One way your dealership could see customers beyond when they take delivery is by guiding them toward a vehicle that’s more affordable to insure and maintain. That vehicle could be one of the 2023 model-year brand and category winners of the 5-Year Cost to Own Awards recently given by Kelley Blue Book. Examining ongoing costs […] [Read More]

Michael Manley said AutoNation decided to “realign, reposition and reduce” its used-car inventory in the first quarter of 2022. That appeared to be a wise move as the year went on, said Manley, who is AutoNation’s CEO. “It did, however, set us up for a tough comp per unit volume in Q1,” Manley said during AutoNation’s first quarter 2023 earnings call on April 20. Manley said during the call that the company will “remain nimble” in its approach to used vehicles. “And expansion of our AutoNation USA footprint remains ... [Read More]

Pagaya Technologies reinforced its executive team focused on automotive to deliver artificial intelligence infrastructure for the financial ecosystem. Giancarlo Marchesi has joined Pagaya as general manager to oversee the auto and personal lending businesses. Pagaya highlighted Marchesi is well-versed in the space, having served as chief risk officer for auto at Wells Fargo and head […] [Read More]

Origence announced results of its board of directors election conducted during the company’s annual shareholders meeting. The new board members for the provider of technology solutions for credit unions are: —Bob McKay, president & CEO of Together Credit Union of St. Louis, an incumbent director —Ron Neumann, president & CEO of OCCU, formerly associate director […] [Read More]

Last week, Open Lending Corp. released the results of a case study that shows how Sound Credit Union grew its direct and indirect automotive finance volume and yield with Lenders Protection. Officials said Sound Credit Union implemented Lenders Protection in six weeks, allowing the Washington state credit union to book new, risk-mitigated automotive retail installment […] [Read More]

KBRA announced multiple personnel moves on Monday. The ratings agency and observer of the securitizations market for automotive and other industry segments said Rosemary Kelley has been named head of structured finance business development. In this newly created role, the company said Kelley will lead KBRA’s business development effort for the ABS, CMBS, and RMBS […] [Read More]

The tide is shifting when it comes to how cars are marketed, bought and sold. A wide range of factors have led to the evolution of an industry that used to require a buyer to visit a dealership, take a test drive, hammer out a deal, take delivery and drive away. At the top of […] [Read More]

Wholesale vehicle prices fell in April, and it’s a decline that’s likely not going to end any time soon. That’s according to indices released this week by Black Book and Cox Automotive, respectively, which signaled that last month’s softening may only be the beginning of a broader downslope in used-car pricing. While still significantly stronger […] [Read More]

The Federal Trade Commission (FTC) wants a larger operating budget and more personnel, and chair Lina Khan made her case last week during a hearing hosted by the Subcommittee on Financial Services and General Government that’s part of U.S. House Committee on Appropriations. Khan is looking for Congress to boost the FTC’s budget “to continue […] [Read More]

Cherokee Media Group has launched an “NAAA 75th” series of its Auto Remarketing Podcast, which commemorates the diamond anniversary of the National Auto Auction Association. Between now and the NAAA World Remarketing Convention in late September, the show will periodically feature auction owners, association executives and other wholesale industry leaders, who will discuss what the association means […] [Read More]