As experts from firms such as Edmunds have discovered, many consumers are committing to a monthly vehicle payment of $1,000 or more. Becky Chernek of Chernek Consulting made her monthly visit for the Auto Remarketing Podcast to go over the value of refinancing and other F&I strategy that can help all dealerships. To listen to the […] [Read More]

Through nine months of the year, sales of new electric vehicles are up nearly 70%, as dealers have moved an estimated 576,408 new EVs, according to Kelley Blue Book. But in the used EV market, the turning point may come in January — which is when the Inflation Reduction Act of 2022 goes into effect. […] [Read More]

It’s still early in the fourth quarter of 2022, but the pace of mergers and acquisitions happening among dealerships remains on a brisk pace with nine rooftops involved in actions announced this week. Kerrigan Advisors was involved in a pair of stores changing hands in Illinois, while Haig Partners helped to facilitate a transaction connected […] [Read More]

Darrin Aiken, a recent college graduate at the time, had been working for Kmart at local stores in his area of Illinois for about a year in the 1980s, and decided to make a go at selling cars — a potential career he had been eyeing for some time. So, like any young entrepreneurially minded […] [Read More]

The next chairman of the National Automobile Dealers Association does business only a long test drive away from the organization’s headquarters. On Tuesday, the 65-member board of directors of elected Geoffrey Pohanka as its 2023 chairman. Pohanka, who currently serves as NADA vice chairman, will succeed Mike Alford, who is dealer principal of Marine Chevrolet […] [Read More]

Nova Credit and Autonomy now are collaborating to help consumers with a ‘thin file’ or no credit history become electric vehicle subscribers. The consumer-permissioned credit bureau announced a partnership with the electric vehicle subscription company on Wednesday that will merge Autonomy’s application process with Nova Credit’s cash flow underwriting solution, Cash Atlas. The companies said […] [Read More]

Tarry Shebesta has been involved with the National Vehicle Leasing Association (NVLA) for 22 years. And during NVLA’s annual conference in Tucson, Ariz., Shebesta was presented with the 2022 Clemens-Pender Lessor of the Year Award, which is the organization’s highest honor. The Clemens-Pender Lessor of the Year was started in 1977 and is given annually […] [Read More]

The newest TransUnion study reinforced where a monthly vehicle payment lands in the family budget pecking order. Analysts explained that lower inventories, higher prices and reduced demand, among other factors, are central to some of the changing dynamics in the auto finance market, resulting in a rise in delinquency rates. TransUnion’s study titled, “A Critical […] [Read More]

The National Auto Auction Association just wrapped up its annual convention last month in Dallas, but the trade group had more event news to share on Tuesday. Along with Cox Automotive Mobility and the Burke Porter Group, NAAA said it will be hosting the inaugural ADAS Summit from 11:30 a.m. (ET) to 1 p.m. on […] [Read More]

We begin this roundup of auto executive moves on the wholesale side of the market.   Dan Heinrich is now the managing director of remarketing at Stellantis Financial Services, US, Heinrich said in a LinkedIn post Monday.   Heinrich said he will be helping to develop company’s end-of-lease and remarketing program. He spent more than […] [Read More]