STELLA Automotive AI is seeing more demand for its high-end conversational artificial intelligence technology, so the company made corresponding personnel moves on Wednesday. STELLA announced the expansion of its operations team with the promotion of Joshua Capps as its new director and Noah Pollack as technical support manager.  The company highlighted that Capps, originally hired […] [Read More]

Sonic Automotive delivered record revenues and net income in its third quarter, but is tapping the brakes on adding stores to its EchoPark Automotive stand-alone used-car brand until mid-2023 while it realigns the brand with the changing economic environment. Sonic CEO David Smith said the company remains committed to expanding EchoPark’s reach to within 90% […] [Read More]

An analyst during the Q&A portion of AutoNation’s third-quarter earnings call on Thursday asked whether the retailer was comfortable with the current inventory levels for used vehicles. The company’s president and CEO Mike Manley answered yes. “But as we all know in our business, your used inventory can be one of your biggest assets,” Manley […] [Read More]

Upstart, a leading artificial intelligence lending marketplace, recently announced that Upstart Auto Retail is now certified as a Honda Digital Solutions (HDS) partner. As an HDS Digital Retailing solution, Upstart Auto Retail’s modern vehicle buying software is now available to Honda dealers and customers nationwide. Scott Thomas is general manager of Buckeye Honda in Lancaster, […] [Read More]

Origence and credit unions are on quite a roll with auto financing. For the third consecutive quarter in 2022 and for the fourth straight quarter overall, Origence said it has delivered a record amount in credit union auto finance contracts through its platforms. According to a news release, credit unions funded 2 million contracts through […] [Read More]

Auto Financial Group (AFG), announced on Tuesday that it has signed an integration agreement with MeridianLink, which provides software platforms for financial institutions and consumer reporting agencies. AFG said this partnership further reinforces its mission to pursue innovative solutions that help clients streamline their workflows. With this integration, AFG said its Balloon Lending Program will […] [Read More]

Lendbuzz began November by announcing that it closed a $150 million credit facility with J.P. Morgan. The growing fintech company making headway in the auto financing market using artificial intelligence and machine learning algorithms said this is the second credit facility with the investment bank. In January, J.P. Morgan extended a line of credit to […] [Read More]

LendingTree recently reported that millennials owe a median of $15,281 in auto debt across the 100 largest metros in the U.S. Researchers used an anonymized sample of credit reports from the first and second quarters of this from more than 200,000 millennial LendingTree users to calculate their total auto debt obligations. LendingTree auto finance expert […] [Read More]

A “turning point.” That’s how AutoIMS described the third quarter for the wholesale auto industry, which hit a few “firsts” in certain consignment metrics included in the company’s Industry View report. The report, released quarterly, is a “compendium of metrics featured in the AutoIMS Sales Scorecard that reflects the AutoIMS database (with a few needed […] [Read More]

Two of the latest moves by TrueCar have dealers at the focal point. Along with piloting a new online credit application feature, TrueCar announced the election of a new member to board of directors who happens to be the general manager of a franchised dealership. In board changes effective on Oct. 27, TrueCar welcomed Capistrano […] [Read More]