remarketing or finance, is full of young leaders who have achieved massive success at an early age. And for the ninth consecutive year, Auto Remarketing Canada is excited to honor many of those individuals in “Remarketing’s Under 40.” This year’s class will be recognized in the upcoming issue […] [Read More]

In addition to announcing first-quarter earnings results, Shift Technologies said Thursday it is reviewing strategic alternatives — which could include “potential sale of certain operating businesses, third party investment or partnership opportunities and/or funding alternatives for our marketplace business, ”the company said. Shift’s board plans to “proceed in a timely manner” but did not set […] [Read More]