Konect Ai wants to be a leader in automotive artificial intelligence, so the company is turning its leadership over to an executive whose professional career includes stints with Cox Automotive, eCarList and Dealer.com On Friday, Konect Ai named Jerry Salerno as president as the company looks to expand further into the North American automotive industry. […] [Read More]

Cox Automotive teamed up with Penske Automotive Group to build an automated technology platform that will facilitate online used-car sales at Penske’s U.S. CarShop used-vehicle SuperCenters and franchised stores. Shortly after the platform was announced, Cox Automotive executives Kelly Mulroney and Mike Barrington joined the Auto Remarketing Podcast to share more details on how the platform […] [Read More]

It was a busy week for Sonic Automotive’s standalone used-car store program. On Thursday, the retailer announced an EchoPark Automotive retail sales center in Marietta, Ga., to serve the greater Atlanta market as well as an EchoPark delivery center in Salt Lake City. Then on Friday, Sonic added an EchoPark delivery center in Greensboro, N.C. […] [Read More]

The CarDr.com smartphone vehicle appraisal app now includes even more information. This week, the company fueling the tool that combines pricing and OEM level on-board diagnostics (OBD) by Bluetooth connection announced a real-time integration with CARFAX to incorporate a vehicle’s history. The company highlighted the integration of a vehicle’s history combined with CarDr.com’s proprietary OBD […] [Read More]

Southern Auto Finance Co. (SAFCO) now has more financial resources to operate in the subprime auto finance space. The company announced this week that it finalized new partnerships with Capital One and One William Street that are providing a new credit facility totaling $204.5 million. According to a news release, these four-year agreements with Capital […] [Read More]

The former director of the Consumer Financial Protection Bureau now has a new position in the private sector. Kathy Kraninger — who also is scheduled to appear for a fireside chat during the Non-Prime Auto Financing Conference hosted by the National Automotive Finance Association — recently became the vice president of regulatory affairs for Solidus […] [Read More]

While TrueCar analysts assessed what they believe to be the best new-vehicle leasing offers this month, Swapalease.com reported the approval rate compiled last month in connection with consumers wanting to take over a lease. Site officials reported this week that the approval rate in June of vehicle lease credit applicants using Swapalease came in at 67.6%. […] [Read More]

Drivably is launching an online community that allows consumers to instantly sell their cars to dealers, who bid on the vehicles through an online auction. While the exact format is being ironed out, that auction will have a similar feel to the online auction platforms dealers currently use, says Drivably founder and CEO Tyler Hall. Hall […] [Read More]

The blending and blurring of the wholesale and retail used-car markets continues. Drivably announced a new online community Thursday that allows consumers to instantly sell their cars to dealers, who bid on the vehicles through an online auction. Essentially, Drivably Marketplace gives dealers “exclusive access” to much-needed used vehicles and consumers a quick-and-easy way to […] [Read More]

​A day after S&P Dow Jones Indices and Experian reported that auto defaults sunk to a new all-time low in June, Kroll Bond Rating Agency (KBRA) released its latest indexes based on performance in the securitization market, illustrating how the metrics likely are on the path to notable changes during the rest of the year. [Read More]