Daniel Parry did not seek to have an economic or political argument about whether the U.S. is officially in a recession. Rather, the co-founder and chief executive officer of TruDecision maintained that risk is in play no matter how well the economy may or may not be doing. Parry pointed out more than a half […] [Read More]

In this edition of Auciton News Roundup, we spotlight three particular charitable endeavors among auto auctions.  And we begin in the Lone Star State. Alliance Auto Auction, a Texas-based group of five physical auto auctions and two digital platforms, said it has raised more than $50,000 this year for CitySquare Abilene Project and Simply Sparrow […] [Read More]

Within Sonic Automotive’s EchoPark used-car store program, second-quarter revenues hit $665.6 million, an all-time high and a 12% year-over-year increase. On the other hand, EchoPark retail used-vehicle unit sales volume of 16,608 was down 22% year-over-year. During the Q&A portion of the retailer’s earnings call, participants asked … [Read More]

The end of Lithia & Driveway’s second quarter came with good news for the publicly traded company. The retailer reported the highest Q2 revenue and earnings per share in company history ($0.42 per share for the second quarter). Lithia’s Q2 revenue was … [Read More]

Autonomy continues to expand its electric vehicle subscription operation, as last week the company enhanced its EV lineup to include the Tesla Model Y Long Range. After forging a relationship with AutoNation, Autonomy now offers the Tesla Model 3 Standard and Long Range, as well as the Model Y Long Range, which has monthly payment […] [Read More]

Refinancing firm iLending recently announced that Jason Oswald has been named director of sales at the company’s office in Columbia, S.C. In this role, Oswald will be responsible for all sales functions for the company’s growing office in South Carolina’s state capital. According to a news release, the facility began operations last September and currently […] [Read More]

Origence is amid a string of records associated with auto financing and credit unions, and it appears the company wants to remain on that path through leveraging a partnership with Informed.IQ, a provider of artificial intelligence-based software to financial institutions According to an announcement made last week, Informed.IQ will power Origence’s document process automation functionality […] [Read More]

Arriving soon after the second quarter reading of its Auto Finance Digital Transformation Index, Wolters Kluwer announced results from an industry survey it commissioned to better understand how many automotive professionals are leveraging digital back-office resources and processes. Wolters Kluwer also sought to learn how those resources —or lack thereof — are impacting their business […] [Read More]

CreditMiner and TransUnion now are working together to stop auto finance fraud from happening, beginning with what can happen at dealerships. Last week, the firms announced a new partnership to protect the automotive industry from high dollar losses from synthetic fraud via an application programming interface (API). CreditMiner and TransUnion said through a news release that […] [Read More]

If your dealership or finance company improved in the used-vehicle department in July compared to the previous month, you were part of the sequential improvement TrueCar predicted. Just before the weekend and close of the month, TrueCar projected that July used-vehicle sales would reach … [Read More]