In celebration of Hispanic Heritage Month, the 2022 Hispanic Market Report generated by Claritas, a data-driven marketing company, showed the U.S. Hispanic population is exploding, with 89% growth since 2000. According to the report, around 66.5 million Hispanic consumers live in the United States, representing more than $1.7 trillion in annual buying power. Perhaps those […] [Read More]

It was another week of falling prices in the Canadian wholesale vehicle market. The overall market was down 0.30% for the week ending Sept. 23, steady with … [Read More]

Dealer compliance expert Randy Henrick acknowledged moderate surprise that the Federal Trade Commission didn’t delay December implementation of the revamped Safeguards Rule even as industry associations and a fellow government agency recommended it. In this episode of the Auto Remarketing Podcast, Henrick reiterated what dealers, finance companies and other service providers need to do as […] [Read More]

A longtime executive on the remarketing side of the car business is now with PAVE, which provides a photo-based automated vehicle inspection platform. Mike Francis, whose background includes time with Alliance Inspection Management, SmartAuction and VW Credit, is now the vice president of sales with PAVE. Francis’ most recent role prior to PAVE was as […] [Read More]

Nearly 62% of the used electric vehicles available on the retail market are Teslas, with the next-closest competitor (Nissan) having a 6.6% share, according to Autonomy’s debut EV Market Report released earlier this month. That’s part of why the number of EVs flowing into wholesale auctions has remained small, as Tesla’s used vehicle tend to […] [Read More]

One consequence of rising used-car prices that might fly under the radar: increases in auto theft. Amid price conditions that make this activity more lucrative, vehicle and catalytic converter thefts and carjackings have impacted many U.S. cities with nationwide figures approaching levels not seen in 14 years. New analysis from the National Insurance Crime Bureau (NICB) […] [Read More]

Through a recent installment of its tip of the week, Ignite Consulting Partners tackled a strategy that some collections departments might use to kickstart stalled efforts to find and reach their delinquent account holders. Perhaps the opposite of text messaging, Ignite acknowledging that some collections departments use door knocking to try to physically find the […] [Read More]

Perhaps as frustrating to auto finance companies as fraud infiltrating its portfolio is an applicant that might be OK, but somehow tripped a trigger inadvertently, and the potential paper went into the electronic trash. To help limit the more than $100 billion of global sales revenue lost to false positives during the fraud detection process, […] [Read More]

More shops are collaborating to boost financing and ancillary products tailored specifically for electric vehicles. Tenet, a leading EV financing platform, announced a partnership this week with Xcelerate Auto, a financial technology company with an emphasis on electric vehicles, to couple its EV extended warranty into Tenet’s financing options. Xcelerate Auto said it designed the […] [Read More]

Developments within financial technology nowadays aren’t just driven for consumers’ benefits. This week, Solifi announced the release of its latest version of Solifi Wholesale Finance SaaS solution, which includes several new automated features to better manage inventory audits, provide real-time reconfirmation of order commitments and further streamline transactions. As more dealers and wholesale finance companies […] [Read More]