While EFG Companies sees some market strength and positive economic and consumer trends, experts acknowledged slow inventory growth, price concerns and stubborn inflation have the potential to create revenue barriers in the second half of 2023 for the retail automotive and powersports industries. Company leaders recommended that dealer principals, agents, and finance companies approach the […] [Read More]

A little more than a month after naming a new CEO, Shift Technologies said Tuesday it is restructuring and reducing its workforce. Shift will also discontinue investment into its dealer marketplace so that it can focus on its core business. The restructuring will reduce Shift’s headcount by roughly 34%, which the company estimates 60% of […] [Read More]

Taryn Young, vice president of marketing at iPacket, joined the Auto Remarketing Podcast from the Canada’s Used Car Week Podcast Stage last month in Toronto. Young and Cherokee Media Group senior editor Joe Overby talk about the company’s origin at a dealership as a way to digitize all the documentation (history reports, reconditioning receipts, etc.) […] [Read More]

There is no perfect used car (or a new one, for that matter). If you’ve ever worked at a franchise dealership, you’ve had brand-new vehicles that still needed some level of attention. The ironic thing is that consumers don’t expect used vehicles to be perfect, either. Consumers say they get nervous and skeptical when vehicles […] [Read More]

Continuing our Auto Remarketing Podcast episodes originating from this year’s NIADA Convention in Las Vegas, Cherokee Media Group’s Nick Zulovich shared a conversation with NextGear Capital president Scott Maybee. Among other topics, the pair discussed how independent dealerships are remaining resilient financially as the cost of funds and doing business continues to escalate. The conversation […] [Read More]

F&I and dealer training provider JM&A Group has created a free career advancement program for women in retail automotive that it says is the first of its kind. The program, geared toward increasing representation and opportunity in the automotive industry, aims to elevate talent and expand opportunities for minority groups by offering free, immersive training […] [Read More]

Car IQ is compiling quite a fleet of relationships to spread the use of its payment technology. The company on Wednesday teamed up with Visa to enable vehicles to transact directly with Visa’s global ecosystem of merchants and banks, and purchase fuel, tolls, parking, insurance, service, and repairs using the Car IQ Pay vehicle wallet. […] [Read More]

Experts said credit scores are generally higher nowadays, but outstanding portfolios aren’t necessarily reflecting a financial health often seen with contracts connected to higher points on the credit spectrum. A new TransUnion study determined that median credit scores — aided by government assistance programs, lower credit usage and loan payment forbearance offerings — increased markedly […] [Read More]

Sometimes, finance companies literally are doing damage control when vehicles in their outstanding portfolio are involved in crashes, weather events or other incidents. On Wednesday, Solera Global Corp launched Intelligent Triage, a web browser-based tool the company said can eliminate the need for extensive integrations or software installations. Solera highlighted this global visual intelligence service […] [Read More]

The American Recovery Association packed an agenda for its next information webinar, with a trio of experts set to discuss four of the most pressing topics impacting repossession agents nowadays. The session also is scheduled to include two of the industry representatives in Washington, D.C., who plan to give an update on what’s happening on […] [Read More]