With the opening of Genesis of Lafayette in Louisiana, the Genesis brand now has its first standalone dealership in the U.S. The store, owned and operated by Arthur LeBlanc Jr. and Sterling Automotive Group, is the first of several dealerships Genesis has planned for the U.S., with six additional locations under construction and 20 more […] [Read More]

About a month before NADA Show 2022, Seventh Knight became a part of the NADA Affinity Provider Program. And the provider of unique ransomware protection solutions appeared on this episode of the Auto Remarketing Podcast recorded in Las Vegas, as vice president of business development Travis Odom described how vulnerable to ransomware attacks dealerships are […] [Read More]

The American Recovery Association (ARA) gained more traction on the compliance front this week. ARA announced through a news release that Flying A Information Resources has chosen the association’s compliance monitoring system to assist the firm in vetting and monitoring the compliance of its professional recovery agent network, including ARA’s site inspection program. ARA reiterated […] [Read More]

The Consumer Financial Protection Bureau database indicated that the agency received 527,243 consumer complaints during the 12-month span that closed on Feb. 28. Of that amount, only 8,042 complaints — or 1.5% — fell into the categories that the CFPB classified as “vehicle loan or lease.” The majority of the consumer complaints (335,161) during those […] [Read More]

Another episode of the Auto Remarketing Podcast from NADA Show 2022 is focused on the credit union market, featuring a conversation with CUDL chief revenue officer Phil DuPree. A former dealer, DuPree shared the most common questions he’s receiving from credit unions and how CUDL has responded. To listen to this conversation, click on the link […] [Read More]

Our installments of the Auto Remarketing Podcast from NADA Show 2022 in Las Vegas continue with a visit with Credit Union Leasing of America (CULA), which enjoyed a record-setting year in 2021. CULA president Ken Sopp and vice president of business development Mark Chandler recapped the path to $2 billion in lease originations last year […] [Read More]

Exeter Finance announced its 2021 Exeter auction eXcellence and EMI awards at the recent CAR Conference in Las Vegas, recognizing auctions in divisions based on size and units sold. Taking home the honors were: Division III: DAA Seattle Division II: Metro Phoenix Division I: Bel Air Auto Auction The EMI winner was Indiana Auto Auction. […] [Read More]

While maintaining its forecast for overall used-car sales, Cox Automotive has trimmed its projections for certified pre-owned vehicle sales, as competition for acquiring CPO-worthy inventory intensifies. Analysts with the company said in a presentation this week that they are now projecting 2.8 million CPO sales for 2022, down from the 3.0 million unit forecast they […] [Read More]

Black Book said the estimated average weekly sales rate continued to climb, as during the timeframe that concluded on Saturday, it stood at 67%, marking a similar rise they saw last week and “another positive indicator for a spring market.” Analysts rattled off several more reasons why spring might be germinating in the wholesale market […] [Read More]

Automotive Ventures founder and chief executive officer Steve Greenfield is back on the show to share more details about the new Automotive Ventures DealerFund the company launched earlier this month. Greenfield explains the "aha moment" that prompted Automotive Ventures to start this fund, how the capital would be used, how dealers are building technologies, the […] [Read More]