CarSaver made another inroad into the credit union market this week, landing a relationship with one of the largest credit unions in the United States that has $8.8 billion in assets and more than 420,000 members. CarSaver announced the latest credit union now using its automotive e-commerce marketplace and fintech platform is Long Island-based Teachers […] [Read More]

Likely curtailed by the lack of inventory and escalating prices, Experian reported this week that leasing decreased to 19.65% of new vehicles delivered during the second quarter, down from 27.82% in Q2 of last year. Despite the overall softening, Experian’s State of the Automotive Finance Market Report: Q2 2022 still contained more intriguing data about […] [Read More]

This week, new American Recovery Association executive director Joel Kennedy shared a development meant to benefit not just organization members, but potentially any repossession agent, too. In an industry letter, Kennedy said “several” of the largest auto finance companies in the industry have agreed to allow the agents to choose what compliance training program works […] [Read More]

ADESA has named a new regional vice president and three new auction general managers. Appointed to be regional VP for the central region is Craig Estep, and the new auction GMs are Keyvan Nayeri at ADESA Houston, Mina Ibrahim at ADESA New Jersey, and Brandon Clay at ADESA Tulsa. Estep has been in the auction […] [Read More]

Capstone Technologies Group is pushing more financial resources into DrivenIQ, which previously highlighted its successes coming out of NADA Show 2022. The technology company that looks to help businesses best advertise to their ideal customers announced this week that it has raised $15 million in a Series A funding round backed by Capstone Technologies Group, […] [Read More]

For years, Ipsos pointed out that automakers have talked about electric vehicles and autonomous driving as two connected parts of the future of vehicles. But new research released by Ipsos on Thursday indicated that OEMs might be better off if they talked about these kinds of models separately. Ipsos’ latest Mobility Navigator Study showed that […] [Read More]

In pre-COVID times, a given year could yield upwards of 10 million vehicles sold at NAAA-member auto auctions. That’s also about how many questions arose when Carvana announced a deal in February to acquire KAR Global’s ADESA auction business in the U.S. (Well, at least in this reporter’s mind). More than six months have passed since […] [Read More]

The newest auto finance data from Experian reinforced the theory that consumers are taking delivery of used vehicles more often because of necessity. As the automotive market continues to face inventory shortages, analysts said consumers are shifting back to the used-vehicle market. According to Experian’s State of the Automotive Finance Market Report: Q2 2022 released […] [Read More]

TEXT2DRIVE acknowledged that a previous J.D. Power study showed that dealers capture 88% of customers’ annual service visits during the first three years of new-vehicle ownership. But TEXT2DRIVE wanted to know what keeps those service-drive customers returning after that span when the model is clearly a used vehicle, so the company conducted its own proprietary […] [Read More]

Group 1 Automotive will start the new year with a new chief executive officer. The retailer said Wednesday that president and CEO Earl Hesterberg will retire from his chief executive post and from the board of directors on Dec. 31. Stepping into the CEO role on Jan. 1 will be Daryl Kenningham. Kenningham, who is […] [Read More]