A top dealership in the San Francisco Bay Area now has a new owner. Bakhtiari Auto Group has acquired Acura of Fremont in Fremont, Calif., from Bruce Kavich, according to Haig Partners, which advised the seller in the transaction. In a news release, Haig said Acura of Fremont is one of the top-performing Acura dealerships […] [Read More]

Evidently the investment world isn’t completely sour on subprime auto financing despite what’s transpired in the industry segment recently. On Wednesday afternoon, Global Lending Services (GLS) announced it has entered into a definitive agreement to be acquired by Sixth Street, a global investment firm. According to a news release, chief executive officer Steve Thibodeau and […] [Read More]

After sharing top-line metrics from last week — wholesale values falling another 0.49%, auction conversion rates ticking up to 56%, and the estimated used retail days to turn staying at roughly 36 days — Black Book got into a discussion about 2023, 2024 and 2025 models. Black Book began this portion of Market Insights by […] [Read More]

DRN, MVTRAC and Secure Collateral Management (SCM) made multiple moves recently to enhance their services to auto-finance companies and their relationships with repossession agents. First, DRN and Loanbridge formed a partnership, as Loanbridge data is now integrated into DRN’s monitoring, verification, and recovery (MVR) program. It’s meant to deliver earlier visibility into at-risk vehicles for […] [Read More]

The National Automobile Dealers Association announced its leadership for 2026, with vice chairman Rob Cochran set to become chairman and Sandy Fitzgerald Angello as the new vice chairman. The new officers were elected by the NADA board of directors during the board’s meeting this week. The new terms will begin at the NADA Show, set […] [Read More]

Cities are partnering with the auto industry and autonomous/remote-controlled car technology providers to help solve transportation problems for residents, said panelists representing some of those municipalities and companies at the MOVE America conference here Sept. 23-24. MOVE America is a mobility and tech event that offers a platform for auto and technology companies, tech-savvy individuals, […] [Read More]

On Tuesday, Agora Data teamed up with DealerCenter to form a strategic partnership designed to empower dealers with enhanced tools and resources to obtain capital, streamline operations, and grow their businesses. According to a news release, more than 20,000 dealers can eventually enroll in Agora’s financing solutions within the DealerCenter DMS. The integration is designed […] [Read More]

The newest auto-finance data Edmunds released on Wednesday focused specifically on new-vehicle purchases and excluded used. But it still showed the conundrum lenders are facing nowadays associated with average negative equity, which climbed to an all-time high in the third quarter. Edmunds said Americans with upside-down car loans owe more than ever. The average amount […] [Read More]

FICO on Wednesday announced that Associated Bank has successfully upgraded from FICO Auto Score 8 to FICO Auto Score 10, leveraging dual processing to validate predictive benefits, enhance underwriting accuracy, and improve applicant assessment. According to a news release, Associated Bank has total assets of $41 billion and is the largest bank holding company based in […] [Read More]

Late last week, Kikoff, a credit-building platform, and Caribou, an auto refinance platform, announced a strategic partnership to expand financial access and control for millions of consumers. Caribou will now be featured as a trusted brand within the Kikoff Marketplace, bringing together two “mission-driven companies united by a vision of financial empowerment,” according to a […] [Read More]