Amazing what federal income tax refunds can do for the health of your portfolio, huh? Kroll Bond Rating Agency (KBRA) said April remittance reports showed auto finance credit performance improved for the second consecutive month across both prime and non-prime securitized pools. According to the firm’s report, annualized net losses in … [Read More]

The average age of vehicles on U.S. roads has never been this high. According to a report from S&P Global Mobility (previously the auto team at IHS Markit), the average age of light vehicles in operation has climbed for five consecutive years, reaching a record age of 12.2 years as of Jan. 1, 2022. That is […] [Read More]

AutoNation, TrueCar and wear blue: run to remember all collaborated to give a vehicle to a Gold Star Family member through the DrivenToDrive initiative. TrueCar’s DrivenToDrive initiative was started in 2016, inspired by Army Ranger and DrivenToDrive ambassador, Cory Remsburg, who was severely injured while serving in Afghanistan. According to a news release, the program […] [Read More]

In addition to a new partnership lined up in the vehicle transportation space, CarNow, which provides digital retail solutions to the auto industry, has named a new senior vice president of OEM relations and national accounts. Hired for the role is Michael Seeman, who was previously vice president and general manager of the enterprise divisions […] [Read More]

Perhaps what’s now available at Advance Auto Parts will help calm any apprehension about battery status of used hybrid and electric vehicles your dealership's potential buyers might have. On Monday, the automotive aftermarket parts retailer announced the introduction of DieHard EV with xEV by Clarios, becoming what the company said is the first auto parts […] [Read More]

In this particular case, Caribou is a unicorn. One of the 2020 Emerging 8 honorees that’s involved in auto refinancing and more announced on Friday that it has closed $115 million in an oversubscribed Series C funding round, which brings the company’s valuation to $1.1 billion, triggering the well-known startup growth moniker. Caribou, which rebranded […] [Read More]

Allied Solutions is making its solutions stronger, especially for credit unions. Last week, one of the largest providers of insurance, lending, risk management, and data driven solutions to financial institutions announced the acquisition of CU Direct’s Lending Insights platform. The company explained this strategic move will strengthen Allied’s vision to harness the power of collaborative […] [Read More]

In this episode of the Auto Remarketing Podcast, ACERTUS chief executive officer Trent Broberg joins the show. Broberg talks with senior editor Joe Overby about the current auto transport and logistics landscape, including a look at adapting to smaller carrier loads, the impact of digital buying and selling, plus much more. To listen to the conversation, click […] [Read More]

Cars.com found a way to get 99% of dealers to agree on something. And if you’re a used-car manager, you might need only one guess to pinpoint what it is. Cars.com said an overwhelming 99% of surveyed dealers said they are paying more for trade-ins now than two years ago. According to a news release, […] [Read More]

In February, F&I Sentinel announced its founders partnered with Calera Capital, a leading middle-market private equity firm. On Thursday, the compliance solutions provider with respect to the financing of F&I products reinforced its executive team with two former team members at F&I Express. Joining the company in key leadership roles are John Elias and David […] [Read More]