The customers in your auto finance company portfolio or arriving at your dealership might not be feeling so great about their current family budget situation based on the latest research recently shared by LendingClub Corp. and the BMO Real Financial Progress Index. Findings from the 14th edition of LendingClub’s Reality Check: Paycheck-To-Paycheck research series, conducted […] [Read More]

It was another week of price slowdowns in the Canadian wholesale market, with overall values dropping 0.27% for the week ending Friday, according to the latest Market Insights report from Canadian Black Book. That compares to a 0.30% decline the prior week. During the 2017 to 2019 timeframe for the same week, the average movement […] [Read More]

Automotive dealers have pivoted in the wake of inventory shortages due to pent-up demand, chip shortages and other manufacturer shortages. This has skyrocketed the interest for pre-owned vehicles  —giving automotive dealers high incentives to find trade-ins or buy used vehicles at auction to stock their lots for the incoming buyers. It isn’t as simple as […] [Read More]

CarNow has named a senior vice president of engineering, who will head up software development and operations. Hired for the role is Dan Jemiolo, who was vice president of engineering for the user interface platform at Salesforce. Jemiolo was also the founder and site executive of the company’s research and development office in Raleigh, N.C. […] [Read More]

Mercedes-Benz USA said it has an annual demand for 1,400 technicians, with 50% of its franchised dealerships reporting an urgent or extremely urgent need for technicians. To make sure franchised dealerships have the technicians they need to maintain a successful service the automaker has launched multifaceted training programs that aim to benefit the automotive industry […] [Read More]

Castle Automotive Group announced the completion of two acquisitions: Naperville Chrysler Dodge Jeep Ram and Gary Lang Auto Group. With these purchases, Castle now has 14 locations and 26 new-car franchises throughout Illinois and Northwest Indiana. Castle is headquartered in Oakbrook Terrace, Ill. “First of all, I would like to say thank you and congratulations […] [Read More]

Toyota established Toyota Motor Credit Corp. (TMCC) in 1982, a time of bright neon clothes, video arcades, early personal computers, VCRs and lively pop music. A few months later, the first vehicle financed by the new captive actually was a used car when Burt Toyota in Denver delivered a Toyota Corolla. Now with four decades […] [Read More]

Edmunds said its analysts have adjusted their auto finance data cleaning process to include new and used monthly payments up to $2,000 to account for changes to the market, as previously the limit was up to $1,500. Based on the third quarter data Edmunds shared on Monday, you can understand why. Edmunds reported 14.3% of […] [Read More]

CDK Global wants dealers to oversee what the company believes is one of their most important parts of their businesses. This week, the automotive retail software provider unveiled what it dubbed, “Data – Your Way.” The announcement came at its second annual CDK CONNECT, an event that brings the industry together and showcases how CDK […] [Read More]

Coinciding with the close of the third quarter, PureCars rolled out its latest whitepaper to help dealerships sharpen their advertising strategies. The provider of digital marketing technology and services for automotive dealers called its new whitepaper: “5 Key Takeaways from the 2022 PureCars Digital Advertising Survey.” The paper looks at specific digital advertising trends facing […] [Read More]