Many deals and relationships are forged on the golf course, and AutoPayPlus likely is looking to have the same thing happen via its latest marketing endeavoer. The provider of automated biweekly and early payoff services for automotive, RV, boat, home and student loans recently entered into an endorsement relationship with professional golfer D.A. Points. According […] [Read More]

Sourcing used inventory was the common focus of two panels during Used Car Week, and some key themes emerged from “The New Consumer Journey Horizon and “Smarter Used Vehicle Buying” discussions during the event this month in San Diego. Acquiring used vehicles directly from consumers is becoming an increasingly important channel for dealerships and it […] [Read More]

CarGurus chief executive officer Jason Trevisan said the company’s third-quarter financial metrics “fell short of the low end of our guidance range” as the company did not adapt its wholesale operations to what Trevisan described as “rapidly evolving macro market challenges.” He said the shortfall was driven exclusively by the company’s digital wholesale business. However, […] [Read More]

Washington, D.C.-based Easterns Automotive Group uses Cars.com’s Accu-Trade appraisal technology, and Easterns’ president Joel Bassam said that appraising a vehicle now takes as little as 15 minutes compared to an hour previously. During the Cars.com (CARS) third quarter 2022 earnings call on Nov. 3, CARS CEO Alex Vetter mentioned Bassam and Easterns, quoting Bassam as […] [Read More]

This dealership news roundup includes both more M&A activities as well as philanthropic endeavors. Beginning with the charity work, Larry H. Miller Dealerships announced last week an expansion of its existing holiday coat drive to include all 12 Arizona dealerships across Metro Phoenix and Tucson through a partnership with Valley of the Sun United Way […] [Read More]

Your nearby grocery store or big-box retailer might be bustling for the next several weeks as people get holiday gifts and meal ingredients. The scene at your favorite auto auction might be much less active, based on the projections Black Book shared on Tuesday through its latest installment of Market Insights. The foundation for that […] [Read More]

Last week, both Kroll Bond Rating Agency (KBRA) and S&P Global Ratings shared intriguing findings based on analysis of September and October data generated by the automotive securitization market, noting trends about originations, extensions, collections and delinquencies. SubPrime Auto Finance News obtained additional information from S&P Global Ratings, which said in a news release, “U.S. […] [Read More]

Lithia & Driveway has named a regional president of operations, appointing Adam Chamberlain to the role. Chamberlain, who joins the company after serving as president of Aston Martin NA, will lead Lithia’s consumer optionality strategy, support network development and overseeing the retailer’s operations teams in the East. He will work with Lithia’s three other regional […] [Read More]

On Monday, KAR Global announced the launch of a revamped website for its ADESA Canada marketplace. The company said the redesigned ADESA.ca aims to provide “greater clarity of products and services for both buyers and sellers — allowing current and prospective customers to easily navigate and find the tools they need.” In a news release, […] [Read More]

J.D. Power released its 2023 ALG Residual Value Awards last week, and topping the mass-market brand rankings for the second year in a row was Honda, while Lexus earned best premium brand honors for the third straight year. Breaking it down by segment, Kia earned five model-level awards to top the list, with Honda and […] [Read More]