The auto dealer buy-sell space continues to flourish, but in recent months, it has been the private dealer groups doing the buying, as activity among the publics has slowed. Overall, according to the Q2 2022 Haig Report from Haig Partners LLC, there was a 3% year-over-year spike in … [Read More]

With another month closing on Wednesday, Ignite Consulting Partners mentioned firm compliance experts often are peppered with questions at this junction on the calendar about independent dealers creating their own retail installment sales contracts rather than relying on the documents within their dealer management system (DMS). Through its Tip of the Week, Ignite emphatically replied […] [Read More]

Tricolor has invested heavily in artificial intelligence and other technology resources to boost its underwriting. On Thursday, tech-enabled Community Development Financial Institution (CDFI) and one of the nation’s largest used-vehicle retailers that caters to Hispanic consumers, also enhanced its resources connected to the vehicles themselves. Tricolor announced the opening of its new state-of-the-art reconditioning center […] [Read More]

Experian senior director of automotive financial solutions Melinda Zabritski shared more time for the Auto Remarketing Podcast to discuss which auto finance metrics landed within expectations for the second quarter and which ones did not. Zabritski also touched on how finance companies are keeping risk under control amid high vehicle prices. To listen to the […] [Read More]

Foundation Automotive Corp., which has stores in both the U.S. and Canada, said Tuesday it has purchased its first Mercedes-Benz dealership, acquiring Mercedes-Benz of Wichita Falls in Texas. This is the group’s ninth store in Wichita Falls, Texas, and 36th overall. Kendrick Jones will be the dealership’s general manager. “Mercedes-Benz is synonymous with excellence and […] [Read More]

Experts likely are just beginning to tally up how many used vehicles dealerships retailed in August. But ADESA chief economist Tom Kontos highlighted how many used vehicles were retailed through July as a part of his latest Kontos Kommentary. Kontos reported that franchised and independent stores combined to retail … [Read More]

In two new commercials that are part of its "We Drive It Like It Is" campaign, Edmunds spoofs some of the "tropes" you might find in a car commercial (i.e. rugged dude hauling lumber in a pickup, couple off-roading in an SUV to a campsite) as a means to underscore some of the services it offers. […] [Read More]

Sonic Automotive continued expansion of the EchoPark Automotive brand on Wednesday on its drive toward a nationwide distribution network that is expected to reach 90 percent of the U.S. population by 2025. The newest delivery center is in Tulsa, the second largest city in Oklahoma. According to a news release, the Tulsa delivery center is […] [Read More]

Though digital technology puts buying and selling of vehicles at dealers fingertips virtually anytime and anywhere, the demise of physical auctions and its hands-on approach is greatly exaggerated. That’s according to Jason McClenahan, a trained auctioneer and chief executive officer of E Inc., the Canadian retail tech firm that operates the EBlock digital wholesale marketplace. […] [Read More]

Bank Director’s 2022 Technology Survey, sponsored by CDW, delved into the technology concerns and challenges bank senior executives and board members face, and where they’ve been investing their resources. And survey results showed that competitive pressures continue to alter the landscape for financial institutions. Bank Director reported 81% of survey respondents say their bank increased […] [Read More]