In a preview of what’s in store for Canada’s Used Car Week, which is set for the Delta Hotels Toronto Airport & Conference Centre on June 12-14, Stephanie Lamb appeared on the Auto Remarketing Podcast. The director of automotive lending at CIBC shared what’s caught her attention so far this year and more in a […] [Read More]

Being able to react to change is a good skill to have, but it’s not a plan and it’s not sustainable. Mike Tyson was once quoted saying, “Everyone has a plan until they get punched in the face.” I think it’s fair to say we all got punched in the face with the COVID-19 pandemic. […] [Read More]

Electric vehicles are steadily gaining share in both the used- and new-vehicle markets. But not every consumer maintains their monthly payments on those EVs. To help repossession agents handle the unique situations EVs present, the American Recovery Association is hosting a free webinar, focusing on three important questions. They include: —Can an electric vehicle catch […] [Read More]

Two Pennsylvania credit unions are merging. First Commonwealth Federal Credit Union in Allentown and Bellco Federal Credit Union in Wyomissing said on Wednesday that they have jointly agreed to merge, pending approval from the National Credit Union Administration (NCUA) and Bellco’s membership. According to a news release, the merger is expected to be completed during […] [Read More]

Along with detailing how much risk is on the roads nowadays, perhaps TransUnion poured a little cold water on the strategy employed by some dealerships when they can help vehicle buyers look for a better rate on their car insurance during the financing and delivery processes at the store. TransUnion’s latest quarterly Insurance Personal Lines […] [Read More]

Two technology providers specializing in originations and underwriting announced this week they’re now working together. Launcher finalized an integration partnership with TurboPass, enhancing multi-verification capabilities and simplifying the funding process for mutual finance company clients utilizing Launcher’s appTRAKER Loan Origination System. With this integration, Launcher and TurboPass can streamline the verification process, providing a seamless […] [Read More]

In October, the Federal Trade Commission announced an action against Passport Automotive Group for what the regulator called in a news release as “deceiving consumers by tacking hundreds to thousands of dollars in illegal junk fees onto car prices and for discriminating against Black and Latino consumers with higher financing costs and fees.” The FTC […] [Read More]

AutoNation will be taking on the heat of summer with a new executive vice president and chief financial officer. The dealer group announced on Tuesday that Thomas Szlosek will fill these positions effective the start of his employment with AutoNation, which is expected to be on or about Aug. 7. AutoNation said Szlosek will report […] [Read More]

It seems like dealerships are being bought and sold as often as their vehicle inventories nowadays since three more rooftops gained new ownership on Monday and Tuesday. Beginning near Boston, McGovern Automotive Group announced its acquisition of Acton Chrysler Dodge Jeep Ram in Acton, Mass., representing group’s 25th dealership acquisition in six years. According to […] [Read More]

In less than two weeks, it will be Memorial Day weekend and the unofficial start of summer. That timeframe coupled with last week’s trends showing wholesale prices softening another 0.15% and the estimated average weekly sales rate remaining at 49% prompted Black Book to ask questions. “Auction conversion rates remained stable last week,” analysts said […] [Read More]