Tricolor is in the running for a pair of prestigious honors. The tech-enabled Community Development Financial Institution (CDFI) and one of the nation’s largest used-vehicle retailers that caters to Hispanic consumers announced it has been named a finalist in two categories for the annual Finovate Awards: Excellence in Financial Inclusion and Best Consumer Lending Solution. […] [Read More]

Byrider is adding a new tool for the service drive at its 148 locations. This week, Byrider selected Shopmonkey — a cloud-based auto shop management platform as its newest technology partner. According to a news release, this relationship is part of a strategic innovation initiative that Byrider kicked off in the wake of the COVID-19 […] [Read More]

While bankruptcy filings soften again in July, experts caution that the trend could change later this year. According to data provided this week by Epiq Bankruptcy, bankruptcy filings totaled … [Read More]

While TransUnion spotted noticeable rises of consumer debt levels in many credit segments, experts also are seeing normalization of delinquencies. That’s the main theme of TransUnion’s Q2 2022 Quarterly Credit Industry Insights Report (CIIR) released on Thursday. “Consumers are facing … [Read More]

AutoCanada said Tuesday it has spread to western Manitoba, purchasing Kelleher Ford in Brandon. The store, which also includes a collision center, is western Manitoba’s largest Ford dealership. Current management will remain. “This high-quality operation is our second Ford dealership and initiates our presence in western Manitoba — an attractive truck market, while providing the opportunity […] [Read More]

Auto Financial Group Canada has named a new operations manager. Promoted to the role is Rachel Fern, who has been with the company for more than four years. Fern will work with all departments in AFG’s Canada operations and Houston head office. Her duties include identifying trends and opportunities, while monitoring business activity changes. “In […] [Read More]

AutoNation is buying a captive finance company for its AutoNation USA standalone, used-car operation, said chief executive officer Michael Manley during the company’s second quarter earnings call on July 21. Once the acquisition is complete, CIG Financial of Irvine, Calif., will aid with the expansion of AutoNation USA and improve the used-car operation’s financial performance, all with modest […] [Read More]

This week’s update involving mergers and acquisitions of dealerships covers two unique parts of retailing — luxury sedans and SUVs as well as big rigs to move goods. The Presidio Group said it advised Scott Biehl on the sale of the Jaguar Land Rover Los Angeles dealership franchises to US Auto Trust. And Performance Brokerage […] [Read More]

Compared to previous years, wholesale vehicle values remained unusually high in July. But it’s what’s happening with consumer confidence — which continues at “historic lows” — and the impact to used-car demand that … [Read More]

National Auto Auction Association chief executive officer Tricia Heon, 2021 NAAA president Charles Nichols and 2022 NAAA president Garrison Hudkins join the show to talk about the upcoming National Auto Auction Week and the annual NAAA Convention. They share a sneak peek at the convention's agenda, including a look at the show's country concert and […] [Read More]