It’s probably the unofficial mantra of buy-here, pay-here dealers when operators say, “We’re not in the car business. We’re in the collections business.” Well, the newest Bronze-level National Corporate Partner of the National Independent Automobile Dealers Association aims to help operators keep payments coming into their accounts. Carpay, a loan management software provider, recently joined […] [Read More]

DealerSocket is set to have new ownership. According to a news release distributed on Monday, Solera Holdings announced that it will acquire DealerSocket as well as Omnitracs, a complete fleet management platform. Financial terms were not disclosed. Solera said the acquisitions are expected to close during the second quarter and are subject to definitive agreements […] [Read More]

In looking at the highlights of the first-quarter results at ACV Auctions, one in particular stands out: its auction marketplace revenue nearly doubled. ACV reported $34.3 million in auction marketplace revenue during Q1, which beat year-ago figures by 92%.   Its marketplace and service revenue was up 69%, coming in at $58.4 million. Marketplace unit sales were […] [Read More]

Certified pre-owned vehicle sales in 2021 have come out of the gate surging ahead of the record pace set two year ago. In 2019, which was the strongest year ever for the certified pre-owned vehicle market, there were 910,578 CPO sales in the first four months of the year. The first four months of 2021 […] [Read More]

They’re turning tassels on college campuses nationwide, and Autotrader offered suggestions for 10 vehicles dealerships could be turning with those newly minted degree holders. Following the commemoration of the hard work they put in during the student years, Autotrader said young adults find themselves in need of their own vehicle as they begin the next […] [Read More]

KAR Global chief economist Tom Kontos might have channeled his inner weatherman when he used the term “perfect storm” as part of his description of the current wholesale market. Kontos elaborated about what he meant and more during another conversation for this episode of the Auto Remarketing Podcast. To hear the conversation, click on the link […] [Read More]

Kroll Bond Rating Agency (KBRA) used the descriptor “well grounded” when analysts dissected April remittance reports to discover the credit trends that surfaced during the March collection period. KBRA indicated delinquencies for both non-prime and prime contracts decreased. Analysts said in their newest report that early stage delinquencies — 30 to 59 days past due […] [Read More]

Point Predictive pinpointed a number in connection with one of the important topics being discussed this week during the Auto Intel Summit. According to the company’s Auto Fraud Report, Point Predictive said fraud reaching $7.3 billion of originations last year, with chief fraud strategist Frank McKenna calling 2020 “a pivotal year for fraud risk.” The […] [Read More]

Even during this time of new-model inventory scarcity, recent research by Cox Automotive showed how adamant about purchasing a new vehicle some consumers remain instead of considering the delivery of a certified pre-owned model or other used vehicle. Cox Automotive recently reported that 77% of new-vehicle intenders surveyed at the end of April are staying […] [Read More]

Easterns Automotive operates eight locations in Maryland and Virginia near Baltimore and Washington, D.C., and the group is one of the first dealerships to enjoy success stemming from the used-vehicle leasing tool put in motion by DRIVRZ Financial and Roadster. During the first week since going live with the integration on its website, Easterns Automotive […] [Read More]