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]

This week, Point Predictive launched the company’s first solution designed specifically for dealerships. The company that provides artificial intelligence solutions to spot fraud and other issues that might derail auto financing highlighted that BorrowerCheck can enable dealers to recognize consumers with income, employment, and identity-related risks that may result in a demand to buy back […] [Read More]

Repossessions are complicated, so MBSi Corp. and RISC are working together to help finance companies find the compliant resources they need. This week, the SaaS provider of repossession assignment software and third-party compliance management company for the auto finance industry announced the launch of VendorConnect, what they called a “revolutionary” compliance management solution that can […] [Read More]

At the beginning of August, Carvana launched the option to add a co-signer during the financing application process for potential buyers in South Carolina with the intention of rolling out the process in more locations before a full nationwide push. In the past two weeks, the online used-vehicle retailer has added more states and markets […] [Read More]

Polly, an insurance marketplace for the auto retail market, said Wednesday it has acquired Brinckerhoff & Neuville Insurance Group, a New York-based independent agency. The agency is now operating under the Polly name, and all of its employees have transitioned to the Polly team. The purchase continues Polly’s strategy of building a network of local […] [Read More]

Those of us who work in or adjacent to the used-car business have likely been asked some form of this question numerous times by our friends and family outside the industry: “When are used-car prices going to come down?” Well, finally, it seems there might be … [Read More]

ACV Auctions filed an antitrust complaint Friday in the U.S. District Court for the Western District of New York against the National Auto Auction Association, Auto Auction Services Corp., Manheim, ADESA, ServNet Auction Group and the Independent Auction Group. This news was first reported by Automotive News on Tuesday. In the filing, ACV alleges a […] [Read More]

Black Book reported that the wholesale market sales rate now is estimated to be at the lowest level since the beginning of the year. And TrueCar is expecting another slowdown of used-vehicle retail sales, too. On Tuesday, TrueCar projected that used-vehicle sales for August would be .. [Read More]