Recent analysis from Comerica Bank and Salary Finance point to a similar assertion. There’s a reasonable chance many of the contract holders currently in your auto finance portfolio are having their monthly budget squeezed by several factors. With Comerica Bank chief economist Bill Adams saying that high inflation sunk the personal saving rate to its […] [Read More]

Group 1 Automotive said Monday it has acquired Larry H. Miller Toyota in Albuquerque, N.M., adding to the retailer’s presence in the Land of Enchantment. The store will be renamed Sandia Toyota and is expected to pull in annual revenues of $115 million. So far this year, Group 1 has acquired revenues of $550 million. […] [Read More]

Executives with DrivenIQ, which specializes in data and data technologies that help businesses target their advertising to the most ideal audience, joined the Auto Remarketing Podcast recently to talk about the company's busy March and much more. DrivenIQ announced last month that it has acquired Visitor Data Inc. The company also announced that it will be […] [Read More]

The exhibit booths of Inovatec Systems and Point Predictive were nearly adjacent during the Vehicle Finance Conference hosted by the American Financial Services Association last month. Now the tech firms now officially are joining forces. Last week, Inovatec Systems and Point Predictive said they have forged a strategic partnership, leveraging Point Predictive’s comprehensive, consortium-based credit data […] [Read More]

Sollensys Corp., a cyber security company specializing in ransomware recovery built on blockchain technology, and Constant, a provider of digitized, self-service technologies for banks and credit unions, now are working together. The companies announced last week that Constant will be integrating Sollensys’ blockchain data archiving solution into its financial services platform. According to a news […] [Read More]

Hudson Cook partners Patty Covington and Eric Johnson are among the keynote speakers on the docket for a two-day online series hosted by Chernek Consulting titled, “F&I Master Series Online Forum — The Digital Age.” Beginning on Wednesday, Covington, Johnson and more than two dozen other experts will be discussing trends and sharing best practices […] [Read More]

In what officials called a record-setting settlement, the Federal Trade Commission and the State of Illinois said on Friday that they are taking action against Napleton, a large, multistate auto dealer group based in Illinois. Officials said they’re making this move because Napleton was “sneaking illegal junk fees for unwanted ‘add-ons’ onto customers’ bills and for […] [Read More]

TrueCar’s used-vehicle sales forecast for March called for a double-digit rise on a sequential basis, but a double-digit drop on an annual comparison. An anecdote from Brian Finkelmeyer, who actually is the senior director of new-vehicle sales strategies at Cox Automotive, might provide a vivid image of how used-vehicle sales unfolded to close the first quarter. [Read More]

Another busy week of activities among dealer groups unfolded with more acquisitions, store openings and executives in leadership positions. While Penske Automotive Group made a move overseas, let’s begin this dealer roundup with Foundation Automotive Corp. adding the 30th dealership to its portfolio. On Thursday, Foundation announced its second acquisition so far this year in […] [Read More]

The top executive leadership changes at CarLotz continued on Thursday. Along with announcing that chief operating officer John Foley and chief technology officer Dan Valerian will be departing in April, CarLotz appointed a new president as well as a new CTO. Taking on the role of president of consignment-to-retail used vehicle marketplace is Ozan Kaya, […] [Read More]