Edmunds said its analysts have adjusted their auto finance data cleaning process to include new and used monthly payments up to $2,000 to account for changes to the market, as previously the limit was up to $1,500. Based on the third quarter data Edmunds shared on Monday, you can understand why. Edmunds reported 14.3% of […] [Read More]

CDK Global wants dealers to oversee what the company believes is one of their most important parts of their businesses. This week, the automotive retail software provider unveiled what it dubbed, “Data – Your Way.” The announcement came at its second annual CDK CONNECT, an event that brings the industry together and showcases how CDK […] [Read More]

Coinciding with the close of the third quarter, PureCars rolled out its latest whitepaper to help dealerships sharpen their advertising strategies. The provider of digital marketing technology and services for automotive dealers called its new whitepaper: “5 Key Takeaways from the 2022 PureCars Digital Advertising Survey.” The paper looks at specific digital advertising trends facing […] [Read More]

Here’s another piece of auto finance industry data to consider as you close the books on another month and quarter. While perhaps still relatively modest, auto defaults made their largest month-over-month rise so far this year. According to data from S&P Dow Jones Indices and Experian, the August auto default rate came in at … [Read More]

For the second time in September, Launcher enhanced its technology geared to streamline originations via collaboration with an industry partner. After earlier boosting integrated access to CARFAX Vehicle History Reports, this week the company announced an expanded integration of Launcher’s appTRAKER Loan Origination System (LOS) with The Work Number from Equifax, the credit bureau’s centralized […] [Read More]

Chevrolet showed up in the heart of electric vehicle country one Friday in September to show off its Bolt EV and Bolt EUV (electric utility vehicle). The automaker aims to overcome a setback with its entry-level electric vehicle after it had to recall more than 140,000 because of a battery defect. Despite that glitch, General Motors […] [Read More]

Used-car sales are down, prices are up and pre-owned retail inventory continues to expand — slowly but surely. Cox Automotive chief economist Jonathan Smoke, senior economist Charlie Chesbrough and the Industry Insights team drilled down into these trends on the company's Q3 Industry Insights and Forecast Call on Wednesday. The team found that … [Read More]

With the industry surveying damage in Florida as businesses in Georgia and the Carolinas brace to be in the storm’s path, the National Auto Auction Association (NAAA) made a call to help places impacted by Hurricane Ian. NAAA said in an industry message sent on Friday morning that association leadership had been in contact with […] [Read More]

Hurricane Ian made landfall on Wednesday near Cayo Costa, Fla., which is just south of RISC’s corporate headquarters in the Sunshine State. In response to the impact caused by the destructive storm, RISC said on Thursday that the company is waiving all RISC Pro fees for any repo agency located in Florida. RISC said this […] [Read More]

Tough sledding continues in the used-car retail market. TrueCar is forecasting an 11% year-over-year decline in pre-owned car sales, with 3 million used cars sold. That’s off 4% from August. Granted, the year-over-year drop is … [Read More]