It’s been a busy month for the team at Performance Brokerage Services, as the automotive dealership brokerage firm announced its involvement in two more closings this week. After being involved in the transaction of a Toyota store in Washington, the firm also helped to facilitate the moves involving a Minnesota Subaru rooftop and a Chrysler […] [Read More]

Originations aren’t the only part of auto financing accelerating nowadays. Stephen Bisbee, founder of eOriginal, which is now part of Wolters Kluwer, appeared on the Auto Remarketing Podcast to explain why securitizations are accelerating again as an attractive option for the investment world. To hear the conversation, click on the link available below, or visit the Auto […] [Read More]

Vroom has launched a “Last Mile” hub in the Dallas area that gives customers in a 70-mile radius “a more customized driveway experience.” The online retailer has offered vehicle delivery in the Dallas market since 2012, but is now offering more of a concierge-style service there through the hub, which is located in Euless, Texas. […] [Read More]

The used-car market is usually a steady one, which makes this year’s price surge all the more “unparalleled,” as iSeeCars.com details in an analysis released this week. For instance, used-vehicle prices climbed just 0.1% year-over-year in April 2020, according to iSeeCars. In April 2019, they dipped just 0.2%. However, in April of this year, there […] [Read More]

AAA Travel expects a significant rebound in the number of Americans planning to travel this Memorial Day holiday weekend. And if they haven’t already visited your service drive for maintenance, customers might be coming soon since AAA said more than 37 million people are expected to travel 50 miles or more from home, an increase […] [Read More]

Canada Drives announced Thursday it has expanded its online vehicle-shopping and “to-your-door” delivery platform into Ontario. It debuted the platform in British Columbia last fall, a spokesperson confirmed, and plans to continue to expand throughout the country, with its sight set on being able to serve 80% of Canadians by the end of 2022. Car […] [Read More]

Two months after ACERTUS named a new chief executive officer, the tech-driven automotive logistics and services company this week announced the professional who now will be serving in the newly created position of chief revenue officer. Tasked with leading global sales operations, driving revenue growth and supporting ACERTUS’ ongoing mission to be a leader in […] [Read More]

With America’s Car-Mart locations turning vehicles on a monthly pace at a record level, the buy-here, pay-here dealership network closed its 2021 fiscal year with the highest amount of quarterly revenue in company history. The successes prompted Car-Mart president and chief executive officer Jeff Williams to say, “We are transitioning from a collections company to […] [Read More]

Escalating vehicle prices are impacting auto-finance data, too, as Experian’s Q1 2021 State of the Automotive Finance Market report showed outstanding balances jumped 10.3% year-over-year from $1.168 trillion to $1.288 trillion. So, SubPrime Auto Finance News posed this one to Experian: In light of rising prices for both new and used vehicles, how close is […] [Read More]

CarLotz filed a Form 8-K with the Securities and Exchange Commission on Wednesday, explaining that its “profit-sharing corporate vehicle sourcing partner” has notified CarLotz that it has paused consignments to the company, given the condition of the wholesale vehicle market. CarLotz declined to share the name of the sourcing partner, citing a legal agreement, but […] [Read More]