Here’s another piece of auto finance industry data to consider as you close the books on another month and quarter. While perhaps still relatively modest, auto defaults made their largest month-over-month rise so far this year. According to data from S&P Dow Jones Indices and Experian, the August auto default rate came in at … [Read More]

For the second time in September, Launcher enhanced its technology geared to streamline originations via collaboration with an industry partner. After earlier boosting integrated access to CARFAX Vehicle History Reports, this week the company announced an expanded integration of Launcher’s appTRAKER Loan Origination System (LOS) with The Work Number from Equifax, the credit bureau’s centralized […] [Read More]

Chevrolet showed up in the heart of electric vehicle country one Friday in September to show off its Bolt EV and Bolt EUV (electric utility vehicle). The automaker aims to overcome a setback with its entry-level electric vehicle after it had to recall more than 140,000 because of a battery defect. Despite that glitch, General Motors […] [Read More]

Used-car sales are down, prices are up and pre-owned retail inventory continues to expand — slowly but surely. Cox Automotive chief economist Jonathan Smoke, senior economist Charlie Chesbrough and the Industry Insights team drilled down into these trends on the company's Q3 Industry Insights and Forecast Call on Wednesday. The team found that … [Read More]

With the industry surveying damage in Florida as businesses in Georgia and the Carolinas brace to be in the storm’s path, the National Auto Auction Association (NAAA) made a call to help places impacted by Hurricane Ian. NAAA said in an industry message sent on Friday morning that association leadership had been in contact with […] [Read More]

Hurricane Ian made landfall on Wednesday near Cayo Costa, Fla., which is just south of RISC’s corporate headquarters in the Sunshine State. In response to the impact caused by the destructive storm, RISC said on Thursday that the company is waiving all RISC Pro fees for any repo agency located in Florida. RISC said this […] [Read More]

Tough sledding continues in the used-car retail market. TrueCar is forecasting an 11% year-over-year decline in pre-owned car sales, with 3 million used cars sold. That’s off 4% from August. Granted, the year-over-year drop is … [Read More]

The banking industry basically told the Consumer Financial Protection Bureau: “We’ll see you in court.” Four banking associations, plus the U.S. Chamber of Commerce and two other business-driven organizations in the Lone Star State, filed a lawsuit in the Eastern District of Texas on Wednesday against the CFPB for exceeding its statutory authority when amending […] [Read More]

This week, the National Independent Automobile Dealers Association selected Glo3D.com, an automotive media software company, as a National Corporate Partner. As part of this partnership, NIADA said Glo3D.com will help more than 15,000 NIADA members revolutionize their online presence in the digital retail space. “We are excited to partner with NIADA and look forward to […] [Read More]

In celebration of Hispanic Heritage Month, the 2022 Hispanic Market Report generated by Claritas, a data-driven marketing company, showed the U.S. Hispanic population is exploding, with 89% growth since 2000. According to the report, around 66.5 million Hispanic consumers live in the United States, representing more than $1.7 trillion in annual buying power. Perhaps those […] [Read More]