ADESA last week launched ADESA Timed, the latest enhancement to ADESA’s growing digital wholesale platform. The Carvana subsidiary highlighted ADESA Timed builds on the success of ADESA Clear, extending ADESA’s timed digital auction offering to wholesale sellers. ADESA Timed can enable consignors, including financial institutions, fleets, rental companies, and dealer groups, to use ADESA’s timed […] [Read More]

UCDA is now the United Car Dealers Association. UCDA, known for more than four decades as the Used Car Dealers Association of Ontario, officially confirmed its name change on Monday, just before the opening of Canada’s Used Car Week in Toronto. For the organization founded in 1984 by seven dealers as a not-for-profit association, one […] [Read More]

DROS.ai said it understands that the debt collection industry is grappling with compliance challenges arising from the use of artificial intelligence voice agents. The company also acknowledged that organizations face significant risks of violating requirements under the Fair Debt Collection Practices Act (FDCPA) and similar regulations when AI systems operate without adequate customer context and […] [Read More]

Bank of America recently rolled out three new tools designed to simplify access to credit monitoring, provide greater flexibility for managing large purchases and reward loyalty. When describing Refer-a-Friend, Custom Pay Plan and My Credit, Holly O’Neill, president of consumer, retail and preferred at Bank of America said, “With these tools, we’re rewarding our clients […] [Read More]

Just like how extensions are growing for consumers to make their monthly car payments, America’s Car-Mart also gained an extension to get its finances in order. The buy-here, pay-here dealership chain previously had until Friday to secure new credit. Late that day, the company said through a filing with the Securities and Exchange Commission that […] [Read More]

From No. 482 to No. 123. Lithia & Driveway is moving up on the Fortune 500, announcing Tuesday that it is now ranked 123rd on the 2026 edition of the list, up nearly 350 spots since its debut on the list in 2015. “As we continue to strengthen our position among the nation’s largest companies, […] [Read More]

The leader of Group 1 Automotive’s used-car operations now has an expanded role. The retailer said Thursday that Bob Andersen has been promoted to vice president of corporate development and pre-owned operations. Andersen’s most recent post was as Group 1’s national director of pre-owned operations. With the expanded role, he will now also head up […] [Read More]

Strengthening, but not quite to the same level as the overall industry. That’s the story around wholesale prices and retention for electric vehicles this spring, according to the latest AuctionNet data from the National Auto Auction Association. Overall wholesale auction prices came in at $20,200 in May, NAAA said, which was down 2.1% from April. […] [Read More]

The Dealertrack Credit Availability Index for May rose sequentially for the second month in a row to land at its highest level since April 2022. But the share of contracts to subprime consumers declined for the second consecutive month. Cox Automotive data released this week showed the subprime share in May slid 70 basis points […] [Read More]

Edge Focus made its way into auto finance this week. The technology-enabled private credit firm focused on consumer assets announced a loan partnership with what it called “a large private credit manager” to expand its auto program through the purchase of consumer auto receivables. Management said the partnership marks a major milestone for Edge Focus, […] [Read More]