Kroll Bond Rating Agency (KBRA) released research on Monday assessing changes in the auto loan asset-backed security (ABS) sector, prompting experts to say the segment has demonstrated “both stability and volatility over the past decade.” The firm’s resulting report evaluated how auto ABS attributes such as loan-to-value (LTV) ratios, initial balances, terms, annual percentage rates […] [Read More]

After acquiring the assets from two different independent operators last year, America’s Car-Mart finalized a similar move this week, announcing that the chain of buy-here, pay-here dealerships entered into a definitive agreement to purchase the ongoing dealership assets of Credit-Line, Inc., and Loanco, Inc., both Texas corporations doing business as Taylor Auto Credit. As a […] [Read More]

Cox Automotive is shifting one of its auction general managers into an executive role with its floorplan provider. On Tuesday, NextGear Capital appointed former Manheim general manager Nicole Graham-Ponce as vice president of portfolio management, following the recent appointment of former Manheim regional sales manager Kyle Ballinger as associate vice president of NextGear Capital sales. In […] [Read More]

Tricolor Holdings added another award to its mantle. The used-vehicle retailer that focuses on the Hispanic market announced that it has been named to the Inc. 2022 Best in Business list, which honors companies that have made an “extraordinary” impact in their fields and on society. Tricolor Holdings said it was recognized for its groundbreaking […] [Read More]

AutoCanada continued its growth last week with the acquisition of Sterling Honda in Hamilton, Ontario. The retailer said the purchase will bring in annual revenues of more than $65 million. AutoCanada will fund the transaction from a drawdown of its credit facility. “We’re excited about the addition of this high-quality dealership, expanding AutoCanada’s footprint in the […] [Read More]

The holiday spirit continues at dealership groups across the country. On Friday, the Jim Ellis Automotive Group announced the kickoff of its annual holiday giving campaign to support Children’s Healthcare of Atlanta. During December, each of the retailer’s 20 locations will donate a portion of all vehicle sales to The Aflac Cancer and Blood Disorders […] [Read More]

Perhaps some upbeat news about what could be classified as the used-car manufacturing front. Cox Automotive chief economist Jonathan Smoke reported on Monday that combined new-model sales into large rental, commercial and government fleets rose 55% in November compared to a year ago. In what might be good for used-vehicle inventory availability down the road, […] [Read More]

Copart has named a new chief financial officer and chief legal officer, the company said in a news release Saturday. Hired for the CFO role is Leah Stearns, who most recently held that same position at CBRE, which is in the commercial real estate services and investments space. Named chief legal officer and corporate secretary […] [Read More]

Pohanka Automotive Group recently invested in Orbee, a leading provider of marketing technologies. According to a news release, Pohanka’s investment into Orbee revolves around the common goal of driving innovation across the automotive software ecosystem. The dealer group’s strategy of connecting legacy systems with new capabilities such as Orbee’s Customer Data Platform (CDP) and Marketing […] [Read More]

LoanPro, a modern servicing core platform, recently announced a partnership with MX, an open finance leader, to deliver enriched financial data using MX’s Data Engine into LoanPro’s management platform. By leveraging MX to cleanse, categorize and classify financial data, LoanPro said it can enable financial institutions, fintechs and B2B/B2C lenders to unlock new data-driven insights. […] [Read More]