Ally Financial topped the ranking among subprime auto finance companies for the second consecutive year, according to the J.D. Power 2022 U.S. Dealer Financing Satisfaction Study, which was released on Thursday. Ally Financial ranked highest in overall dealer satisfaction among finance companies that participate in the subprime market with a score of 945 on a […] [Read More]

The decision and plan for Shift and CarLotz to merge came together rather quickly — it was only about four weeks ago that CarLotz chief executive Lev Peker said he got a call from Shift CEO George Arison floating a potential combination. Determining what that combined company will ultimately look like, however, will take some […] [Read More]

In June, STELLA Automotive AI, which provides conversational artificial intelligence technology, welcomed Sherri Eidenberg as its vice president of U.S. dealer sales. This week, Eidenberg reinforced her team with 10 additional automotive technology experts to help STELLA Automotive meet market demand, which has been strong and growing since the market launch in March.  Forming the […] [Read More]

Holman likes Orbee as one of its solution providers so much that the global automotive services organization decided to make an investment from its venture capital division in the company, which provides the auto industry with data management, marketing analytics and automation solutions.  Holman highlighted in a news release that Orbee’s innovative digital marketing platform […] [Read More]

Two alleged arson incidents in a three-month span in the storage lots at repossession agents in Arizona and Illinois has the American Recovery Association quite concerned for a myriad of reasons. ARA recapped in a news release that 18 vehicles were destroyed by an alleged firebomb attack in July while they were being stored at […] [Read More]

Continuing the Cherokee Media Group series of award programs that honor the most dedicated and talented professionals from throughout the used-car industry, we proudly showcase this year’s Women in Auto Finance, presented by DRN | MVTRAC. The 12 honorees specialize in crucial skills such as accounting, computer science and law. They hold some of the […] [Read More]

U.S. Bank announced this week that it now can provide funds to auto dealers instantly after the contract is finalized by the bank. Following a successful pilot completed in June, U.S. Bank said it already has enabled more than 800 dealers to receive funds from auto financing via a real-time payment. The bank expects to […] [Read More]

AUL Corp. senior vice president of sales and marketing Paul McCarthy identified nine F&I tips and trends he sees being in play for dealerships for remainder of the year. McCarthy touched on topics such as what’s on the dealership website to how much profit stores can expect to generate each time a vehicle is delivered. […] [Read More]

Shift and CarLotz have agreed to merge. The companies said in a release late Tuesday afternoon they have entered a definitive agreement to combine in a stock-for-stock merger, with the combined company set to trade under the SFT ticker on Nasdaq. Shift is an end-to-end used-car ecommerce platform, and CarLotz is a consignment-to-retail used-car marketplace […] [Read More]

Electric vehicle subscription company Autonomy has placed a $1.2 billion fleet order for 23,000 EVs from 17 automakers across the world to broaden its subscription fleet. When Autonomy launched its EV subscription platform less than a year ago, it began by offering the Tesla Model 3, later adding the Model Y, with additional models from the […] [Read More]