Fitch Ratings, Kroll Bond Rating Agency (KBRA) and S&P Global Ratings each shared their data and projections about auto delinquencies, the securitization market and the general U.S. economy through separate reports and news releases distributed in recent days. Before getting into greater detail about the subprime space, Fitch reported that … [Read More]

In a move that it says broadens its Used Digital Retail initiative, AutoCanada has purchased independent used-car dealership Auto Gallery of Winnipeg. AutoCanada said the acquisition of the store, which also includes the underlying real estate, would bring in annual revenues of more than $15 million. The deal is expected to be accretive to 2022 […] [Read More]

There’s a widening gap between wholesale and retail used-car prices, and it’s one that could end up helping dealers in the final months of the year. The mid-month reading of Cox Automotive’s Manheim Used Vehicle Value Index was down 2.3% from August on an adjusted basis, and just 0.6% higher year-over-year, according to a Data […] [Read More]

Last week, Vroom used its presence on Nasdaq to generate an incentive for 22 non-executive employees of Vroom and its affiliates. According to a news release, the compensation committee of Vroom’s board of directors approved the grant of inducement restricted stock unit awards covering 95,125 shares of Vroom’s common stock to those 22 non-executive employees […] [Read More]

Rapid Recon is looking to help dealers showcase the high-value features of vehicles currently in their inventory via its latest tool. On Monday, the originator of reconditioning time-to-line software for dealerships announced the immediate availability of OEM MSRP window stickers powered by iPacket for Rapid Recon users through its Recon Connect interface with dealers’ inventory […] [Read More]

Massachusetts attorney general Maura Healey made another move involving the automotive space last week, alleging more misdeeds involving how vehicles are financed. Healey’s office is suing a Haverhill, Mass., franchised dealership for engaging in what the AG called unfair, deceptive, and discriminatory pricing practices against Black and Hispanic customers by illegally charging them hundreds of […] [Read More]

Tara Kasica is the senior vice president of sales at Polly, an insurance marketplace for auto retail. She joins the Auto Remarketing Podcast and discusses the growth of embedded insurance in the car-buying process, how changes in car ownership models impacts insurance and much more. To listen to the conversation, click on the link available below, or […] [Read More]

At a time when many crops are harvested, the Jim Ellis Automotive Group now is planting seeds for success in the luxury vehicle space. On Friday, the dealer group announced the groundbreaking for the first phase of a three-part plan for Mercedes-Benz of Atlanta South, which is currently located in South Fulton, Ga. An all-new […] [Read More]

DDI Technology literally now has more room to maneuver. This week, the electronic lien and title technology firm and a subsidiary of IAA announced the grand opening of its newly expanded corporate offices in Irmo, S.C. Now with 35% more office space, DDI highlighted the modern headquarters will accommodate more than 200 people, satisfying the […] [Read More]

Automotive Ventures said Thursday it has added Repairify president Tony Rimas to its operating partner team. Rimas previously was the co-founder and managing partner of FM Capital. While there, he managed investments that included Autoniq, Frontier Car Group, Vroom, Autopay and Revolution Parts. His background also includes an operational leadership role with Red McCombs Automotive […] [Read More]